Whether you run a blog and earn from ads and sponsored publications, you sell goods in your own online store, or sell your themes, illustrations and icons at the stock market, you obviously want to get passive income.
Many modern bloggers earn on referrals. This means they sign up for an affiliate program of a certain product or service provider, promote those products or services on their blogs inserting the referral links into posts and get their percentage for referred users. Some creatives make and sell stock photos, create some digital products for online sales, etc.
A blog, a stock or a Web store are the sources of passive income. You just make publications or upload your products and they work for you. The more content or goods you upload the more income you get. Your task is to make your passive income sources work as effectively as possible to bring you worthy income without unnecessary expenses.
Considering our own experience and some information sources, we’ve distinguished a few key tips on generating more revenue and profit when you passively get income on the Web. So let’s unveil them.
The important step is to analyze your expenses and reduce those that are currently unrequired. Please check if you:
Make sure that all of your costs for the mentioned above services give you a good return or you really need to use them. If not, it’s the very time to refuse of some of them and save your costs. Probably you use some paid-for services or plugins but there are some cheaper alternatives for them, this is also should be considered.
Are there any tasks you have to fulfill every day for your online business? For instance, you check your analytics, monitor the revenue from ads on social media, correspond with customers by email, upload new products or write posts. Some of your everyday tasks should be automated to allow you optimize your time.
For instance if you send a certain amount of emails to potential customers manually, use a script for automatic mailing. If you spend too much time for creating content and there’s no time left to look for effective ways to promote your website better, think of hiring a writer. If people often ask the same questions about your products by email, create FAQ on your website and promote this page to your current and potential customers.
Depending on the time-consuming tasks, think of the most effective solutions to reduce time and efforts for them and increase your working day effectiveness. If you make your tasks run without your direct participation, this is sure to be passive income.
Once you’ve optimized your time, you get more free time to look for ways to promote your business and grow it to get more profit.
If you sell your products on the Web, it’s highly recommended to make sure your store functions well.
There are many plugins offering A-B testing. They will help you evaluate your website, help you decide whether you place your buttons correctly, use relevant tags, etc.
If you run a blog, check it for accessibility for your readers and visitors.
There are lots of automated programs that will check your website for accessibility in the shortest possible time.
For instance, you sell your creative works on a stock market. Let’s imagine you make vector images and icons. Yes, you can upload them to the market and then wait until they are sold and you get your revenue. But there are more efficient ways to earn more:
If you own your own online store and you sell, for example, clothes, you can also offer related goods and batches to your customers.
You can also read more of online marketing tricks and helpful eCommerce plugins here.
Loyalty programs are always efficient for gaining more profit. They allow to attract more customers and increase sales. Loyal customers stay with you for long and deserve some encouragement. Any bonuses and discounts you may offer will be rewarding for your loyal customers.
A great thing is to run a point system. Your customers make purchases and collect points for every purchase, when they collect enough points they can spend them to buy one more product, or a few additional products. This will encourage your customers to buy more and, as a result, you get more income.
Many business owners use Twitter and Facebook for promoting their brands, products and services, but we also recommend to use Reddit – a new social news aggregation, web content rating, and discussion website. People here can share everything they like on the Web, add relevant sub-reddits, customize them, get votes and appear on the top of the page. It’s a great way to become noticeable and recognizable.
Depending on your type of business and passive income, you can use your most appropriate marketing strategy.
Choosing the correct marketing strategy for your business is one of the most effective generators for your good passive income.
As you see, to increase your income you just have to cut your expenses and optimize your time to look for new efficient marketing strategies, communicate with your customers and reward your loyal ones, test your website for user-friendliness and make sure that you do your best to earn as much as possible.