Residual Income Secrets...
Residual or "passive" income is what creates real
wealth. In fact, it has created many millionaires and
will continue creating more.
Understanding this principle is so important to your
bottom line. The reason is simple.
Residual income opportunities multiply the profit
part of your "profit-to-work" ratio.
For instance, if you take a day to make one sale and
earn a one-off payment of $25.00, you have to keep
repeating the same amount of work each day, making the
same sale over and over again to different people, just
to remain in business.
Now, imagine that you are working a residual passive
income system. In the same amount of time, you acquire a
new customer who will pay you $25.00 per month for the
next 12 months. In one day, you managed to secure $300
for the year. In other words...if you wanted to make
$30,000 per year, the one-off approach would require
that you make 1200 sales, while a residual program would
require only 100 sales to make the same amount of money!
The second option sounds a lot more appealing. If you
haven't already, you should consider adding sources of
residual income to your online business. You'd be crazy
not to with so much money on the table for so little
work.
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Residual income is
income that is generated after the work is
done. |
If you are just starting out, or
even if you've already established your web presence,
place a BIG focus on including residual income
opportunities as part of your business plan!
But, keep in mind, not all
programs are created equal. So, here is how to select,
promote and profit your way to multiple streams of
passive income using a logical process flow.
It consists of four simple vital
components that link and synergize together as an entire
whole in order to produce the best possible results. It
makes it easy for you to obtain passive residual income.
Use it and you'll build your own residual windfall in
not time flat.
Formula For Residual Income
Wealth:
Component #1: Select It
Component #2: Experience It
Component #3: Repackage It
Component #4: Replicate It
Component #1: Select It
To begin, you need to be able to
select the right residual income programs based on
certain criteria.
Online residual income
opportunities are built on recurring commissions for the
sale of products, services, and memberships.
You can be the owner of a product,
service, or membership or an affiliate. Let's examine
only the affiliate side of the equation.
Residual income programs come in
several forms. There are:
- MLMs
- Membership sites
- Any service or program with a
recurring fee.
The last point in the list applies
to all programs; that's what is at the heart of residual
programs: a recurring fee.
However, that's not the only part
that counts...
A lot of services and products
fall under this definition. Services like web hosting or
membership sites charge monthly fees which you could
receive a portion of as a commission.
A multi-level marketing company
might pay commissions based on the monthly purchases of
products by customers you refer plus a percentage of
sales made by affiliates you recruit into your downline.
So, the first thing to look at is
the commission structure:
- Is the program single-tier or
multi-tier?
- How often do you get paid?
You should also evaluate how much
work is involved; not just in making the sale, but in
retaining customers.
Going back to our previous
examples, you can see that web hosting or membership
sites bare most of the responsibility for retaining
customers. If the service or the content is good, the
customer will stay.
However, in an MLM, a lot of the
work can fall on you.
Depending on how the company is
run, your position could be extended beyond the normal
definition of an affiliate to something like
"independent sales representative".
In that case, you may have to do a
lot of the maintenance and follow up work yourself. This
means keeping a client database and reminding customers
to re-order products.
It can also mean investing a lot
of traditional time into training your members,
especially if the commission structure is such that your
income relies heavily on the combined percentage of
sales made by your team.
Finally, you must look at the
product or service and ask whether it is something
people would want or need to pay for on a month-to-month
basis.
This is especially important when
evaluating an MLM program. You should be wary of any MLM
opportunity which requires you to pay a fee to join, and
in which your income is generated solely through getting
others to join and pay the same fee.
Component #2: Experience It
Question is: should you promote a
residual income program the way you would promote any
other program? Yes or no.
The same traffic generating
tactics still apply. Tactics like pay per click, viral
marketing, search engine optimization, reciprocal
linking, opt-in list, ezine advertising, article
marketing, etc.
However, the spin you place on
promotion will differ with one step:
You should always use the product
yourself or are the member of the residual site or
service you are promoting.
