One of the best ways to make residual income is through the selling of subscription products. With a subscription product, you can earn continually from each sale. Don’t have a subscription or membership product offering of your own? Not a problem. You can easily partner with subscription affiliate programs which pay out recurring commissions.
Good subscription programs offer the most value. For example, Aweber is a tool used by online business owners to connect their subscribers to a product through email marketing. What’s great about promoting such a product is that once someone is using a product in their business, they are more likely to maintain their subscription. Often they will maintain it for life.
Best Ways To Make Residual Income: Email Marketing
Speaking of email marketing, it’s also a useful way to build a residual income from the sale of affiliate products. With email marketing, you can build a huge list of subscribers and send them to products and services which they are interested in. One of the best strategies to do this is through using paid marketing platforms.
While paid marketing can become expensive, if you cover the cost with an entry level product sale, you can effectively build an email list for free.
Building an email list is one of the best things you can do for a residual income. As your list grows, and you connect with subscribers and offer them products and services which can help them with a particular problem.
To build an email list you can use a paid marketing platform such as Facebook, Google Adwords or Youtube. Send targeted subscribers to a landing page and collect their email address. Follow up with automated emails. Once set up this is basically an automated system which can sell products online without doing anything further.
A Product “Suite”
A product suite is a product range which you can use as an affiliate to earn greater levels of commissions. Apple, for example is one of the most successful companies in the world because of their integrated product suite. They offer mobile phones, tablets, laptops and computers. Once an Apple fan, always an Apple fan. Whether you’re an Apple fan or not, it’s a business model which works. Sadly Apple don’t have an affiliate program but there are affiliate product suites you can use.
Some of the best products to sell as an affiliate offer a number of products within a product range. This is good because you can promote the “entry level” product and your customers can upgrade to a higher level product later down the line. You still earn earn the commissions because of your initial referral, but you only refer the initial sale.
This is great in combination with an email list because you can recoup your advertising budget on the first product in the suite. Then make profits and residual commissions on the membership (subscriptions) and higher ticket items. See also high ticket affiliate marketing products.