On the eve of November 8, 2016, Honorable Prime Minister of India, Mr. Narendra Modi demonetized Rs.500 and Rs.1000 note because of which there is a lot of curiosity in the minds of bloggers that what would be the impact of the modernisation on their earnings.
Impact of demonetization on bloggers income?
In this post, I’m going to talk about the impact of the modernisation on bloggers income. The first and foremost thing we need to understand are the various sources through which bloggers earn. The main source of income of the bloggers is through the affiliate marketing, selling eBooks, ads on the website, products / services endorsements etc. For doing affiliate marketing the bloggers have to be registered online on various platforms or directly with the companies. So once we are registered online we have to also indicate your bank account number or our credit card number where we want the money to be deposited once we get paid. That means once we have declared your account number the money which we would be receiving as an affiliate income would be known to the government officials. Also since this is a virtual money that we would be getting so the impact of monetization of Rs.500 and Rs. 1000 note will not have any impact on our affiliate income.
At the same time, we need to understand that if the online sales on Internet reduce, then it will impact our affiliate income. Which is true. That is why companies like Snapdeal and other companies have brought Cashless Sale so that they can reduce the impact of demonetization. On these e-commerce websites, please are trying to pay online through their credit / debit card or through internet banking. Products being bought through cash on delivery would see a nominal reduction in the sale.
Where is your target population:
You must know that this demonetization has been done in India while as an affiliate marketer you are not only making money through the sales happening in India alone. We generally have our customer base across the globe. So, there would be no impact of demonetization that happened in India on the Global population. I would rather see that there is very little online that comes from selling the product only in India through the Indian e-commerce sites. Affiliate marketing concept is still picking up in India and it’s yet to see its full magnitude. Most of the income of a blogger comes from the overseas sales. To prove my point I would have to wait for a month to check out income reports various blogger across the globe.
Put your best foot forward:
So if you had slowed down your work with the fear that demonetization is going to reduce your earning then you should not be worried at all. In fact this the time to put our front foot forward and do our best efforts so as to take our income to an all-time high. Also please note as per the indications are given by finance minister Mr. Arun Jaitley, India would now be moving towards plastic / virtual money rather than physical money. So this is a very positive sign for the blogger community indicating that more and more people would be visiting websites and making the transactions online. And once transactions are made online there is more likelihood that the bloggers earn more than what they used to before demonetization.