Situation
The startup wanted to grow by 1,170% in just one year
Newly launched in 2019, LetsGetChecked set an ambitious goal to acquire new customers and grow transaction volume by 26% each month, which when compounded, would result in an incredible annual growth of 1,170%.
LetsGetChecked saw that their biggest growth opportunity lay in recruiting new partners, particularly in the home testing vertical. To achieve their annual growth goal, they needed to onboard 500 additional partners.
In order to sign up quality new partners, LetsGetChecked knew they needed to reward partners for driving first interaction transactions and pay them according to the value they drove.
LetsGetChecked wanted to re-evaluate their payment structure to ensure that partners who introduced a sale were rewarded well and at the same level as their in-house campaigns.
Solution
Leverage a diverse range of discovery strategies to locate new partners and recalibrate payment structure to reward partners according to contribution
LetsGetChecked and Impact worked together to source and contact prospective partners in the home testing vertical, using Partnership Cloud’s (PC’s) automation and keyword integrations, and its numerous email workflows.
By searching for prospects based on keywords to source influencers, health websites, and publications that discussed relevant health topics, and using numerous email workflows, LetsGetChecked reached out to hundreds of partners within a few hours. They segmented their emails based on partner category and scheduled follow-up emails to increase response rate.
By reaching out to hundreds of potential partners, LetsGetChecked turned their low response rate around and opened a number of new opportunities within one-to-two days. They added about 30 new keywords to the Partnership Cloud every evening and approved and tagged new potential partners the next morning.
These new potential partners entered into LetsGetChecked’s email funnel automation, sending an incredible 500 outreach emails every day. LetsGetChecked also fully automated partner recruitment, allowing potential partners to be sent a recruitment email and join the affiliate program immediately, without being reviewed. This increased the number of prospects they reached out to, accelerating acquisition of high-quality partners.
Through Partnership Cloud’s Insights reporting, LetsGetChecked realized that their payment model over-rewarded partners when other channels were involved in the purchase funnel. Using this information, LetsGetChecked took two steps. They:
1. Modified payment structure and lowered the commission payout to 10% for partners that consistently closed a multistep purchase journey (i.e., coupon websites). This allowed LetsGetChecked to free up significant budget to reward partners that introduced a sale and acquired new customers.
2. Identified partners that introduced customers and increased their payout to encourage more first-interaction sales. This increased LetsGetChecked’s volume, which also benefited the closing affiliates. Although their payout decreased to 10%, the high volume that was driven by the introducers resulted in an increase in overall traffic.
In addition, as LetsGetChecked has over 35 products with a range of price points, they used customized payout groups to ensure that they paid each partner the maximum amount based on AOV and expected ROAS.
The partners that acted as introducers drove new customers to the LetsGetChecked website through paid social and pay-per-click campaigns.
LetsGetChecked drove significant volume by sourcing traffic from partnerships with high-traffic health publications and scaling their influencer campaigns. LetsGetChecked used Partnership Cloud’s payout groups feature to segment their partners and assign different commission based on partners’ role in the customer journey, and this all led to higher ROAS.
Outcome
LetsGetChecked experienced significant growth in 2019, with their affiliate program growing by 287% from Q1 to Q2, and then another 375% in Q3. They grew their affiliate program by 1,896% in revenue and 3,692% in sales volume. By sourcing new partners within the health vertical, which drove native/search/paid social/SEO, and influencer traffic, LetsGetChecked consistently exceeded their monthly growth targets of 26%.
Through Impact’s Partnership Cloud, LetsGetChecked sourced more high-ROAS partners and regained control of their overall ROAS, raising it in Q3 to Q4 by 36%.
LetsGetChecked contacted nearly 8,000 potential partners, which were qualified through careful integrations that located relevant influencers and websites in key geographical areas. In particular, LetsGetChecked used the Partnership Cloud’s “has sponsored posts” toggle to eliminate partners that hadn’t worked as professional influencers before to ensure high quality. Overall, they reached 736 partners, 47% above their target of 500.
A central facet to LetsGetChecked’s success was in treating every partner as a human as well as a business or a website while using automated discovery and outreach tools. They invested the time they saved into knowing the people and businesses to create mutually beneficial partnerships with a culture of advocacy for empowered healthcare embedded in every interaction.