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    Create A Program In Siren

    Concepts Discussed In This Video

    • What Is An Affiliate Program?

      What Is An Affiliate Program?

      An affiliate program is a business arrangement where a company pays someone a commission for driving sales to their website.

    • What Are Programs?

      What Are Programs?

      A set of conditions that specify how and when collaborators earn rewards, along with the amounts of those rewards.

    • What Is a Collaborator?

      What Is a Collaborator?

      Individuals or entities such as bloggers, influencers, or businesses that participate in your programs to promote your products or services.

    • What Is an Engagement?

      What Is an Engagement?

      Any track-able event where a potential customer’s action is tied to a collaborator.

    • What Are Transactions?

      What Are Transactions?

      A record that captures every detail of a purchase, including what items were bought, their quantities, and all associated costs such as taxes and shipping fees.

    Program Structures

    • Newest Engagement Wins

      Newest Engagement Wins

      Newest Engagement Wins is a program structure designed to reward the last collaborator who successfully engages with a customer.

    • Top Score Wins

      Top Score Wins

      The Performance Weighted Pool is a program structure where the person with the top engagement score receives the entire reward.

    • Oldest Engagement Wins

      Oldest Engagement Wins

      Oldest Engagement Wins rewards the first collaborator to engage a customer.

    • Shared Engagement Pool

      Shared Engagement Pool

      The “Shared Engagement Pool” is a program structure where rewards are evenly divided among all collaborators who have interacted with a customer throughout their journey.

    • Performance Weighted Pool

      Performance Weighted Pool

      The Performance Weighted Pool is a program structure where rewards are distributed among all collaborators based on their performance relative to each other.

    Engagement Tracking Events

    • Site Visited

      Site Visited

      The “Site Visited” event is designed to reward collaborators, typically affiliates, whenever a potential customer visits your website through their unique affiliate link.

    • Coupon Code Used

      Coupon Code Used

      Whenever a collaborator promotes your products using a unique coupon code, and a customer uses this code to make a purchase, the “Coupon Code Used” event is triggered.

    • Blog Post Visited

      Blog Post Visited

      Whenever a collaborator promotes your products using a unique coupon code, and a customer uses this code to make a purchase, the “Coupon Code Used” event is triggered.

    Incentive Structures

    • Percentage of Transaction

      Percentage of Transaction

      The “Fixed Per Transaction” incentive structure rewards collaborators with a set fee for each completed transaction that they influence, regardless of the total number of items sold or the total transaction value.

    • Fixed Per Transaction

      Fixed Per Transaction

      The “Fixed Per Transaction” incentive structure rewards collaborators with a set fee for each completed transaction that they influence, regardless of the total number of items sold or the total transaction value.

    • Fixed Per Product

      Fixed Per Product

      The “Fixed Per Product” incentive structure rewards collaborators with a predetermined amount for each unit of a product sold through their efforts, regardless of the total transaction value.

    Transcript

    Click to expand Transcript

    Let’s create a program in Siren.

    We’re going to hover over Siren and we’re going to click programs.

    From there, we’re going to click add new.

    In order to create a program, we need to give it some information.

    First off, let’s give it a name.

    In my case, I’m creating a basic affiliate program.

    Next, give it a description, then specify the status, whether it’s active or

    inactive. I want to use my program right away, so I’m going to set it to active.

    Next, set your currency.

    I’m using U.S. dollars.

    Next, we’re going to pick our program structure.

    A program structure defines who gets paid whenever a customer converts.

    Some program structures dictate that only one collaborator wins, while others can

    dictate that many collaborators win.

    In cases where many collaborators win, the program structure also defines how the

    reward pool gets divided.

    I have created more detailed videos of all of these program structures.

    You can find links to these in the description below.

    In my case, I’m going to use the newest engagement wins program structure because

    I’m creating an affiliate program and I want to be focused on conversions.

    Next, we’re going to look at engagement tracking events.

    An engagement tracking event is any trackable event where the potential

    customer’s action can be tied directly to a collaborator.

    A common example of this is when a customer comes and visits your site using a

    collaborators affiliate link.

    Really, it can be anything.

    I’ve actually created more detailed videos for all of these different tracking

    events, and if you’d like to see those, those are also going to be in the

    description below.

    In my case, I’m going to use two different engagement tracking events for this

    program. I’m going to use site visited and coupon code used.

    I’m going to set the value to both of these as one, just so that I can keep track

    of how many times these two different things were done before the conversion was

    done. Finally, we’re going to look at the incentive structure.

    An incentive structure defines how much gets paid out whenever a customer

    converts. Structures use the transaction data from that conversion to determine

    how much to pay out.

    Yet again, I’ve created videos for all three of these and details the pros and

    cons of each one, and you can see that link in the description below.

    In my case, since I’m creating an affiliate program, I’m going to use percentage

    of transaction because I feel this is going to be a longstanding program.

    And I think that this approach works really well for the long term.

    I’m going to set the percentage to 15 percent for this, and I’m going to set the

    conversions to work for both sales and renewals.

    In other words, whenever a customer comes in and buys something for the first

    time, it’s going to credit the collaborator with that 15 percent transaction.

    And since I’ve also checked the renewals checkbox, it’s also going to reward them

    whenever that customer’s subscription renews.

    So renewals apply specifically to subscriptions, whereas sales apply

    specifically to the initial sale.

    If you have a renewal base or subscription based product and you don’t want to pay

    them for the renewals, you don’t want to pay your collaborators for renewals, but

    you want to pay them for the initial sales, uncheck this.

    Otherwise, leave it checked. As for the percentage, it really depends on your

    profit margin and how much you can afford to pay out.

    So putting it all together, we now have a program structure where the program will

    select the newest engagement, in other words, the last person, the person who

    most recently engaged with this customer.

    An engagement in this case is defined as any time the customer uses a coupon code

    from that belongs to a collaborator or any time they visit a site with a

    collaborator’s special affiliate link.

    And then finally, whenever the customer converts, we are going to pay whoever is

    the newest engagement, whatever collaborator is associated with the newest

    engagement, 15 percent both for the initial sale and any renewals that happen

    afterward. Another thing to note is this auto approved completed transactions

    checkbox. Whatever e-commerce platform you’re using generally has a status

    associated with an order.

    So whenever that order is marked as complete in your e-commerce system, it will

    automatically approve all of the conversions for that order as soon as that

    happens. The benefit of this is you don’t have to go in and approve every single

    solitary conversion or all of your orders.

    This will just automatically ensure that that happens once an order finalizes.

    OK, so from there, we just click on the Create button.

    And just like that, our program has been created.

    Now we could go in here and create as many programs as we want.