What on earth does this mean?

It means that just because the rest of the world is on the Internet promoting their brands, it doesn't mean they aren't or shouldn't be continuing to utilize traditional offline marketing strategies that are working. With all the hoopla about SEO, Facebook, Youtube, Twitter and the tons of other social networking sites, small business owners might be led to believe that they have to do a total about-face in their marketing efforts and jump into the Internet with both feet without looking back. Instead, they need to analyze, evaluate and strategize.  Read more... (387 words, 1 image, estimated 1:33 mins reading time)

Pricey Affiliate,

I have dangerous news for you: You are in all probability losing money and you did not listen to it! Let me explain...

When you joined affiliate programs you almost certainly thought of the subsequent factors:

- The commission
- The conversion rate

The profit formula appearance sort of a child play: Commission x Conversion Rate = Your Profit

After all there are 3 massive pitfalls here and if you don't manage them properly, your profit is at risk. Let take into account them:

- Worth: A high price means a better affiliate commission for each sale however it could result also in a lower conversion rate… If the product is simply too expensive, no one can buy. You mustn't be blinded by the promise of a very high commission. You ought to remember that the simplest price is not the one that provides you the very best commission but the one that makes the very best profit. An optimized pricing that creates satisfied customers and happy affiliates is what you must look for.

- Refund Rate: Refunds will kill your marketing efforts! What are price the sales you see in your account if customers request their cash back? A ton of sales mean nothing unless you retain the money!
This is often the whole responsibility of the merchant to stay refunds as low as possible. A web site that sells well is good. A website that also keeps refunds terribly low is much higher! There is solely one method to keep refunds terribly low: To deliver very high quality services meeting customers' expectations or going beyond what they might expect!

- Product Quality: Quality is king! Quality makes superior conversion rates! Quality enables higher prices and better commissions! Quality keeps refunds as low as potential! In an exceedingly word: Quality ought to be your compass. Do not associate your business with low quality merchandise or services. On the prime of your list, promote solely the very best. It can conjointly keep your profit on top.

How abundant cash are you losing these days?

The cash you earn and lose is significantly determined by the quality of the affiliate program you have selected as your prime pick.

The query is: How do you measure what is a lot of qualitative and what is less?

There's an objective criterion to use for answering this question and for optimizing your profit: The refund rate of your top affiliate program!

A high refund rate specific clearly that heaps of consumers don't seem to be satisfied with what they get which affiliates lose cash on their sales. On the contrary, a low refund rates indicates a high level of satisfaction among customers and safe earning for affiliates.

If you get many refunds with your top affiliate program, you must perceive that the standard of this program is not sufficient for keeping these customers happy and it doesn't do the necessary job for securing your profit… You're losing cash!

What are smart, medium and poor refund rates?

Refunds can't be totally avoided. There will continuously be customers that are not glad even for the foremost qualitative product or service. Therefore, expecting a zero refund rate on the long term isn't realistic. You should would like a refund rate as low as potential in your industry. It is important to think about that there will be significant variations from one trade to a different but as a rule you'll use the subsequent scale:

two% or less: Wonderful
three% - 5%: Smart
six% - ten%: Medium
11% - fifteen%: Poor
16% - twenty%: Very Poor
21% or higher: Run away!

With a 5% or less refund rate you'll be able to be happy. Your affiliate program is reliable and your profit is secured. With a half dozen%-ten% refund rate, you should monitor closely your merchant performance to ensure it doesn't get worst. It'd be advised to scan the market for a higher alternative if you'll find one. With an eleven%-twenty% (or higher) refund rate you should be very involved with your profit. Whatever your business is, you are bleeding and there's in all probability a better affiliate program to promote.

What is the refund rate of your high affiliate program?

There are 2 ways that to seek out the refund rate of an affiliate program:

one) Take a look at the stats equipped by your affiliate program

Do your math as following: Refunds / Sales = Refund Rate

Let say you make 1000 sales per month, you get a $23.50 commission per sale and concerning 160 customers request their money back each month. Your refund rate is one hundred sixty / a thousand = 16%. In that case it means that that you should have earned $twenty three,five hundred for your sales but you may get solely $19,740 because of the refunds. You lost here sixteen% of your profit or $3,760!

