There’s several ways you can build online passive income streams. One of the quickest ways to generate a passive income is to buy an affiliate website which makes money already. You can find websites which earn money passively from Flippa.com which is an affiliate website marketplace.
Of course the websites which earn more money are more expensive to buy. The cheaper ones tend to earn very little or nothing! You’ll find a host of digital assets you can purchase on Flippa.com from blogs to online businesses, from apps to e-commerce stores.
Do your due diligence before making a purchase and remember that a website’s income can go down over time, so it pays to research any website you are interested in buying.
Online Passive Income Streams – Blogging
Owning your own blog is another way you can generate a passive income. Bloggers create content on a website and over time they can generate free traffic from social media and the search engines. If you’re on a tight budget, blogging might be the way to go. But with over 600 million bloggers on the internet, you’ll need to have a lot of patience and put the hours in if you want to build a passive income from blogging.
A new blog won’t generate much traffic but longer term bloggers can build a passive income over time by using advertising or affiliate marketing on their blog posts. Using ads on your site generates income from advertising clicks from your visitors. Affiliate marketing is a referral based business in which affiliates make money by product recommendations. See affiliate marketing vs Google Adsense.
If you intend to make a passive income from blogging, expect to create a lot content over a long period of time. Only then will you generate enough traffic to make it pay. See also passive income from blogging.
Online Passive Income Streams: Recurring Revenue From Subscription Products
Another way to make a passive income stream online is through the use of recurring income affiliate programs. With a recurring income product you can generate ongoing income from each referral sale you make. You can use multiple different strategies to generate affiliate sales online:
- Blogging
- PPC – Pay Per Click (Paid marketing)
- Email marketing – see the power of email marketing
- Social media marketing
- V’logging – see blogging vs vlogging
One of the fastest ways to grow a passive income from affiliate marketing is to promote a high ticket sales funnel which has a number of products within it. One of the products should be a subscription product from which you can earn a recurring and passive income.
The advantage of a high ticket product range is that you can more easily tap into paid marketing as a strategy. Paid marketing is much faster than blogging in terms of generating traction from an affiliate business. With lower value affiliate products, it’s much more difficult to make a profit while running paid ads. But with high value items, you can more easily recoup advertising budget and make profit.
Paid marketing is also much more scalable than blogging, for example, or any other slower organic methods.
Drop Shipping
Drop shipping is another online business model whereby you can promote a third party product and become a “middle man” to make a virtually hands off business. Drop shipping is similar to affiliate marketing in that you become a third party referrer of products and services. By finding customers and making sales you can earn money from making sales and then sending products directly from the distributor to the customer.
Drop shipping is slightly more involved than affiliate marketing in that you need to create a platform to make sales, deal with customers and order products as necessary. With affiliate marketing you simply refer customers directly to the product. When a sale is made with affiliate marketing, you’re credited with the sale through your affiliate link. So drop shipping is slightly less passive than affiliate marketing. However you can outsource much of the day to day workings of the business with both models.
See also drop shipping vs affiliate marketing.
Video Blogging
V’logging is another method of generating an online passive income stream. A video blog is another way to generate free traffic from the YouTube or TikTok search engines. Like blogging, expect to build a library of content before you’ll earn anything from v’logging.
To monetise YouTube with affiliate marketing is easier than to join YouTube’s partner program because you’ll need to be well established to do so. You’ll need over 1000 subscribers in order to partner with YouTube and earn through monetising videos with ads.
Getting traffic for free on YouTube or TikTok can be tough too. Although there’s less competition than on Google in the case of blogging, v’logging can be a long road to a passive income. See blogging vs vlogging for more on this strategy.
Summary
The faster methods of earning a passive income online require a lot more investment. Buy a profitable site from Flippa.com for the least amount of work, just be careful and do your homework beforehand! You can purchase a high ticket sales funnel and promote it with paid marketing. This is one of the best ways to build an online business which is scalable globally from which you can earn passively.
Blogging, v’logging and content creation is more time consuming but if you’re on a budget it might be a good fit. It does take considerable time and effort to build enough content online to start generating a passive income from though. So if you’re going this route choose a topic you’re passionate about so you enjoy the journey! See also best niche to blog about.
