How To Turn Your Writing Into Passive Income
Learn to make money from your writing while you sleep
People get the wrong idea about writing.
We hear that people can make a living writing online and that writing is a goldmine but we aren’t told exactly how we can make money writing online.
As Tim Denning said,” I don’t make my money entirely from writing, I have other investments too”
The thing is, it’s harder to make a significant amount of money writing if all you depend on is the money platforms pay for your articles.
That may not be sufficient enough to make the kind of money you need.
To truly make money writing online, you need to know these ways of generating passive income from your writing because, in the end, that is the only way to make consistent money, by having a steady stream of passive income.
Here are 3 ways to generate passive income through your writing
1. Ads
This may seem pretty obvious but most people don’t know how to utilize it effectively, especially writers. The basic idea behind the advertisement is this.
You have an audience and I’ll pay you money to show my product to that audience.
Now what most writers would rather do is affiliate marketing but that isn’t a passive means of income.
By running ads, you take the burden of selling off your shoulders and you’re simply a medium by which organizations show their products to a potential audience. As a writer, there are three major places you can run ads
- On your newsletter
- On your website
- On your Twitter account
One thing to note about ads. Companies are looking for a select kind of audience so if you gather an audience that is interested in different subjects it may be hard for advertisers to partner with you.
For example, let’s say you write about fitness and then productivity and then business. You won’t make, in ad revenue, as much money as someone who writes about just productivity.
2. Newsletter Subscriptions
If you have a newsletter this is one way of generating revenue. You can create your newsletter such that it has a monthly subscription option so your newsletter subscribers can pay a certain amount every month.
This is a great way to generate a decent amount of money especially if you have a large email list. But one thing to note is that people will only likely pay for something they deem valuable.
They'll pay even faster for something that immediately translates into extra money for them.
So in as much as you're offering your newsletter subscriptions, your newsletter has to provide enough value that is worth the price that you're charging else you'll begin losing subscribers.
3. Selling info products
This is a popular means of generating money via your writing. It involves selling a digital product that contains some sort of information that is valuable for a certain amount.
The key word to note is valuable.
Despite the means or the kind of digital product you choose to sell, the content of the product must be valuable enough for people to buy.
If someone buys your product and it doesn’t meet expectations, you may risk losing a repeat customer.
Here are a couple of info products you can begin selling
- A webinar
- An online course
- An e-book
Conclusion
The easiest way to make money writing and perhaps the most comfortable way is to find a means of generating passive income by leveraging the audience you get from the platform
