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Forget about conversion rates.... you will drive yourself crazy. Does your sponsor count the first page, the second, or the join page? Is it a $19 signup or a 39.95... or is it a $1 commission for a free site?
Find out what you are making per visitor you ship off.
This takes a lot of work because of partnership deals and recurring revenues. But track where your traffic goes and put it all into an excel spreadsheet. You will find that you might be making less than a penny on some sponsers and 15 cents per visitor on others.
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