EPC (earnings per click) is the average commission an affiliate earns for each click sent to an offer: total commissions divided by total clicks. If 2,000 clicks earn $1,200 in commission, the EPC is $0.60. Because it folds conversion rate and payout into one number, EPC is the standard way to compare offers with different payouts or commission models on the same traffic.
Affiliates use EPC to decide where to send traffic, and brands use it to see whether their program is competitive. If you run a program, MassPartner's brand platform reports clicks, conversions and commissions per affiliate, which are the inputs you need.
The EPC formula
EPC = total commissions / total clicks
Awin's glossary defines it the same way: commission within a certain timeframe divided by the number of clicks generated (Awin). Some dashboards show EPC per 100 clicks to avoid small decimals, so check the unit before you compare numbers from two sources.
Three definitions change the result, so fix them before comparing:
- Approved or all commissions. EPC on pending conversions overstates earnings if some are later rejected or reversed.
- Raw or unique clicks. Unique clicks give a higher EPC than raw clicks on the same traffic.
- Which period. Ideally, count the commissions earned by the clicks in the period, not every commission booked in it. The difference is large on RevShare, where commission keeps arriving for months.
EPC calculator: three inputs
You don't need finished commission totals to estimate EPC. It breaks down into the metrics you already track:
EPC = conversion rate x average commission per conversion
For percentage-of-sale (CPS) offers:
average commission per conversion = AOV x commission rate
so EPC = conversion rate x AOV x commission rate
Example: three offers on the same 2,000 clicks.
| Offer | Model | Conversion rate | Commission per conversion | Conversions | Commission | EPC |
|---|---|---|---|---|---|---|
| A | $40 CPA | 1.5% | $40 | 30 | $1,200 | $0.60 |
| B | 8% of sale, $150 AOV | 4% | $12 | 80 | $960 | $0.48 |
| C | $90 CPA | 0.5% | $90 | 10 | $900 | $0.45 |
Offer C has the highest headline payout and the lowest EPC. Offer A wins on this traffic because its conversion rate more than makes up for a smaller payout. On different traffic, the ranking can flip, which is why EPC is always measured on your own clicks.
EPC by commission model
The same logic applies to every model; only the "commission per conversion" input changes:
- CPA or CPL: conversion rate to the paid action multiplied by the fixed payout.
- CPS: conversion rate multiplied by AOV and the commission rate, as above.
- RevShare: commission keeps accruing after the click, so measure cohort EPC: commission earned so far by the clicks from one period, checked again at fixed points such as 30, 90 and 180 days.
- Hybrid: add the CPA part and the RevShare part per click, and compare like with like over the same cohort age.
EPC vs conversion rate vs AOV
| Metric | Formula | What it answers | Blind spot |
|---|---|---|---|
| Conversion rate | Conversions / clicks x 100 | How well the traffic converts | Ignores how much each conversion is worth |
| AOV (average order value) | Sale amount / number of sales | How big each order is | Ignores how many visitors buy |
| EPC | Commissions / clicks | What one click is worth to the affiliate | Hides whether a change came from conversion rate or payout |
Awin defines conversion rate as the percentage of referred customers who made a purchase, and AOV as sale amount divided by the number of sales (Awin). Read the three together: if EPC drops, the breakdown above tells you whether fewer people bought, they spent less, or the commission changed.
Is there a good EPC?
There is no universal benchmark worth quoting. EPC depends on vertical, geo, device, traffic type and commission model, so an iGaming RevShare offer and a retail CPS offer can't be compared on one scale. Network-wide figures are blended averages across every affiliate's traffic, and CJ points out that a major influx of clicks can drive such averages down (CJ).
Two comparisons are more useful than any industry figure:
- EPC against your cost per click. EPC is the most you can pay for a click and break even. Example: if you buy clicks at $0.50, Offer A above returns $0.60 per click, a 20% margin on spend, while Offers B and C lose money.
- EPC over time on the same offer and source. A sudden change tells you something moved in the funnel, the payout or the tracking.
How affiliates use EPC
- Choosing offers. Split the same traffic across two or three offers and keep the one with the higher EPC after enough clicks to trust the result.
- Setting bid ceilings. For paid traffic, your maximum cost per click is your EPC minus the margin you need.
- Finding weak segments. EPC per traffic source, campaign or placement shows what to cut. Our guide to sub ID tracking shows how to label traffic so this breakdown is possible.
- Allowing for lag. On RevShare deals, early EPC understates the value of a click because commission keeps arriving. Recalculate after one or two payment cycles.
How brands use EPC
- Competitiveness. Affiliates rank programs by what they earn per click, not by headline payout. Networks bake this in: Awin's Index score for advertisers combines four metrics, conversion rate, approval percentage, validation period and EPC (Awin).
- Tracking health. CJ lists a dramatic decrease in EPC among the signs of tracking problems, alongside healthy click volumes with few conversions (CJ). A sudden drop for all partners at once usually points to tracking, not traffic.
- Partner diagnostics. EPC by affiliate shows which partners are pulling the average down, so you can review their traffic instead of changing terms for everyone.
- Commission planning. Before raising a payout to attract partners, estimate the EPC it produces with your current conversion rate. Our guide to affiliate commission rates covers how to set them.
How to improve EPC
Brands have more levers than they often use:
- Fix tracking loss first. Every unattributed sale is lost EPC for the partner. Moving to server-side attribution, as described in our guide to cookieless affiliate tracking, recovers conversions without paying more per sale.
- Raise conversion rate on affiliate landings. Faster pages, fewer form fields and offers that match the affiliate's promise lift EPC for every partner at once.
- Approve faster and reject fairly. Rejections and long holds lower the EPC affiliates actually see.
- Support deep links. Let affiliates send visitors straight to the product they reviewed instead of the homepage, so the click lands where the intent is.
- Adjust commission last. A higher payout raises EPC proportionally, but so does a better conversion rate, and only one of them costs margin on every sale.
Affiliates can raise EPC by matching offers to their audience and geo, warming visitors up with honest pre-sell content, testing creatives and cutting sub IDs that send clicks but no sales.
Track the numbers behind EPC
MassPartner reports clicks, conversions and commissions for every affiliate and campaign, with CSV exports and fraud checks on every click. Brands can see how it works on the brand platform; affiliates can compare programs in the marketplace.
FAQ
How do you calculate EPC?
Divide total commissions by total clicks for the same period. For example, $1,200 in commission from 2,000 clicks is an EPC of $0.60.
What is a good EPC in affiliate marketing?
One that is higher than what your clicks cost you. There is no universal benchmark, because EPC varies with vertical, geo, traffic type and commission model.
Is EPC the same as CPC?
No. CPC (cost per click) is what a click costs you, or what a CPC campaign pays per click; EPC is what a click actually earned in commission. Paid traffic is profitable when EPC is above CPC.
Why is my EPC different from the network's EPC?
A network EPC averages every affiliate's traffic on that offer. Your traffic source, geo and audience produce their own conversion rate, so your EPC can be much higher or lower.
Should EPC include pending commissions?
Use pending commissions for early signals, but make decisions on approved ones. Programs with a hold period can reject part of what is pending.