How to Generate Passive RevenueBy
How would you like to generate income for your business with little or no effort involved? Does this sound too good to be true? Of course it does but, actually, it’s not. For many websites and blogsites, the creation of passive revenue streams is a great way to pay for the services required to maintain them, making their maintenance a zero-sum game.
Affiliate marketing and passive revenue
For more than a decade now affiliate marketing has been the most effective means for generating passive revenue streams for bloggers and online marketers. While some affiliate programs require many hours of work to generate appreciable income, many of these programs require no work at all, or perhaps minimum maintenance to ensure the links are working properly. Some of the least labor-intensive yet rewarding are the affiliate programs offered by the purveyors of the very services you will be using to promote and maintain your online efforts.
In its most basic form, an affiliate program will pay you a fee or commission for conversions which reach them from your website or blog. Whether they wish to merely generate traffic or actual sales, the standard for conversions is determined by them and they will track them for you and pay you automatically. It is a very cost-effective form of advertising for the vendor and requires almost no effort on your part. Simply place their ad on your site and get paid for every conversion.
Let’s take a look at a few of the best types of affiliate programs:
- Products or services that you use on-site – such as web hosting services, email marketing services, shopping cart services, etc.
- Products or services you might review and recommend – such as the computer and other hardware you use, your favorite operating system, word processing and spreadsheet software, new products and services, etc.
- Products or services you might use in your personal life – such as a cleaning service, a child care facility, a realtor’s service, etc.
With just a little research you can find all sorts of affiliate marketing programs online; programs which require very little thought and effort on your part but which, by generating traffic to your own site, can lead to a passive revenue stream that just might pay for all the work you’ve done to create an interesting online presence, and may lead to much more than that.
If you would like some help creating your own affiliate marketing program, or in joining a few, get in touch with VBSOnDemand today for a free consultation.