So I recently registered the 500th Account as an affiliate on BitShares, here are some stats and thoughts
Stats
- 512 Accounts
- 8 Life Time Memberships
Earnings
This is nearly impossible to measure, and the fundamental flaw of the referral program.
Let's assume average LTM Upgrade costs $100 (=60% to Affiliate)
- $480 earned in LTM Upgrade Fees
Cost per Acquisition (CPA)
- $480/512Ref = $0.94
Fundamental Flaw
Referral earnings are paid as vesting over the course of three months, and in volatile BitShares.
I know, I'm repeating myself in every report
however, it's impossible for a marketer to invest in Advertising models if there is no calculable ROI.
BitShares could be worth 0.001 in 3 months or 0.01... or more... or less...
Idea
- Affiliate/LTM Upgrade paid in bitUSD
- Add more exclusive LTM features
I believe this would set the foundation to bootstrap marketing efforts.
Very interesting @ash never really looked into their affiliate program before.
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I agree that the confusing affiliate model simply puts off any serious affiliate marketer. It's okay for passive affiliates, marketers, and fans, but you won't likely get anyone "pushing traffic" without a better understanding of the earnings per click or roi, as they can likely send that same traffic somewhere else with a more defined return.
A few more ideas to add to your thoughts:
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Agree with your notions here and in the article, always best to price referral in Fiat USD currency basis too for ease of use/understanding by affiliates. @ash @clickside If only you could short the currency or have another level for risk takers to get involved and buy up affiliates crypto to get them out of the market.... Resteemed this post very very interesting.
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Thank you @ash for sharing.
Where are you getting those stats from?
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All fees, workers and payments in Bitshares should be paid in BitUSD
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@ash, thank you for sharing about your experience. This information will be able to help other people make informed decisions about this affiliate program.
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how you get refferals??
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by using your referral link
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Very interesting model! Keep this work up and its only going to get better from here.
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