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While pay-per-click scheme seems easier to perform than pay-per-performance,
latter has sound reason you may have to consider:that is,
amount of commission is much higher than that of
former.Most of case joining an affiliate program is free, so no risk and no catch is involved. But certainly you have to put more effort than you do with Google Adsense. You can regard 'more effort' as a cost of 'free' and 'more commission'.
The bottom line is always to consider running Google Adsense on your blog and if you are looking more income, consider joining some affiliate programs and placing affiliate link on your blog. If you want know more about affiliate program (how it works, how to optimize, etc), you may want to pay a visit Affiliate Business Web Site. Though that web site is not aimed to bloggers, you can find lots of information about how to implement affiliate program.
When you choose an affiliate program,
most important thing you have to keep in mind is that that affiliate program must be related to your blog topic. For example, when you're talking about "car", an affiliate program about "how to make an e-book" does not make sense and won't generate any click through.
As a final word, it can not be overemphasized
importance of your blog content and traffic. Why I suddenly raise these two subject while I'm talking about how to make money blogging? Because...
- it is or must be
content that finally lead your readers click
links . - the more traffic,
more chance you get clicks.
To sum up, always provide quality blog with your reader, then add Google Adsense on your blog, join a few affiliate programs and provide those affiliate link on your blog. And
key of choosing an affiliate program is
relevancy to your blog topic.

Ryen Kim is an MBA, specialized in marketing research and analysis. His current focus is blogging and home based affiliate business as a work-at-home scheme. He is a founder of Blog Sites and running Hom Based Affiliate Business web site.