Many marketers debate automation because on the one hand it works great, but on the other hand, it can cut down the one on one engagement. However, if you want to build your passive income stream you should implement automation. If you do it right, all you have to do is get people on your list, assuming they were well targeted, and then you can start earning.
First, let’s define passive revenue. This is income that you earn today (and tomorrow) through the efforts you put in yesterday and today. No one denies that earning passive income is work up front and not at all passive. But, if you build your systems correctly, you’ll be able to take breaks and do less work while your income continues to rise.
Schedule posts to go live on your blog in advance. If you can work your business a quarter ahead, you’ll find that you will make a lot more money due to being prepared. Use your blog as your “home base” or the hub of your online empire. That’s where your educational information and sales pages exist, and where people sign up for your email list. Good technology to use is self-hosted WordPress.
You’ll also need an autoresponder, in other words email marketing software. Some choices are AWeber.com, Drip.com, and ConvertKit.com. These are great systems that almost anyone can figure out how to use to build passive income. Set up an automated series for every single product or service, whether paid or free, that will automatically go to the people who signed up.
Publish a Book
This is a great way to do work up front and then use it to get more customers and clients by telling people about your book. When you publish a book, people respect you more as an expert because they imagine it takes a lot of work to put that information together – in other words, you must be an expert.
Teach What You Know
This might not seem that passive either but if you set up a course on software that all works automatically to collect payment, send autoresponder messages, and so forth, it becomes passive the minute it’s published. Try using software like Teachable.com to deliver lessons hands off.
Sign Up as an Affiliate
An affiliate earns a percentage of sales that are made through their link. Even though you have your own products, find good quality affiliate products to promote to your audience too. Add it to your autoresponder. Choose to work with companies that provide life-long cookies to help build your passive income.
If you think about how you can automate everything, from sales to product delivery, it becomes clear that if you set things up right from the start, you’ll be able to build income for the future that you worked on today. That’s the true definition of passive income: set it up, forget it, and take home the money.