How much money is your website currently making from affiliate marketing?
Do you know your exact monthly earnings for each partner?
I used to only pay attention to the amount of money that was deposited into my bank account. I never cared to see which affiliates were earning my business more, or which products converted better.
Whenever I finally got organized and began to keep track of my earnings for each affiliate partner I was able to use that information to increase my monthly income.
I was surprised to see how much money each individual affiliate product or service brought in for my business. Being able to compare each item and see how and when I earned more money helped me create a strategy to continually increase my income month after month.
I am a huge geek when it comes to spreadsheets, so I made an Affiliate Tracking Toolkit to help me stay on track with my affiliate marketing strategy.
Here is a breakdown of how I stay organized and use each spreadsheet in my Affiliate Tracking Toolkit:
#1 Organize Affiliate Partners
Whenever I sign up with a new affiliate program I like to keep track of all the important details for quick reference. I used to constantly login to each individual company when I needed to get my link, or even figure out when I would receive a payment. Now, I just hop into my toolkit and have all the information I need.
To keep my affiliate products and services organized I fill out this spreadsheet with:
Product Name/ Brand Name
● Affiliate link
● Login URL
● Commission amount
● Payout details
● Any special note
#2 Track Monthly Income & Expenses
Now that I have all the important details for each affiliate program I like to keep track of my monthly income and expenses for each individual affiliate partner.
I fill this out at the end of every month.
I love looking at how much money I make for each affiliate company on a monthly and yearly basis. Not only does it help me to see when I earn more money, but I can compare each affiliate partner and adjust my strategies to help increase my totals each month.
I also take it a step further and add in any expenses that I might have accrued for an affiliate partner. These can include a product for a post or even a Facebook ad to help promote it.
This is a step that a lot of people forget. They only look at the money that is deposited into their account (like I used to) and they don’t consider any costs they may have paid to actually make that amount.
#3 Plan Revenue Goals
I always like to focus on creating monthly revenue goals for each affiliate product I promote on my website. Not only does it help me to stay on track, but it allows me to create specific action steps to reach those goals.