The owner of the product has to do that. You will however, have money deducted from your affiliate checks if people ask for refund. But you will not have to actually worry about getting them their money back or dealing with their complaints. This may not always be the case. People may complain to you if they didn’t like a product that you endorsed. Simply refer them to the product owner.

There is a down side to affiliate marketing. The major disadvantages are that there is a real possibility that you can be ripped off. You can spend a lot of money advertising a product, only to never receive an affiliate check. You are forced to share the profits that you generate with the product owner. You also can not make changes to the sales page in order to increase conversions. You might find a product on a hot topic, but the sales page sucks which cuts into your conversions. There is really nothing that you can do about it short of contacting the owner and offering to help them with their sales page.

The advantages of owning your own product are that the money that you earn is all yours. You don’t have to share it with anyone else. You can also recruit affiliates to sell your product for you. This allows you to make money without doing any work if you have recruited a sufficient amount of affiliates.

Some of the disadvantages of owning your own product are that you do have to pay for product development. You will have to write, create or outsource the writing of the e-book and the sales page. You also have to deal with refund requests, and complaints.

There are benefits to both being an affiliate marketer, and selling your own product. When deciding which is right for you, consider the money and time that you have available to create your own product if you’re thinking about going that route. For Internet marketing newbies, it is generally best to start with affiliate marketing and to only work with top affiliate companies such as Clickbank, Linkshare and Commission Junction. These affiliate portals have a great reputation for sending out timely payments.

1. Affiliate Marketing: Affiliate marketing is a fast way to start making money quickly. Because you don’t have to worry about creating or designing your own product, you can get started quickly. You are a given a link to a completed website and the only thing that you have to do is to promote it. While this used to be far easier a few years ago, it can still be very profitable. It will just take a little bit more work. Consider creating a simple website that provides information on the same topic as the affiliate product you are trying to sell. Be sure to collect email addresses, as you may be able to market other products to this same group. Market affiliate products using articles, social networking sites, forums and pay-per-click.

2. Selling Your Own Product: Selling your product is another great way to make money online. Depending on how you go about your product development, this could be a fast or slow process. One way to speed it up, if this is a concern, is to purchase PLR rights. Often times Private Label Rights come with a ready made website. For a few bucks, you have your very own e-book and website to sell it from. However, this method has its’ disadvantages, namely, other people will be selling the product and perhaps for cheaper. To combat this, consider, re-writing the sales letter and purchasing new graphics. Also add special and unique bonuses to make your offer appear more attractive.

3. Ebay: Many people are still making money on Ebay. Ebay has cracked down on digital products. However, you can still sell them, just put them on CD and send them out. You can also use the classified ad format listing to sell digital products. I use it and have had some success. If you want to sell physical products, find a good drop shipper or wholesaler.

4. Offering Services: If you have a marketable service, this is a good way to make money. Many people make money by writing articles, Press releases and site reviews for other webmasters. Other people offer coding and web design.

5. Blogging: Blogging can be a fun way to make a lot of money. The way to accomplish this is to first, monetize your blog. You can do this by selling affiliate products, your own products, selling advertising space or placing Adsense like ads on your blog. Also be sure to optimize your blog for the search engines just like you would a website. Next you need drive traffic to your blog and develop a following. Writing press releases, articles, joining forums and pay-per-click, are all ways to get traffic to your blog.

Needless to say, the importance of domain names makes them an important commodity in the world of online commerce.

Factors / Forces:

The value or demand of an internet domain name is mainly driven by the following factors:

1. intuitiveness: thus, “pizza.com” is more attractive than “breadwithtopping.com”

2. precision: thus, “pizza.com”, as opposed to “this-is-a-pizza-site.com”, is expected to be more valuable

3. universality: an interesting difference in the forces driving the market for internet domain names, as opposed to traditional markets, is that the value of a domain name likely to be in common or universal demand, as opposed to a niche area, is higher – thus, “pizza.com” is likely to be a good investment!*

*In fact, the domain name of www.pizza.com , bought by Chris Clark in the 1994 for $20, fetched the investor in excess of 2.6 million USD in 2007!

Strategies:

The strategies employed in this area are primarily dependent on the status of the enterprise – i.e. whether the seller is an individual or a commercial enterprise.

1. Individual: Typically, an individual will act as the middleman, and may choose to buy a small number of domain names, based on and banking on one’s understanding of future demand. This is similar to the strategy of an individual trader in the world of stock markets, but is relatively less risky as the prices of individual domain names bought are typically not high. The success of this strategy is dependent on the individual choosing a few but high Quality domain names. An example of a successful instance of this individual strategy is that of www.pizza.com mentioned above.

2. Commercial Enterprise: Commercial enterprises involved in this space act as primarily as wholesale dealers. Thus, these enterprises typically offer a large number of domain names, often multiple variations on each category of domain name or subject, for sale to both individuals as well as organizations. The success of this strategy is dependent on Quantity – the commercial enterprise that is able to acquire and offer a vast permutation of domain names for a given subject is more likely to succeed.

The keys to success in the area of selling domain names and making money in the process are, thus, quite like those in any other commercial area, and are greatly influenced by the market forces of supply and demand, not to mention the quality of the entrepreneur’s foresight and ability to predict future trends.

Some innovative ideas of generating revenue through blogs could be:

Direct sponsorship from companies: Cut off the intermediaries and contact directly with the companies. If your blog is relevant then companies may be interested in advertising for their newly launched product directly on your website. You can work out some arrangement where the first reader to click on the new product gets a certain discount on a product. This will also ensure reliability and credibility of your website.

Making use of Affiliate programs: Large companies like Citibank, Amazon, etc. run affiliate programs with websites and blogs. This can also be a steady source of income from your blog.

Fund Raising: Help people donate money or goods for a good cause through your website and earn some mullah by the side. It’s simple. In most cases, all you need is to have a space in your blog wherein people can enter a value and hit a button so that the money is transferred to the relevant cause once the user shares the basic money transfer details. This is becoming more and more popular among serious bloggers.

Diversifying: Once your blog earns its name, you can think of diversifying – something as simple as creating customized merchandises reflecting your blog, its nuances and quirky facts. You could design and create mugs, caps, T-Shirts etc and raise money by selling those.

Selling Blogs: Just as people have raised money by selling domain names, many have made good fortunes by selling off their established blogs to renowned companies. You can then move on to a different blog and share your expertise there, earning compensation in return.

Spreading the good word: You can use your blog and your readership to popularize an event or a cause. Reaching an agreement with the relevant parties, where your blog is used to sell an idea or a product can be a lucrative business proposition.

Share your knowledge: Share your learning and your knowledge with the rest of the world. Write a book on your experience of blogging, your advice and tips. Take part in seminars and give lectures to wannabe bloggers. Write in different online and offline forums and earn from sharing your knowledge.

Remember, there is no shortcut to success. If you are good, it will always be easy to generate money from your work – but if you lack the necessary skills to be a successful blogger and thereby generate revenue then probably this is not the field for you. Blogging is easy and fun and needs almost zero monitory investment – but the key lies in your ability to do it well.