What To Look for In High Paying Affiliate Programs?
When considering the commission and its conversion rate, it is crucial to focus on the most significant factor – the commission. It is essential to assess the percentage of the commission to ensure it aligns with your expectations. Furthermore, it is advisable to examine the effectiveness of an offer’s conversion.
The duration of affiliate cookies varies, but it is preferable to choose a program with a longer lifespan to track your sales accurately.
When selecting a program, make sure to consider if its products and services cater to the needs of your target audience.
Before you make a decision on an affiliate program, it is important to consider whether the product will be advantageous to your intended audience and to what extent. Opting for a high-paying affiliate program that is not relevant to your chosen niche could have adverse effects in the future.
The Average Order Value (AOV) is a metric used in e-commerce to measure the average amount spent by customers when placing an order on a specific application. It is particularly useful in sales funnels that include up-sells, especially for digital products.
When selecting a platform, it is preferable to opt for one that specializes in products with high brand recognition. These products do not demand extensive marketing efforts since your target audience is already familiar with them. Depending on your specific focus area, potential examples include Nike products, Fenty cosmetics, or Mercedes models.
Financial Affiliate Programs
There are several categories within financial services affiliate programs such as bank affiliate programs, credit report affiliate programs, trading/investing affiliate programs, and budgeting/net worth tracking affiliate programs. Additionally, we have briefly explored the realm of cryptocurrency at the conclusion of the post.
There are certain products that belong to more than one category. For instance, Personal Capital provides a net worth tracking tool as well as investment management services.
Personal Capital
- Program name: Personal Capital Affiliate Program
- Network / Software: Tune (HasOffers)
Integrated in Affilimate - Commission: 100% per signup with at least $100,000 in tracked assets
- Cookie duration: 30 days
- Markets: US
We analyzed one site that linked to Personal Capital over 150 times on their site, making it one of the most actively promoted financial affiliate programs.
When breaking it down, the key factors are the product itself (and the resulting profit), which includes advanced financial technology, complimentary planning and tracking tools, and competitive affiliate rates. While their paid services target individuals who possess a net worth exceeding $100k, their free tools are suitable for all users.
High-net worth individuals often express dissatisfaction with the Personal Capital sales team. A Purple Life provides an honest evaluation on her resources page, stating, “I find their monthly calls annoying. If you have over $100,000 in your account and sign up for Personal Capital, they will contact you in an attempt to promote their investing services.”
The free personal tracking tool is loved by many users, and even A Purple Life says that the sales calls are worth it for the awesome service.
Credit Karma
Credit Karma provides lower commissions compared to other financial products, however, the promotion process is much smoother because it is a free service. Instead of persuading your audience to make a purchase, you simply need to highlight the advantages of Credit Karma’s free credit tools.
Credit Karma offers a 30-day cookie period, and you only need your leads to sign up for an account to earn money. This sets it apart from other financial services that necessitate users to make deposits or spend money for affiliates to get paid, making it a comparatively uncomplicated procedure.
Additionally, you have the option to suggest Credit Karma along with other comparable financial affiliate products, such as credit cards or banks that provide loans. This results in a distinctive chance to cross-sell and boost earnings to the maximum extent.
Credit Sesame
Credit Sesame and Credit Karma offer similar products, but Credit Sesame stands out because their free membership includes $50,000 of identity theft insurance in addition to free credit reports. Both products are free and provide slightly different value propositions, so you can promote them as complementary to each other.
It is important to note that while Lifelock offers a higher raw commission, affiliates will generally need a longer sales funnel due to the fact that their audience needs to pay for it.
When considering the conversion of an audience to a paid product compared to a free one, it is important to acknowledge that the former requires more time. Therefore, it is advisable to find the optimum point that balances both conversion volume and commission rates.
BBVA Bank
BBVA, being one of the largest full-service banks in the United States, appeals to a wide range of audiences and niches.
CIT Bank offers higher affiliate payouts compared to others, but to achieve the best conversion rates, it is advisable to suggest the bank that aligns with the specific priorities of your audience.
Here are some questions to ask when assessing bank affiliate programs:
- What types of accounts does the bank offer? Typical accounts include checking, savings, high yield savings accounts, brokerage accounts, and IRAs.
- What is the minimum required for account opening or bonus offers? What stage of their fancial journey is your audience in and does it fit this bank?
- What are the monthly fees? How can users avoid these fees?
- Does the bank offer a high-yield savings account? What is the APY for these accounts? Are there special rules or incentives to reach a certain APY?
- What are the business account options? Business owners typically have separate priorities from personal users and qualify for accounts like a SEP IRA or Solo 401k.
- How good is customer service? Can you share an anecdote from personal experience to build confidence in the product?
Other Affiliate Programs in 2023
Upstack
If your goal is to make a large amount of money as an affiliate marketer, it is strongly recommended that you consider joining the Upstack affiliate program. This program offers high commission rates to its partners and you would be amazed to learn that you can earn up to $2000 for each customer you refer who checks out and buys Upstack products.
The platform offers products related to Information Technology and graphic design. Through this program, individuals can discover highly skilled developers for their IOS or JavaScript projects. In a world that is constantly advancing technologically, numerous businesses and projects require proficient developers and graphic designers to assist in establishing a brand identity.
As a result, there is a wide range of opportunities available in this affiliate program. Collaborating with Upstack increases your likelihood of earning a substantial amount of money. This is due to the fact that, as previously mentioned, a single referral has the potential to generate up to $2000 in commission, making it one of the highest commission rates offered by any affiliate program.
This affiliate program is also referred to as a data aggregator, however, it only offers data for informational purposes. Additionally, the platform serves to promote awareness of potentially useful third-party entities by offering information and a link to access them.
WP Engine
WP Engine provides WordPress hosting for websites globally. They offer an affiliate program that pays out a minimum of $200 commission for every individual who registers for a WP Engine account. The commission increases with each new referral, and there are additional bonuses for multiple referrals.
If you send five referrals, you can earn an extra $100 on your commission. This indicates that if the number of referrals is sufficiently large, you can receive a bonus of up to $1500 in addition to your basic commission.
Amazon Associates
The Amazon Associates affiliate program is widely recognized as the most popular affiliate program across the web. They have a wide presence with their versatile ads and banners, and an added advantage is their exceptional affiliate support team that is always ready to assist you with any queries or concerns.
By following a logical progression, rephrase the passage without altering the meaning, adding new information, or eliminating any information. Amazon Associates Central grants access to Amazon’s affiliate program, enabling users to monitor their traffic and generate more targeted links if needed. Additional useful features, such as image galleries, are also available.
The commission varies by product, ranging from 4% to 10%.
ShareASale
ShareASale is a highly notable affiliate program that has gained a large user base due to its user-friendly interface. With its long-standing presence, the site provides affiliates with straightforward links, banners, and excellent support.
Like other platforms, ShareASale also offers their Associates Central platform, enabling you to monitor your traffic and sales in greater detail.
Commission amount: 20% or more.
The duration for which a cookie remains valid is 90 days.
