What is the fastest way to make passive income? While royalties are a great way to earn a passive income, it can take years of training/work to get into a royalty earning field such as acting or writing. Owning property is another way to earn a passive income but this takes investment. So if you don’t have the capital this can be difficult. Putting money in a Real Estate Investment Trust (REIT) is an option too but again, requires an investment in order to make money.
The fastest way to make passive income I’ve found which requires less investment has been through an online business model using affiliate marketing. With affiliate marketing, you sell other people’s products and services through online content. Affiliate marketing can take some time to learn, but with membership products and subscription services you can earn a residual ongoing and passive income once you’ve done the heavy lifting. Do it right and this income can grow quite quickly too.
Fastest Way To Make Passive Income
With a membership website, and through using existing products and services which pay referrers an ongoing income, you can make a passive income quite quickly. To create your own membership products and sell them takes time and a lot of work. Plus you’ll need to come up with some product or service which is worth paying membership for. But with affiliate business you can “piggy back” on existing products which offer huge value already, and which are already selling.
Membership and software products are the best for giving you a passive income. Those are the kinds of products which business owners use to run their businesses. Once someone has a successful business online, they are going to need those products. So if you have referred the sale, and the affiliate program offers ongoing commissions, you can potentially earn an income for life from each sale!
Fastest Passive Income – Email Marketing
Email marketing is one of the best ways to market affiliate products. The fastest way to build a large email list of subscribers is through using paid marketing. Of course there’s an investment involved in doing this but there are cheaper (slower) ways too, such as blogging/v’logging (video blogging).
Many bloggers make a passive income through creating content, much like this website. When a blogger sells something from their blog, they earn a commission. Bloggers also create ebooks to encourage visitors to join their email list. Then, they sell affiliate products to their subscribers.
The building of an email list can be largely automated too. Which further helps this income source to be a passive one.
The main problem for affiliates who build their list with paid marketing is recouping their expenditure. The best way to solve this problem is to use a high ticket sales funnel with a number of products and services to sell. What is high ticket affiliate marketing? High ticket affiliate marketing refers to the price of the affiliate product and also what you can earn from a single sale. While subscription affiliate programs pay ongoing commissions, high ticket products produce larger single commissions. Combining both these earning strategies means you can more easily scale up quickly and generate an ongoing income.
Access Step By Step Modules
To learn how to sell affiliate products does take some investment of your time. Promote high ticket and subscription products for the best result and return. With subscriptions you can earn a passive income from each sale which is what makes them so powerful for affiliates.
Join a training program and follow a step by step modular system. You’ll be able to build a fully functional sales funnel and promote existing products and services including subscription products. Your website can be set up with a few clicks and you can choose a number of marketing strategies to promote your website and/or landing pages.
Promoting affiliate products can be done in a number of ways:
- Using YouTube to create videos and draw visitors to your website/affiliate products
- Blogging and building websites
- Using social media platforms
- Promote using paid marketing platforms like Facebook, Google Adwords or YouTube
- Using an email list and emailing subscribers
Summary
One of the fastest ways to make passive income is through selling subscription affiliate programs. With subscription programs you earn ongoing income from previous sales. Even a low value monthly membership which pays out $20 in commission to affiliates will grow as you get better at selling. Sell 10 products and earn $200 a month. Sell 100 and earn $2000 a month. Sell 1000 and earn $20,000 a month.
The hardest affiliate sale to make is your first one and this can take some time to learn. But once you have sold one product, you can sell many more. Through using paid marketing and the power of email marketing, you can scale up to sell to many people in a short amount of time.