Passive Income: It’s Where the Funds Are
First and foremost, Joanie and Heather are moms. In fact, they are what pop culture today calls "Mompreneurs." One of the best businesses for a busy mom is blogging. Joanie and Heather launched KCL from a simple blog using affiliate marketing to generate passive income. "Passive income," by the way, is income that essentially generates itself. How does it do this? Through affiliate marketing, which is a business tool that allows you to make money online by promoting someone else's product or service in exchange for cash.
See Joanie’s post, How to Start a Coupon Blog and Make It Profitable in 30 Days and check out Bluehost, our favorite web hosting site to start building your blog!
Joanie’s post explains how she uses affiliate marketing and to monetize (aka "make money from") KCL's blog. By starting a blog and picking one or more relevant affiliates to promote to your readers, you earn funds every time one of your readers clicks on an affiliate link. In Joanie's post, she explains how she earns $0.42 each day that you visit KCL and click on a Coupons.com affiliate link to print out a coupon.
So Where’s the Catch?
You’re probably thinking, "That sounds way too easy. Where's the catch?" Today, approximately 53% of all bloggers use some form of affiliate marketing regularly or occasionally to generate passive income. In other words, there is no catch!
Here are the first steps to turning your business dreams into reality!
1. Acquaint yourself with how to launch a blog with affiliate links.
Read through Joanie's post "How to Start a Coupon Blog and Make It Profitable in 30 Days" if you’re a couponer and want to earn income through Coupons.com.
2. Complete this short questionnaire.
This questionnaire will help you brainstorm what you want your blog to be about.
- I’m passionate about (fill in the subject, topic, hobby, or issue).
- If I were going to blog about my passion, I think a great title would be (pick a title).
- My five favorite blogs on this (or a similar) topic are (list the five blogs).
- I have the following social media accounts set up (list out the ones you have: Facebook, Twitter, Google+, Linked In, etc.)
3. Follow the steps in Joanie's post to set up your own blog.
You may want to start a blog on couponing or focus on another passion you have.
4. Follow the steps to install the Coupons.com affiliate.
This will get you started earning right away. Later you may want to install additional affiliates (especially if you aren’t blogging on couponing).
5. Now it’s time to craft your first blog post.
Spend some time and create a short (500 word maximum) and compelling blog post to introduce your topic. (Be sure to include at least one original image—either your own image or someone else’s image with appropriate copyright credit added—to improve your blog’s chances of being read.)
6. Start building your audience of readers.
In order to generate passive income, you must have readers visiting your blog who will click on the affiliate links so you can make money. So now it’s time to attract some readers. You can start doing this in three ways.
- Share the link to your new blog and each post via your social media circles.
- Reach out to your favorite bloggers (the ones you listed in the survey from Step 2) and share a post where you reference their blog (you can email them and ask if they will share your post with their readers, or simply post a comment with the link to your blog on their blog).
- Email a small group of folks from your network who are "influencers"—people who have a large social network in their own right—and ask them to share your blog post with their network.
7. Continue writing and marketing your blog.
As you continue following steps 5 and 6, slowly but surely you will build your readership. As you build your readership, you will start to generate more passive income through the affiliate marketing links you have set up with Coupons.com and others. Here, you don’t have to dedicate a lot of time, but make it your goal to generate at least one high-quality, 500-word blog post per week that you can actively market to your networks.
In this way, you’ll be on your way to turning what you love into a profitable business with low overhead and big potential!