Good review, Petra! One tip that I would add is that the Amazon Affiliate program (there’s another keyword repetition for you 😉 tends to work really well around Christmas time — even though Amazon’s commissions are small, people tend to be buying a lot of gifts at the same time, so if you can get them to click through your site you can end up getting credit for a lot of purchases!
These ideas opened my mind. I am looking to try affiliate marketing for a long-time, but stuck on adsense. I am now looking to decide a niche for affiliate, I know how to SEO sites to rank high. I have a question; how do we decide the best niche/sub-niche based on competition? Because SEO is the only method I can rank my sites, and bring traffic, and if there is less competition on top, then only we can rank the sites. How do we know which site has less competition/good traffic? and could you suggest some niches which match this criterion?

I kept on squandering to pick a best workable niche for affiliate marketing that has to offer me some decent income. Still, I couldn't stick to anything. By reading this article you have narrow down my options to explore. Now, I can filter out one of these few suggestions that deserve to be successful. Thanks for sharing few top blogs in each niche to navigate and get more ideas on a particular topic.

In simple terms, affiliate marketing means selling another person’s or company’s products and services. It’s like a referral service. You set up a website or blog and join affiliate programs that are relevant to your audience. You can connect to these programs through affiliate networks that provide you with a link that you include on your site. When someone clicks the link and purchases the product or service you’re marketing, you receive a percentage of the sale proceeds as a commission. 
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Theme – you don’t need a special theme for affiliate marketing, you probably just need a blog. I recommend StudioPress themes since that’s what Yoast, Matt Cutts (from Google), and I use. Matt Mullenweg, founder of WordPress also recommends them. One of the biggest mistakes I made was using a theme from Themeforest… since they’re built by independent developers who may stop making updates to their theme. This happened to me and I hear horror stories all the time about people having to switch themes and redesign their entire site. I’ve been using the same StudioPress theme (Outreach Pro) for 3 years. Their themes are lightweight (load fast), SEO-friendly via optimized code, secure, and they have a huge selection of plugins for the Genesis Framework and an awesome community in the Genesis WordPress Facebook Group. They include documentation for setting it up and will serve you for many, many years.

To find a good program, start first with companies that are large and trusted. They generally offer lower commissions, but that is because they actually pay their commissions. Once you know which programs are interesting, scour the web to find out if they actually pay. You don’t want to put in the work, over months usually, just to find out that the company won’t pay. Finally, make sure that the program has a support system in place. The best programs should not only be in touch when you first sign up, they should also email you when you make sales, keep you up to date about earnings, and be available for problem-solving and troubleshooting.
While I was doing WordPress speed optimization I noticed lots of people needed it, but very few people supplied it (there were a lack of services and tutorials when I researched Google). I also knew hosting was the #1 factor of website speed factor and these companies paid up to $200/sale. Hosting is a competitive space but the commissions and lack of supply enticed me.
I agree with you that the most important thing you can do at the start of your affiliate marketing career is to work out your WHY? Affiliate marketing is actually hard, hard work – especially in the beginning when you have no traffic and no followers. If you can’t figure out why you should be spending hour after hour on this “hobby” then it will never grow into a full-time income producing business. There is lots of great advice here for people getting started and people looking to get extra sales and give their career the extra boost they are searching for. Cheers
An affiliate marketing program is a lot of work, and in most situations there's a lot of competition so you're not going to be bringing in money immediately. Business owners and entrepreneurs suppose that all you need do is setup a site and choose an affiliate to associate with and then just let it run its course. But according to Three Ladders Marketing, only 0.6% of affiliate marketers surveyed have been in the game since 2013. That means that affiliate marketing takes time and effort to build and make money.

On the other hand: the main reason of bankruptcy for small businesses is bad financial management. Simply said: to forget to make invoices, not checking the payments and not following bad payers. 1 out of 3 is going bankrupt for this reason alone. I had to learn it myself. I spend at least 10% of my time with financial stuff. I don’t love it but the bills get payed ;-)

I had a chance of looking at how much some CPA marketers are earning. My jaws hit the floor. How can anyone make 32k in a day? It is not some Photoshop screenshot but the CPA company interface allows earning shouts which is drawn live from the system and displayed on a live chat. That’s where I saw those big figures. Remember I said 32k in a day not in a month. Now that is insane. This gives you some idea how: http://x.co/9RnqK
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