5 ways for making passive income as a blogger
The internet has made it possible for people to make passive income without having a job. So, how do you go about making passive income? The answer is through a variety of methods-and all you need is a laptop, a place to work and great internet (use this internet speed calculator to help!) Some of the most popular ways to make passive income are…
Affiliate marketing
Affiliate marketing is a strategy in which an individual or company advertises another company’s product, typically online, and is paid a commission for the sale of that item.
Affiliate marketing can be done by anyone with access to the Internet and an affiliate program. It doesn’t require any special skills or training, just some basic knowledge of how to use the Internet and either a website or social media account. There’s affiliates for everything from ebooks to courses to your weekly shop of Amazon. I have a few blog posts on affiliate marketing you may find useful!
Writing an ebook
An eBook is a great way to promote your business and get your message out there. To sell an ebook, you need to write an informative, persuasive, and well-written book that people want to buy; something that sells people’s problems.
You can sell your ebook in many ways- I use Payhip but you can also use Gumroad or Shopify. You can promote it on social media, advertise it on Google AdWords or Amazon, or even just send it out as a PDF attachment in an email.
Investments
Investing money is always a risk. However, the potential rewards of investing are worth the risk and it’s something freelancers often do-especially when they may not have access to a traditional pension.
Investing your money can be a good idea if you want to grow your wealth and stay on top of your finances. There are many different ways that you can invest your money, such as buying stocks or bonds or even using Crypto.
Cryptocurrency is a type of digital currency, which uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds.
Whilst this can sound daunting, you can use sites like AQRU to help understand Crypto, and how to invest in it wisely can be a good idea.
Changing to a ‘one to many’ model
If you are a freelance, you’re probably used to an ‘hours=money’ scenario. These are fine but aren’t exactly passive. Considering ‘one to many’ options such as webinars, courses or memberships are slightly more passive. After all, if you’ve put in the work; 20 people signing up instead of 10 is twice as much profit yet with little extra work as these models are the same amount of work, however many you deliver it to.
Site advertisements
Finally, using site advertisements like Mediavine or Google adsense are a way to make passive income. Once these are set up (which doesn’t take long at all), you simply rely on your existing content to make money through these ADs-these are great if you have popular, evergreen content. I use Mediavine for this.
What’s your favourite way to make passive income as a blogger?