Last Updated on Apr 8, 2020 by James W
Imagine waking up in the morning and checking your inbox to find that you’ve sold $1000 worth of product overnight! And you didn’t have to do anything to make it. Well, that’s not true. You had to do some work on the front end of your money making idea to be in a place where you can make money while you sleep, however, it is possible. If you are interested in creating a passive income product that can bring you money while you sleep, read on.
Choosing the Right Product
When it comes to creating a passive income product, you need to think about what it is you want to offer people. Is it a book? eBook? Workshop? Course? What is it that you have to offer people? Many business owners are looking to expand their offerings through passive income products and adding a product that customers can add to their carts or order online makes perfect sense. Especially when you only have to do the work once to get that return on your investment. For this example, let’s say you are going to offer an online course.
Building Your Product
If you are going to offer an online course, you’ll need to spend some time working to put the course together. There are lots of websites that can help you design and launch an online course and make money from it. Once the course is set up, you have to market it, but hard work is already complete in building the course.
Market Your Course
The best way to make money in your sleep from a passive income product is to set up Google Adwords and let the internet bring customers to you. For example, if I am writing a course on how to make money online, I will be sure to include the phrase “make money online??? in my course description so that they potential customers search that phrase, my course will show up in the Google results. If I am offering a course on Bankruptcy in Toronto, I will need to include keywords about bankruptcy Toronto and areas. Adwords will bring customers straight to your product.
Follow-up Sales Opportunities
When a customer has purchased your passive income product online, you can set up a series of email marketing messages to entice them to purchase more products from you; for example, another course on bankruptcy or otherwise. By continuing to provide ongoing opportunities for your customers, you can build a strong relationship with them, and you don’t have to do all the work all the time to make those sales. Passive income products are a dream come true for business owners looking to bring their business to the next level, become experts in their field, or to simply promote another product they offer on a regular basis. If you think passive income is a pipe dream, think again. Millions of people are using the power of the internet to bring hundreds and even thousands of dollars worth of income into their lives every day without lifting a finger beyond the initial work they did and some heavy marketing on the backend of the product development. Give it a try – you might be surprised!