I strongly feel Affiliate programs and CPA channels are the most efficient and cost effective ways to drive traffic. Pay Per Click and paid ad spots can be great, but you're not guaranteed a return on investment. With affiliate marketing you're only paying for performance and what you pay is a set amount you control.
From my perspective, if you can't afford to have an affiliate program you're doing it wrong.
The thing about CPA is you set your own price. I think the days of setting payouts based on clicks and leads are waining, but if you have a program where you set your payout based on a a paid action you're only paying money when you make money. Do your math, try to put out a competitive offer but don't over extend yourself so you're top of the heap if you can't afford it. Keep in mind competitive conversion is just as important- if not more so- than competitive commission. Keeping an eye on how your landing pages / tours convert will not just help you with your affiliate program but will benefit you across all your marketing efforts.
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