Bootstrapping an affiliate SaaS for b2b businesses with Joran Hofman @Reditus

saas.unbound is a podcast for and about founders who are working on scaling inspiring products that people love brought to you by https://saas.group/ . I’m your host Anna Nadeina, Head of Growth for saas.group.

In episode #15, we talk with Joran Hofman, Founder @ Reditus (https://www.getreditus.com/), a Partner Management Tool for B2B SaaS businesses.

Building Reditus: From Necessity to Solution

Joran Hofman’s journey to founding Reditus, an affiliate management tool for B2B SaaS businesses, began with his own frustrations with existing marketing tools. After working in sales and customer success roles at startups, Joran noticed a recurring problem – many of the tools he was using to manage affiliate programs were siloed and lacked transparency. This led him to explore building his own solution, initially as a website to aggregate and recommend sales and marketing tools.

As Joran delved deeper into affiliate marketing, he encountered more challenges. Despite driving significant traffic to affiliate links, he struggled to convert those clicks into actual sales. The lack of visibility and support from existing tools left him feeling distrustful of the entire process. Recognizing the need for a more comprehensive and transparent solution, Joran decided to build Reditus, a platform designed to empower B2B SaaS companies to manage their affiliate programs more effectively.

Overcoming the Chicken-and-Egg Challenge

Launching Reditus was not without its obstacles. Joran faced the classic chicken-and-egg problem – he needed to attract SaaS companies to the platform to build a robust marketplace, but those companies were hesitant to join without a sizable network of affiliates already in place. To address this, Joran initially planned to launch an MVP, but ultimately decided against it, opting instead to build a more comprehensive tool from the start.

Joran’s solution was to leverage the AppSumo platform to kickstart the marketplace and attract SaaS companies to the platform. By offering Reditus through AppSumo, Joran was able to onboard a group of early adopters and begin building a network of affiliates. This allowed Joran to demonstrate the value of the Reditus platform to potential SaaS customers, who could then invite their own affiliates to join the network.

Affiliate Program Growth and Onboarding

Onboarding new SaaS companies and affiliates to the Reditus platform has been a key focus for Joran. He recognizes that many businesses, especially those new to affiliate marketing, need guidance and support to set up and grow their programs effectively. To address this, Joran has invested heavily in the platform’s customer success capabilities, offering live chat support and a comprehensive help center with educational resources.

One of Joran’s strategies for driving growth is to target competitors’ clients and offer them the opportunity to run their affiliate programs in parallel on the Reditus platform. This allows Joran to showcase the value of the Reditus marketplace and network, ultimately convincing these companies to migrate their entire affiliate program to the platform. By leveraging this approach, Joran has been able to kickstart the network effect and attract new SaaS companies to Reditus.

Tips on Bootstrapping

Joran has chosen to bootstrap Reditus, forgoing outside funding in favor of a more sustainable, self-funded approach. This decision has come with its own set of challenges, but Joran believes it has also brought significant advantages. He emphasizes the importance of maintaining a customer-centric focus and ensuring that the product delivers genuine value, rather than chasing growth at all costs.

One of Joran’s key strategies for keeping the lights on has been to diversify Reditus’ revenue streams. In addition to the platform’s subscription-based pricing, Joran and his team offer services such as affiliate recruitment and management, which provide an additional revenue source and allow them to continue investing in the core product.

Joran also highlights the importance of building a strong, dedicated team, even in a remote environment. By carefully vetting and onboarding new hires, and fostering a culture of transparency and communication, Joran has been able to maintain team cohesion and ensure that everyone is aligned with the company’s long-term vision.

Leveraging Networks and Building Trust

One of Joran’s unique growth strategies has been to leverage his own personal network and influence to drive awareness and adoption of Reditus. By hosting his own podcast, Joran has been able to tap into the networks of industry leaders and experts, inviting them onto the show and leveraging their platforms to reach a wider audience.

Joran has also prioritized building trust and authority within the B2B SaaS community. By consistently showing up, sharing his expertise, and providing value to his audience, Joran has been able to establish Reditus as a trusted partner for businesses looking to implement and grow their affiliate programs.