Leveraging the most popular social media platform out there – Instagram. Instagram marketing, in and of itself is kind of a broad topic, because this could mean marketing yourself on Instagram, marketing somebody else’s page, marketing a business on Instagram and there are so many different ways to make money and to make passive income on Instagram. So let me just run you through a couple of different ideas here:
Number one. Let’s say, for example, you build up a personal brand page on Instagram, build yourself up as an influencer and then start selling your own digital product or selling your own coaching or even just doing affiliate marketing on Instagram. That’s just one of the ways you could do that.
Second of all, let’s say you find an influencer out there like, who has a lot of stuff going on (and promotes dropshipping product research tool) and maybe they don’t have time to manage their own Instagram page. Well, you can manage Instagram pages on behalf of someone else and they will pay you week after week month after month on a recurring basis.
Thirdly, let’s say you have businesses in your area (shopify product research). I’m pretty sure we all have businesses near where we live in a lot of them are terrible at social media and these days if you’re not on social media, you are just not as relevant. What you could do is help businesses establishing a presence on social media. Now, I know what you’re saying: “wait a second – product research shopify, that sounds like a lot of work, how in the hell is that going to be passive?”
The way to make this passive is for you to take these day-to-day tasks of managing somebody’s page or even managing your own page or pages for a business and find a VA (virtual assistant) and train him on how to do the ins and outs of this operation. And so essentially, what you’re going to be doing might look something like this:
Here’s you right here in the middle and you’re working with a client that is paying you a thousand dollars per month to manage their Instagram page for their business or whatever it may be. Well, you’re going to take all of that responsibility and you’re going to hire a well-trained VA from overseas. And let’s say you pay them $250 per month. They’re doing all the legwork for you. You’re just going out there and getting clients. And essentially, they pay you $1000, you pay your VA $250 and you’re collecting $750 per month in the process. That is how an Instagram marketing agency can become 100% passive and so at the end of the day, no, this isn’t going to be passive income from day one. You’re going to have to actually build up this business, get a couple of clients (with the help of aliexpress best sellers), figure out how to grow and manage Instagram Pages yourself and then train a virtual assistant. But once you have done all of those things, it can be a very passive business.
Earning interest income from your bank
Most people go to a traditional bank and they keep their money in a traditional savings account and they earn like 0.6% interest per year – very little money, indeed. But a lot of smart people put their money in an online savings account which has significantly higher interest rates and then that income may become more substantial. A great option is Betterment Everyday Savings that offers an APY of 2.39%. The minimum opening balance for an account is just $10. There are no fees for this and up to a million dollars in FDIC insurance, you do not have to be a betterment investor to make use of this and you do not pay any fees to betterment for having this online savings account that currently pays a two-point three nine percent APY.