Discover why you should Become an Affiliate Marketer and how to choose the best Affiliate Programs to earn decent money
There are many horror stories supposedly about affiliate programs. People have heard them over and over again, that some are even wary of joining one at all. But these stories are mostly related to illegal programs or pyramid schemes. Basically, this kind of market does not have real, worthy product and their business model is not sustainable or does not allow their members to have an equal chance of success.
You do not want to be associated with these type of schemes. It is obvious you want to be with a program that offers high quality product that you will readily endorse. The growing number of those who have joined already and are succeeding immensely is proof enough that there are reliable and quality affiliate programs out there.
Why participate in an affiliate program?
Well, it gives you the opportunity to build a generous residual income. And it makes you an owner of a small business. Affiliate programs have already created many millionaires all over the world. They are the living testimony of how hard work and continuous marketing pay off.
If ever you are deciding to join one, you must take note that you are getting into something that is patterned to what you are capable of.
This will be an assurance that you are capable of doing anything to come out successful.
How do you choose a good affiliate program to promote? Here are some tips you may want to look over before choosing one:
- A program that you like and have interest in. One of the best ways of knowing if that is the kind of program you wish to promote is if you are interested in purchasing the product yourself. If that is the case, chances are, there are many others who are also interested in the same program and products.
- Look for a program that is of high quality. For instance, look for one that is associated with many experts in that particular industry. This way, you are assured that of the standard of the program you will be joining into.
- Join in the ones that offer real and viable products. How do you know this? Do some initial research. If possible, track down some of the members and customers to give you testimonial on the credibility of the program.
- The program that is catering to a growing target market. This will ensure you that there will be more and continuous demands for your referrals. Make inquiries, check out Google Trends. There are forums and discussions you can participate in to get good and reliable feedback.
- A program with a compensation plan that pays out a residual income and a payout of 30% or more would be a great choice. There are some programs offering this kind of compensation. Look closely for one. Do not waste your time with programs that do not reward substantially for your efforts.
- Be aware of the minimum quotas that you must fulfill or sales target that is too hard to achieve. Some affiliate programs impose pre-requisites before they will pay your commissions, such as minimum of $100 or more. Just be sure that you are capable of attaining their requirements.
- Choose an affiliate program that has a longer cookie period. They are often for 30 days, but some do offer longer times. This means that when a potential customer clicks on your affiliate link and don’t make a purchase, but they go back and purchase later (within the cookie expiry period), then you will still be credited for that sale and earn your commission.
- Select one that has plenty of tools and resources that can help you grow the business in the shortest possible time. Not all affiliate programs have these capacities. Make use you decide on one with lots of helpful tools, banners of various sizes and sales text you can use.
- Check out if the program has a proven system that can allow you to check your results and compensation online anytime and anywhere.
- Be aware of the things that members are not happy about in a program. Like with the ones mentioned above, you can check this in discussion forums. If you know someone in that same program, there is ho harm asking if there are many downsides involved.
Have a thorough and intensive knowledge about the affiliate program and affiliate network you will be promoting.
Knowing the kind of program you are getting yourself into will make you anticipate and prevent any future problems you may encounter.
If you can, ask questions first before you join an affiliate program. Do a little research about the choices of program that you intend to join into. Get some answers because they will be the deciding point of what you will be achieving later on.
Will it cost you anything to join the affiliate program?
Most affiliate programs being offered today are absolutely free of charge. So why settle for those that charge you some dollars before joining.
When do they issue the commission payments and how?
Every program is different. Some issue their payments once a month, every quarter, etc. Select the one that is suited to your payment time choice. Many affiliate programs are setting a minimum earned commission amount that an affiliate must meet or exceed in order for their payments to be issued. Some pay to Paypal or direct to your bank account. Some STILL send cheques! Check their payment options before you sign up, especially if you’re not living in the United States where some of the big Affiliate Network companies are like Clickbank.
What is the hit per sale ratio?
This is the average number of hits to a banner or text link it takes to generate a sale based on all affiliate statistics. This factor is extremely important because this will tell you how much traffic you must generate before you can earn a commission from the sale.
How are referrals from an affiliate’s site tracked and for how long do they remain in the system?
You need to be confident on the program enough to track those people you refer from your site. This is the only way that you can credit for a sale. The period of time that those people stay in the system is also important. This is because some visitors do not buy initially but may want to return later to make the purchase. Know if you will still get credit for the sale if it is done some months from a certain day.
What are the kinds of affiliate stats available?
Your choice of affiliate program should be capable of offering detailed stats. They should be available online anytime you decide to check them out. Constantly checking your individual stats is important to know how many impressions, hits and sales are already generated from your site. Impressions are the number of times the banner or text link was viewed by a visitor of your site. A hit is the one clicking on the banner or text links.
Does the affiliate program also pay for the hits and impressions besides the commissions on sales?
Sometimes impressions and hits are also paid, as this will add to the earnings you get from the sales commission. This is especially important if the program you are in offers low sales to be able to hit ratio.
Who is the online retailer?
Find out whom you are doing business with to know if it is really a solid company. Know the products they are selling and the average amount they are achieving. The more you know about the retailer offering you the affiliate program, the easier it will be for you to know if that program is really for you and your site.
Is the affiliate a one tier or two tier program?
A single tier program pays you only for the business you yourself have generated. A two tier program pays you for the business, plus it also pays you a commission on the on the sales generated by any affiliate you sponsor in your program. Some two-tier programs are even paying small fees on each new affiliate you sponsor. More like a recruitment fee.
Lastly, what is the amount of commission paid?
5% – 20% is the commission paid by most programs. .01% – .05% is the amount paid for each hit. If you find a program that also pays for impressions, the amount paid is not much at all. As you can see from these figures, you will now understand why the average sales amount and hit to sale ratio is important.
These are just some of the questions that needed answering first before you enter into an affiliate program. You should be familiar with the many important aspects that your chosen program should have before incorporating them into your website. Try to ask your affiliate program choices these questions. These can help you select the right program for you site from among the thousands that are available.