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5 Things You Need to Know about Passive Income Opportunities

5 Things You Need to Know About Passive Income OpportunitiesPassive income… the magic words which cause so many people dream of a life of exotic holidays and enjoying every hobby they can think of while money pours into their account. All this money comes to them without any effort, without any work done. This is the dream of most people when they hear of passive income opportunities for the first time. And it is as far from the truth as possible.

Earning a passive income is not something coming to you from the thin air. Even if you join an affiliate marketing program where you get paid for each click on a banner displayed on your website, you still have to get and maintain the website live online and have daily visitors. To sell an app or an eBook, you have to first create it and then to continue promoting it.

Thus, the first important thing you need to know about passive income is that you do not get paid for doing nothing and there are no magic formulas to make you rich overnight (and if you are promised one, run in the other direction as fast as you can). Now that we have got this out of the way, here are five important things you need to know about starting and running a passive income opportunity:

1. Find a Niche You Are Familiar With
The best way to set up a passive income opportunity is in a niche or industry which you know quite well. If you have to learn something new from scratch, it will take some time before you get familiar with it, and it will take some trial and error before you get it right. This will cause you to lose time and potential income – plus you may never get to master the niche to the degree it is needed to help you promote products and services through endorsements or affiliate marketing.

When you are passionate about a topic and are also knowledgeable, you will find it easy to prepare your promotions, set up a website or a blog, and post interesting content to attract lots of readers.

2. Keep Tweaking and Improving Your Product
If your passive income earning model involves selling a digital or informational product, your work is not done once you have posted the product for sale on your website. No matter how popular your product is, competition is lurking around the corner. Once you have sold your product to the first wave of customers, what do you do? How do you keep your streams of income into your account?

You need to continue removing bugs from, and adding new developments, new functionalities and extra features to, your digital product and thus keep it constantly up to date, relevant and useful for potential customers. This is how you can make the second and third wave of customers click on that “Buy Now” button and add more money to your earnings.

3. Customer Loyalty Is Earned, Not Given
The only way you can get money from any type of business model is through other people, who either buy your products or take actions which cause you to get paid. These people need a solid reason to do any of these things: this is called trust. People click on links from trusted sources, they buy products and services from trusted businesses.

To build this trust and, hence, customer loyalty, you need to be genuine in everything you do, from the information you share on your website to disclosing your interests in every kind of product or service you promote. People do not like being lied to – if you have a valid interest in promoting something, then you should have no qualms about stating it. Otherwise your potential customers may think there is something fishy about the relationship you have with the product owner.

4.  Protect Your Reputation
Do not fall victim to greed after you have worked to build a passive income source which works and brings you a satisfactory income. Do not turn your business model into a scam and do not betray your followers’ and customers’ trust. Word of mouth is very powerful on the internet, either to build or to ruin a reputation and cause you to lose every source of income you used to have.

5. What You Give Is What You Get
You should print this heading and place it somewhere visible in your home office. If you cultivate your followers and readers through genuine, valuable and interesting content, through sharing your talent and ideas with them, you get loyalty. If you scrap together a website overnight and put a dozen affiliate banners on it, you will get… nothing. After the first few clicks out of sheer curiosity, the online activity on your digital properties will die down and you will not make any money at all.

As you can see, passive income is not equal to getting money doing nothing. It takes time and work to set up your business model which will continue to generate income for you. It takes dedication and the genuine desire to help people, make their lives easier or more interesting through what you have to offer. This is the true secret behind successful passive income opportunities.


5 Strategies to Succeed as an Amazon Affiliate

5 strategies to succeed as an amazon affiliateAmazon, besides being one of the largest online marketplaces, has one of the most successful affiliate programs. For this reason, the company is quite selective with the affiliates it accepts. This in itself is solid proof of the fact that you can really obtain significant earnings as an Amazon affiliate.

However, just like as is the case with other affiliate programs, you cannot start making money simply by posting some links and banners and doing nothing else. Consider the fact that there are other affiliates like you promoting the same offers. The ones who invest some time and effort in building strategies for promotion are more successful and obtain higher paychecks from Amazon Associates.

What is a real strategy for promoting an affiliate banner? In its essence, it is no different from promoting your own products. It involves building an opt-in list, creating a sense of trust and confidence among your website visitors, saying and doing the right things to convince them to click on a banner and complete a purchase.

These are five ideas of strategies which many affiliate marketers apply with a high rate of success:

1. Encourage Social Proofs for the Promoted Products
Word of mouth is the best type of advertising because it is unsolicited, genuine and, thus, believable. Product reviews are the best form of word of mouth and even Amazon relies a lot on reviews in the promotion of its products.

So, why wouldn’t you do the same? Allow social media comments for every product you review yourself or feature on your website. In this way, you give happy customers the opportunity to describe their experience using the product and offer potential customers a reliable and unbiased opinion on the product.

2. Create Best Seller Lists
People love to “keep up with the Joneses” and own every type of trending, popular and fashionable item, from smartphones to home appliances. Creating best seller lists gives people the sense that they are being challenged to be up to date with whatever is desirable and gives them a good social status – and they will take the challenge.

It is not a deceiving strategy – it is just like the box office or Billboard charts. You tell people what is popular and they are free to keep up with the fashion or not. But, as stated before, most of them want to follow the trends and improve their social image among friends by owning the latest gadgets and technologies.

3. Use Carousel Banners
Why are carousel banners producing higher conversion rates than static banners? Because they give people the sense of choice and control over what they click on. By presenting people with an array of products, you empower them. They do not feel like a captive audience, but free to decide what offer they wish to take up. This simple freedom of choice makes a huge difference in conversion.

4. Use the Amazon ‘Buy Now’ Button
The ‘Buy Now’ golden button with a shopping cart is such a popular image, that people will click on it more frequently than any other type of affiliate link or banner. You can use it even within a product review or other type of content, or place it right under the product photo.

5. Promote Special Offers and Discounts
It is not very hard to find affiliate offers for discounted products, special offers and product bundles. These are best sellers even on Amazon itself, so it should be a breeze to get people to click on your affiliate link and complete a purchase.

Making money as an Amazon affiliate is not rocket science, as you can see. All you need to do is be dedicated to your purpose, understand that people need to trust you before they click on your links, and constantly keep your subscribers engaged with relevant and original content.


Affiliate Marketing Failure Strategies

In this article I will give you some strategies that I see people using to fail in affiliate marketing. Of course they are not doing this on purpose!

The failure rate in affiliate marketing is extremely high, but it is not as high as it used to be. In fact it could be that as high as two out of 10 people are now succeeding. It used to be that 95% of everyone who try to make money as an affiliate marketer fail.

People define success at different levels which helps explain why more people are succeeding at it. Some people are happy to earn $100 a month.

That makes them a success because they know exactly what their goal is. Others want to earn a full-time income as an affiliate marketer and a high number of those who set out to achieve that goal are really doing it.

So what are the failure strategies of the eight out of 10 who do not succeed?

1. They do not set up a separate website. Using the replicated website is not a good strategy for success unless you drive massive amounts of traffic to it. Most affiliate marketers never reach that level.

2. They do not capture names and email addresses for future follow up. This is known as building an email marketing list and is the cornerstone of success for many top affiliate marketers. If you want to ensure your failure do not build a list.

3. They do not own the product they try to promote. This may become less important as you promote more affiliate products.

However when you initially start out owning the product you gives you an advantage over your competitors. You can create a review page and really know what you’re talking about which will help you sell more.

4. They jump around from one product to the next never making money on any. Because it’s free to join an affiliate program it’s tempting to think that the program is what is keeping you from succeeding.

In reality if you would focus on making money with one product before taking on another you avoid failure.

5. They never generate meaningful traffic. If you do not get enough visitors to your website you will never make any sales. Thankfully two out of 10 affiliate marketers now get more traffic than they used to.

This is a handful of affiliate marketing failure strategies that will guarantee your failure. If you would like to succeed try doing these five things as opposed to not doing them!

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