Building a $3,000/Month Passive Income Stream in 24 Hours
Creating a sustainable business doesn’t have to take long. Imagine earning $3,000 a month in passive income.
This does require some effort upfront. You need to put in time, money, or both to get started. But once it’s set up, it can earn you money without much ongoing work.
My friend Rick sets up a new business like this every week or two. Some of them he hangs on to, and others he sells after they’ve proven themselves to be moneymakers.
Here’s His System
Instead of spending months blogging or waiting for organic traffic, Rick uses paid methods to start earning right away. His strategy involves affiliate marketing combined with Google Ads.
People use Google to search for products they want to buy, right? By targeting these searches with ads, Rick reaches these potential buyers directly. Unlike social media ads, Google Ads target people with the intent to purchase, making them more effective as well as giving faster results.
Why Affiliate Marketing?
Affiliate marketing means promoting other companies’ products. You earn a commission for each sale made through your referral link. This way, you don’t have to create your own product, just promote something that already sells well.
Rick likes affiliate marketing because he doesn’t want to bother with product creation, customer service and everything that goes with it. Frankly, he’d rather spend the bulk of his time partying than creating products, but don’t tell him I told you that.
Here’s Rick Recommends You Start
- Choose Your Niche and Product
- Pick a niche you’re interested in. Rick focuses on 3 subniches of one major niche. He knows these niches inside and out and has learned through trial and effort what works best in these niches.
- Find a product in that niche that has a good affiliate program. Rick looks for high conversions, good commissions and low refund rates.
- Create a Landing Page
- Google Ads requires a landing page, not a direct link to the affiliate product.
- Rick uses a WordPress blog and the Elementor plugin to create a simple article-style landing page.
- Write an article like “3 Best Email Marketing Softwares” that reviews and recommends products.
- Set Up Google Ads
- Create a Google Ads account and set up a search campaign.
- Use exact match keywords to target specific searches, like [best email marketing software].
- Use the Google Keyword Planner to find relevant keywords and see how much they cost per click.
- Run Your Ad Campaign
- Start with a budget of $5 a day.
- Monitor the performance of your ads and adjust as needed.
Building Your Landing Page
Your landing page should provide valuable information. For example, if you’re promoting email marketing software, write a review comparing the top three options. Explain why each one is good and include your affiliate links.
Creating Your Google Ad
Make sure your ad is clear and targets the exact keywords people are searching for. For example, if you’re promoting email marketing software, use keywords like [best email marketing software]. This ensures your ad shows up when someone searches for that specific term.
Monitoring and Adjusting
Once your ad is running, keep an eye on how it’s performing. Use the data to make adjustments. If one keyword isn’t performing well, try another. The goal is to find the combination that brings in the most sales.
Conclusion
By following these steps, you can start earning passive income quickly. With Google Ads and affiliate marketing, you can reach people ready to buy and earn commissions from their purchases. This strategy is simple, effective, and can be scaled up as you learn and grow.
Recap:
- Choose a niche and product.
- Create a landing page with valuable content.
- Set up and run Google Ads targeting specific keywords.
- Monitor and adjust your campaign for the best results.
With this approach, you can build a sustainable income stream and start earning money within 24 hours.
One last thing… Rick doesn’t build email lists. I think he’s crazy not to because he’s leaving good money on the table. He could build those lists and continue to send them offers over time to increase his income. I’ve taken him to task about this, and he admits he should be doing it but he says he’s just been too lazy.
Do yourself a favor and capture the email addresses. If you do a good job of nurturing your email lists, you can double or triple your income by sending them relevant offers. Not to mention if you decide to sell one of these little money-making machines, you can get more money for it if it comes with an active email list.
