I agree with DrMarie that an acceptable conversion rate depends on what kind of traffic you are getting. I believe it also depends on the kind of offer your dealing with. For a cost per sale offer, I would say an acceptable conversion rate is around 5-10%. For an email submit on the other hand, an acceptable conversion rate could be anywhere from 20-30%. Again, it really does vary depending on your traffic and offer type.
Also depends on the offer. Email submits typically covert better than say a credit card submit offer. Traffic has something to do with it, but you also have to look at the offer.
Sometimes the offer might not convert at all if the traffic doesn't fit the geo.
Really depends on how targeted your traffic is, cause untargeted traffic is easy to get and it's expected to have very low conversion. If you have organic traffic from Google search, you can probably expect 1-5%. In general, the more traffic you deal with, the lower your conversions. You really can't maintain 5% conversions across thousands of visitors.
Hard to say about the conversion rate... It not only depends on you, but also on the product and the affiliate program you represent. Sometimes, the product is awesome, but the landing page or the conditions are not so attractive to the visitors... Sometimes the banner sends the wrong message... sometimes it is the size of the banner... so many factors...
I think, if you are around 2% and you get profits - awesome!
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