Passive Streams of Income & Social Media (TOTW: 8.5.2012) (3 posts)

  • Many of us our limited by the number of billable hours in a day or how many clients we can see or how much product we can keep in inventory.

    As small business owners we often want to create digital products that we can sell over the Internet and “make money while we sleep.”

    Does anyone in the club have a knowledge-based product they’re selling to create additional streams of revenue? 

    Are you using social media to promote the product/service/software? What other types of promotion, marketing & advertising are you using.

    I think this is an important opportunity for all entrepreneurs, so please share your successes and failures. Thanks!

  •   @rich-brooks this is a great way to generate passive income, especially if you have information products. I have recently started, and now have a plan for more.

    The biggest driver is having a large list and good networks for sharing. Cross promotion with others can help drive sales. So, social networks, email marketing, and leveraging joint ventures or developing cross promotion streams are all great ways to market. Truly making money at this takes reach. I got a lot of clicks in FB ads, but not as many conversions, but admit I used a very small test budget for my first product. And, naturally, the lower the price the more volume you need, but pricing is a strategy to use to get initial clients.

    So, it’s a toe in the water thing, really. Get the product done, and then market it.

    It also sometimes becomes a “bonus” you can give to attract new clients.

  • wow i would love that….and  rack  my  brain on it once in a while…..

    . the  last time i  seriously  considered it (an ebook)….i   gave up    realizing  there was so much  great and  free  info  out there already on  my  subjects…..and  now  with pinterest there is  even more  free stuff for   whoever is  looking….

    people  do   ask  for our  furniture and paint   recipes  a  lot…but its a nice  freebie   we  gladly  share ..so far….

    our  conclusion  was that  we   just  couldnt  justify  the  effort…

    as a  consumer i would  maybe hire help   on  marketing  from  someone  local  who  could  come into the store   , i wouldnt   buy  anything  online…..


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