Wouldn’t it be great to turn blogging into an endless passive income stream? Of course it would! Who would say no to that?
Previously I have shown you some of the ways I make money online but If you do not know about this method then it is going to blow your mind! (Well maybe not so dramatic)
Creating a blog or website is really hard work, especially if you are building a big business or authority website. Every blogger I know will tell you that blogging is not easy money, but does become easier if you automate the system. Also the bigger the website gets the more income you get.
The thing is, this is all great, but what about when you sell the WordPress website? Can you still make money from this site even when you have sold it?
Yes of course you can but of it depends on how you make money in your blogging career in the first place.
How to create a blog with the future in mind
- Watch out for products that can become standalone with their earnings.
- Spend more time on testing and tweaking when it comes to products that have future earnings.
Products and advertising that does not create income for the future
Here are the 4 biggest examples of monetization methods that you might have on your website that do not create income of the future.
- EBay Partner network
- Hostgator (but I can give you a 25% discount with coupon code MITZSave25)
Of course there are many more examples that I can add to the list, however you get the picture, hopefully. These programs pay you for either each click or sale that you make stop there is no possible chance that any of this income will be recurring. I have also published articles about recurring income from Clickbank but they do not stack up compared to the options I will mention below.
Creating income that will last
You are probably wondering how it can be possible to make sales on your blog, sell your entire blog to someone else, and then continue to receive commissions from sales. This is quite simple. All you have to do is sell products that have a recurring income.
For example, if I sell a product and it has a monthly or yearly subscription fee, the program sometimes gives me commission for each fee that is paid. So if I sell a membership to the Chris Farrell website, which is approximately $29 a month, I will continually receive $15 a month for as long as the person stays in the membership. This is great but not a permanent thing as people only stay so long in a membership site.
There are even better ways to make a commission. What about this one…?
Two or more Tier Commissions
You are going to sell a product on your website anyway, so why not get a two Tier commission out of it?
What is a two Tier commission?
Just say you are an affiliate for a product and you get 30% commission for each sale. That might be the end for some products, but when the product has two tiers the commissions can go further. For example you might have the opportunity to refer other affiliates to the program. When the affiliate that you referred makes a sale you get 5% commission. This can be seriously amazing if you refer the right person who ends up selling the products like crazy.
Examples of Two Tier commission products
This is a professional company where you can buy a fantastic logo for your website to $27. If you visit the logo nerds website you will also see that they have an amazing affiliate program that is just seriously generous.
Refer just 5 logo sales a day, and you will pocket an easy $1000 month
Refer just 10 logo sales a day, and you will pocket an easy $2000 month
Refer just 15 logo sales a day, and you will pocket an easy $3000 month
One thing about this affiliate program is that the cookies are tracked for life and if a person keeps buying logos from this company then you will keep getting a 25% commission.
The other thing about this affiliate program is that you can refer another Webmaster to sell this product and receive 5% commission on all of their sales.
This is more for the tech sites but I have to mention this product as it is one of those affiliate programs that just sell itself. This company is great at converting the customers for you but it also offers a two Tier commission if you sign up through Shareasale.com. So if you have a tech site go to Spotmau and check out the options for becoming an affiliate. If you want to get the 5% two tier commission you need to sign in and through Shareasale.
Studio Press WordPress themes from Copyblogger Media also offer a two tier commission. To get this you will have to signup at Shareasale but you can see more details here.
If you refer others through the links provided with the ShareASale affiliate program, you can earn $1 per signup as an Affiliate and 5% of their future earnings.
Examples of recurring commissions
If you hang out on this blog you will know that I often recommend buying the elegant themes package. Not only do you get 60 or more professional, fantastic looking WordPress themes, but you also get amazing support which money can’t buy.
Elegant themes no longer offer a two tier commission system, however they do offer a recurring payments system. This means that you will receive the commission again if the person you referred renews their membership.
So let’s have a look at my sales for last month:
As you can see I sold 15 elegant themes packages, so therefore in August 2012, if any of those 15 people renew their membership, I will receive the commission once again.
Elegant themes membership means that new themes get added in every month and the yearly membership is only $39. If you are building WordPress websites it pays to be a member of this site.
Have you ever wondered why people are always recommending Aweber for e-mail management?
Well there is a good reason for that. It is not only a great company; it also offers affiliate is a 30% recurring commission on all sales. So if you refer a person to Aweber then you will receive 30% commission on what they spend. Just remember that this e-mail management membership has a monthly fee.
We have all heard the saying “ the money is in the list”, well it is and every website needs an email management system if they want to survive in this business. So does Aweber sell? Yes of course it does!
Create viral giveaways to make money
When you have a blog or website you should give away as many free reports as humanly possible! I know this sounds silly but think about it? A viral marketing campaign is far more valuable for sales than it is traffic. I do not need people to visit by my blog for me to make money.
You give away reports with your affiliate links in them…This time is really doesn’t matter if they are recurring products or not. The only thing that matters is that your free report is floating around the internet available for anyone to download at any time.. In this case it is just a bonus if you have recurring affiliate links in the report.
Therefore when you sell your website, these reports will still be out on the Internet with your links contained in them. You will be surprised at the sales that can come in from a simple report.
I know I have listed some fantastic affiliate programs here, and believe me it is not that easy to find programs that actually sell themselves. If you do decide to become an affiliate for any of these products I would really appreciate it if you used my link. IT will not cost you anything but will contribute to my future retirement package! 🙂
Just remember that not all recurring 2 tier commission affiliate programs are worth promoting and they might not suit your niche.
Anyway guys, the real moral of the story is to plan your business and make sure you can still be making money from a WordPress website even after it is SOLD!