Add Affiliate Programs to Monetize Your Website
The primary objectives of every business website are to enhance online visibility and boost sales. However, did you know you can also monetize your website with affiliate programs? The Forex affiliate network is just one example of an affiliate marketing program that will pay you for posting links or banners on your site. You get paid when you direct prospective customers to their trading partners. If your site has a bit of traffic…this could be something for you to explore.
Affiliate programs are the least expensive marketing strategies that exist today. Besides being effective, they are a great way to sell products and services. Using the example above, working as a Forex affiliate, you would get paid for every successful client your generate for them through your affiliate links.
We are using a Forex Affiliate Program as our example. However, please note there are hundreds of other types of affiliate programs you can choose to promote including products, information, e-learning and so on.
Below is an overview of how affiliate programs work as well as a list of some of the best Forex affiliate Programs should you choose to go that route:
Understanding Affiliate Programs
Affiliate is an internet based IB (introducing broker). To earn commissions this way, you do not need an office or a staff – just a website with a good amount of traffic. The process of becoming an affiliate is simpler than you can imagine. You simply contact a business you want to affiliate with, sign up and they will give you a domain code. You will place this code on your site or as a link in an email announcement you might send. Once that is done, you are working as an affiliate. If the link you posted or emailed has a successful transaction in terms of traffic or money, you will get paid.
In this scenario, you are considered the affiliate. The merchant you are sending the leads to is considered the “merchant”
The agreement differs depending on the number of clients the affiliate can send to the merchant site, number of people who buy the products or perform some other action in line with the company’s aspirations. In simple terms, the affiliate website is compensated if it can send traffic or money to the merchant site.
Here are a few ways in which affiliates are paid.
Pay per lead: This kind of payment is calculated based on the number of clients your link(s) can refer to the merchant website. As a lead, the visitors will have to sign up with the merchant site. The visitors will have to do this by filling out a form on the merchant site and this will be treated as a sales lead.
Pay per click: In this method, the merchant website will pay the affiliate based on the number of visitors who clicked the merchant site. The affiliate payment is done in this case even without the visitor performing any action on the site including a buying deal.
Pay per sale: This kind of agreement pays the affiliate only when a successful sale is completed by the visitor directed to the merchant site. While some merchants give a percentage of the sale facilitated by the affiliate, others pay a fixed commission amount. You will want to find out what your percent or commission is in advance.
Hybrid payments: Hybrid payments combine all of the above mentioned options. This means, the affiliate is eligible to receive revenue sharing (percentage of commission per sale generated) and also cost per acquisition.
Among the Forex Affiliate Programs mentioned above, the Hybrid Payment method is the most profitable.
A few important things to keep in mind:
- Do thorough research to avoid fraudulent merchants. Read their terms and conditions thoroughly to know what the merchants, brokers and programs offer. Know what you are getting into before signing up.
- Always promote legally registered products, websites and brokers. Promoting well renowned opportunities will ensure more conversion and greater revenue.
- Look for merchants and brokers that will provide you with back-office access as an affiliate. This way you can log in and check your stats to see how many clients signed up through your link and track your payments.
- You can even test the link yourself if you choose. Sign up for the program “as a customer” using your affiliate link and see if you get paid as an affiliate. This is a great way to see if the merchant is legitimate and really pays out commissions.
Should you decide you would like to promote Forex affiliate programs, here are a few that pay well:
This is an excellent and top rated Forex affiliate program with an enviable track record of paying large commissions to their affiliates. The program offers both CPA and revenue sharing models. This program is highly suitable for bloggers and websites. Website: www.avapartner.com
Etoro offers one of the best Forex affiliate programs we’ve seen. This program shares about 25 percent of the merchant site’s profits with the affiliates. Their commission plan is called DCPA and they are one of the oldest affiliate programs. Website: www.etoropartners.com
XM Partners affiliate program compensates the affiliates based on the volume of sales by referred clients. If you think you can send them many clients, this could be the program for you. Website: partners.xm.com
Keep in mind, as with anything, unfortunately there are scams. Make sure you thoroughly check out any affiliate program you are thinking of promoting on your site be it forex, products, information, etc. Make sure the merchant is reputable and that your customers will ultimately be able to appreciate and enjoy the products you are promoting. That is probably the best way to add affiliate programs to your website.