Imagine being sound asleep and dreaming your piggy bank or shall we say, merchant account, is being filled to the brim with cash? So, you wake up, roll out of bed, fix a cup of coffee, check your email and notice several new transactions from your merchant. You realize it was not a dream after all! Cha-ching, you’ve created a marketing strategy to earn passive income continuously! In fact, many savvy entrepreneurs are creating online business models using the internet and social media to market 24/7. They are literally turning on their computers every morning and are greeted with multiple sales.
So how can you create a marketing strategy that works even when you’ve stepped away to go golfing, attend your son’s baseball game, on vacation or sleeping? Here are 5 inexpensive marketing strategies to make money 365 days per year.
Launch a Business Blog
As an entrepreneur, it makes good business sense to establish a blog. Once you decide to become a blogger, it is imperative to gain exposure. By doing so, will build your subscriber base and revenue. Here are 3 tips to automate your blog:
Blog links are vital by which search engines establish who, what and why of your blog and ultimately how you are rank in search results. Subscribing to blog directories will help in link building. Many bloggers list their articles in blog directories. There are literally hundreds of them, but here are a few that we am familiar with:
- Blogarama is a categorized directory of blogs and journals. www.blogarama.com
- iBlog Business Directory is a blogging portal featuring the best blogs and news in the
- Business blogoshpere. They use strict editorial guidelines ensure the integrity of its growing collection of business bloggers and related business topical information. http://www.iblogbusiness.com
- Technorati is a real-time search engine for blogs that tracks what is current and popular. It offers the ability to search blog postings using a tag library, list your blog and find out who’s linking to it and from where. http://technorati.com
- Pay-per-action: a blogger can earn money from the advertiser each time visitor clicks on the ad and performs an action such as making a purchase.
- Pay-per-click: a blogger is paid by the advertiser each time visitor clicks on the advertiser’s ad.
- Pay-per-impression: a blogger is paid by advertiser each time the ad appears on the blog’s page.
Many bloggers use affiliate ads to provide products to customers. Bloggers are compensated when purchases are made. The key is to offer products that compliment your business. For example, a benefit to members of National Association of Women on the Rise is access to business resources, such as:
- Aweber: an auto responder service provider
- BizFilings: help small business owners to form corporation, limited liability company (LLC) or other business structure; with a full range of business filing and compliance products and tools.
- 1Shopping Cart: an automated shopping cart solution to manage all aspects of an eCommerce business – reducing operational costs and increasing efficiency.
Two popular affiliate advertising programs:
- Amazon Associates: allows business owners to make money selling affiliate products.
- eBay Affiliates: pays Internet publishers, Web masters, online partners, and eBay sellers to drive new users and sales to eBay.
Write an E-book
Writing and selling e-books are big business! This is due to the popularity of the internet and digital products. Many entrepreneurs use this technique to earn passive income. You don’t have to be an expert in writing e-books, merely, having a message that appeals to your audience. Consider writing a ‘how to’ on a subject that you are an authority on. The possibilities are endless! In addition to making money while you sleep, you will:
- Establish expert status within your industry
- Fulfill the need of impulse visitors of your website
- Earn additional income by revising as your industry changes, and offering your new editions to your current and future audience
Create a Membership Association
Virtual membership sites are very popular as it provides a continual source of recurring revenue. The revenue can be frequent and substantial as members join. After creating your first successful membership site, you can use the same process to create several new membership sites. A few things to consider:
Determine your market. It is important to define your target market. Do you already have a following that you can convert into members? If not, consider starting a group on Facebook or LinkedIn. This is how I grew in popularity as business expert. By doing this, made it easier to start National Association Women on the Rise. Recruiting and retaining members will enable you to have a successful site.
Create content for your members. Be creative in how you provide information to your members. For example, we use:
- Audio: Audio Acrobat
- Written content: Blog articles, interviews, downloadable PDF files, eBooks, resource guide
- Video: Vimeo, Camtasia
Research membership site software. This will enable you to manage your member site. A few things to consider:
- Membership levels: you can offer two or more levels adding additional benefits with each one.
- Encrypted payment gateways such as Authorize.net
- Training program using webinars, teleseminars and inviting expert guests
Select a Membership Platform. There are many to choose from so do your homework before making a decision. Here are a few that we are familiar with:
Develop and sell an App
We are constantly introduced to new applications on the market for either cellular services such as I Phones, Blackberry and other PDA’s; or social network sites such as Twitter, Facebook and MySpace. Why not create your own app? Though technical knowledge is helpful, it’s not necessary. It is important to plan what kind of app you want to create; and it should be a practical and worth the price you will charge for it.
According to Lloyd Reshard, founder of Tip or Tap Marketing, LLC., and an award-winning electrical engineer with over 20 years experience as a research scientist, says, “Apps use your phone’s web browser, so in that sense they are WebPages. The get more complicated when they interact with the native features of your phone. Some typical native phone features are sound, touch, GPS,accelerometer, clock, Bluetooth, Wi-Fi and temperature just to name a few. Using the Socialight do it yourself location based platform I didn’t have to write a single line of code to develop the 1st Friday iPhone app.”
As a bonus, Reshard is offering the iPhone app, ‘1st Friday Mobile’ available to our readers for free at the Apple App Store. For Android and other smart phones users, can use the mobile website version of the app at 1stFriday.mobi.
In conclusion, by developing a strategy for creating residual income will ensure that your business is making money whether you are working or NOT!