September 25, 2007
The promise of instant wealth and riches has always been a successful marketing ploy by marketers. Unfortunately, more times than not, they are the only ones raking in the big bucks. Don’t be fooled by any quick fixes, building a passive online income takes time and a whole lot of planning to get the job done properly.
Still, many people are tempted by the offer of a quick fix and the promise of overnight success. Don’t be.
Building a solid lasting online business requires some planning and time. Don’t be under the illusion that building a steady online income can be done overnight or with just a few clicks of the mouse. It usually doesn’t happen that way even in the virtual world.
This is probably not what you want to hear for in our hastily created “Instant Society” we want everything five minutes ago. We want immediate gratification. We want it done already.
We want the quick fix.
To make matters worst, we are constantly bombarded with stories of how ordinary people have struck it rich and made money very quickly online. The swift speed of the Internet has fueled these ‘get rich quick’ scenarios up to a fever pitch. A virtual fiery inferno!
But don’t be taken in by all this marketing hype and stories of people who have made money quickly and easily. Slow down. Take a deep breath and use your brain cells in at least multiples of 10!
Sure there are online marketers who can generate thousands, even millions within a few days but in almost all these cases these marketers have built a solid foundation first. They have built their sites, created products, cemented business deals, formed JV (Joint Venture) partners, built their contact lists and they have done their SEO work…
In other words, they have done the ground-work first and have created the means to generate income quickly and steadily.
Regardless of what these successful online marketers will tell you or want you to believe – it didn’t just happen overnight. Of course, there are a few exceptions to that statement (people do win lotteries) but what most of these marketers have in common are long tern marketing strategies which played a significant role in their success.
Long tern marketing strategies which helped them build a steady passive online income. The same strategies you can use to generate your own passive online cash flow.
Here are some suggestions from someone who is drawing a healthy passive online income, actual strategies you can copy.
1. Think Long Term
Save your quick fixes for roof repairs and Las Vegas weddings. Have a long term goal in mind when you set out to create your online affiliate income. Don’t expect it to happen in a couple of days, instead plan on months and even years of building your online business from the ground up.
Have the mind-set that you’re creating long term relationships and objectives. Have a long term business plan in place or at least realize you will have to put time aside to build your business. If you need income to live on, don’t quit your day job. Work on building your online income in your spare time and after working hours.
Along the way, take time to obtain a solid knowledge base. Learn everything you can on Internet marketing. Learn how it’s done. Knowledge and ‘know-how’ will be your main ingredients for success.
2. Your Unique Selling Position
The Internet is mainly based on the transfer of information. Make sure you have some to offer. Base your online business on something you have expertise in or something that you would enjoy becoming an expert on – play to your own interests and hobbies. If you love what you do it will not be work.
Create your own corner of the web on something that truly interests you. Something as simple as creating “How To Guides” and “Comparison Shopping Sites” do extremely well online. Information on the web is scattered all over the place, simply compiling this information in an easy to read and access manner will produce surprising results. One of your main goals should be to get your site seen by all the search engines as an “Authority Site” on your particular subject matter.
3. Target and Dominate Your Niche Keywords
Do your keyword research homework first. The web is powered by keywords – the exact phrases people type into search engines to find what they’re looking for on the web. Find the highly searched for keywords in your niche or subject area and target them in your online marketing. Please remember, achieving top keyword rankings may take months ( more likely years) of consistent SEO work.
Use sites like WordTracker or GoodKeywords to find your useful keywords. Create web pages and content related to your keywords. Build quality one-way links to these keywords by writing helpful and informative articles on your niche. Submit these articles to online directories like Ezinearticles, Goarticles…
Invest in a professional keyword research software such as Keyword Elite if you do extensive keyword marketing and PPC advertising. The idea is to dominate the main keywords in your niche market; if you can get high rankings for these profitable keywords, be assured companies in your industry will quickly come knocking at your door with lucrative offers.
4. Build Relationships
Along the same lines, go out of your way to build long term relationships with the companies and affiliate managers you’re promoting with your site. If you supply the sales and traffic, you will be rewarded with special incentives and bonuses. Don’t be afraid to bargain for private affiliate arrangements and compensation, companies will go out of their way to reward and keep their top performing affiliates happy. Money talks, that other stuff walks!
Join the major Affiliate Marketing networks such as Commission Junction, LinkShare, ClickBank, Shareasale… these companies are professionally run and offer affiliate programs for all the Top 500 companies. Remember, the Internet is still seen as a very untrustful place by many customers, promoting well known established Brand Name companies and products will prove more lucrative for any affiliate marketer.
5. Build Your Own Lists
One of the most effective and proven marketing strategies is to build your own ‘opt-in’ or contact lists. Creating and nurturing a loyal and responsive list should be one of your main goals as an affiliate marketer.
Building a series of ‘follow-up emails’ for each of your major affiliate products can produce more sales. Capture the contact information of your site’s visitors for further marketing and contact. Your follow-up emails should be both helpful and offer special discounts or offers to your subscribers; everyone loves a deal.
6. Create Multiple Income Streams
Don’t put all your eggs… but you know that already and the same applies to affiliate marketing. Don’t concentrate on one product or company. Create affiliate relationships with hundreds, even thousands of companies and you will see a steady flow of affiliate checks. If one industry or market area slows down, you can rely on others to fill in the gap.
Don’t forget an easy way to monetize your site or sites to produce passive income is to place ads with your content. Google Adsense is just one example of this, there are many more. Just place a few lines of code and these companies will supply targeted ads for your content. Simple and easy way to earn passive income.
Over time, as you build up your online business and affiliate relationships, one of the most rewarding things is getting all those affiliate checks arriving each month.
7. Aim For Residual Income
Make it your goal to market/promote products and companies that pay residual income. You have to put in the same time and effort to make the sale but with a residual sale it keeps paying for months and years into the future. Make one sale and receive residual income for the life of that client.
The most successful tactic here is to choose affiliate programs that offer monthly services such as membership sites, hosting services, business services, cable services… once customers sign up for these ongoing services they usually keep them for years. Building residual income is not a difficult feat and can be one of the main sources of a steady passive income for years to come. Imagine getting paid for a sale you made five years ago.
To sum up, creating an online passive income is not a difficult task but it usually takes some time and planning. Instead of going for the quick fix, build up your sites and affiliate relationships over the long term. You will achieve a higher degree of success and in the process you will build a much more secure and reliable source of passive income.
Take the slow road, you will get there much quicker!
Author: Titus Hoskins is a full-time online marketer who has numerous websites, including two sites on Internet marketing. For the latest web marketing tools try: www.bizwaremagic.com For the latest Internet Marketing Strategies Go here: www.marketingtoolguide.com