No need to have a headache trying to figure out what affiliate marketing is all about, here’s your cheat sheet:
#1. Who do I Pick?
Yes, the number 1 question when starting out, so don’t be shy in coming forward, you must do some detective work and start asking direct questions before you sign up with an affiliate program. Make sure you’re totally satisfied with the answers you’re getting. This is a crucial factor in how you will progress in your affiliate marketing venture.
#2. How Much Is This Going to Cost Me?
Well the good news is that most affiliate programs are set up with you in mind. And as a result, usually there is no cost to join. So, think very carefully before jumping in with an upfront paid option.
#3. When do I Get Paid?
Easy tiger – every platform is unique and has its own commission structure. There’s every kind of payment cycle on offer, weekly, monthly, quarterly, you get the picture, right? At the end of the day go with the one that best suits your financial needs. However, some platforms do set a minimum commission amount to be earned, before your cheque hits the post.
#4. Hits Per Sale Ratio – What’s That?
Ah, welcome to the stats, this is where the rubber meets the road. Affiliate marketing for beginners if you will. You’ll need to know what the average number of clicks to an offer that’s is needed for a sale to be generated. This tells you how much traffic is needed to generate sales, before you receive commissions.
#5. How Does All the Tracking Work?
That’s why we do some detective work upfront, because you need to be satisfied that the platform you’ve joined does what its supposed to do. Are all the visitors you brought from you’re blog to the offer being tracked? If this is not done properly, you don’t get paid. Time is also a factor because not everyone buys at first contact. They usually want to check out a review and then get back to the offer later. You need to know if you’re still going to get the sale, regardless as to when they buy.
#6. What Affiliate Marketing Stats Do I Get to Access?
Again, the platform you choose should be able to deliver comprehensive statistics to your dashboard. You should always have access anytime you need it, because you’ll need to know about impressions, hits and of course sales. And there should be a detailed description of all the terminology involved i.e.: Hits = an actual click on your link or image. Impressions = The amount of times your link or image was viewed by a visitor to your website.
#7. Do You Just Get Paid for Commissions?
Some affiliate marketing programs pay out on impressions and hits, and this can really bump up your earnings overall from a campaign. This can be crucial if the platform you’re on gives low sales as an incentive to hit the ratio target.
#8. What Can I Find Out About the Vendor?
Of course, do your due diligence, ask questions, contact them, they want a successful launch, it’s in their best interest to support their army of affiliates and keep them happy. Be a student of their products and what kind of stats they are getting. Simply put, get to know your vendor, you’ll have a better insight as to whether this is the right program for you.
#9. How Many Tiers Does This Program Have?
In most cases you only get paid for the sales you directly generate if it’s a single tier campaign. But if it’s a two-tier program you can very well be paid for sales made by any other affiliates that you sponsor. It’s possible to earn a commission fee for any new affiliate you bring to the promotion, as part of a recruitment incentive.
#10. Tell Me, How Much Commission Is Paid?
A sliding scale is the norms in this business. A 5% – 20% scale is very common, but not exclusive. Shop around and you’ll see that in evidence. However, an affiliate marketing campaign pays very little for impressions, just be aware. That’s why you’ll no doubt understand that the average sales volume as well as what we talked about earlier, the hit to sale ratio, has an immense bearing on affiliate marketing overall.
Believe me, this is just the tip of the proverbial iceberg, if your serious about affiliate marketing.
These questions not only need to be asked but answered too.
But don’t worry, you’ll soon become accustomed to the detailed steps of affiliate marketing, if you get these questions & answers done upfront, with the platform of your choice.
Then you’ll be able to sign up with the right affiliate partner, safe in the knowledge that you did your homework.
Feel free to leave a comment below, and if you have any questions, just reach out and ASK!