You'll ask yourself: Is it only I or all affiliates for this program get similar numbers? If you utilize Clickbank to push affiliate programs, you can get the massive picture regarding the whole community of affiliates that promote an affiliate program.

two) Using Clickbank payout stats to calculate the average refund rate of an affiliate program

In its marketplace, Clickbank publishes payout stats for affiliate programs. The $Earned/Sale factor provides us exactly what we want to calculate the common refund rate of a program.

The $Earned/Sale is the typical internet quantity earned per affiliate per referred sale. This variety is principally impacted by refunds and it reveals the real commission earned by affiliates. With this number, you'll be able to have an inner have a look at the important performance of affiliates programs.

The typical refund rate of an affiliate program is:
(Commission - $Earned)/Commission = Average Refund Rate

What's the refund rate of widespread affiliate programs at Clickbank?

For example, we have a tendency to have looked at three affiliate programs selling paid surveys databases. We tend to have found their refund rates very high! You may be stunned at discovering how much cash affiliates can lose when promoting these programs:
- SurveyScout: 16.two% refund rate!
- Survey Platinum: 20.9% refund rate!
- My Shopper Survey: 35.a pair of% refund rate!

To urge into the details, on November 29th 2005 figures were as following:

SurveyScout
Affiliate Commission: $23.50
Average $Earned/Sale: $19.69
Refund Rate: (23.50 - 19.69) / 23.fifty = 16.two%
Example: For one hundred referred sales you should earn $2,350. After all you will get only $1,969 as a result of sixteen customers out of 100 have requested their cash back!

Survey Platinum
Affiliate Commission: $23.fifty
Average $Earned/Sale: $18.58
Refund Rate: (23.fifty - 18.fifty eight) / 23.fifty = 20.9%
Example: For a hundred referred sales you ought to earn $two,350. In fact you may get solely $1,858 because twenty one customers out of one hundred have requested their money back!

My Client Survey
Affiliate Commission: $40.eighty four
Average $Earned/Sale: $26.forty three
Refund Rate: (40.eighty four - 26.forty three) / 40.84 = 35.a pair of%
Example: For a hundred referred sales you should earn $four,084. In fact you may get only $2,643 because thirty five customers out of one hundred have requested their cash back!
Remark: My Consumer Survey encompasses a poorly designed site and a high worth for buyers. We have a tendency to estimate its conversion rate to be considerably not up to different paid surveys programs. Despite its high commission, affiliates can lose the foremost money with this program.

We learn 3 lessons about these paid surveys affiliate programs:
- A ton of consumers are dissatisfied.
- Affiliates lose massive money.
- The standard of those programs is terribly questionable.

What should you are doing to stop the bleeding?

You've got no influence on the quality of the affiliate programs you promote. Your only real influence is on the standard of your recommendation!

Giving your high recommendation to a very professional affiliate program that delivers the utmost quality services to customers can keep your profit as high and as safe as possible.

In the field of paid surveys and mystery searching jobs, the foremost skilled program obtainable nowadays is MaximumPaidSurveys.com.

Most Paid Surveys may be a premium database of paid surveys and mystery shopping jobs. It delivers a superior worth to each registered users and affiliate partners because of its terribly high quality.

How to identify quality in affiliate programs?

Defining quality is a troublesome job. Normally, people cannot outline clearly what quality is but they recognize it after they see it. Therefore what ought to you take a look at in affiliate programs?

The foremost qualitative affiliate programs find the proper balance between the price they provide to customers and therefore the price they generate to affiliates:

1. Value to customers – It includes:

- Wealthy content
- Smart trying website
- State-of-the-art organization
- Friendly functionality
- Reasonable Worth for most visitors
- Detailed documentation
- Bonuses strengthening the main offer
- Timely Customer Support


2. Value to affiliates – It includes:

- High conversion rate
- High commission
- Low refund rate
- Commission paid on time
- Sensible affiliate support

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Once you've made the decision that operating a business as an affiliate, there are several details you really need to pay attention to prior to signing on and promoting a particular vendor or merchant. Make no mistake about it - affiliate marketing can be one of the most lucrative business models, as long as you pay attention to the details and understand the terms and conditions of the merchants / vendors or affiliate networks you choose to align yourself with.

