|Posted on November 12, 2016 at 11:00 AM|
One of the best ways of earning passive income online is to sell information products. What that means is that you are no longer swapping your time for money, the money comes in while you are 'passive' - hence the term "Passive income". The way it works is that you make or build your product once and put up a site on which to market it. Then the website does all the work for you, selling your product over and over again. What sort of income could you expect to make online selling information?
Well, you can do forecasts based on the industry averages to make a prediction of your potential. The industry average for selling downloadable products via a website is about 1%, that is 1 in every 100 people that visit the site will buy the product. So if you can get 200 people to visit your site each day, and 1% buys a product (say the price is $40) then at 2 sales each day, your site would average $80 per day, $560 per week which makes $2240 per month. Do you think you'd like an extra $2240 a month passive income?
Earning passive income of over $2000 a month would probably make quite a difference to most people's lifestyle, what about yours? Of course those numbers are based on only 200 visitors a day, what if you could get more? What if you could get 500 or 1000? Of course there are some products that will sell at a higher or lower conversion rate; however 1% is a good average to calculate your figures on. Some people just set up one site and let it tick over without doing anything else, others will choose to duplicate the process over and over giving them the opportunity to leave their day jobs. Here are the top 3 types of Information products sold online:
With so many platforms that an amateur indie author can publish on such as Amazon, Smashwords and Barnes and Noble. It's no doubt that selling ebooks online has become the top way of earning passive income online. There are so many genre's to write about, however, if you are writing to market be sure to do your research first on what genre's sell best and how to market those e-books.
2. Online Courses
Everyone wants to learn something new at one time or another and fortunately all of us have some knowledge that we can teach to others. That's the beauty of online courses. Shorter than traditional school we can all become "teachers" by recording our information and selling it on websites like Udemy or Skillshare to earn passive income over and over everytime someone signs up to attend our online course.
At first blog websites appear to be free, but if properly monetized your blog can bring in thousands of dollars a month of passive income. There is alot of work on the front end setting up the blog, affiliate products, ad networks etc. However, after you set your weekly posting routine you can make money off of the blog with only a few hour of "work" posting each week. This is a great opportunity to earn passive income for anyone who loves to write.
Selling information online is a really great way to create a passive income for yourself. Are you currently selling informationtion products? Feel free to comment below about your experience selling information products.
Categories: Passive Income