Create Passive Income Online: A
Formula for Financial Freedom
By Stephanie Chandler
Passive income is money you make while you sleep. Real
estate is the most traditional form of passive income,
but the internet has opened up opportunities for anyone
who wants to generate revenue online. Following is a
strategy you can follow to develop your own passive
income business:
Create a Content-Rich Website.
Content really is king. Not only does it give your site
visitors a reason to return to your site, but it gives
the search engines plenty of reasons to index your
pages. Load your website with articles, links and other
resources. By offering free information, you can convert
many of your visitors into paying customers.
Publish a Useful E-zine.
Online newsletters or e-zines are powerful tools for
keeping your name in front of your customers. Pay
attention to the e-zines you receive from other
businesses. What do you like about them? What could you
do better? Publish yours weekly or monthly and make sure
it offers plenty of value. This is your chance to build
a rapport with your readers while you soft-sell your
products and services.
Develop Products to Sell.
Information products are powerful revenue generators.
Product opportunities include books, e-books, special
reports, teleseminars, workbooks, tips booklets, mp3
files and virtually and form in which you deliver
information. Use your expertise to develop products that
your site visitors need. Electronic products are ideal
passive-income earners since once the product is
created; it can continue to sell for years with little
effort on your part.
Write Persuasive Ad Copy.
Once you create a quality product, you need to convince
customers to get out their credit cards. Offer a list of
product features, testimonials from others who have
enjoyed the product, and appeal to your buyer’s
emotions. The key to successful ad copy is to identify
the buyer’s need and show them how your product will
fill that need.
Automate Your Online Business.
The key to passive income is to minimize the amount of
work involved. Instead of manually responding to every
sale that you make or every inquiry you receive through
your website, you can automate these tasks. Add a
shopping cart solution to your site such as
www.1shoppingcart.com, a comprehensive shopping cart
solution or
www.payloadz.com, a service that automates
electronic file delivery.
Implement Affiliate Programs.
You can sell other people’s products and services
directly through your website and earn a percentage from
every sale. Find products and services that compliment
the content on your site. Popular affiliate programs
include those offered by Amazon.com, Google Adsense (www.google.com/services/),
and Commission Junction (http://www.cj.com/).
Your shopping cart service provider may also allow you
to implement your own affiliate program so that you can
empower others to sell your products and services. You
can also create affiliate programs through services such
as Click Bank (http://www.clickbank.com/)
or Pay Dot Com (https://paydotcom.com).
Market Your Business.
Drive traffic to your site by spreading your website
link across the internet. Some strategies to employ
include swapping links with other businesses, publishing
articles online through services like
www.IdeaMarketers.com and
www.EzineArticles.com, submitting press releases
through
www.prweb.com, and purchasing classified ads in
industry publications. Try to do one to three tasks
every day to market your business and soon your website
traffic will begin to explode.
Continue the Product Development Cycle.
Be on the lookout for new product opportunities. Pay
attention to what questions your customers are asking so
you can create products that they need. Each new product
should help increase your bottom line by generating new
income streams and new reasons to advertise your
business. Keep in mind that customers who liked your
previous products will be more likely to purchase new
products from you for years to come.
About the Author:
Stephanie
Chandler is a small business expert and the author of
FROM ENTREPRENEUR TO INFOPRENEUR: MAKE MONEY WITH BOOKS,
E-BOOKS AND INFORMATION PRODUCTS. She is the founder of
www.BusinessInfoGuide.com,
a directory of resources for entrepreneurs and
www.ProPublishingServices.com, a custom writing
business specializing in electronic newsletters,
information marketing, and sales copy for websites and
brochures.
*This article can be reprinted
provided the author bio is included.
Want to learn
more about becoming an Infopreneur?
Check out Stephanie Chandler's new book:
From
Entrepreneur to Infopreneur: Make Money with Books,
eBooks and Information Products
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