one experience with affiliates
I have over time had a range of affiliate programs, adsense and companies buying ad space on a CPM basis.
Occasionally I have had affilate income that worked out at an incredible CPM for me (relative to adsense and what I would charge someone) but it rarely lasts with any given program. I also have had experience with major brands clearly not paying out properly on an affiliate program and it really dents my confidence. They were provided details of transactions that didn't track, apologised and credited me with the amount, but it hardly inspires.
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I used to spend quite a lot of time rotating affiliate programs to provide appropriate offers to my users based upon my content, but frankly the time it took was so long. These things needed to be checked all the time as companies left the affiliate networks, or they changed their terms to screw you over, or they didn't convert - or in one case they just went bust!
Adsense on the other hand is fire and forget. Sure I make a low CPM rate off it, but it is ZERO hassle. It updates itself to be relatively appropriate, and I trust Google to pay me (being kicked out aside) regularly and mostly on time. The time I spent playing with affiliate programs was time I could have spent doing other things to make money, and has to be taken into account.
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If your site is making 6 figure sums a year through its advertising, then it's well worth squeezing out maybe another 20% income from it with affiliates. If you are making 10k a year, and you spend a couple of hours a week rotating programs for the best return, are you really up on the deal overall?
Convenience and reliability of payment are always the main selling points for me with adsense, because I value my time too much to play around with the alternatives.
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As the sites got bigger, I was contacted by companies wanting to advertise direct, and that is the best money maker of all for me and I rarely have any space left for affiliate programs now. Of course, this assumes you have content that someone would specifically want to advertise on....
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