WHAT IS PASSIVE INCOME?

WHAT IS PASSIVE INCOME?

Some things in life come with a price and we must be ready to pay it if we want something more than just the bare minimum. We all know how the internet has brought us instant access to information of all sorts, but there is one thing that has made our lives better and easier over time. This is simple – the internet provides us with an unlimited supply of “free” services.

This simple service is called advertising and you do not even need to pay anything extra because most companies already offer it to their users for free. Companies like Google, Google Adwords, Facebook, YouTube, Netflix, Yahoo AdSense, Bing Ads, Amazon Advertising (Amazon Ads) etc. provide this service freely and without any charge or limit for business usage.

The good thing about this online business model is that many businesses can take advantage of adverts without having to spend hundreds of dollars on marketing and selling ads. The reason for such success is simple – advertising gives them no profit at all because of its lack of cost. Instead they can only sell products based on data and analytics for high sales and profit margins. However, there is also another side to the coin where the cost of creating content and making video clips falls into your lap.

In short, the main point to make here is that we can get paid for doing nothing. If we become a creator, and create quality videos and post them on social media channels, then we can actually get paid with affiliate commission from the advertisers as well. So that adds up and makes the task a lot easier. You can find examples of these websites that are monetized online. When you scroll down, you will see that almost every website generates thousands of visitors a week through affiliate links. It does not matter what niche you choose because if someone else comes across your profile, he/she knows that you are a blogger and will be willing to use his link to buy something. That will help him/her generate lots of leads for himself or herself or perhaps others. These lead generators can bring in huge amounts of cash for you in case you start generating lots of traffic to your site and you end up getting paid for whatever you are able to generate for them directly.

If you follow the advice outlined above, not only would you be putting the work in and generating lots of revenue, you would also be saving thousands of bucks which you could save by buying stuff such as cars, homes, travel planning packages or vacation rentals for example. All this savings would flow directly to you because you do not have to worry about renting, finding a house or traveling to visit family back home or friends and relatives abroad or anywhere in between.

There are so many different ways that people have been earning passive income, but which works best for you? And the answer is that you can achieve all these goals using 3 types of sources:

Affiliate Marketing Affiliate Programs

Paid Guest Posts
Patreon Affiliate Program
Affiliate Marketing

If your company is interested in growing and marketing itself online, then consider starting an affiliate program. In this way you can increase your reach and visibility to customers and generate more revenue for yourself. For example, when I started blogging years ago I was thinking of entering the world of affiliate marketing. After a while I realized that nobody actually likes to click on advertisements or buy stuff online, because once such action turns out to be harmful for us. People just hate being sold and they will never purchase a product or service after reading, seeing and hearing about it through others. Therefore, I decided to focus my efforts on promoting other people’s products instead of myself. The result? Very quickly I became successful even though I did not promote myself first.

Affiliate programs can also include web hosting, domain names, and software development services as well. As long as your blog or website offers value to readers and can give them benefits, affiliates will be eager to make your website more visible and available to everyone, because they know how much it gets.

Affiliate Marketing also includes recommending other people’s products on your own as well because it is pretty straightforward and the results can be amazing! To put it simply, affiliate marketers earn commissions on each sale made by their followers. They are usually rewarded by receiving bonus units of products directly from various seller and manufacturer websites. Most of these websites will have additional features that they offer to reward their affiliates with for helping them with affiliate marketing. A few websites require buyers to enter personal information such as age and interests to join, as well as require proof of previous purchases which can make things tricky. But the bottom line is that you can easily avoid paying for anything if you promote other people’s items and products.

Paid Guest posts

If you really love writing and know everything about content creation then why not try publishing guest posts on popular sites, especially those related to yours. With several bloggers taking thousands of dollars per month posting their articles online for others’ audiences, you may think that it might be tough to earn a living posting for other peoples’ audience. Well, the truth is quite contrary. Although writing online requires tons of effort and expertise and publishing in the traditional sense takes years of dedication, it is totally possible to make a fortune doing it. As far as guest posts goes, there is no secret formula because every article is unique and deserves to receive the attention of whoever reads it. If only one person decides to check it out, it will surely go viral. You can start by targeting specific categories of relevant keywords in terms of topic, location, age and interests for which you are offering your insight. Many bloggers started as freelance writers but have now turned it into their full-time career and are earning thousands per article. Just remember to target the right keyword when building your strategy and don’t forget to optimize your post once published.

Patreon Affiliate Program

The ultimate goal of affiliate marketing is to attract new subscribers and grow brand awareness. By promoting other people’s products, you can make sales and raise your reputation to become known among customers. While launching an affiliate program, it is important to note that you should not try to get the same number of subscribers as your competitor and aim for the opposite by focusing on topics and niches where you can beat your competition.

If you can, try to build up relationships with publishers because many of them have influencers and brands who are willing to agree to sign up for a limited period of time in exchange for sponsored links. Of course, keep in mind that it is very difficult to become famous unless you have a large number of loyal supporters. Once again, it all depends on you.

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