What if you could make money without even lifting a finger? We call passive income “passive” but we all know it’s not truly and absolutely passive.
There will always be some work involved, right? But what if there were a way to make your passive income actually passive? Would you do it?
Today we’re going to talk about how it’s possible to completely automate your passive income.
1. Wait, How Can Income Be Passive?
Most people trade hours for dollars. Even when creating a product, most people value their product by the time and effort put in to build it.
But passive income is a completely different mindset. You’re no longer trading hours for dollars, you’re trading value for dollars. And you’re doing it in your sleep.
The goal is to make enough money to fund your life or supplement your income without having to remain on the mouse wheel. It’s the mouse inventing a motor that runs the wheel for them.
2. Enter Affiliate Marketing
Affiliate marketing is one of the easiest ways to generate passive or almost passive income. What is affiliate marketing?
Affiliate marketing is essentially cheap advertising for productized businesses. A business will give an affiliate marketer a percentage of a sale if the marketer can get someone to buy the product.
It’s as simple as dangling a product link in front of the eyes of potential leads and customers. But most of the time it requires some sort of packaging. This could include a blog or an email or a podcast or video.
3. Affiliate Marketing Through E-mail for Passive Income
While some affiliate programs will require a website to even open an affiliate account (I’m looking at you, Amazon), others do not. And if you find an affiliate that does not care, you’re on your way to automated passive income.
E-mail is an easy thing to automate. Even the content can be outsourced.
It can be a completely laissez-faire experience.
But let’s forget about passive income for a minute and talk about pure return on investment. Even if you aren’t looking for passive income and want to start your own business, email marketing is highly influential.
How does 320% more revenue sound? Email marketing can up your revenue by exactly that much. And it’s less work than most outbound marketing techniques.
4. How to Build an E-Mail List
Before you even begin automation, you need to figure out how to accumulate email addresses. One of the easiest ways to do this is through a sales funnel.
This is a simple two-step sales funnel, but it will absolutely work to start building a list for your e-mail marketing efforts.
First, build a simple website. It only has to be one page. A landing page.
On the landing page, you promise some sort of benefit for signing up for the email list. This could be a short e-book or some sort of promotion for your affiliate program. But it has to be interesting enough to bait people into giving you their email and signing up for your list.
One thing you could do if your affiliate program is small enough: write the head of your affiliate to see if they would allow you to run a giveaway. They might even give you their product or a gift certificate, at least.
Once you have a website, you run a short but sweet PPC campaign. Advertise the benefit of signing up for your email list.
Read up on how to create a great PPC campaign. It involves running a couple of pay-per-click ads and writing stellar headlines.
5. How to Automate Your E-Mail List
After you have an e-mail list, it’s time to start sending out emails. But remember, the dream is to pretty much do nearly zero work to gain the income.
This means outsourcing as much as you possibly can.
Find an e-mail marketing automation company. These services are simple and easy.
We’ll use MailChimp for this, but there are other e-mail marketing services you can use.
Set up an Account
It’s free to sign up for most of these. But if you want more bells and whistles, you can pay for their packages.
MailChimp features great tutorials with their free account to help get you started. And it’s web-based, so you don’t have to download any software to get started.
Add to Your List
This is where that subscriber list you’ve accumulated through your website and PPC campaign come in handy.
You can set up as many lists as you need and keep growing your list here.
If you already have a list created, make sure it’s in a CSV file. Otherwise, you can connect your website page to MailChimp to make it easier to build your list.
And if you were already using a different email program before, it’s easy to transfer your entire list without requiring recipients to re-subscribe.
You can target certain people by splitting your list into segments. And you want to make sure you name your lists so you don’t lose track.
A Sign-up Form
If you hadn’t set up a landing page yet, MailChimp can help you do this. They allow you to create sign-up forms and place them on your website.
In MailChimp, you’ll find the “sign up forms” option in the editing menu for your list. This form should be fairly basic. People don’t like to give away too much information.
Set up a Newsletter
This might be something you could outsource down the road. Or you can outsource it immediately for completely passive income.
This is where you will place your affiliate links. But the newsletter should not be about the links.
You have to offer something of value to your subscribers. This means whole pieces of content and advice.
You can embed videos in emails or podcasts. But they need a reason to open the email. You’ll make zero income if you just send random links to people.
In MailChimp, you can automate your newsletters. Spend some time at the beginning of each month or quarter crafting all of your emails. And then set MailChimp to send out an email every week or every day.
Free Your Time
Automating your affiliate marketing efforts will open up your free time. You’ll have time for the important things in life.
If you want to learn more about affiliate marketing check out our other articles on Shoemoney.com.