How do you develop a residual income and what exactly is residual income? This is the holy grail of internet marketing and when you finally build up a decent residual blog income then you can indeed live the big awesome: drink fine wines, dine on epicurean delights, travel on exotic vacations and live in the house of your dreams (yes I know, it’s a recurring theme with me).
Residual income, also known as passive income is a set it and leave it money machine. This type of income is most often associated with music, movies and runaway best sellers. Every time a blockbuster movie is played in theaters a whole lot of people get paid royalties which is yet another name for residual income. Now wouldn’t you want to wake up every morning, check in with your computer and see that while you were asleep, your online business made you some money? Absolutely!
Affiliate marketing is one such money machine and works best when powered on all three cylinders. We already covered:
Now we add Residual Affiliate Marketing. This is any program that has a continuity component built into it. Membership programs are an excellent example as are renewable subscriptions.
Most of the digital affiliate programs already offer a continuity program which can include but are not limited to: memberships which give access to the latest updates via newsletters, webinars, podcasts, exclusive interviews with professionals in their field and often advance notice of a new program about to be rolled out.
In the physical affiliate sector a common type of continuity program would be a product of the month club. You often see this in coffee, chocolate, wine, and florist industries. Gift basket business are also a good fit especially if marketing to the corporate sector.
In both the above instances you earn a recurring monthly income for as long as the customer is an active member. In addition to Clickbank, Commission Junction and the search engines, you can check out these two directories:
http://www.lifetimecommissions.com
http://www.affiliateguide.com/residual.html
Here is what this three pronged effort looks like:
Digital product: Even if your visitor is looking for a physical product such as cigars, you can still have an informational product that gives more information about cigars, their history, where tobacco is grown, etc.
Physical product: That would be the cigar itself, clippers, a humidor, and other accessories for cigars.
Residual product: Membership in a cigar of the month club.
In summary, effective marketing in all three areas will triple your income over just employing one of the affiliate marketing options. Set up your affiliate marketing in such a way that you have something to offer to every visitor that comes to your site.
Here is to an awesome blog income life!
Valentina
Affiliates are cheesy!