My Top Ten List Of Key Details You Must Pay Attention To:

1. Method Of Payment

The reason we are all here. You've got to know exactly how and when you'll receive payment. Some merchants and networks will allow you to choose how you are to be paid. Many will offer payment by check or via PayPal. Some will simply send a check at the end of the month, others will wait for a specified period of time, and others will permit you to choose when payment is made by determining a particular threshold. For example, you may be able to say you want to be paid when earnings reach $25 or other figure.

Be sure to check on the currency commissions are paid in. You don't want to be shocked when your payment is sent in IQD. (Iraqi Dinar)

Also - be sure to check an see if the vendor holds commission back for a period of time to cover for potential customer refunds. Most won't do this, but it's important to check.

2. Commission Structure

You have to know what the commission structure is in order to plan your marketing efforts accordingly. Some will pay a flat figure per sale, while others (most) will pay a percentage. You also want to find out if a particular vendor increases the percentage they will pay you if you have an increase in volume. Another thing you've got to be aware of is if the product(s) you are selling has a recurring commission based on a monthly fee charged to the customer. Some vendors won't include this monthly fee as a commissionable sale. Many do, so make sure the vendor you are working with does. Having the commission information from various programs is critical when comparing the various programs you may want to join.

3. How Are Refunds Handled?

You need to know exactly how refunds will impact your commission. Is the commission lost? If the expect the commission back, when is it deducted from your account?

4. Record Keeping

Any affiliate program worth its salt will provide you with a way for you to track your clicks and sales. You should be able to view what is owed to you at any given time as well as a history of payments and adjustments made to your account. Look for programs / networks that update at least daily. Real time is even better.

5. Stats Tracking

A major frustration that many affiliates have with vendors is that some don't provide you with a way to view your statistics for your affiliate link. Having run a major affiliate program in the past, I know how critical this is. You absolutely have to know how many times your links are being clicked on and how many of those clicks are turning into sales so that you can adjust your marketing efforts when needed. If you don't have this information, you can and probably will be wasting marketing dollars.

6. Cookie Operations

This is another critical area that you need to understand. Cookies are used to track your affiliate link. Let's say someone clicks on your link today, but decides not to buy. That person comes back directly to the site next month without using your link. A cookie ensures that you'll still get credit.

You are looking for vendors that offer long term cookies - say 60 days. If your vendor only offers a 7 day cookie and the customer comes back next month - all due to your marketing efforts the previous month - you are out of luck!

Something else you want to know is if the first or last cookie is the one the vendor goes by. For example, if someone clicks on your link one day, but clicks on another affiliate link next week and makes a purchase, who gets the sale. Both first and last cookie methods are valid, but you need to understand which one is in use.

7. Limits or Exclusions

Be sure to read the affiliate agreement carefully. Some vendors won't allow you to promote in a certain way, or to promote specific products. Failure to comply with specific limits or exclusions can result in a forfeiture of your commission.

8. Penalties

Know exactly what the penalties are for an unwitting violation of the vendors terms and conditions. Hopefully this won't be an issue because you've read the terms and conditions carefully, but mistakes can be made. Just know how they will be handled.

9. Restricted Marketing Strategies

It's fairly commonplace these days that companies restrict various methods of marketing their products. Most restrictions pertain to the use of email, but many are also limiting the keywords you can use, or even the use of Google Adwords. There may be no restrictions in play with the company you want to become an affiliate for, but you need to pay close attention to this and adhere to the restrictions, if any.

10. Creative Provided

This is an area that is often overlooked by perspective affiliates. Before you sign on with a company as an affiliate, make sure there is a wide range of quality materials to promote the product(s) you are interested in promoting. This is important because if there are no materials, your job is going to be much tougher. If there are materials, but they are not of high quality, that will present an issue as well, especially if you are restricted from producing your own materials.

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