Visitors × click-through rate = clicks; clicks × conversion rate = sales. Recurring programmes are modelled as the full value of one cohort of customers, so the monthly figure is the commission you'd eventually collect from the customers won that month. Twelve-month totals compound your traffic growth.

Real-world anchors: content affiliate click-through is often 2–8%, partner conversion 2–10%, and SaaS programmes typically pay 20–30% recurring for 12 months. Track actual EPC per partner rather than trusting the headline rate.