500 uniques per day? Per month? That amount of traffic per day might be able to earn you about $100 / month with Google AdSense, provided that 500 uniques translates into about 2000 pageviews per day. That was similar to the amount of traffic DaniWeb had when I first added AdSense. If you get into a network such as Burst!Media, you could probably make about $50 per month with 2000 pageviews daily. Perhaps a tiny bit more with AdSense (although they won't cut checks less than $100).
In our expirience with affiliate programs, targeted programs are key if your traffic isn't huge. Also, if your business has a real life store front, promoting tageted affiliates like a product offered in store has proven successful in our case. For totally online entities, it may be a good idea to give your new affiliate some PR by writing an editorial about why you've chosen this company as an affiliate, and why you endorse the product.
Affiliate programs can produce bigger incomes than CPC publishing - if you have a good site and find a program that is selling something that your visitors want (and will buy in sufficient numbers that you make more per thousand than on adwords.
estimated conversion rate * estimated comission = expected income per visitor
Of course you probably have no idea how well you'll convert and that really does depend on how targeted your traffic and your site is.
If you 500 visitors ... probably you will sell or not. Depending on the traffic. If you have visitors that come to see heath exercises and you advertise selling constructions ... well anything is possible :)
Oh! Then: Can You tell me about "TARGETED TRAFFIC"? is it REAL?
Targetted traffic is REAL. Meaning: When you specifically display advertisements to certain geographies. You're not going to display an ad in Swedish to North American traffic. You're probably going to want to put the Swedish ads in the Sweden demographic. Just a thought. ;)