You’ve spent a great deal of time building your website, social profile page, and video channel.
People visit daily, and you’ve built an audience that trusts you.
But despite your best efforts, your financial results are lackluster compared to where you thought you’d be. Ad platforms take such a large chunk that you’re left with very little revenue, and attracting new advertisers is difficult in a sea of tens of thousands of other websites.
Working on the internet can be challenging, but there is one straightforward yet powerful way to start monetizing your content immediately.
What is an affiliate program?
Affiliate referral programs are offered by websites that sell products or services online.
As an affiliate, you can refer users to these websites, and when your referred visitors make a purchase, you are compensated with a referral commission.
Unlike Cost-Per-Click or Cost-Per-Impression ad platforms that pay you for displaying advertisements or having users click on an advertisement, affiliate programs use a Cost-Per-Acquisition model. This means you get paid if you refer a targeted, quality user who completes a purchase.
There are various methods for how affiliate programs are structured. Finding the right one can mean the difference between making just a few dollars per week or creating an entirely new sustainable revenue flow.
7 Things Look For In An Affiliate Program
The Cannabiva affiliate program is an excellent example of what to look for when searching for a referral partner.
Visit their partner page here to see why: https://www.cannabiva.com/cbd-affiliate-program/
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Generous Referral Commissions
Referral commissions are your bread and butter, so finding an affiliate program with a generous compensation arrangement is necessary for success. Look at product price points and the percentage you’ll receive for each sale when determining if a program is right for you.
While some affiliate programs may offer lower percentages, they may have high price points, meaning each sale could generate a large referral. Other programs may give high commissions with low price points, so even if your referred visitor makes a purchase, you may need more of a commission to make it worthwhile.
Some products have great price points on single or package items while offering competitive referral commission percentages of between 20% and 30%.
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Multiple Referral Methods
You may have a website, social media channel and also offer video streaming or podcasting. To effectively create revenue, you’ll need to be part of a program that lets you refer visitors in multiple ways, depending on the medium you’re using to reach your audience.
Referral URLs that contain a unique affiliate ID account code are the most common method of referring users. They work best for referring visitors via direct clicks of a link on a website or social media channel. But such links don’t work for people who may be watching you stream a product unboxing or discussing a product in an audio podcast.
Look for programs that offer multiple methods of referring visitors, including coupon codes linked to your account and custom landing pages that you can share with users.
This way, you can target specific referral methods to particular audiences.
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Lifetime Commissions
Referring a visitor to a website and earning a commission on a sale is great. But you want to create a passive flow of income.
Some affiliate programs offer referral commissions for the life of your customer. Once they make their first purchase, they are permanently linked to your account, and you’ll earn a referral commission every time they return for a purchase.
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Recurring Product Offers
Products purchased with subscriptions can be a lucrative way to make passive income, especially if you receive lifetime commissions for your referred visitor.
If given the opportunity, find products that allow customers to sign up for monthly deliveries or subscription programs.
You’ll earn a commission from these sales on a regular, recurring basis.
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Long-Duration Cookies
While some visitors to a website may make a purchase right away, others will take time to research a product for a few days before buying. Others may have to wait until they receive their next paycheck to complete a purchase.
Be sure to join an affiliate program that has a long-duration cookie.
A cookie is a piece of code dropped into a user’s browser when they visit a website. Almost all websites use them to track specific types of activity.
Good affiliate programs will have cookies that remain in a user’s browser for 30 to 45 days, so if a customer purchases within that period, you’ll still receive your commission.
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Regular Payments
You probably have many expenses with your online business, including web hosting and paying designers or developers to make improvements and updates.
This means you need regular revenue flow to ensure your bills are paid.
Find affiliate programs that pay you at least once or twice per month.
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Partner Support
Successful affiliate programs have support teams ready to assist you with any issues.
You may also want to create specific marketing campaigns that cater to your audience.
Look for companies willing to work with you if you need unique coupon code promotions, custom email broadcasts, and banner designs.
Summary
There are many affiliate programs available. Most large and medium-sized brands offer some sort of visitor referral compensation package.
If you already use a particular product or have found products online that are popular with your audience, try setting up an affiliate program and sharing reviews and personal experiences with your users.
If your audience trusts you, they’ll also trust your recommendations and help you build your web business along with you.
Interesting Related Article: “The Top Benefits Associated With Performance Marketing Affiliate Programs“