The point about 100 random clicks vs 20 targeted visitors is very true. Traffic quality matters much more than traffic numbers.
 
I agree, especially about high-ticket offers.

A beginner might see a $20 product paying 50% and think it's better than a $500 product paying 10%.

But the actual earnings per conversion tell a different story.

The $20 product gives you $10.

The $500 product gives you $50.

Of course, the expensive product may convert at a lower rate, so you have to consider the entire funnel rather than just the commission percentage.

That's why I think affiliate marketing becomes much easier once you start looking at earnings per visitor instead of commission alone.
 
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