Most people are awakening to the reality that to create wealth, we can not solely depend on active income. Wealth creation requires having diverse income streams. On this post, I am going to discuss with you, ways to create passive and residual income through affiliate marketing. I will be discussing the following :
1. What is Active Income ?
We are all familiar with this type of income. It refers to income received from performing a service. This includes wages, tips, salaries, commissions and income from businesses. It requires your active participation. Most of us have grown up knowing and relying on active income.
2. What is Passive Income ?
This term refers to an income stream resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it. Passive income is usually derived from two sources: (a) rental activity or (b) trade or business activities in which you do not materially participate.
3. What is Residual Income ?
Residual Income basically refers to when you continue to get paid after the work is done. Examples include royalties from books movies or songs and income that comes from real estate or business investments, where you don’t have to be present to earn it. To create real wealth, you need to be generating residual income. Think about the movie stars, musicians, writers etc. They keep generating residual income long after they had completed the movie or recording via royalties.
4. What is Affiliate Marketing ?
Affiliate Marketing is simply the art of promoting other people’s products or services to earn a commission. If you are new to the concept of affiliate marketing, please refer to my related posts below:
5. Benefits of creating Passive & Residual Income via Affiliate Marketing
There are several benefits of creating passive and residual income through affiliate marketing. Unlike active income, passive and residual income does not require you to be continuously active to generate. Therefore, it is not rocket science, to figure out why these income streams are the most relevant to wealth creation. Some of the key benefits includes:
- Low start-up costs
- Tax benefits of owning and operating a home-based business
- Choosing your partners
- Pathway to success is already established– simply sign up, learn, and grow
- Motivation and excitement
- Time duplication
- Reduced stress in life
6. How to create Passive and Residual Income via Affiliate Marketing
There are several platforms that will enable you create passive and residual income via affiliate marketing. From the discussions above, It is clear that passive and residual income streams, are created through receiving recurring payments. Let’s now look at some platforms that enable you to generate recurring income streams through affiliate marketing.
1. Click Funnels
Click Funnels is an online sales funnel builder that enables businesses to successfully market, sell, and deliver their products online. It lets you design and create sales pages, landing pages etc. You can manage your entire sales funnel using this platform. Traditional online funneling means you need to deal with website hosting, landing pages, email autoresponders, etc. and have them all work in unison. Click funnels delivers all these functions under one platform.
Click Funnels pays 40% monthly recurring commission.
They offer a wide range of services that would be beneficial to growing an online business. They also offer affiliates quality free Bootcamp Training and a motivational dream car challenge. Check out the offers below
2. Clickbank Network
Clickbank University is a brilliant all inclusive training and community support platform. Ideal for someone on a low budget. This platform delivers all the training and resources needed to kick-start a successful online business.
Clickbank marketplace vendors offer up to 75% commission
Aweber is one of the leading Email Service Providers (ESP) in the industry. This tool enables you to automate and schedule your email responses as desired. Every successful marketer understands the benefit of having an automated service.
Aweber pays 30% monthly recurring commission
Stencil is a powerful image creation tool. It is used by social media marketers, bloggers and small businesses, for designing and creating beautiful eye catching images. Stencil is simple to use and built for speed, meaning anyone can create beautiful images quickly, to double their social media engagement.
Stencil pays 30% monthly recurring commission
ConvertKit is another great email marketing platform that enables you to grow and scale your business using email automation. Most marketers prefer Convertkit, because of its simplicity and great features. This awesome ESP is slightly costlier than Aweber. It comes with great features such as Easy Integrations, Concierge Migration, Drag & Drop Builder. Reliable Support etc.
ConvertKit pays 30% monthly recurring commission
Sumo enables you to grow your business through email opt ins and social media integration. It enables you to get more signups and improve your sales. This tool is good for content marketing and email marketing. It has become popular because of the number of website owners adopting it on their sites.
Sumo pays 30% recurring commission
This is paid on a recurrent basis and for the customers lifetime.
The platforms above offer recurring commission, which is ideal for generating passive and residual income. I will endeavour to update this list on a regular basis, to add more helpful platforms.
Thanks for reading, much appreciated. If you ever need a hand or have any questions, please feel free to leave them below. I will be happy to help you.
About the Author
Anthony is a UK certified business strategist and consultant. An entrepreneurship mentor and ezine published writer. He embraced entrepreneurship after experiencing an existential awakening. Anthony helps entrepreneurs, aspiring entrepreneurs and small business owners achieve success. You are invited to check out his services page and connect with him via the following social platforms: