Micro income streams are so much better than one single income. A single income usually comes from a well paid job, which takes a huge amount of your time. Micro income streams on the other hand can be largely passive and you can build them up over time around existing work.
A micro income stream might be a royalty income, a rental property you own, or income from the internet. The internet offers one of the best opportunities today for anyone to get involved in making micro income streams.
A micro income stream might not replace your main income straight away. But it’s something that can grow over time, if you give it some nourishment.
Micro Income Streams – Blogging
One strategy to build micro income streams which is accessible to anyone with a laptop is blogging. With blogging you create an online resource, or a digital property which you own. Blogs can then be monetised either through advertising or affiliate marketing. What is affiliate marketing? Affiliate marketing is a referral based business model in which affiliates refer customers to other people’s products. When a sale occurs online which has been referred by an affiliate, they earn a commission based on the sale. The best part about affiliate marketing is that the sale can be completely hands off and passive.
With blogging as the marketing strategy, it can take some time to build your online resource/blog. But over time your blog can work for you, making commissions from advertising or affiliate marketing. See also blogging QnA
Adsense – Micro Income Streams
Adsense is a popular way to monetise online content. You can also use Adsense with video too. On a blog, adverts are placed around the written content. When visitors click on adverts, the blogger earns a commission based on the advertising revenue.
With YouTube, advertising is placed on your videos and the same applies. You earn revenue according to how many people click on your ads. With both blogging and YouTube videos, it can take some time to earn even just a regular trickle income.
But some bloggers and YouTuber’s have this down to a fine art! They create a huge library of content which generates a growing number of visitors. Over time this starts generating income passively. The more content they create, the more they can earn. Whilst many struggle with monetising their content, top YouTuber’s and bloggers earn a full time living from their content generation.
Recurring Revenue Affiliate Products (Subscriptions)
Recurring revenue affiliate programs can pay you ongoing commissions for years and potentially for a lifetime. With the right products, customers will continue using them forever! See lifetime commissions affiliate program. Subscription and membership products are products and services which offer ongoing value. Software products and training programs fall into this category. You don’t have to personally own a product or offer a service to benefit from these kinds of products.
An example is an autoresponder email service for online business owners. Online businesses depend on software like this. So if a business becomes profitable, they’ll use this service continually. If you have referred the sale, you benefit from ongoing recurring commissions.
Selling just one subscription product once can give you an ongoing micro income stream for life.
Micro Income Streams – Email Marketing
Email marketing is one of the simplest ways to generate passive micro income streams. With email marketing, you send targeted visitors, or website traffic, to a landing page to collect the subscribers information. Once a visitor enters their details they join a database of email subscribers. Emails are sent out to subscribers promoting useful products and services – affiliate products.
Over time, email lists can grow in numbers into the tens and even hundreds of thousands. So, an email can be sent out to a list of subscribers, and hundreds of affiliate products can be sold at the same time! This process can be automated and scaled up quickly to generate a passive income from anywhere too!
This means email marketing is one of the best ways of generating micro (and not so micro) income streams. See the power of email marketing.
Online Design – Redbubble
Redbubble is a clothing company which pays artists to upload their designs.
So if you have a creative flare, or even an existing design, you can upload it in just a few minutes. Should your design catch someone’s eye and they make a purchase, you earn a commission based on the sale.
Photography Sites
If you enjoy taking photographs why not turn your passion into micro income streams? Foap.com, and several other such websites offer to pay you when someone purchases your pictures or videos.
With this micro income strategy, you should be uploading images on a regular basis for some time ideally. A single image won’t likely bring in much, but if you’re a photographer, you can upload images regularly and you should see some trickle income from your work over time.
An Existing Website
Do you already have an existing website? If so, you can monetise it passively using affiliate products!. Amazon and eBay are two of the most popular affiliate programs which anyone can join.
Ideally, decide who your audience is and what they are looking for. If there an affiliate program which offers something your visitors would like, simply put a link on your site, or use existing images and sales banners.
Other affiliate sites include ZVzoo.com, Clickbank.com and Click2Sell.com. To find affiliate products within your topic, just do an online search for “your topic affiliate programs”.
Most affiliate programs have banners and images you can use directly on your website to promote products. If someone purchases a product from your website, you earn a commission. You don’t need to deal with customers and send products and it can be another passive income trickle for your collection!
Learn more about affiliate marketing here.
Micro Income Streams Summary
So there’s a few micro income streams you can use to start building a passive income. This can take some time and effort, but over time, these income “trickles” can grow into something more substantial.
Interested in learning more about earning online? You can access a free webinar by clicking on the image below.
