On June 1st we introduced TCredits Welcomes (TW)–a tool for sponsors to help get new affiliates more quickly engaged and active. Today we are introducing the CASH WELCOME (CW), a program with the same objectives but that uses cash (i.e. real money!) as the reward/incentive.
Effective immediately, you now have the option to offer all new registrants a US Dollar (at a cost to you of just two TCredits per offer!).
It works like this: Once you’ve signed up to participate in the CW program, your new PSAs will see a screen like this (featuring your photo) immediately upon submitting their registration to join SFI.
HOW TO GET STARTED
Getting set up to participate is quick and easy. Just go to the Special Promo Manager HERE and click the Cash Welcomes tab:
If you have TCredits on account, it will show how many you have (a link is also provided if you need to buy some TCredits). Next, you just need to:
- Click the on/off switch to turn it ON.
- Choose if you wish to make an offer to ALL, 50%, or 25% of your registrants.
- Choose the maximum number of CW offers you’re willing to make each day (your daily maximum limit).
- Choose whether to pause participation if your daily maximum limit is reached.
- Click the “Save” button.
That’s it! The very next person you sign up will be offered a “starter dollar!”
And it’s just as easy to turn off whenever you want. Just return to the Special Promo Manager and turn the on/off switch to OFF.
TIP: Perhaps you want to be around so that you can immediately get in touch (e.g. SFI Instant Messaging) with those accepting your offer to maximize impact. Hence, you could turn participation ON when you’re at your computer, and off when you’re not.
You’ll also notice the STATISTICS section. In this area, we will provide real-time statistics so you can see how your campaign is doing in real time.
This is a good time to think about ROI (Return On Investment). Though you’ll know immediately when new affiliates have accepted your cash offer, you may not know for at least a few days, and possibly weeks, if your investment is paying off with more active affiliates.
For example, are those receiving this offer going further in the E365 contest? Going Fast-Track? Are they becoming EAs, EA2s, or Team Leaders more frequently? Are they setting up Standing Orders? These and other metrics will be very important in determining your ROI.
The simple stats on the Special Promo Manager page will help you get a quick, general idea, but you’ll be pleased to know we’ve also added a new filter to the Genealogy. By selecting the new “Rec’d Cash Welcome” filter, you can really “crunch the numbers” and compare all kinds of aspects vs. those who do not receive the offer. This new filter is also great if you wish to send a mailing to this group.
FREQUENTLY ASKED QUESTIONS
Q: Since I can purchase and/or win two TCredits for much less than a dollar, how can a dollar be offered to my new sign-ups?
SFI is making up the difference. Remember, we’re partners. If you’re in, we’re in!
Q: Many people from around the world may not know the value of a US Dollar or would respond better to an offer in their own currency. Is this a possibility?
Yes! We just need to establish that the program is viable and working first. We’ve built the program so other currencies can easily be plugged in automatically based on the country of residence registered. So, depending on their country, one person may be offered a US Dollar, the next person a Euro, the next person offered Rupees, and so on.
Q: How does providing a “starter dollar” help get new affiliates engaged?
Getting people STARTED is absolutely critical. People that get started and get engaged with the system are about 20 times more likely to stay engaged and become active SFI affiliates. Real cash is a great inducement to jump in!
Q: Do I get my TCredits returned to my account if the recipient does not ultimately receive the dollar because they never got a standard commissions payment?
Because it could be many months or even more before commissions are qualified for, no. In participating the program, you’ll need to consider each pair of TCredits used as part of your cost of advertising. And keep in mind that if they’ve earned commissions, you’ve likely earned Direct Commissions of more than the cost of your two TCredits investment.
Q: Does SFI remind recipients of the CW offer?
Yes, immediately upon accepting the offer, they’ll receive an special email from us reminding them of your gift and that it will be automatically paid to them with their first standard commissions payment. Additionally, at the Affiliate Center, on their Alerts page, they’ll see a special alert about it.
Q: Why is offering cash better than offering TCredits (the TW offer)?
