One of the very first things that caught my imagination when I first began to explore the world of internet marketing was the concept of developing passive income streams. The idea that money could come flowing into my bank account whilst I was enjoying a meal out with the family, even whilst I was asleep really fired my imagination. Being paid many times for work that you have done just the once is obviously very appealing.
My background is in the world of music. As an oboist, if I get booked for a concert I receive the going rate for that performance. I am paid just the once for my time and expertise. As a composer, it’s a different matter. Back in 1980 I was commissioned to write a book of easy pieces for young oboists by a major publisher. This I was happy to do. When completed the book was taken up by the Associated Board of the Royal Schools of Music and put into their exam syllabus. The book, happily, became widely used and for 30 years remained on their exam list.
A couple of years ago, in a resetting of the syllabus, it was finally removed in favour of other music. Shortly after that I did a rough calculation. Despite selling for just a few pounds a copy, over those 30 years it brought me in a grand total of about £10,000. THAT, DEAR FRIENDS, IS PASSIVE INCOME! A book that took me about 3 or 4 weeks to compose back in 1980 earned me all that money over many years.
There are a variety of ways in the realm of internet marketing which can be used to create types of passive incomes. Rather than just selling individual items online we can provide courses, monthly information in one form or another or a series of related products on a particular topic. Given that the vast majority of products retailed on the internet are informational, it is fairly obvious that information is an open-ended resource. When a customer buys some information, there will inevitably be more follow-up information which would be of interest to that person; – one e-book, even one 6 part course, is not the end of the story by any means.
The use of an Autoresponder is essential to set up your passive income products to work on auto-pilot. This is smart passive income as these autoresponders can be programmed to send out regular messages to customers; electronically deliver newsletters or monthly digital products; send out instant welcome messages to new opt-ins to your list and all this without any ongoing input from you. This auto-pilot set up will continue to work for years if you want it to.
I remember being a subscriber to “World Books” in my youth. Each month I would receive a card on which was a recommended book with a list of alternatives. I bought regularly from the options on those cards. Every one of their subscribers would receive such a card each month so it isn’t difficult to see how they remained so successful for so long. Their subscriber list generated monthly passive income.
Incorporating products or services into your internet marketing which bring in passive incomes is not a difficult thing to do. It was something that appealed to me when I first encountered it; – and it still does!