This is important. Remember, you
are asking the prospect to invest in the long-term view,
a higher ticket item than most other products. Also, the
majority of residual type products require first-hand
experience in order to be promoted properly. How can you
praise the benefits of your MLM's cleaning products if
you have not even actually tried them.
How can you gain the interest of
your prospect with your own story about the profits
you've reaped through your favorite resale rights
membership site if you are not a member?
The is the key to the way these
programs are sold...
You need the benefit of being an
'insider' in order to hint at what lays on the other
side of the order button.
Finally, you need first-hand
experience in order to determine whether YOU would be
willing to pay monthly for the product.
If you are not impressed, there is
a good chance that your referrals will not be either;
and you have to fight to keep your commission up as
people start dumping the product like flies.
Component #3: Repackage It
Residual income programs offer one
of the most ideal opportunities to exploit the power of
freebies and special offers.
In order to get the most referrals
is simply to create complementary product or service to
the actual program you're promoting.
Then offer this as an edge or
'bribe' to encourage prospects into joining you through
you affiliate link, instead of someone else's.
The one thing you can do to
increase your results is by capturing and following up
with these prospects at the same time.
You should seize the chance to
build your own specialized opt-in list of targeted
prospects in in your sub-niche or 'mini market'.
To work well, your bribe needs to
COMPLEMENT the main program. In a perfect model, it
should achieve these two key factors for your referrals:
- To enhance their usage and
benefit the residual program joined.
- To help them make their own
residual income from the same program.
For example, if you look below,
you can see that I do practice what I preach.
If you click on the image below, I
am giving away to those who join from the link, the
opportunity to download a report along with, not one,
but two bonuses.
This is what is meant by creating
a complementary bribe around the two factors for optimum
results.
Component #4: Replicate It
What you have just learned are the
first 3 components which is enough to make you a solid
passive residual income base, that is if you apply it.
However, if you want to take
things to a more profitable level and expand your
business, all you have to do is to...
...Replicate this success formula
across different programs, or recreate new bribes to
attract more referrals into the same program.
The fact is that Internet
Marketing is not complicated. Too many marketers are
turning what's straight-forward and easy into something
totally complex as they cannot 'believe' that's all
there is to it.
While there are many ways to skin
a cat, focus on a system that works for you once you
find it. You really don't have to reinvent the wheel;
you just need to add more fuel to improve its
performance.
Similarly, the system revealed
here, though simple, does produce results. When the
rubber meets the road, what do you want at the end of he
day? I'm not a mind reader but my guess is you want
Money and Real Results. Therefore, component
#4 is important. Replicate and duplicate the system and
you'll exponentially build on your residual income
windfall.
In conclusion, what you have seen
so far are the steps required:
Component #1:
Select the right residual income program to focus and
work on.
Component #2:
Experience the program so you'll know
exactly how to market it.
Component #3:
Repackage the main program by creating your own bribe to
increase referrals. Once again, it must complement the
program you're promoting.
In order to market your own unique
bribe, create a simple direct response webpage with good
sales copy listing the benefits prospects will get from
you; if they become your referral.
It is imperative to capture their
emails in order to follow up and build a targeted list.
Next, send qualified traffic to
your web page and test the conversion rate, improving
upon your web copy to increase response continuously.
Some proven traffic tactics for this purpose include
Google Adwords, article marketing, ezine advertising,
press releases and joint ventures. That is it. Simple.
In conclusion, I would just like
to point out that...
In order to profit long-term, you
need to employ integrated thinking and marketing.
Any residual program you choose
will go through changes.
Your focus is to stay on top of
the changes and promote the service from a user's
perspective...create a community, offer useful tools and
information and, most of all, stay in contact with
subscribers even after they've converted into customers.
By creating a shared experience,
you'll be able to retain those customers for a long time
to come...and that means more residual income for you,
with a lot less work.
Hope you've found this information
useful and profitable!
To your residual income success!
Lawren Smith
Note: This special report
was created with the intentions of revealing how to
generate massive free leads.
Internet
Marketer's Guide To Article Marketing
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