How to Turn Your PLR Business Into a Passive Income Stream
Dividend stocks, rental income from properties, and REITs are excellent examples of passive income. Selling PLR, however, is NOT a good example of passive income. Do not let anyone tell you otherwise. You could compare a PLR business to the major film studios such as Warner Bros, Paramount Pictures, etc. Of course, PLR is on a smaller scale but the principles are similar. How to Turn Your PLR Business Into a Passive Income Stream.
For starters, it’s an unspoken rule in Hollywood that you’re only as good as your last movie. What this means is that movie studios need to keep churning out movies to stay relevant and they’re only as successful as their last movie. This is why you often hear of movies that are blockbusters or flops. You’d think that with millions of dollars being made with profits and royalties, these film studios could rest on their laurels. But it doesn’t work that way.
They have to keep producing more movies to stay relevant and profitable. In the same vein, as a PLR seller, you’re only as good as your last PLR launch. To keep making money, you’ll need to keep churning out more products. While you can make extra income with a blog, email list, etc. the biggest chunk of your earnings will come from creating and selling new PLR. You’re just like a movie studio – but your ‘movies’ are PLR packs.
Now that we’ve established where you stand… let’s look at how we can make your PLR business get passive sales… ahem… with active work.
* Build a PLR store
This is the most important fundamental you need to get right if you want to get passive sales. A PLR store not only gives you some degree of authority, but it also gives your potential/existing customers a point of reference. It’s like your name card in the business.
For example, if you do a PLR launch and you also have a PLR store on your domain (e.g. PLRstudio.com), what will happen is that buyers who purchased your launch product will be curious to see what other content you have. They’ll then visit your PLR store and may get several other products that you have listed for sale. This is passive income. You should also sprinkle links in your emails, reports, blog posts, etc. pointing to your PLR store. You do not know who is consuming the information you’re putting out, but you can bet that people will be clicking on those links and finding your store.
* Giveaway free reports
Create free reports which are filled with value that people need. Explain how they can profit with their PLR content, etc. The more value in your reports, the more your customers will love them. As mentioned earlier, have links in your reports to your PLR store or other PLR products you’re selling/promoting.
* Review posts on your blog
Value, value, value. That’s your mantra. Do reviews of other vendors’ PLR bundles and highlight the pros and cons. You may make affiliate sales from these posts. Provide value on your blog and also scatter links to your PLR store and affiliate products. The more links you have leading people to products they can buy, the more passive sales you’ll make.
* Start a Facebook group
People love communities. Creating a Facebook group dedicated to PLR will allow you to have a community with a common passion. You can make posts promoting your own PLR or affiliate products. Do note that social media can quickly become an addiction and suck up your time. There may also be people who constantly have questions and no amount of answers will ever be enough for them. So, watch your time closely. Provide value in the groups, monitor it from a distance, and use it as a traffic generation tool for passive income.
* Make your offers/posts sticky
Stickiness in this case refers to how long your site’s visitors stay on your site and offers so that they’re more likely to buy from you. Your blog posts should have one or two links (in each of them) to something that the reader could buy. There should also be internal links to other blog posts on topics that your readers may be interested in. Your email signature should have a link to your blog or store. This will lead to more people finding your products and so on. They don’t call it the ‘World wide web’ for nothing. You need a PLR web for your audience to walk around on. The longer they’re in your ‘web’ the higher their chances of purchasing something from you or through you. Passive, passive, passive.
* Have an email sequence
Building a list is only half the battle. You’ll also need an email sequence where emails get delivered automatically. Schedule your emails in a way where 3 informational emails are sent first and every fourth email promotes some product they can buy. This email sequence will generate sales from new subscribers for years to come. Of course, as mentioned earlier, even your informational articles will have links to your blog posts. Your signature will have a link to your PLR store and so on. There’s no need to call attention to the signature link. Reader curiosity will do the trick
Last but not least, we have advertising. This is NOT passive income in the beginning because you’ll need to find an offer that converts. You’ll need the right ad creative and so on. But once you have a winning ad and you know your ROI, then it’s just a matter of sitting back and scaling up. Your profits will increase and you really don’t need to do much other than monitoring the ads to see if they’re profitable.
To conclude, the tips mentioned in this article will help you generate passive sales. It’s important to note that there’s a difference between passive sales and a passive income.
Passive sales are unpredictable for the most part. They’re good to have but you can’t rely on them for stability. As a PLR seller, your focus should be on constantly creating new products, doing new launches, and marketing more aggressively.
Use the money you earn to invest in other income streams that will multiply your income. If you earned enough with PLR to buy a second house to rent out, now you’ll truly have a passive income stream.
Selling PLR is profitable, but it’s not the be-all and end-all to building wealth. Use it as a stepping stone to multiply your earnings. The possibilities are endless.
How to Turn Your PLR Business Into a Passive Income Stream