With the weakening of the economy and ever increasing unemployment rate, many individuals are turning to the Internet when it comes to making the money they need to get by. While earning a steady monthly income is certainly important, passive income streams are becoming increasingly popular among those who are looking for a little more stability in the current unstable economic environment.
There are many passive income opportunities available online that provide individuals with an ongoing source of income with little to no effort necessary after the initial setup. If you are searching for a way to earn passive income online, then the three opportunities below should be of interest to you.
Digital Product Creation
One of the easiest ways to earn residual income online is to develop your own digital products such as eBooks or computer programs, which fill a need and can be sold for years to come. There are step-by-step instructions on how to create your own eBooks and aside from the initial time involved in the creation of the product, there is little to no time requirement thereafter in order to bring in a passive income.
You can choose to market the eBook on your own blog or website or you can submit it to different affiliate marketplaces and allow other marketers to sell the products for a commission. With this opportunity, you will receive passive income from the sale of your products each month without having to do anything further.
Niche Websites and Blogs
Another great passive income opportunity that can fair well even in a weak economy is the development of niche blogs or websites that are set up to earn advertising income. Purchasing a domain is fairly inexpensive and setting up your own website or blog is a fairly simple task when you get the hang of it.
Once you choose a topic that is popular and has low competition, you can populate your site with articles or posts aimed at capturing search engine traffic and place ads in targeted locations. As readers visit your site and click on the ads, you will earn a passive income each month. This option is a little more labor intensive as you must initially set up and market the sites, but eventually the traffic will come in on its own, leaving you free to develop other income earning sites.
If you do not wish to develop your own informational products and are not looking to create many different niche websites, then affiliate marketing is another passive income opportunity that might work for you. Most businesses now have an affiliate section, in which they will pay you a commission in order to drive in traffic or sales. There are also affiliate marketplaces, which have a wide range of informational and digital products that can earn you a commission when you produce a sale.
You do not necessarily have to have a website or blog to be an affiliate marketer, many are successful simply marketing through popular social networking sites such as Twitter and others find success when setting up small Squidoo or Hubpages and dropping affiliate links or banners in targeted locations throughout their content. With affiliate marketing, you are not limited to a specific field or product either; you can go with what is trending at the moment, making this opportunity virtually recession proof.
If you are searching for passive income opportunities that work even in a tough economic environment, then the above options are ideal. These options allow you to start earning passive income quickly and require little ongoing effort, which allows you to branch out and continue earning more on a month to month basis.