This day and age there are literally millions of different affiliate products to promote. There are affiliate marketing networks, such as Clickbank, Commission Junction which have thousands of products to find and promote, and there are also independent affiliate programs that don’t belong to an affiliate network. Finding the best affiliate marketing program just takes a bit of research. But how do you differentiate which one’s are the best, most profitable, and most worthwhile to promote?
Choosing the best affiliate marketing program in your niche can help you become more profitable with your affiliate marketing efforts and quicker because the affiliate marketing program converts better, and provides more mechinisms for better profits.
In this blog post I wanted to discuss what some of those ‘mechanisms’ are that make an affiliate marketing great, as well as some other features to look for in an affiliate marketing program.
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A High Converting SLO
SLO means a Self-Liquidating Offer, and has to do with what is being promoted on the Front-End. The reason why it is called a SLO is because it’s purpose is to mitigate or eliminate the cost to acquire the customer.
So for example, if you are running an advertising campaign and it costs you around $10 in advertising to bring in a paying customer, then your SLO should provide you with at least $10 in commissions on the front-end.
This mechanism allows you to scale your advertising campaign because you no longer have to worry about coming up with advertising dollars to invest, because your marketing campaign funds itself indefinitely.
High Value Upsells
The next mechinism that you want to look for are high value upsells that are really no-brainers for the customer to purchase along with the SLO product. It could be an upgrade of features, and upgrade to yearly membership, or a high ticket coaching program. After essentially mitigating your costs with the SLO, this is where you profit lies, and what is going to allow your business to propel itself forward.
Continuity is what makes this business sustainable. The ability to sell something once to a customer, and then be paid on it for months and years to come. This is where your lifestyle income comes because it sets the baseline for what you can pay yourself (salary). The SLO and High Ticket Upsells might flucuate from time to time, so they are not as predictable, but continuity programs create residual income. So when trying to choose the best affiliate marketing program, make sure it has recurring payments of some kind, it might not be every month, but every year.
If the affiliate program that you come accross doesn’t have any continuity program, that is ok as long as the commission that you receive exceeds the average lifetime value of your customer.
Other Things To Consider
Other things to consider when considering an affiliate program are:
- Do they provide you with affiliate tools?
Sometimes an affiliate program will provide you with a myriad of tools that you are allowed to use in your marketing. At the very least they should provide you with some banners and product images that you can use to promote the product on your own web properties. But sometimes they provide you with promotional videos, articles, and even bonuses.
- Is the product selling well?
Although this metric might not be publically available for all affiliate programs, Gravity is a metric coined by Clickbank which basically is the number of affiliates who earned a commission over the last 12 weeks. So if the product has a high gravity, it means it should be easier to sell and earn affiliate commissions.
What is the refund rate?
Not all affiliate products are going to give a good customer experience. Sometimes the product can be full of bugs, provides little value to the user, or has compatibility issues. You need to look at the feasibility of the product in the current market condition. If the product has a high refund rate, there could be something wrong. You will want to avoid it for now, at least until they can work out the bugs.
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Final Thoughts About The Best Affiliate Marketing Program
I personally am part of dozens of different affiliate programs. Some are good. Some are bad. Some are just ok. The key is to find the best affiliate marketing program in your niche that has as many desirable characteristics mentioned in this blog post. By focusing on the best affiliate programs out there, you greatly increase your chances of success in the affiliate marketing industry. If you have any questions about this topic leave a comment down below, and let me know that you were here.
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