How to Generate Passive Income without Digital Products
How to Generate Passive Income without Digital Products
Did I get your attention with that picture of money coming out of the computer? It is an excellent example to show that your computer can make you money! Ever wonder how some people are making passive income without even having their own digital products to sell? It is not as hard as you might think. Do you spend hours on social media? Perhaps you have a HUGE Instagram following, thousands of Facebook fans, lots of Pinterest followers or YouTube subscribers, why not monetize those fans?
Here is how it works. Pick your favorite social media outlet to start out. Make sure you have a narrow focus with good engagement i.e. comments, likes, repins, shares, etc. Once you have a strong following start sharing affiliate links or sponsored posts. Of course, you have to disclose that they are affiliated or sponsored posts (which has its own set of legal rules associated with it so be sure to do your homework). It is truly that easy.
Let’s use an example. Let’s say you LOVE to cook and Facebook is your favorite social media outlet. (Side note: did you know food videos have the highest engagement and share rating on Facebook?). You start a Facebook page. You start posting and sharing videos about cooking from all over the Internet and Facebook. Your page starts to get more and more likes. You notice that your crock pot recipes get the most likes and shares compared to all of your other recipes you share. You decide to research affiliate links that you can share about crockpot recipes ie Amazon affiliate links for Crockpots, ebooks about crockpot recipes, etc. You start sharing some affiliate links with your Facebook fans. When they buy from your links, you earn passive income!
Here is another example. Let’s say Instagram is where you get sucked into social media. You have an Instagram profile that is all about hair and make up. You are constantly sharing different pictures about how you do your hair, your friend’s hair, make up tips and more. Each post gets hundreds or even thousands of likes. Your page has thousands of followers. Time to try and turn all those likes into money. Share affiliate links in your post. For example, you use a certain type of flat iron. Share the Amazon affiliate link in your profile. (again, make sure you are following the legalities regarding sharing affiliate links or sponsored posts). Looking for sponsored posts where you can share images of a certain product? Use hashtags on Instagram and small businesses may notice your following and contact you. Be sure to include your email in your Instagram profile so people can contact you to discuss terms of the sponsored post and payment.
Basically, you can create similar set-ups with any social media outlets. Remember to stay focused on your niche market and be consistent.
Would you rather create your own digital products? Read more below:
5 Ways to Generate Ideas for Profitable Ebooks
How to Write an Ebook in 30 Days