We don’t know that it is yet, but we DO know that it’s much more direct. Everyone understands what money is and what you can do with it. You can’t say the same about TCredits. Understanding the value of TCredits requires at least a bit of education–which likely makes it at least somewhat less effective. And, of course, everyone joining SFI is joining essentially for one main reason–to make money. Giving them the gift of their first dollar (to be the first of many to come hopefully)–we think might make a great impression! Indeed, it may be a game-changer!
Q: How will I know that a new PSA has accepted the CW offer?
For starters, we’ve added a line to the PSA Notification email you receive from us each time you have a new sign-up. We’ve also added a “CW” to the subject line for this email so you can know without even opening the email. We’ve also added a new “Rec’d Cash Welcome” filter on the Genealogy. Use this filter to pull up all PSAs who have accepted your offer for special group mailings and/or to compare the activity of those who have and have not received a CW from you.
Q: What if I change my mind and don’t want to participate in the CW program any longer?
You can turn it off any time you want by simply updating your preferences in the Special Promo Manager.
Q: Why do I have the option of making the offer to all or just some of my new sign-ups?
This is so you may do what is known as “A/B Split Testing.” That is, by choosing to award cash to some but not all, you can compare results, in the same time period, and determine if participating in the CW program works and makes sense for you.
Q: How can I justify this extra cost of spending these TCredits?
You have to look at the big picture here. You’ve already invested in the advertising to get them signed up. Will you make more in the long run by investing a little more now–while you have their attention? Or will you make more hoping they’ll get active with SFI without you “sweetening the deal.” We don’t know that today, but that’s why we’ve made the various tracking tools available to help you answer this question. Tip: You may be able to significantly decrease your cost for the TCredits by winning them at Pricebenders.
Q: In the Special Promo Manager, I have the option of setting a maximum limit of CW offers for each day. What is the purpose of this?
This is simply a protection feature for you. TCredits are valuable of course. We would not want to you to wake up one morning and find out that more TCredits than you wanted to spend had been spent.
Q: In the Special Promo Manager, I have the option of having the system automatically pause my participation in the CW program if my daily maximum limit is reached. What is the purpose of this?
This is for your protection. Even a nominal daily limit, if reached day after day after day, will add up. We want you to be aware so you do not receive an unpleasant surprise. Note that if you DO reach your daily limit and have your preferences set to pause participation, we will send you an email to alert you so that you can turn participation back on when you’re ready.
Q: I notice that the offer screen will feature my picture. Is a good picture important?
Absolutely. If you don’t have a good picture for your SFI account, replace it with one HERE! Your face should dominate the photo and you should be smiling and look professional. The photo should also have good lighting and not be blurry. Details count; a poor image could cost you a LOT of money! You’ll increase your chances of engaging your new affiliates if your photo comes across as someone they would want to work with, so don’t overlook this small but very important element!
Q: Can I participate in BOTH the TCredits Welcome and the Cash Welcome?
Yes, but not at the same time. Turn one on and the other off whenever you want to switch between the two programs.
Q: What’s to stop people from signing up multiple times just to get free dollar?
We automatically block any attempts at signing up with the same email address more than once. We also use other tools to monitor duplicate sign-ups. But the main reason this should not be a concern is that recipients cannot receive the dollars unless they actually become active and earn other commissions.
Q: What if someone who did not receive the CW offer learns that I gave it to others but not him?
If this were to occur, and you wanted to give the person something, you always have the option of using the standard TCredits Transfer feature located in your Genealogy to transfer up to ten TCredits. Or, you could give them a TripleClicks gift certificate.
Q: Can I get my TCredits back if I decide that I didn’t want a recipient to have received the cash offer?
Q: I’m not convinced that this new CW program will work for me. Can I wait and see how it’s working for others before I start my participation?
Of course, yes. We’ll be tracking results companywide and we’ll let everyone know how the program is working, so you can decide based on actual data. And if you don’t ever want to participate, that’s fine, too; it’s a 100% optional program.
Log in at the SFI Affiliate Center, then head over to the FORUM–to the SFI NEWS DISCUSSIONS section–to discuss this announcement with your fellow SFI’ers.