Honey Scandal: What We Can Learn
Talk With The Video
Summary
- I learned that Honey grew big using a clever affiliate strategy by enlisting creators to promote a deal that felt wholesome and beneficial—saving money through a simple browser extension.
- It's important to create offers that are so good, affiliates feel great about sharing them and asking their audience to take action.
- We should aim to make deals where the audience gains and it's not just about paying the affiliate, creating a win-win situation.
- Transparency is crucial. The backlash Honey faces is due to not being clear about some of their practices.
- Always be open and honest in business practices to maintain trust with both affiliates and customers.
Video
How To Take Action
I suggest implementing the strategy of creating irresistible offers, much like Honey did. First, think about how you can add value to your audience and make it easy for them to see the benefits, like saving money or getting something for free. Ask yourself what will make them feel good about taking action.
A great way of doing this is by using an affiliate strategy. Enlist creators or partners who genuinely believe in your product. Make sure your offer makes them feel proud to promote it because it benefits their audience, not just them. It should feel like a win-win for everyone involved.
Transparency is key. Always be honest and open about how you operate. If people trust your brand and know what to expect, they are more likely to support you long-term. Clearly explain your product's features, benefits, and any terms involved. This builds trust and reduces any negative backlash that can come from misunderstandings.
Aim to have deals where everyone gains. This means when your affiliates talk about your product, they're not just trying to earn money but also sharing something valuable with their followers. This creates a genuine connection and makes it easier for affiliates to promote your product enthusiastically.
Finally, make the adoption process simple. Just like Honey was easy to install, ensure your products or services have a seamless user experience. This encourages more people to try them out.
