Some people will tell you that making money with digital products is easy and simple. In fact, it is a competitive business that requires knowledge and a strategy to even come out ahead. The good news is that there is still an army of online marketers making money with ClickBank and other affiliate networks. However, if you want to be one of them, you need to avoid the most common pitfalls and play by the site’s rules. The information below will give you a full overview of ClickBank affiliate marketing and help you avoid the mistakes others make.
The payout criteria document of ClickBank clearly states that you need to wait for the money to clear and allow for refunds before receiving payment. This means that you will not be paid if the customer cancels. While there is no monthly fee, ClickBank does have different transaction fees that are outlined here. You only get paid every two weeks if you hit the threshold. It is recommended that you set it to the lowest amount offered (currently $10) initially, but raise it later to lower transaction costs. If you earn more than $600, you will have to submit your taxpayer ID number to get paid. You will also have to meet the Customer Distribution requirement in order to get paid by ClickBank. You should check the updated criteria and the newsletters from them to make sure you comply with everything.
Some ClickBank products do indeed have a high refund rate, and there is nothing you can do about this. When paying for traffic, you have to calculate with the potential refund rate in order to avoid losing money. Some marketers say that ClickBank customers are the most notorious refund requesters in the world, and this is sometimes true. The fact that ClickBank products have a minimum of 30-day no questions asked money-back guarantee does help you sell, but will obviously increase the rate of refunds. The only problem is that if you get so unlucky that the refund rate for your products is above the “industry average”, your account can be closed by the site any time. It is not likely that this will happen, but there is a chance that you come across low quality cold traffic, and this will cost you your ClickBank account. When the site closes an affiliate account, any amount remaining below 10 dollars would be forfeited.
Competition of ClickBank affiliate marketing
You will see that there are many people promoting the same ClickBank products at the same time. The problem is that they fail to offer something different, and seasoned affiliate marketers obviously have a greater chance of dominating the markets and search engines than a newbie. Some seasoned internet marketers will have the advantage of a good reputation, and if you are just starting out, you will certainly have to build your image fast to be able to compete with the big names. You need to know that the major product creators also let their “inner circle” know about the new launch well before the product appears on ClickBank marketplace, so they can start “pre-selling” their customers on the offer. It is recommended that you also follow the main merchants in your niche and sign up for affiliate alerts to gain advantage by starting your promotion early.
Reputation of ClickBank products
Unfortunately, the reputation of products promoted on ClickBank has gone down in the past few years due to negative reviews and high refund rates. It is true that there are some dishonest marketers who have created nothing but hype products, and this has made selling ClickBank products harder in some cases. However, there are some other customers who choose to buy and try the products because they know that there would be no difficulties in getting a refund. Therefore, to choose the right product, look for something that will offer value to your readers, which has a generally low refund rate and minimum negative reviews.