There are tons of ways on how to earn passive income online. In this article I will only touch on 3 ways which in my opinion are the best and perhaps the most beginner friendly. I will also give you the pros and cons of each. There are a variety of reasons why many people interested in the idea of earning passive income online.
For most people, a regular job just doesn’t seem to be a solution to financially progress and so they are looking for an alternative.
Whatever the reason, creating that side hustle is always a good idea. You never know when those extra dollars will come in handy. Doing it well could easily turn out to be something that generates a full-time income in the long run.
Before going into online marketing, I started by offering graphic design services on Fiverr. If you have a particular skill that people are looking for, there are various online platforms that you can use to showcase and market your work. I have on many occasions outsourced content for my work from various platforms. Fiverr, Upwork and iWriter are just some of the places I outsource from.
As long as you have a strong and well laid out portfolio, you can upload your profile and be online within minutes. Good quality work will always attract clients. People all around the world are always looking for products or services. If you excel in your field of expertise, you can be guaranteed of earning some good revenue
Pros and Cons
As long you stay dedicated and follow the right course of action in building your side hustle you can scale up your business to a point of earning a full-time income. To successfully do this might require that even as you rely on platforms like Fiverr to market your products or services, it’s a good idea build your own website where you can upload your own work. It becomes a good reference point to future clients. It’s more like having an online resume.
It takes a fair bit of time to become an authority as a freelancer. Remember that you are competing against other well-established people who are in the same industry. Don’t expect to start making money day 2. You will need to be patient and maintain a high level of commitment. Results will begin to come in as you gain more experience and build some authority.
Are You Looking For a Way to Earn Passive Income Online?
Social media marketing.
If you know how to create engaging content and build a following on social media, you could earn some good income. There short videos like Nas Daily or Prince EA that millions of people watch on social media around the world. These are called social influencers.
To become a top influencer, you will need to upload tons of video that receive thousands of views in order for you to make money off AdSense.
Obviously, not many people are capable of doing that. On a smaller scale, content can just be a post or podcast on topics that people are looking for. The more people engage with your content the more followers you gain.
The best way to achieve success with social media marketing is to create a sales funnel. These is a process that guides your customers to your product or service.
In most cases it’s usually a 3-step process which can be broken down to Know, like and trust.
- Know: Create a post or video. This is where you get people to get to know you. Creating an engaging post on your social media channel will get potential customers clicking on your link. Just remember to be as real as possible. People buy from people they know. You should not be selling anything at this point.
- Like: Lead them to a landing page. A landing is where your potential customers get a more detailed account of what you are selling or promoting. It could be in the form of a blog post, YouTube video or Facebook group. Make sure the information you provide is accurate and easy to understand.
- Trust: Call to action. Good valuable content on your landing page will build trust. At the end of it you want to your customers to do something. It could be asking them to buy your product or service, subscribe to their channel, enter an email address or even contact you in person.
Pros and Cons
Social media marketing is way cheaper than conventional marketing. As long as you have a solid marketing strategy, you can be assured of seeing results in your business.
Social media also enables one to have an understanding of your target audience. That will help you market your product or service to the right demographic.
If you are shy on social media, this might not be an effective way to build your business. Your social media campaigns need to be bold and captivating. There is a normally a very thin window of opportunity before you capture your customers interest.
Not having a clear marketing strategy will impact negatively on your business. The nature of social media is instant and so it needs daily monitoring. You need to be really active if you are hoping to see results.
Affiliate marketing is, in my opinion the easiest way to start an online business that can generate passive income. The great thing about it is that you don’t need to own products or services in order for you to promote and sell.
Affiliate marketing, in its simplest nature, is the practice of promoting manufacturers’ products or services to a target market with a view to locking in a commission as compensation for your efforts. According to Neil Patel affiliate marketing is the only business that helps you make money as you sleep.
I know that sounds too good to be true, but in a way it’s true. Your website never sleeps and so for those who have managed to build authority websites, it’s not uncommon to wake up to sales and profits made overnight while you were asleep!
Just note that there is an incredible amount of work that goes into it for one to get to that level.
If you are interested in learning how to do affiliate marketing, there are plenty of resources out there that can train you on the process.
Pros and cons
Unlike many businesses, the startup costs of affiliate marketing are quite low. Joining affiliate programs in most cases is free. Your initial cost could involve buying the product you are promoting. All you need to do is build a website or YouTube channel, drive traffic to your offer and when somebody buys the product or service, you earn a commission from the merchant.
There is also no limit to the number of products you can promote. You can have multiple websites promoting different products and services or even promote multiple products on the same site.
The flexibility of becoming an affiliate has seen all sorts of programs popping up all over the place promoting bogus products. I have certain programs on this site that promise easy money only to find that the training is too generic to be of any use or even cases of people using stolen content and rehashing it as their own. This is what gives the industry a bad rap.
Like any business, affiliate marketing requires a lot of hard work. There is no easy money in any business. If it was easy, everyone would be doing it.
Building an online business that generate passive income is fairly easy. The most important rule is to go with what works well for you. If you are promoting products online be sure to go with those that you have a personal interest in.
Also ensure that whatever content that you are presenting to your audience is accurate and offers value to your audience. As I mentioned earlier people buy from people they trust.
To achieve that it’s always a good idea to invest in training. If you want to become a freelancer or social media marketer, there are tons on training out there that can help you achieve your goals.
I am an affiliate marketer and here is my top recommended online education program.
It’s was founded way back in 2006, has stood the test of time and continues to get better with each year.
Here you learn the everything you need to know on what it takes to become a truly successful online affiliate marketer. Best of all its 100% FREE to get started with. (No credit card required). You also get 2 FREE websites. Yours to keep for life. Check out the steps I followed and see if it’s a good fit for you.
Many thanks for reading my review. If you have a question or a comment on how to earn passive income online, please leave it below. I would love to hear from you.
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