As explained in our earlier announcement, we are discontinuing the Signing Bonus program.
The Signing Bonus program is being replaced with a new program we’re calling “CLASS CASH.”
We call the new program Class Cash because it’s a special drawing held just for the members of your class (i.e., everyone who joined SFI the same day you did). This of course means that your odds of winning are pretty good—since you’re competing ONLY against those who joined SFI the same day you did.
Whenever a new person joins SFI, they will be informed of our Class Cash drawing immediately upon submitting the submission button on the affiliate registration page.
The page will look like this:
Upon confirming their email address (or entering a different one if they clicked the red “no” button), they’ll see a message letting them know their drawing entry number has been emailed to them. They can now retrieve their entry number from the email we’ve sent them.
Over the course of the next 29 days, they’ll then receive up to six additional emails, just friendly reminders about the 10 logins and 300 VersaPoints requirements and—for those who’ve met the login/VP requirements—reminding them to log in on their 30th day to find out if they’ve won and to claim their prize.
We’ve also simplified and shortened the entire New Affiliate Intro (the first pages a new affiliate sees upon signing up). Now, upon signing up, a new affiliates will see the Class Cash info page (see screenshot above), then just four short pages that welcome them to SFI and provide an overview of the SFI program before turning them over to LaunchPad.
Q: In what ways is Class Cash an improvement over the Signing Bonus program?
There are several reasons, including: 1. It ensures a valid email address, which can open up vital communications. 2. When a person enters the Class Cash drawing, they’ll be incentivized to log in at least ten times over the next 30 days and collect a minimum of 300 VersaPoints. And if they’re logging in and collecting VersaPoints, there’s a much greater chance of them becoming serious, active affiliates.
Q: Why are you pre-announcing the discontinuation of Signing Bonuses and the new replacement program, Class Cash?
As a courtesy, we want to alert everyone about what’s coming in case you need to adjust your advertising or other marketing that references the soon-to-be-obsolete Signing Bonus program.
Q: When will the Signing Bonus program officially end?
We are removing all references to the Signing Bonus program on our Gateways, banners, etc. on Wednesday, July 12th. By Friday, July 14th, all references in LaunchPad, on the To Do List tab, in the Knowledge Base, etc. should be removed. However, new affiliates joining SFI through Sunday, July 16th, will still be eligible to receive the up-to-$100 Signing Bonuses that are currently referenced in our Gateways, banners, etc.
Q: When will the new Class Cash program go live?
Class Cash is planned to go live no later than Tuesday, July 18th, and will be reflected on all SFI gateways at this time.
Q: Why inform new registrants about Class Cash as the very first thing they see upon signing up?
It’s actually critical that it’s done at this time. Why? Because this is the one and only time we can absolutely be assured we have a captive audience. That is, for every other SFI webpage, everything from LaunchPad to the Affiliate Center and beyond, there’s no guarantee the new affiliate will ever get that far. But when they hit the submit button from their registration, however, we can be assured they will see the next page (the Class Cash info page).
Q: Why force people to get their drawing entry number via an email?
If the person wants to get entered for the cash prize, they will HAVE to provide us with a valid email address…and a valid email address opens the door to important subsequent communications from and with SFI corporate, sponsors, co-sponsors, and upline Team Leaders. This one little change could potentially pay huge dividends.
Q: What if a person has registered with one email address but wants or needs to change it to a different/better one?
Review the screenshot of the Class Cash page above. The first thing we ask them to do is verify that the email address they just registered is the one they want us to send their drawing entry number to. If not, they can click the “NO” button and they’ll be able to instantly swap in a different email address. Note: We expect to see a LOT of people changing their email address here, since it’s now critical for them in order to enter the drawing.
Q: When does the new affiliate know if they’ve won the cash prize?
On their 30th day in SFI they’ll just need to visit the Alerts tab at the Affiliate Center and see what the winning entry number is. If they see their number listed, they can then claim it by following the simple directions provided.
Q: Why the minimum 10 logins and 300 VersaPoints requirements?
This of course assures a level of activity that can help all sponsors and Team Leaders in their team-building efforts. Just getting new registrants to provide a valid email address is awesome of course, but getting new people in the habit of logging in regularly and collecting VersaPoints is even better, we’re sure you agree!
Q: Might the number of logins and/or VersaPoints be decreased or increased?
Yes, we’re starting with a minimum of 10 logins and 300 VersaPoints, but we plan to test other amounts to find the “sweet spot.”
Q: Does a winner have to claim the prize on their 30th day?
