Much has been written about joining affiliate networks like Clickbank, and finding lucrative affiliate programs that pay well.
However, there's more to monetizing your sites with affiliate programs than just programs that are lucrative. Although the overall topic of your site should influence the type of affiliate programs you decide to join, you should also consider combining different types of programs to increase your commissions.
When thinking about monetizing your business with affiliate programs, there are five factors you should consider that can help you more easily increase your commissions.
These factors are important regardless of whether you are an affiliate wanting to increase your income, or a business owner selling your own products and wanting to increase your backend income.
Although I'm sure there are more, these factors can help you increase your overall commissions when you implement them in your affiliate business.
1. Two Tier
Internet marketer Mike Merz once said that he would only promote two tier programs, so if you wanted to joint venture with him, you have to have a two tier affiliate structure.
I didn't quite understand why he said this until I studied two tier programs.
With a two tier, there are actually two ways you make money. First is through referring others to the merchant. The second is through referring other affiliates. By referring other affiliates, not only do you earn on your sales, but you also earn on their sales.
This is a major form of leverage. It allows you to earn from the efforts of others. You can create a long term passive income when you use this strategy.
2. Members' Only Affiliate Programs
With members' only affiliate programs, which can be any type of affiliate program, your biggest advantage is competition, or a lack of it.
Most members' only affiliate programs are usually memberships, and most usually have a monthly fee. Once you refer someone to the program, you can continue to earn income for as long as the person is a member of the program.
Again, what makes this type of referral more lucrative is not only do you have recurring income, but you have less competition on your referrals.