A question that I get asked a lot is how to earn residual income online. Oddly, a good number of people who ask me that question really don't know what residual income is. So in this article, we're going to first give a brief explanation of what residual income is and then give you some tips on how to earn residual income from your Internet business.
The best way to explain what residual income is, is to give you two examples of earning an income online, one being non residual and the other being residual. Like they say, a picture is worth a thousand words. Hopefully, I will paint a clear enough picture.
Let's say you are selling an ebook on how to make money on the Internet. Once somebody buys that ebook from you, that's it. They never have to make another purchase from you again, unless you have other products to sell. Otherwise, in order for you to keep earning an income online, you have to sell more ebooks.
However, let's say that those ebooks contain links to a membership site that you recommend. If a person was to buy your ebook and then sign up with that membership site, that just happened to be a monthly membership with a fee of $10 a month, you would get money from this signup for EACH month that this person was a member. So you make one sale and earn money for as long as the person is a member. This is what we call residual income.
So, what's the best way to earn a residual income online? Well, the above example is actually one of the best ways. By simply creating an ebook with valuable information, such as instruction on how to make money off of your autoresponder, you can earn residual income. How? Well, if you're teaching about autoresponders then you will probably want to recommend what you think is a good autoresponder for people to use. By doing this, there is a very good chance that you'll get many of the people who purchase your book to sign up with the autoresponder service that you recommend. Each month that they remain a member is another month that you earn residual income from this person, even though you only made one sale.
The key is to promote something that is either membership based, or something that is a consumable product. For example, if you sold vitamins, you'd get reorders each month from all your satisfied customers. This is another way of getting residual income, especially if that vitamin company had an affiliate program where you got a small percentage of sales made by the people you referred who also made sales.
Earning a substantial residual income online is not as easy as people make it sound. There is a lot of hard work involved and you have to understand things like retention rates and payout plans. In my signature, you'll find a resource that goes over affiliate programs in great detail as well as explains how to find one that is going to be worth getting involved with.
It is possible to earn residual income online. You just have to get a little education first.
To YOUR success.
Steven Wagenheim
If you want to get all the facts about affiliate programs and earning a residual income online, visit my site at http://www.honestincomeprogram.com/complete.html and pick up my "Complete Guide To Affiliate Marketing" and get your bonus book "Super Charged Sales Letters" at no extra cost. Article Source: http://EzineArticles.com/?expert=Steven_Wagenheim |
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