No, they technically have up to 72 hours (day 30, day 31, and day 32) to visit the Alerts tab, view the winning number, and claim the prize if its their number that has been drawn.
Q: Are there any consolation prizes for those who don’t win the cash prize?
Yes, there will be multiple consolation prizes, so all Class Cash entrants should visit the Affiliate Center on day 30 to see if they’ve at least won a consolation prize.
Q: Should I as the sponsor, upline Team Leader, or co-sponsor of a new person be providing them information on the Class Cash drawing?
We don’t recommend making this a focus of your communications with new members, but you can certainly mention it. Going forwards, we’ll be monitoring interest in the new program and we’ll provide future guidance on this to all sponsors once we know better how it’s being received.
Q: What if a new affiliate loses the email with their entry number?
In the follow-up emails they’ll be receiving from us, we’ll remind them of their entry number.
Q: What if a new affiliate’s ISP won’t deliver the email with their entry number to them?
They’ll have to submit a ticket should this occur.
Q: What happens if a registrant chooses not to enter the Class Cash drawing and instead clicks the “no thanks” button?
They’ll immediately be presented with our new, shorter New Affiliate Intro…which leads to the LaunchPad. In short, they can jump right into being an SFI affiliate, they just won’t have the opportunity to win the drawing.
Q: I have received Signing Bonuses previously. The total amount of those bonuses resides in my account. Do I lose this money?
No. If you have Signing Bonus money in your affiliate account, it will be paid out per the original rules (as 3% of your commissions, for up to 18 months). Do note, however, that we are changing the name from Signing Bonus to Action Bonus. That is, the money you received as a Signing Bonus will now be categorized in your account as an Action Bonus.
Q: So you’re going to continue to award bonuses (paid out at 3% over a maximum of 18 months), but the name will just be changed?
No. No one will receive the $20 bonus just for joining SFI or the additional $80 for doing the E365 actions any more. But, at least for the time being, we may continue to award Action Bonuses for other things, such as for the daily Biz Quiz prize.
Q: Will SFI Gateways advertise Class Cash like it did Signing Bonuses?
If will be included on the Gateways, yes, but it won’t be like the Signing Bonus program which sometimes confused people because they failed to read the details. We also won’t lead with Class Cash anywhere (e.g. there won’t be an banners that focus on the Class Cash drawing).
Q: How exactly will it be presented on SFI Gateways?
There will be a simple panel with this text: “Special Bonus: One person joining SFI today will win $250! Join today to get entered. No purchase necessary to win.”
Q: Maybe Class Cash shouldn’t be mentioned on SFI Gateways to avoid incentivizing people to join just to win money?
Perhaps. On the other hand, it’s not a guarantee of income (that some perceived the Signing Bonus to be), it’s just a nice bonus drawing, and it may very well attract sign-ups that turn into serious affiliates. We’ll monitor it carefully, and if we’re not seeing a net gain, we’ll remove it from the Gateways.
Q: Isn’t Class Cash kind of redundant of the E365 contest?
It some ways it is, but Class Cash is much simpler and more direct. Hence, we think it will quickly engage many new people and in much higher numbers than E365 does.
Q: It appears that the New Affiliate Intro eliminates the pages that previously walked the new affiliate through confirming their email address, whitelisting, and completing Profile Basics. Isn’t this bad to pass over these?
The new Class Cash drawing, which provides a strong incentive to register a valid and active email address largely eliminates the need for the email confirmation. And the whitelisting and Profile Basics pages arguably add unnecessary complexity for new affiliates. Meanwhile, all of these elements will continue to exist and can be subsequently accessed by new affiliates a little later in the process of getting started with SFI, especially since they represent large amounts of free, easy VersaPoints and are prominently presented in their own section on the To Do List tab.
Q: Is this new program just for new affiliates…or can existing affiliates participate and win prizes too?
It’s only for new affiliates, starting with those joining next week (Class Cash should go live on either July 17th or 18th).
Q: Why does the New Affiliate Intro turn them over to LaunchPad instead of the Affiliate Center?
Our research on this over the years indicates that dropping new persons directly into the Affiliate Center is overwhelming. Before hitting the Affiliate Center, new affiliates need to understand a few basics. These basics are what we cover in the intro and in LaunchPad. Of course, if a new affiliate wants to skip LaunchPad and jump into the Affiliate Center, they can…by clicking the Affiliate Center button located atop each LaunchPad lesson.
Head over to the FORUM–to the SFI NEWS DISCUSSIONS section–to discuss this announcement with your fellow SFI’ers now.