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If you’ve been thinking about joining an affiliate program to earn a few extra bucks, there are a few things you should know. Take the time to research the program choices, and get straight answers. This could well be the determining factor of how much success you’ll achieve later on.
Is there a cost to join?
Most affiliate programs being offered today are absolutely free of charge, so don’t settle for programs that expect you to invest a few dollars before joining.
When are commission checks issued?
Affiliate programs can vary greatly. Some issue checks once a month, others send them quarterly, and so on. Select the one that is suited to your payment schedule requirements. Many affiliate programs have set a minimum earned commission amount that must be met or exceeded before a check is issued.
What is the affiliate’s “hit per sale” ratio?
Affiliate statistics base the average number of hits to a banner or text link it takes to generate a sale. This is an extremely important factor, as it will determine 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 how long do they remain in the system?
You need to have enough confidence in the program to be able to track people referred from your site. This is the only way that you can get credit for a sale. The length of time that those people stay in the system is also important. Some visitors do not buy initially but may want to return later to make the purchase. Find out if you will still get credit for the sale if it is completed after the initial hit.
What are the kinds of affiliate stats available?
Only choose an affiliate program that is capable of offering detailed stats. This information 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 have been generated from your site. Impressions are the number of times a banner or text link was viewed by a visitor of your site. A hit is the one who clicks on the banner or text links.
Does the affiliate program pay for the hits and impressions beside sale commissions?
It is important that impressions and hits are also paid, as this adds to the earnings you get from the sales commission. This is especially important if the program offers low sales to be able to hit ratio.
What is the online retailer?
Learn about the company you are doing business with to know if it is really a solid company. Know the products they are selling and the average sales levels they are achieving. The more you know about the company that is offering 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- or two-tier program?
A single tier program pays only for the business that your site has generated. A two tier program pays you for the business, plus it pays you a commission on the sales generated by any affiliate you sponsor in your program. Some two-tier programs even pay small fees on each new affiliate you sponsor. This is similar to a recruitment fee.
What is the rate of commission?
Five to twenty percent is the commission paid by most programs. For each hit, most pay .01% — .05%. If you find an affiliate that also pays for impressions, the amount paid is not much at all. As you see from the figures, you will understand why the average sales amount and hit to sale ratio is important.
These are just some of the questions that need answering before you enter into an affiliate program. You should become familiar with the many important aspects that your chosen program has, before incorporating them into your website. Ask your affiliate program choices these questions, and the answers will help you make the best choice from the wide variety of programs available.
Tagged with: home business • work from home
Filed under: Home Business - MYO