Affiliate Program Checklist
Affiliate programs can be a great way to generate income for your work from home business. They are easy to join. Usually you only have to fill out one easy form. After that you are set to start selling by using the special URL they assign you.
This is a great way to have products /services available on your site quickly. As well, this keeps your start up costs low.
Before signing up as an affiliate you should give careful consideration to ALL of the following:
Relevance to your theme
Price and quality
Support & Resources
The product(s) or service(s) of the program should be of interest to your target market. If they aren't then you won't see positive results.
Your referrals (customers) should receive a quality product at a fair price. Your reputation is important, only associate yourself with good quality products or services.
The price is also important in respect to your earning potential. If the price is too high, less people will purchase. If the price is too low, many people may purchase but your commission earnings will be small.
Commission rates vary. Some pay as low as 5% while others pay 50% or higher. It's a good idea to have at least one high paying affiliation. Look for programs that pay a commission on first buys, as well as repeat purchases by your referrals (preferably lifetime).
Review the payment plan carefully. Some programs only pay quarterly or bi-annually. Look for programs that pay at least once per month. Also, make sure the minimum amount to earn for pay out isn't too high.
Another potential income stream from affiliate programs is through second tier commissions. Find programs that pay you a commission on sales made by someone you refer to the affiliate program.
Look for programs that give you credit for a referral beyond the first visit. It's not unusual for someone to visit a site and then purchase at a later visit. The duration varies from program to program.
You should familiarize yourself with their tracking methods, and the time limit. The longer the duration the better.
It's important to be able to track your results, so look for programs that give you access to your statistics in real-time online.
Quality programs support their affiliates. They offer suggestions, tools and resources aimed at helping their affiliates succeed. You should feel that you are part of a team.
To summarize, there are good affiliate programs and there are bad affiliate programs. Your online business can earn a substantial income from quality affiliate programs.
As with any opportunity, you should take the time to review the program thoroughly and ask any questions that you might have before you join.
To sell effectively you need to be familiar with the product. A personal endorsement is the most effective sales approach of all.