the 13 best online passive income opportunities, part One
I am splitting the post into two parts and part two will be published on Friday. Today we cover the first five which are all related to earning online with affiliate products.
I do not know about you, but I can always use more money or free stuff. I love getting an email from PayPal saying that something that I did weeks ago is paying me for it. Or getting a fat envelope full of useful coupons with deep discounts or…free stuff!
According to this blog post from Indeed, only 19% of workers in the US are comfortable with their rate of pay. I am pretty sure that means that we could all use some extra cash.
These 13 tips are for setting up passive income streams online, which is different from the ones in my previous post on 17 passive income strategies, some of which can be done in real life, like driving for Uber.
Related Post: 17 Passive Income Strategies
What sets passive income apart from residual income streams is the ability to earn while you sleep. Once you get your streams set up, they run on auto-pilot allowing you to do other things while adding to your bank balance.
As well, if you are creating online course that you are promoting online with Pinterest or from your website (or both!), you can generate passive income for many years. So no matter what is going on with the economy or your job, you can bring in that extra money to enjoy life more, pay for vacations, buy new items for your home or just make your life easier in general.
You can implement as many of these ideas as you want, and you should. Multiple streams of online income is the goal here. $100 here, $50 there…it all adds up.
I am not going to talk about big finance options, like selling stocks and bonds or bitcoin. I leave that to experts.
Start a Niche Blog
Well of course the number one way to set up many of the passive income opportunities on this list will be much easier if you have your own website or blog. Niche describes the main topic of your website, but many people have “lifestyle” blogs which allow them to write about whatever they want instead of one specific topic and sub-topics.
My friend Ana from the website Happy Nifty Life has allowed me to link to her income report post “How I made $1040.85 in my 11th month of blogging”.
Fana’s report also confirms what is in this blog post, which is that even for busy people who cannot put a lot of time into building an online business, you can still make money! Fana is super busy with small children but still finds some time weekly to add to her passive income stream blog.
You do not have to know a lot about the subject of your blog, but you should like It enough to learn everything that you can about it so that you can help visitors to your website.
Set up your blog, write (niche) content, promote your own course, place ads, sell physical products that you have created, and promote your YouTube channel are all income opportunities integrate well with a blog.
Don’t have an extra room for a home office? No problem! You can set up your office in any nook or cranny in your home…or even a closet. Really, you are only limited by imagination.
Look at these 55 Small Home Office Ideas in this post by my friend Andie from The Mummy Front. There are some awesome ideas on how to squeeze a small desk into some vacant space in your home so that you can get started earning some sweet passive cash.
Be aware that it is mandatory for some programs that you have a website. However many people just set up a free website and then promote the products another way, like on Pinterest or Facebook.
If you have a niche website, you can find affiliate products for your niche, write blog posts that promote those products and not only help people who are searching online for reputable products but also open up the internet for people who are not aware of the products that you are promoting.
Carly from Mommy On Purpose has an excellent course on Affiliate Marketing for Bloggers that can help beginners get off on the right foot, as well as anyone who has tried affiliate marketing and failed. Carly shows how to use affiliate links the right way and uses examples from her “mommy” blog, proving that you can make money in a niche that is not blogging about blogging.
There are strategies for using affiliate links in blog posts, emails, and courses. I highly recommend this course for anyone interested in upping their affiliate game.
Many people who are searching for items on the internet may only be aware of a few products related to their search. Your review posts can introduce new visitors to hundreds of products that they did not even know existed.
An easy way to find affiliate products for your niche is to type your niche i.e dog toys and then “+ affiliate” to be connected to thousands of products related to your niche. Not all products are reputable, so use your own judgment when choosing products to promote. If it seems cheesy or scammy to you, it will probably seem that way to your audience.
Only promote quality products that you would or do use yourself. There is no benefit to promoting junk if you are trying to win more people to your website.
Feel free to use the banners or sidebar ads for quality affiliate products, just be careful about how many you have. Get a friend to check your page loading speed and discard some ads if your website lags.
You can now promote affiliate products on Pinterest, creating pins that lead to landing pages or your blog posts. Best practices can be found on this page.
Amazon FBA (Fulfillment by Amazon)
Of course the world’s largest online retailer should have a few products that you can also write posts about and promote. Note: The Amazon affiliate program is not available in all areas of the world.
Check their catalogue of items, find one that is helpful and useful to your audience and then either buy and try it out for that type of review or go online and research it for another type of review.
It is not mandatory to own the product to write a review, but if you are doing a strictly research review, be sure to look at a lot of reviews before writing yours, to get a well-rounded idea of the product and what it can do for people.
Place a link on your website to the product. Cookies last for 24 hours, so even if a person clicks your link but does not buy that product, if they buy anything in that 24 hours, you get the commission, and Amazon does all the work.
Commissions from Amazon are low compared to commissions from many private affiliate products, so it is in your best interests to be promoting lots of products.
I have read several blog posts and newsletters that seem to think that promoting the lower priced items (under 15 bucks??) makes it easier to make sales, since people can use the item to top up items that may already be in their cart. Your mileage may vary.
Clickbank is the world’s largest promoter of (mostly) digital download products. People love digital downloads because there is no waiting. Once you download you can start using it right away.
Related Post: Get started with Clickbank
There is a learning curve to Clickbank which is why I linked to my post above. Choosing products can be kind of hit or miss but if you poke around the website and spend some time really looking at the products, you can some gems to promote.
I love ShareASale! They have some truly awesome products for promotion in pretty much any category that you can think of.
SAS has physical products as well as digital, so you can promote clothing, automotive parts, food (live lobster anyone?), volleyballs and other sporting equipment. The list goes on and on.
Signing does not take long. Get approval for some of the products can take a few days and up to a week, so watch your email and get promoting!
Okay, that is it for this post. It was getting a bit long-ish, so watch for Part Two of Best Online Passive Income Opportunities. I will publish at the end of the week and will link to it once it is published.
Happy Blogging and follow me on Pinterest!