6 Factors To Consider In Earning Affiliate Commissions
If you have been in affiliate marketing and hate mathematics like me, I have to disappoint you by telling you that is crucial to your online success. Mathematics as in the following 6 factors you should consider in earning affiliate commissions.
- Statistics
To know what works and what does not, you need to learn and understand statistics. Once you become familiar with it, you should apply more of what works regularly. That will eventually balance your workload.
Apart from what works and what does not, statistics help to determine the rate of conversions in each of the marketing strategies you apply be it article marketing, blogging, classified advertising, email marketing etc.
- Speed, Level Of Understanding And Daily Activities
How much and how fast you earn is based on your speed, level of understanding and how active you are in applying what you learn to drive traffic to your sites. It can be an affiliate product or your own.
- Your Choice Of Affiliate Programs Or Products You Create
Not all programs work the same and pay the same amount of commissions. Some offer 50 per cent while others offer 60 per cent and more depending on what products and services they provide.
Some programs offer backend products in the form of One-Time Offer which will be made available to new customers after they bought. Others offer recurring commissions through membership sites whereby members pay monthly.
If you want to earn a lot of money fast, you should consider affiliate programs with those options. If you are creating and promoting your products, you should also consider adding those too since that is really where the big money is being made.
Overall before going into those, you should consider what the market wants and how best you can meet their needs with what your products offer.
By maximizing your ability and building your reputation in the process, you will be able to earn a decent income and solidify your presence at the same time.
- Products
Products play a huge significant role in your affiliate marketing success.
Apart from knowing what the market wants and matchmake them with the relevant product as solution, you need to strike a balance in the market competition. A product that has little or no demand is not worth considering unless you know how to turn it into a profitable one. On the other hand, a product that is heavily saturated will be equally difficult to promote. If you have a strong and loyal list of buyers, you do not even need to consider this.
- Market
How much you earn depends not what you do but how effective your strategies are in promoting to the market.
Overall, your success depends on the type of market you select and how much you understand about it.
You do not need a huge market. Sometimes, a small but responsive email list is more effective and likely to bring in results than big but unresponsive one.
- The Conversion Period
Once you selected most profitable affiliate marketing program and methods in terms of commissions, your next concern would be how to shorten the conversion period for your list.
The conversion period refers to the time when you generated your list of lead subscribers until to that time when he performs a desired action.
Actions vary. Apart from subscribing for free gift and buying the actual main product, he can participate in online poll and even market your product as an affiliate. Conversion periods can relatively be from 1 to 30 days.
Overall these 6 factors are what you should take into consideration if you want to generate leads and earn commissions within the shortest time possible.
