Cloaking affiliate links means you’re pointing people to a URL on your website, but it redirects somewhere else. For example, this cloaked affiliate link points to /go/maxcdn but it redirects to the MaxCDN website. You must do this because Youtube video annotations only allow you to use URLs for YOUR associated website – cloaking them is what allows you to redirect them to the affiliate link!
Basically, you’re just recommending certain products through your YouTube videos and when people click on your affiliate links and purchase products from the merchant, you get a commission from each of the sales you generate. There are many affiliate programs in which you can participate – for instance, Amazon and Apple Store have affiliate programs that allows you to earn commission by promoting their products.
Shopify is probably the most popular e-commerce solutions provider out there, but because there are so many products and options, newcomers can easily get confused. If you believe your audience has products to sell and could benefit from Shopify’s products and are able to elucidate the benefits of signing up for Shopify, you can definitely earn some big money with their affiliate program.
The online lead generation is a multi-billion dollar industry. Done right it can be far more profitable than many imagine. Everyone that I know that is in the business and knows what they are doing, for the most part, does 6-7 figures. While that's a huge range, much comes to one's ability to scale and effectively build / manage the infrastructure needed to scale.