The idea of making lots of sales to build your passive income is enticing, but there is a better way to do it. You may find it hard to believe but capturing leads is a better long-term strategy for passive income.
What is a lead? Well in the online marketing world this will be a visitor’s email address. When people come to your website or watch your videos, they will have an interest in your niche. You want to capture their email address so that you can communicate with them regularly.
A Single Sale and then gone Forever
Unless your website or video is memorable, the chances of people coming back to it are slim. This is not a direct reflection on your site. The problem is that there is so much choice these days that people forget.
In a single Internet session, people can go to dozens of websites. OK, they might bookmark yours if it is particularly interesting to them, but it doesn’t mean that they will come back anytime soon (if at all). How many bookmarks do you have in your web browser that you have never used again?
A person comes to your website and buys your product. That’s great but don’t just leave it at that. Ask them for their email address so that you can contact them in the future when you have something of value to share with them.
It is straightforward to create a form on your website to capture someone’s email address in exchange for something of value. This can be a gift or access to a part of your site that is private.
You can then use an autoresponder service to send regular emails to your subscribers. Tell them when you have published a new post and provide a link to it in the email. Tell them when you have a new product that you want them to check out, and provide a link to the sales page.
It is a lot Easier selling to Leads than Cold Visitors
Even if you had the greatest product in the world, it would be difficult to sell it to cold online visitors. By cold, we mean that the visitor has never heard of you or your website before. They discovered your site via the search engine results or through some form of advertising.
With this kind of traffic, if you get a 1% conversion, you will be doing reasonably well. This means that for every hundred cold visitors you will make one sale. Is there a way that you can increase this conversion percentage?
Sure there is – get to know your visitors and build up trust and likability with them. When they subscribe to your email list, give them a lot of value with every email that you send. Give them lots of free stuff as well as making offers to them.
After a while, you can point them towards your products. If they have been reading your emails and downloading your gifts, then they will be a lot warmer to what you are offering them. Give them a special discount, and they will be even hotter!
Think Long Term
The best passive income businesses are the long-term ones. Can you imagine having an email list of thousands of subscribers who love what you send to them? If you create a new product or discover someone else’s product that is really good, you can send an email to your whole list, and a percentage will buy from you.
Are the conversion rates better than cold traffic? You had better believe that they are! And of course, you still have that subscriber to promote to again in the future. So concentrate on leads rather than just sales in your passive income business.
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