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Why Every Marketer Needs to Make Passive Income

Disclaimer: The majority of links are affiliated links to sites, with the exception of the cook book.

Marketers Need to Make Passive Income

Money

The world of marketing can be harsh and cruel. When the economy is good, large corporations and businesses spend a lot of dollars on marketing, but when business is bad, marketing is one of the first departments to get cut down to size.

Depending on the contract that you have with your marketing agency, I would highly encourage every marketer to start creating their own products.

I’ve always encouraged many business and non business students to start looking at ways to generate passive income so that they always have more than one source of income in case a job dumps them suddenly.

Even a little bit of income, let’s say, the ability to make an extra $50 per month, which equates to $600 a year can pay for a great weekend in Vegas for the rest of your life. Not a bad way to look at it is it? For myself, I’m happy that the income I’m making is paying for the insurance on my car every year, but I have more future plans on creating passive income products.

As marketers, you owe it to yourself to ensure that you can create the best work possible for your clients. But you need to take care of your financial needs so that it doesn’t weigh on your mind all of the time.

Your ability not to worry about finance will free up creative energy. There is no better test for a marketer, than to see how brilliant he or she can market their own product. You have your own personal stake in it. And since you probably won’t have a large marketing budget, you’ll have to get creative in promoting your passive income product.

For marketers there are several ways to increase their passive income from their hobby or marketing expertise.

Write a Book

A warm hearted and wonderful friend of mine, Dee who is the food blogger at Gastrofork, self published a Filipino cook book that she sells on her website for $10 (much cheaper than other cookbooks out there). Cooking and eating out is a wonderful hobby of hers, but her main career focus is on marketing. There’s no reason why she shouldn’t be able to combine both skills and to earn some income along the way.

With the world moving away from printed books, it will be inevitable that they will suffer the same fate as magazines.

The use of tablets is on the rise every day and more and more people are reading e-books. It has never been easier to self publish a book and have it widely distributed across the web. For my own book,Art of Conversation, I have it distributed by Book Baby, which can help with an ISBN number as well as convert formats to E-pub for $149. This way you don’t have to resubmit your book to every e-book distributor/publisher.

If you’re not too sure you want to make that investment just yet, you can always put it on Amazon Kindle first as a testing ground. If you find your book does well there, then I would suggest giving it a much wider distribution.

Since you have the rights to your book, you can also start your own affiliate marketing program. Websites such as E-junkie can help you.

Selling Trusted Resources through Affiliated Marketing

There are two types of marketing blogs. There are personal marketing blogs, and there are professional marketing blogs.

Professional marketing blogs should focus on creating value for their customers and only sell products directly made by the marketing company. To sell other people’s marketing materials is acceptable as long as it fits in with your marketing’s brand. However, running your own personal marketing blog gives you much more freedom on what can be advertised.

I would imagine that there are a ton marketing or advertising books that you really enjoyed and loved in the past. You probably wouldn’t even hesitate to recommend such resources. Here’s the thing, why not make money off your recommendation? Imagine how cool it would be if you received money back for every time you successfully referred a friend to your favourite restaurant.

made to stick by Chip and Dan Heath

Affiliate marketing allows you to do this, and you as the marketer must be careful what you recommend. Your reputation is on the line.
I’m an affiliate with Amazon, one of my favourite books of all time, Made to Stick: Why Some Ideas Survive and Others Die

Other options for affiliate marketing is to go through places like E-junkie or Clickbank. One of my favourite bloggers that helped me my monetize my first blog was ProBlogger, Darren Rowse. His book is called 31 Days to Build a Better Blog. You can permanently place an ad on your website (just like the one you see on the page), or offer an honest product review in one of your blog posts regarding the e-book. Remember to disclose that they are affiliated links.

Problogger



Sell Your Podcasts or Audio Content

Do you remember the days when Tony Robbins appeared on late infomercials and sold his Personal Power programs? You may not have the production power that he and his marketing team have, but that doesn’t mean you can’t create a series of audio and video recordings that someone is willing to buy.

One of the most searched terms online is “How to get a job in marketing?” If you’ve worked at several different agencies, then you’ll probably be ale to offer some great advice for those that want to break into the industry, and there are students that are willing to pay the $10 to hear your advice (after all they’ve paid tens of thousands already, what’s $10?) If you do the math, let’s say in your life time you’re able to reach about 500 sales, that’s $5,000 of extra income.

CBC’s Terry O’ Reiley’s radio show, Under the influence, does a great job of luring people in with amazing stories about marketing. The podcast is free for two weeks on iTunes. After that, if you want to purchase older episodes on iTunes, then you have to pay $1.99 for each episode. The great thing is that as long as iTunes is in existence, then those podcasts will continue to generate revenue.

By creating audio recordings that have amazing content, you can sell them online through a service like E-junkie or iTunes. Or you can always create a partial podcast and give it away for free, and then sell the full version of the episode through online channels. Always leave them wanting more.

It’s Not a Piece of Cake

Making passive income takes a lot of work initially. But the great thing is that once it’s done, it’s a matter of distribution and marketing your products to other people in your spare time. With the way marketing companies come and go, it can be hard to say where your next paycheck is coming from, but if you think just a little selfishly and think about yourself, you’ll find that you’ll be a happier marketer.

One of the happiest moments of my life was receiving my first check from Amazon for my e-book. And trust me, if you create content that will solve a pain and make people buy, you’ll see why it’s so thrilling to make passive income when your first check arrives in the mail.

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Vincent Ng is the founder of MCNG Marketing, and the author of Pinterest to Profits with Pintalysis and the host of the Pinterest podcast, Pictures to Profits. You can grab your free e-book on How to Search Optimize Your Pins for Pinterest and Search Engines."