yup.. it can be a cheap way of getting names into a database but it's dependent on a couple of factors such as who's sending you traffic, is it pre ticked, is it incentivised (i.e cashback sites, or to earn points towards something else such as a gift) and what fields you are collecting.
In my experience the retention/active user rate after coreg sign up is usually lower than a normal sign up as the user has often opted in when signing up to something else so it's not like they've actively done a search for it and sought your product or service out so the overal CPA taking the drop outs into account may be on par with a normal sign up.
it's ok paying 10/20/50p per coreg sign up but if only one in five signed up/intend to use your site on purpose then you're paying 50p to £2.50 per actual user in effect so it's worth trialing a few other methods as a baseline such as PPC, email marketing, sign up of full form on a CPA deal first .. then once you've established a customer value/epc you can dip your toe in the coreg arena for a test and see how that compares..
it will vary depending which affiliates are allowed to push it, some will do good with it.. some may need a cattle prod to keep the data of decent quality ..
Have a word with John at Co-registration made easy at easycoreg.com he'll probably have more accurate figures and steer you in the right direction
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