If you don’t keep accurate records of your Affiliate Marketing activities, you should be. Not only do you have to declare them to ensure you pay the right amount of tax, affiliate marketing records can also help you to improve on your earnings and identify those areas where your efforts are working – and also where they are letting you down.
Keep Records
Affiliate Marketing is a strange business in this respect. You are in total control of what you are doing and how much you are earning, but that can be as much of a bad thing as a good thing. If you keep proper records you will be able to compare those records to your various affiliate marketing efforts.
Now you might think that you have a pretty good idea of how well you are doing online. But the more separate affiliate marketing campaigns you have running at any one time, the more likely it is that you won’t be aware of how many are working and how many aren’t.
Regularly Check Affiliate Records
In short, without these records you have no way of knowing how much time you could be wasting on internet marketing schemes that just aren’t giving you the results you want. Being able to identify the dead wood and get rid of it could be the single best thing you could do to advance your business, earn more and give yourself even more free time to enjoy the extra money you will start making.
The best way to make sure your affiliate marketing records are working well for you is to check them regularly. Try and make it a once a month task to update them, and evaluate the data that you have there. Are you doing well? Could you be doing better? Jot down some ideas and put them into practice.
By doing this you could soon see a much higher income coming in, so make sure you keep those Affiliate Marketing records well up to date.
About Sean Rasmussen
Hi Sean,
Is this something that I should do even though I am not earning any money,
I am keeping track of what I am spending,
What time frame should use before deciding that what I am doing now is just not worth keeping on with.
Rita
Hi Rita,
Good questions. I would like to know as well the answer to both those questions. May be better asked in the YOTA Forum, though?
Hi Sean,
Are the records best kept on a spreadsheet on the computer or is there a better way of doing it? Not that I have much worry at the moment. I’m pretty well up to date.
I would recommend that you do need to have your records in order even for your spending. After all you will be wanting to claim your expenses against your income to minimize your tax liability when you are earning an income.
As far as how long you should continue with your endeavour to make a living will be a personal choice you have to make determined by your circumstances.
I am sure Sean will have some advice for you
Hello Sean,
It makes sense to keep good records of all your income/outcome. Around tax time it will make your life easier, and the your tax office will love you for it. I am not good with filing paper work, I usually let it build up so high that its hard to see the top of our filing cabinet!! So I am going to be changing my old habits and creating new ones. Accurate Affiliate Marketing Records, be aware because I am going to be keeping you up todate
Cheers Sean
Lisa
Hi Sean,
I haven’t set up any book-keeping system, yet. I was waiting until I started earning some money before I worried about it. It’s no wonder I haven’t made a sale yet. Clearly I don’t seriously believe I will. I must change this immediately.
Being your own boss has – like everything – two sides. You can organize your work as you want but you have to organize your work totally by yourself. And make sure you keep yourself on track.
I guess keeping accurate records of my affiliate marketing includes the moneys paid and received as well as the actions taken and results from that. If that is not done on a regular basis it is easy to loose out on valuable information about what works (ads? pay per click? banners?) and what doesn’t.
Hi Sean
As an affiliate marketer we are in business and one we are deriving an income (no matter how small initially), we are subject by law to keep all records of income and expenditure etc for tax purposes.
I would suggest that if you know how to set up a spreadsheet they are excellent for keeping track of stastistcal information for your business (excellent for affiliate marketing)and for keeping track of your income/expenses too.
Hi Elly,
A spreadsheet is a fantastic idea and really easy to set up. Sometimes the simplest ideas are the best.
Hi Sean,
As one who wants to know the ‘ins and outs’ of everything, your words are very timely. This is the season of ‘tax time’ and for nearly all of us, transferring the concepts of the PAYG system to a business focus should be fairly easy.
When we want to say we are successful financially, it will be truthful when we can see the detail. Now, to learn about spreadsheets – with all the rain we’ve been having, scratching details in the dirt has made the ‘mud-map’ unreadable!
Now that’s something I neglect – based on the fact I don’t get much! I do check Amazon – maninly because they remind me to. I have also forgotten which programs I have joined – how’s that for accuracy!
More work – but, it was something that was on my agenda.
My accountant will be very happy when I start making an income from affiliate marketing. So far I only have expenses so have quite a way to turn it into a profit. I am definately determined to get there though.