US-based affiliates experience a higher level of customer satisfaction than their ‘rest of world’ counterparts, according to findings in a new report by payment platform Tipalti.
While around half of US and non-US affiliates have experienced late payments, over a third of global affiliates have had issues with payments never arriving at all, compared to just 13% in North America.
And while less than a tenth of US affiliates are dissatisfied with the payment process, nearly 20% of non-US respondees cited a need for improvement.
Significant implications
Polling over 250 respondents from both small and large companies – those taking less than $10,000 in affiliate compensation per year to over $200,000 – the findings of the study have significant implications.
“Affiliate networks need to consider the influence their global affiliate partners have on their ongoing business success and how their commission payments processes are impacting their ability to recruit and retain the best affiliate marketers”, said Tipalti’s CEO, Chen Amit.
Amit adds that ‘greater network success and stability’ can be achieved with programs that employ best-payment practices, such as improving affiliate on-boarding, offering clients a secure portal to check payment status and providing better currency choices.
The survey found that two thirds of global affiliates want to be paid in local currency and show an overall preference for payment via PayPal and wire transfers.
The importance of payments
Away from geographical terms, payments remain ‘immensely important’ among affiliates in driving loyalty and attrition, says Tipalti in the report.
Nearly all of those surveyed (99.5%) agreed timely payment is important and expect to be able to verify its status online while the majority (90.1%) appreciate payment as soon as certain threshold numbers are met.
Just shy of two thirds of respondents claimed they would drop out of a network or program if consistent payment issues caused them frustration.