I am hearing more and more about digital entrepreneurs, affiliate marketeers and successful individuals and couples living the “laptop lifestyle”. Some use the tagline “the new rich” whilst others just create their own title like freedompreneur, travelblogger or lifestyle affiliate.
Whatever you choose to call them, they have taken advantage of the new ways to create an income that does not need a set physical address. The beauty of this being that it allows you to earn an income whilst travelling or even on the side of your normal everyday job. Sounds too good to be true, is it?
For many, the answer to this is yes. With the amount of hype around this new found phenomena, and big results being shown off across the net, many people are taking the leap towards financial freedom. Many engage in online courses or webinars that promise this new lifestyle. Unfortunately, an increasing amount of these “courses” that promise the new rich lifestyle of travelling and enjoying life are simply big pyramid schemes. The person who signs up more people, whose signups then sign up more people, is the winner as he or she gets commissions or royalties from all signup sales. I have seen courses range from a one off $49 to an ongoing $499 per month. Big money to outlay when a lot of the time the opportunity is not creating an income stream.
So how do you make money online?
There are many ways to create an online lifestyle, and no, they are not all network marketing or pyramid schemes.
Let’s start with the one off profits, the methods that bring an income from sale of a product.
When you sign up as an affiliate for a product or service, you are becoming a salesperson or representative basically. You have a unique code/web address to the product or shop site that you can share through ads, blog posts or email. When people like your sales pitch, click on your link and end up purchasing the product, you will get a certain percentage of the sale or a commission. For bloggers who already are writing about products and services, this is a great way to add moneytisation to your blog, just by customising the links you have to the products.
Of course, this can become an ongoing stream of revenue when we look at subscription models. Many affiliate programs include an ongoing commission of sale as their product or service is paid for monthly. Shopify is an example of this. Check out the link I have put on the word Shopify. You will see the reference at the end of the URL. This is reference to my Shopify account. When people click on this to visit the Shopify site, and then sign up, I receive a commission of the sale. This is great for me as I was already a Shopify partner creating shops for clients, but now, this link also allows me to get commissions on sales to people who wanted to do the shop themselves. Along with my partner payments, I can now get this little bonus too without doing too much extra.
Selling products without actually having the product is either fraud, or dropshipping. Dropshipping is totally legitimate and legal and has been going on even before it was given the title dropshipping. Many of the listings you now see on eBay are from dropship suppliers. What this means is that the seller does not have stock of the product. Not even on order. No warehouse. Nothing.
When you buy the product from them, they send the order through to the manufacturer or distributor who then packs and ships the product directly to you. It’s a win-win situation. The seller gets the profit margin between the cost of the product and the price they sell it for. The distributor or manufacturer is selling their product without having to market their product. This is why we are seeing so many more cheaper imported products on sites like eBay. The profit margin can be greatly increased, unfortunately, as many sellers don’t ever meet the manufacturer or even test the product themselves, quality control can be lost.
What about passive income streams?
Making a little money from a few one off sales is great, and if we keep doing this, we might make a pretty decent addition to our income. Now, what if we could get the sale of a bigger, more niche product that has a subscription model? The advantage of this would be that once setup right, and your sales pitch and technique is getting customers in, they can signup to the program/service subscription. You will then start getting a monthly commission from this. Why is this better? Lets break it down.
You spend money setting up your website to create your sales funnel. This is where we need to perfect our sales story and build a need for the product. This sales funnel leads to a signup for the product. This might cost lets say $500. Now we need traffic to the site. We might look at using social media to get the word out there. What gets more clicks? Free stuff! This is where we can offer something like a FREE ebook or webinar by signing up now. This might bring traffic to your site and hopefully get you that end sale.
We could also invest in online advertising to create traffic to our sales funnel. If we say that of all the people that visit the site, 2% convert, they sign up to the product and alls good. We can take two things from this. What about the other 98% and How can I increase that 2%.
Firstly, the other 98% are obviously interested in the product, but didn’t go all the way through the sign up/sales process. This is where retargeted advertising can help. You know the ones! They store a cookie on your computer so they know you visited that site, and next minute, you are seeing personalised ads about the product… everywhere! They seem to follow you around the web. Thank you Google, AdRoll and Facebook! This might help get 40% extra back who just needed that little push to signup.
Secondly, how do we increase that 2%. The short answer… you don’t have to. Even if that convert percentage was higher, it all depends on the traffic coming into your sales funnel. If 1000 people visit, the 2% signup would be 20 people. Now if we get more traffic, lets say 10,000 people, then your 2% is now 200 signups!
The best thing about all of this? Once you have the perfect sales page, landing page, squeeze page or whatever you like to call it, you just need to focus on building the traffic up. Now back to these travelling entrepreneurs. The advantage of setting up a system like this is that you can manage it from your laptop anywhere there is internet. Now doesn’t this change the playing field!?! You can do what you love, whether it be travelling or moving to somewhere you always wanted, and not worry about anything apart from internet access. Noice!
Picking the perfect product to sell.
This is the tricky part. There are sooooo many products and programs to choose from. Sites like ShareASale and Clickbank have a plethora to choose from. My recommendation would be to stick to what you know. Check out your favourite products and see if they offer an affiliate program, this way you know what you are selling, and you can get paid for talking it up.
Many online entrepreneurs are getting into reselling the actual lifestyle they are living. Digital nomads and marketers are creating programs that show off their lifestyle of travel and freedom and promise to show you how they did it. They usually require you to sign up before you can watch their videos and learn their secrets. You then get access to selling what they just sold you. If you are at the top of this sales pyramid, you could actually be doing nothing and still bringing in an income. Like all network marketing, the more people you sign up under your level, the more income you get as a commission of sale. Now can you see why this has become so popular?
How to get started.
So you have decided you should find out more about all this stuff, where to start?
Research! And plenty of it. If you are planning on selling products or affiliate marketing, research your audience, what they are buying and at what price. Can you compete?
There are lots of online tools to help you with research, be sure to check out Terapeak for market research, as well as Google’s keyword research tool to check your competition. Note you will need a Google AdWords account to use the free Google Research tool.
After that it’s all about getting traffic and sharing your story. I can definitely help you get started here as branding and websites is our thing! We can also look after setup of social media pages and email marketing. Too easy!
If you wanted to chat more about getting started and options for a laptop lifestyle, be sure to book a FREE consultation using the contact form on this website. I will be more than happy to talk to you about how to create your first affiliate website, building traffic and creating sales leads. My business has helped many startups and entrepreneurs build up their web presence, will you be next?