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УДК: 336.26
Aseeva О. А.
Saratov Socio-Economic Institute of Plekhanov Russian University of Economics MAKING PASSIVE INCOME
Abstract
The article deals with the methods of making passive income. The author studies the stages of launching businesses, marketing methods and their significance. Special attention is paid to the creation of online-projects.
Key words: passive income, marketing, online marketing, online business.
Passive income is what we all want. We want income that we make once and it pays us over and over again. It's a great way to make money. Why do not you just sit on the beach and have money flow into your bank account? The problem is when it comes to making passive income you must have a totally different mindset. You must have a mindset that will get you through the rough patches, and there will be some along the way. Earning a passive income isn't as easy as you think, but it can be done with the right attitude. It's normal to work for a living. That is trading time for money. When you start making passive income you are trading effort for money. Sometimes it takes a lot of effort and work to begin a business that allows you to make a great passive income.
So, if you are ready to start, there are different ways to make passive income. One of them is setting your own online business. Below you will find some steps which help you to make your idea come true and work.
The first thing to do is to create an information product. This is basically a product that teaches people how to do something. It could be an e-book or a brochure that teaches people how to build a storage place. You need a product to sell [1].
The second thing is to create a custom capture page. There must be a newsletter that sells your information product. This is the lifeblood of any business. You will be able to follow-up with your potential customers and close more sales.
The third step is to send targeted traffic or visitors to your capture page. This is the fastest way to build your mailing list. It's also the fastest way to get sales in your business because people will learn more from you over a period of time.
There are a lot of traffic sources to build your mailing list. However, not all of them are equally effective. I have chosen the best 3 methods. They are article marketing, social media marketing and solo advertising.
Article marketing is a type of advertising in which businesses write short articles about themselves, their company or their field of expertise as a marketing strategy. They may be published in newspapers, magazines, and other kinds of periodicals as well as posted on the
article directories, which are websites with collections of articles written about different subjects. The primary goal behind article marketing is to get search engine traffic to the article so that the author can strengthen their authority and influence within their field, at the same time, raising the traffic for his own site. The key to article marketing is that the writers should provide value with their articles, not just promote their site, products or services [5].
Social Media Marketing is the process of gain-ing_website traffic_or attention through_social me-dia_sites. In order to integrate social networks within their marketing strategies, companies have to develop a marketing model. The model includes the following steps: selection of potential social networks to use, definition of a financial plan, definition of organizational structures to manage the social network in the market, selection of target, promotion of products and services, performance measures. It sounds like SMM is a very complicated form of advertising but in reality it is one of the easiest to do [8].
Social networking is used by 76% of businesses today. Business retailers have seen 133% increases in their revenues from social media marketing posting their advertisements on Facebook, Instagram, LinkedLN, YouTube and Vkontakte( talking about Russian companies) [9].
Solo advertising is a type of advertising in which businesses send out to subscribers brochures about their products, but without any other content. In other words, it's an advertisement which contains information about the only good. The important thing of this variant of attracting customers is that you have to be sure that you offer the product which the subscriber really needs. In the other way the customer will unsubscribe as he decides that the solo advertisement is spam [7].
These methods work very well. However, in the begging it is better to choose one, which most fits you, and put your efforts into it. You should master it, until you see results that you are glad about. Later you will start doing this automatically and will find out that it does not take so much time and energy to make it work.
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When you get to this point, move on to another advertising method and improve your skills in it [4].
The last thing to do is to analyze your results. You have to observe how your business is developing and how your advertising works. If you see that something does not work, analyze it more carefully, reveal which part does not give wanted results and change it. To make it easier use different e-mail accounts for each advertising method, so tracking where sales came from will be effortless [2].
When people start their online businesses, they face some problems. The most urgent of them is spending too much money on advertising. Beginners should be focusing on their sales funnel. You won't be able to grow your business without analyzing your results [6].
Another way to make passive income is become a network marketer. In this case, you put all the efforts into developing your skills of recruiting, duplicating, leading and working for yourself. The first important aspect is to choose a company and an upline thoroughly, because your success in the begging depends on a person who teaches and assists you. When you join a team, you get a downline to develop. Your passive income depends on the number of people you get into your line. If you have fifty people in your downline working hard and being trained by you to get better, then you benefit from the effort of fifty-one people -you and your downline, and so the more people you recruit and train to duplicate your efforts, the more passive income you get as they build their own downlines as well. This business model is one more variant to become wealthy. In addition, it suits more for people who are not ready to start their own online business, because, in comparison with the first model, you have somebody who will teach, support and help you, because your upline is interested in your success [3].
In conclusion, I would like to say that passive income is a dream of almost every person. Unfortunately, only 30% of us make this dream come true. Other 70% leave it because they think they do not have resources (financial, intellectual, etc.). However, we were all taught at school that if you have a complicated task, break it into small pieces, and you would manage to do. So, you should not be afraid of creating passive income,
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because if you look at it as if it is a complicated task, then divide it into simple steps, and after that follow them and you will get positive results immediately. You can apply this advice to the idea of starting business too. Steps that were listed above are easy to follow and they will lead you to the result you want to achieve. But it must be said that to desire to run your company is not enough to do it, you should work on your skills and put effort in it constantly to get the result you dream about.
References
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