Affiliate marketing is one of the best online marketing strategies to help online marketers monetize their websites.
Although there are a lot of affiliate programs out there, not every affiliate program is suitable for every website. It is vital to evaluate those affiliate programs to ensure you select the best one for your website.
Here are some tips that you need to know when you choose your affiliate program. I hope these tips will help you choose the right affiliate program and generate good income from your blog.
Commission rates
Commission rates vary based on different product or industry. For example, commission rates are as low as 1-2% for computer, and as high as 60% for e-books, software, and other Internet marketing products.
Of course the higher the commission rates, the better for your business. However, the lower conversion rates are also acceptable when you choose an affiliate product that has higher conversion rates and you have good traffic.
Payout schedule and method
A good affiliate program ensures that you will be paid at least once per month. Usually, the minimum payout amount is $100. It is better if the payout amounts are less than $100. Most importantly, make sure that the payout methods (Credit card, direct deposit, PayPal, check, etc.) work for you.
One-time income or recurring income
One-time income – Some affiliate programs just provide one-time referral fee, which means you are only paid one-time for each sale because of your referral.
Example:
You refer Mike to the affiliate program A, and he signs up at $100.00 per year.
If your commission rate is 10%, you are only paid once and earn $10.00. You will not earn any more even if Mike continues to stay with this program for the second year, third year…
Recurring income – when someone you refer to an affiliate program makes a purchase, you’ll earn not only on the initial sale, but also on any recurring payments they make.
Example:
You refer Mike to the affiliate program B, and he makes a purchase at $100.00. If your commission rate is 10%, you will earn $10.00 for Mike’s first purchase. You will continue to earn another $10 if Mike makes a second purchase at $100. You will continue to earn 10% commission as long as Mike makes purchase through your referral.
Tracking method
One of the main concerns when choosing an affiliate program is whether the program applies precise tracking method that tracks conversions on their affiliate sites.
Unfortunately, some affiliate programs fail to provide proper tracking methods that ensures each conversion to be tracked accurately. As a result, some sales are neglected to be counted. In fact, I have got lots complaints about this problem from my customers.
Some other successful affiliate programs like Bluehost, Treehouse and OptinSkin, however, have developed more advanced tracking techniques that can punch through virtually every anonymous or traditional proxy server. These super approaches yield substantial increase in tracking accuracy.
Currently, there are three main types for tracking methods, which are listed in the order from stronger to weaker:
- Flash cookie tracking
- Browser cookie tracking
- IP address tracking
Successful affiliate programs implement advanced types of tracking to create precise tracking results. Weak tracking methods should be complementary tracking methods to stronger tacking methods.
Tracking duration
It is the common knowledge that the longer the tracking duration, the better the affiliate program is.
For example:
You join an affiliate program that provides 90 days tracking duration.
Mike did not make any purchase for the first time when he clicked on an affiliate tracking link on your website. However, you still can earn commission as long as Mike make a purchase within 90 days.
Tax
Some affiliate programs require tax information. Please make sure that you submit the tax form in order for you to be paid if required.
In your niche
Many online marketers overlook one fact that not every affiliate product is proper for every website. They simply promote the products that don’t appeal to them or suit them. For a higher achievement, people should pick first of all products that match their niche or interest.
In conclusion
Finding good affiliate programs to promote will finally determine your online business success. You should never simply choose a program to work with just because someone recommends you so. You should spend some time doing your “homework” before you make any decision. Please follow the tips mentioned in this article when choosing your affiliate program and I hope these tips will help you earn the most money from website.
