Without question, passive income streams can provide a reliable revenue source, as well as helping your business scale up. One thing I’ve always made a point to reinforce, there is a lot of initial work to set up your income system. In fact, it a lot of upfront effort, but you’ll receive money night and day, even when you’re on holiday. So, how can you set up a passive income? Below are a few tips that you could start off at any time.
- Add a suggested product to your download web page. When customers land on your download page, you can offer an extra product which relates in some way, to the one they’re purchasing. One more idea is to offer that merchandise right after the download webpage, once they’ve already purchased.
- Offer a “Latest Product” in your email signature. Your email customers (subscribers) are able to see your brand new product at the bottom of your own email messages, and click on, right through, to get.
- Offer a product in your “Thank You” to-up email. Whenever you follow up with customers who recently made a purchase, provide them a product they may like. Again it’s a good isea to try and ensure the product is related (an “upgrade” works well in this).
- Package multiple offerings. Get a group of items you released before and set them together, right into a useful package. This is a good method to repurpose old articles; to generate new things.
- Create a registration or “Members Only” website. Members can spend a monthly fee to discuss tips, ask questions, and appreciate exclusive content. It can be used in learning environments, coaching, product education, etc. If the site is useful, they’ll pay out monthly, plus it requires small servicing on your part.
- Launch affiliate Internet marketing. Affiliate marketing online, is where you market the useful, high quality products of other people on your website or blog, and obtain a commission. This involves some content writing, but when carried out properly, you’ll send customers towards the merchant you’re promoting then experience the advantages – Earning much more money!
- Become a product or service supplier. Instead of marketing exclusively products of other people, you can create your very own offerings, to use (and leverage) affiliate marketer networking sites. You can let others do the marketing for you personally, for a percentage.
- Suggest products and resources. Create a webpage on the website in which you recommend equipment, software, and quality assets, as well as other goods or services. You are able to offer your audience both totally free assets here, as well as top quality tools, products, services, etc. that will make you a profit.
- Market advertising on your blog or website. You have to have a very high-visitor website or blog traffic level to get this done properly, however you can offer room on your own web site for promoters. Just be sure the ads are related – meaning they are relevant to the content page the ad is displayed on..
- Add Google AdSense and the related or any other marketing advert method to your website. When somebody clicks on the advertisement, you’ll get a earnings for that (even though this tends to be a small, incremental earnings). Naturally, this also works best on websites that have reliable high volume traffic.
- Sell advert areas in your eZine. For those who have an ezine (emailed newsletter / magazine) with several interested members (as in a high number of subscribers list), it is possible to offer area on the newsletter to marketers. Once again, make sure the advertising is VERY relevant to your viewers or it’ll turn them away from.
- Systemize discount coupons to enhance product sales. Send out computerized / generated coupon codes for your products to customers after they’ve registered for the site. You can even send automatic discount coupons in your email subscribers list.
- Make suggestions inside items, products, offerings. In your goods, advertise other products or offer you discount rates. Upsell, downsell, etc. You can even put out totally free products like ebooks to lead your interested niche visitors to your other premium (for pay) goods.
All of the above solutions leverage your current sales funnel and customers, and make use of automation so that you don’t have to do all the work manually. Consider your business and its goals. Which of the above ideas could you implement? It just takes some planning and background work to set up.
These ideas, along with your detailed Successful Passive Income plan, are what you need to achieve your goals. Wondering how to go about the planning you need to get started? I’m offering a full course on “Successful Passive Income”, for growing your passive revenue stream, strategically step-by-step.
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