Passive Income A Guide For New Marketers
The success of my websites and blog have also led to several one on one coaching and consulting engagements. The experience of helping others grown their business has truly been rewarding! For me, passive income is the best income that I have ever earned.
So how about you? Do you want to create a passive income, but don't know where to start? Well then, this article is for you. This article will tell you what you need to do to create your own passive income funnels.
The concept of passive income is only a dream to most people but there are plenty whom are living this dream today. People are making it happen every day and so can you. It definitely takes work, but is well worth the effort. If you are willing to create a system and put in a consistent number of hours up front, you should see the checks start rolling in less than a year.
WHAT IS PASSIVE INCOME?
Passive income is defined as an income received on a regular basis, with little effort required to maintain it. I prefer to define passive income fairly broadly as revenue you earn even when you aren't actively working. Another name for passive income is residual income.
There are three main types of earned income: active income, passive income, and portfolio income.
An example of Portfolio income would be Dividend and Interest income earned from owning securities such as Stocks and Bonds. Retirement pensions would be another example.
Active income includes income earned from working a 9 to 5 on a daily or weekly basis. As long as you are actively working, income is being earned.
Earnings from a business that does not require your involvement, such as from passive income are:
- Royalties from publishing a book/ ebook
- Earnings from Internet ads on websites, such as Google adsense
- Residual income, or repeated regular income earned by a sales person, generated from the payment of a product or service, that must be renewed on a regular basis in order to continue receiving its benefits
Out of these three, passive income is truly the best option for those looking to make a work at home living. Much like the concept of trees growing while you sleep, passive income allows your bank account balance to grow on its own as well.
HOW TO CREATE PASSIVE INCOME
Okay, so you get the idea. Now you want to know how to create passive income. There are plenty of ways to go about doing this. The most consistent and successful way that I have found to make passive income for online marketers is through Affiliate Marketing. Now, if you do not know what that is, affiliate marketing is basically selling other peoples products online. You market a product, direct the customer to purchase it, if they do, then you make a commission. Affiliate marketing is popular for a number of reasons, including the potential for success with a relatively small audience and the deep pool of affiliate partners willing to pay you, in order for them to acquire new customers.
3 CURRENT POPULAR AFFILIATE MARKETING STRATEGIES
- COUPONING - The value proposition of these sites is pretty clear; they provide visitors with access to coupons and tips for using them that can save money. If done correctly, they can be tremendously popular and make your site a Membership magnet. (checkout Couponmom.com owned by Stephanie Nelson, whom has literally millions of members)
- RESOURCE PAGE - If you go to almost any online marketers site, you will see a Resource page used to provide reference links and materials for others marketers to use. This is a perfect form of Affiliate Marketing. You can pick out and recommend your own tools and resources that you use to share with others and make a commission. Partnering up with a site like Affiliate by conversant (formally commission junction) is a great place to find affiliate links.
- PAY PER CLICK - with PPC marketing you're showing an affiliate link in front of your site visitors face via Google Adsense, Facebook ads or CPA advertising where the end viewer may click on your link and buy the product thus earning you a commission.The reason why this type of affiliate marketing is so attractive to many is because some of these ads can become a very lucrative, monthly passive income funnel. Some CPA Ads pay over $100 a click. Check out Maxbounty.com for starters.
HOW DO I GET CUSTOMERS TO MY SITES
This is where all the time-consuming work comes in. It is not hard work, but it does take time. This is when you set up a system to bring you what I call "money on demand". Most people earn their money on a schedule. They get paid each Friday or every two weeks. With passive income, it is possible to get a paycheck every single day! Of course, only if you have a strategy in place to make this work. You generate customers to your site through a few different means.
If you want to use a completely free method, then you would choose article marketing. The benefit is when you post an article online, it stays there indefinitely, and will continue to direct traffic to your site. You can also choose to pay for some marketing with ads, such as through Facebook advertisements. Although this does cost money, it is extremely effective in driving targeted traffic to your site.
So you see, there are effective ways to make passive income blogging online. For most people this is a great way to earn an extra income while staying home. This helps you pay utility bills and car notes. Anybody can do this provided you are willing to spend time learning to do the process.
After you posts blogs, do you know how to convert the blogs into money?
Here are some principles that can help you start with your new found home based business:
CHOOSING THE RIGHT KEYWORDS
When writing for a certain niche or subject matter, focus on the right keywords to use and incorporate those in every article that you are going to post. If you are submitting articles on article directories such as ezine, observe proper keyword density so that your article will be approved immediately. Stick with the basics. Write relevant, well written articles in promoting your niche.
FREQUENT POSTING IS NECESSARY
This is the most challenging part of the total blogging process, frequent posting of relevant articles. Set time daily when to post entries being consistent in everything you do. Post on a regular basis and post comments on other people's blogs. If you want to drive traffic back to your website then frequent posting of useful information is necessary. For those with limited time constraints, try to put between 10-20 posts on your blog, and then 2 content rich articles, a week. You are not only writing articles per se as part of your job but learn to put your heart into it, after all this is more than just a job, it's an income producing business.
Social Networking (While Building Backlinks)
Learn to interact with people you know or have just met. Social networking sites like Facebook and twitter play important roles in your blogs. You can post blogs on your wall with all the clickable words linking back to your website. These are very simple to do and a great way to build authority with your blog in Google's eyes. Backlinks give your website more relevance and therefore put it higher up in the search engines to get noticed.
MAKING PASSIVE INCOME FROM INFORMATION PRODUCTS
Have you ever wondered how to create passive income from information products? It can be a powerful way to increase profits. Many new marketers fail to realize this is possible when they first start their Internet Marketing. Many of them may have heard about passive income from products, but become so busy with other areas of marketing, it never occurs that marketers just like them are earning off of their own information products.
The truth is that if you have an information product, i.e. ebook, book or video course series; setup on its own website with a sales letter or in a marketing network like Clickbank, you already have a passive income goldmine hitting your bank account.
Here is a 6 – point "must do" checklist to create a successful launch of your new Information
Product:
Tweeted about it on Twitter? or Facebook? -
Performed good SEO practices? -
Gathered testimonials? -
Used article marketing? -
Announced it to your forums or niche groups? -
Sent out press releases?
Now if you answered "yes" to these questions, there is one more thing you need to do. It is actually the most important – Set up an affiliate program for it. Having lots of affiliates to market the product for you is the real key to making passive income from information products! It's worth it, even if you give a hefty commission, because along with making extra sales, you will be building your list with pre-qualified prospects while your affiliates generate for you. And then, the next time you launch a product, you will have even more people to market it to from your ever growing list.
Note: You need to take an active role in searching and obtaining new affiliates. You should approach the "big name" affiliates too, if your product is not merely a low-ticket item. The most important key to attracting their interest? Offering a product that targets a particular niche that their lists will love.
There's one final step you need to take – Track and Test (Split Testing, as well) to make sure there isn't a glitch in the checkout process. You want every part of the checkout and delivery of your information product to work properly. This makes for happy affiliates, happy customers and less customer service issues.
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