Hey fellow blogger have you been wondering how to make money with your blog? Well in this post we lay out some awesome tips you can use to create passive income ideas for your business.
What is passive income? According to Wikipedia it is income that requires little to no effort to earn and maintain.
It is called progressive passive income when the earner expends little effort to grow the income.
As far as I’m concerned put in lots of upfront work selling, or promoting a product or service that can earn income without you. It’s not get rich quick, or do nothing and win.
There is lots of hard work that goes into creating passive income. Making money without physically being there or without working sounds great! Right?
There a plenty of examples of success out there where people are doing just that. Making money in there sleep, making money while on vacation, or just simply making money while not working.
To create a passive income you will need a combination of a couple of things.
A website and traffic to your offering.
If you are reading this article and do not have a website yet.
Download my completely FREE guide on How to Start A Blog.
This guide will take you step by step at your own pace and in know time help you to create your very own stunning website.
Getting traffic to your website is essential for any blogger who wants to create a passive income, but it’s important to note that getting targeted traffic will ultimately yield success.
If you are new to blogging and have 10,000 visits to your blog this week can be awesome.
Having 1,000 visitors who are looking for your particular offering is more powerful.
Targeted traffic can lead to more conversions. I’m all for tons of views to a website, but when you are looking to grow an email list, or in this case create passive income ideas you have to work on traffic that will be interested in your content (targeted traffic).
By driving traffic to your website with interested visitors you increase the chance of someone saying yes!
Your website can gain popularity with a targeted audience.
If i’m interested in USB thumb drives and I discover your site has the best prices, most complete reviews, and is the best resource I will buy from your website.
Congrats! you’ve just made a sale AND you have potential access to my market.
Everyone I know could learn about your website from me because I had a great user experience. Targeted traffic is powerful because it’s perpetual.
What are some examples of Passive Income Ideas
While there are lots of creative ways to make a passive income we will cover a few popular methods used by bloggers.
These are methods that we have used and are currently using and find them to be great as income streams.
What are the most popular Passive Income Ideas
Related Reading: What is Affiliate Marketing
Affiliate marketing is a great way to make passive income. You as the “marketer” can offer a product to your website visitors.
This product is managed by the manufactuer and all you need to do is add your unique link to your website that allows people to click and purchase.
Some of the affiliate networks you apply with will require you to have a website. My favorite network is ShareAsale.
ShareASale is a large network with products from various niches. Once approved with them you can began searching their database to find products that align with your niche.
Dropshipping you would setup an online store. An ecommerce website that you promote and have customers who purchase products on your site.
In most cases after an order is placed for a product you would go to your manufactuer and purchase the product.
The manufactuer will then process the order and ship it directly to your customer.
Display ads are managed by ad networks. The network has agreements with different advertisers.
The network will place ads on your website and if you have great traffic you can make some pretty substantial passive income.
You don’t have to worry about putting the ads in certain places, the ad network will strategically place ads on your website.
CPC Ads (Cost Per Click)
With Cost Per Click you will also have ads placed on your website. There is a difference in how you will be paid.
Each “click” generates a small payment regardless of the visitor buying a product or not.
This can be a very appealing source of income especially to those who have high volumes of traffic.
Having a website can be a valuable commodity. With healthy amounts of traffic you can certainly take advantage of multiple streams of income.
If you are a photographer and have skills you can create passive income with your photos. You can license stock photos online.
There are many places to offer your stock photos such as Creative market, or even Etsy.
I have purchased stock photos on Etsy before as I am not a photographer but use images for my social channels and website.
You can also look in to a stock photo website that allows you to submit your photos and sell through that site.
You can consider Dreamstime Crestock, Ivory Mix, and Pixistock.
Create Presets for Lightroom
Although I am not much of a photographer I have learned that Lightroonm presets are a great way to make passive income.
If your on Instagram you will see people interested in presets and if you are good with photos you want to give this a shot. No pun intended!
Selling information products such as ebooks, or online courses can be a great way to create a passive income.
A major appeal to these types of products are there viral potential.
These types of products can be sold and recommended over and over. Your product can become a number one best seller.
It can also lead to creating other similar products that act as support or extensions to your core product.
Template Based Products
You can also sell template based products. These are products that a user can add to their business.
These products can be pre-made email templates, legal templates, and even graphic design templates.
Each of these products have an appeal- for example you as the professional have created the perfect email template that welcomes new customers to a particular product.
This email template is well worded and needs very little changes to the text other than inserting your business name and info.
You have just made it much easier for your customer to set up their emails by purchasing your ready to go pre-made templates. Ideas for template based products would be:
- Email templates
- legal templates
- Graphic design templates
- Ebook Cover Templates
- Media Kit Templates
Passive income is obviously a great way to earn income. It can be a great supplemental income or at some point become a full time income for some.
We hope this article has given you some thoughts about how you can come up with passive income ideas to make money.
Now over to you
I’m curious? What are some of the ways you are making money online? Join the conversation and leave a comment below!