Why should you strive to set up as many streams of online passive income as possible? Simply because it means less work for more money – and who doesn’t like the sound of that?
Anything that you do once and make future income from, is considered a passive income stream. In other words, you are no longer working (after the initial setup) to produce that income.
Passive Income Opportunities
Let’s consider the various types of online passive income opportunities available. There are many more, but these should give you some good ideas to start with and expand upon…
Recurrent affiliate marketing plans are a great way to create a passive income stream. You refer one customer and receive commissions over the lifetime of that person’s sales. Any merchant that provides an ongoing service such as training, memberships, or subscribership is likely to offer a recurrent affiliate marketing commission plan.
Online Content Writing
Writing is another way to work once and get paid an unlimited number of times. You can do this with article writing for revenue share sites like Squidoo or HubPages which pay you while allowing you to build backlinks and/or affiliate sales when you use these pages as landing pages.
eBooks And Info Products
Another way is to write an eBook. You create it once, then offer it for sale on your website. Make the purchase process automatic by creating a sales page and an auto responder system that sends a file to the customer for download.
Many types of information products lend themselves well to passive income opportunities. You can develop a piece of software, email or website templates, or an internet marketing program – all of which can be created once and sold multiple times.
Google AdSense is a terrific way to make a passive income. Create one or several niche websites based on research of long-tail keywords. For instance, there are lots of sites about work at home opportunities, but few that focus on specific industries.
The less competition your site has, the easier it will be to make money with Adsense. Focus on well researched keywords, provide great content, perform quality on and off page SEO to bring in search engine traffic, and you could be well on your way to a great online passive income.
Making It Profitable
For any type of passive income scheme, automation is your friend. It isn’t truly passive income if you must micro manage the process.
Invest in a full-featured autoresponder system. There are many software programs available, such as Constant Contact and Infusionsoft, that do more than just send an email to your entire database – they can be used to automate delivery of your information product, send out satisfaction surveys, and track results.
Tracking results is particularly important if utilising an affiliate marketing program with recurrent commissions or a Google AdSense account. You can’t afford to miss out any commissions when you are relying on your passive income to pay the bills.
With several streams of online passive income, you can work smarter, not harder. Spend less hours working and more hours doing the things you love with any of these online marketing strategies.
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