Are You Looking for Ways to Develop a Passive Income Stream?

By John D. Stewart  

How to develop passive income streams:

Are you interested in developing a passive income stream to supplement your lifestyle? There are many opportunities to earn a lucrative passive income stream, this is a list of seven that you can use to boost your income. These are available for any aspiring entrepreneur. Included with each income opportunity is a brief overview, giving you a better understanding of what will work for you in your situation. You can utilize one, two or more of these income generating opportunities. So let's get started.

1. Blogging

Blogging has taken the online world by storm and anyone has the opportunity to be a publisher on this platform. It's possible to publish a blog on any content that you can think of. Here are some figures from WordPress.com:

· 77 million WordPress sites worldwide

· 13.1 billion blog pages

· 409 million monthly readers

· 38.7 million new post each month

· 50 million comments monthly

With numbers like this you can see how a blog site can launch you to phenomenal success. Giving you the opportunity to launch all your passive income streams from one hub. A blog gives you the opportunity to brand yourself and develop an online presence, it's your gateway for driving targeted traffic to your online passive income opportunities.

2. Internet publisher

In 2015 approximately $135 billion were invested by business owners and marketing teams to create new digital marketing platforms to promote their brands, products or services. One media source reported that 25% of all the advertising market was using this platform. 73% of businesses polled planned on increasing their advertising budget for Google AdWords.

Different advertising platforms are:

· Google ad words 73%

· Bing ads 55%

· display networks 52%

· Facebook 52%

· LinkedIn 26%

· Twitter 24%

· smaller social networks 18%

By becoming a publisher on these platforms you can earn a lucrative passive income. By getting targeted prospects to click and take action on the ads posted on websites, blogs, review sites, landing pages, splash pages and other online channels you can generate a sizable passive income stream. The more traffic you target will generate a higher potential for getting better click-through with your ads. Helping you to sell any kind of product or service generating passive income for you. With this type of advertising it's imperative that you develop targeted advertising skills for keywords in the niche that you're trying to work with.

3. Affiliate marketing

Last year $14.94 billion were registered in the affiliate marketing industry, showing that this is a very lucrative source for passive income. By using affiliate networks like ClickBank, Click promise, Commission junction or other affiliate marketing sources you will be able to earn commissions anywhere from 5% to as much as 90% selling other people's products. Also you have the ability to generate even more revenue by creating and marketing your own products through these affiliate networks. The most important factor to success is driving highly targeted audience to your affiliate landing pages or sales pages that you have registered with. And this should always be done with your own targeted funnel system beginning with landing pages you've designed to collect data before sending prospects to the affiliate landing page. Or you can use other digital marketing tools to drive traffic to your affiliate link utilizing blogging or social media like Facebook or Twitter.

4. Amazon

These days Amazon e-books have outpaced traditional publishing company and account for up to 20% of the total Internet traffic. As an Amazon associate you can leverage on this traffic and earn passive income. If you have a website or a blog that talks about a certain product or category niche you can earn from the volume based fixed advertising rates Amazon Associates offer for products sold through a certain category. Working with Amazon is a fairly simple process and they will help you set up your business through their system.

5. Freelancing

Another way to earn a lucrative income online is by providing freelancing services today there is an estimated 20% to 33% volume of independent workers out of the total size of the workforce in the United States. And organizations are planning to increase their dependence on freelancers, last year alone there was almost a 50% increase in freelancers hired. And the pay is getting better for freelancers as well, increasing by 37% year on year. There is a wide variety of skills and expertise needed for freelancers. Some of the highest rated skills that are being outsourced by employers to freelancers today are:

· IT and programming

· design and multimedia

· writing in translation

· and smaller niche markets

So if you're interested in freelancing this could be a lucrative passive income stream for you.

6. Online content writer

These days as the search engine algorithms move towards more focused, high quality and well written original content, the demand for online writers has been increasing making it a very lucrative source of online income. The average hourly rate for an online writer is approximately $27 an hour which is much better than the federal minimum wage.

50% of the B2B marketers plan on increasing in the next 12 months, their content marketing budgets and as much as 40% of these companies outsource their B2B content generation activities to freelance online writers. This gives you an excellent opportunity to develop a passive online income stream to supplement your finances.

7. Network marketing

Network marketing or MLM is basically a form of direct selling and is also known as person to person marketing. In network marketing you earn by directly selling products to other customers. You can also earn a passive income stream by building your own network of independent distributors otherwise known as your "network" giving you the ability to earn from different levels of residual income from their sales and memberships.

In the last few years network marketing has grown substantially and has become the source of income for many successful network marketers, as many as 150,000 people signed up in these networking systems on a daily basis. There is over 50 million people worldwide who have joined network marketing companies, reaching a worldwide sales as high as $90 billion. These days many people utilize the Internet, to develop their network by developing blogs and landing pages to sign up new recruits and to harvest email information to market to later. This can be developed into a very profitable income stream possibly giving you the opportunity to finance your total lifestyle instead of supplementing a traditional job.

Article Source:   EzineArticles  expert:John_D._Stewart