It’s time for another passive income report!
If you’ve been following my blog for some time, you know that during the summer I decided to start focusing on building passive streams of income through my blog.
Up until that point, almost all of my money was made from freelance writing and business coaching. In fact, I make pretty decent money doing those two things and had my first five-figure month earlier this year.
However, I wanted to create streams of income that didn’t require me to trade my time for dollars. And boy has it come in handy the last few weeks! Between traveling most of September and then having a false alarm with Hurricane Matthew in early October, I was definitely not on my A-game last month.
Fortunately, even though I wasn’t on my A-game, I still had my highest grossing passive income month EVER. In fact, we increased our last passive income report by 50%!
So even though I was bunkered down in my house waiting for tropical storm force winds to arrive and my power to go out, I was still making money. This alone gave me major peace of mind.
What This Passive Income Report Includes:
This passive income report includes affiliate sales, product sales and ad revenue.
While I also make passive income in the form of dividends from investments, I don’t count that in these reports because I’m trying to track how much I’m earning from a blog.
I also can’t touch my investment money for a long time so its as if that money doesn’t exist to me. However, if you want me to start doing reports on my investment income, let me know! To be honest, I should probably start tracking that too! Haha!
Why A Passive Income Report
Quite frankly, a passive income report helps hold me accountable. It literally forces me to measure what’s going on with affiliate sales and product sales. What gets measured gets improved.
Additionally, my readers enjoy it when I create a passive income report. It helps them see what’s possible and they learn what strategies actually work. They also learn from my mistakes so they can avoid making the same ones.
Here’s a breakdown of the numbers in this month’s passive income report:
- Making Sense of Affiliate Marketing Course: $560.95
- Bluehost Web Hosting: $100
- ConvertKit Email Marketing: $17.40
- Be Your Own PR Agent Workshop: $147
- Amazon commissions for book sales: $26
- Day Designer Planner: $2.14
- Freelance Writer’s Den: $18.75
- Google Adsense: $6.23 (I’m only $7 away from a $100 payout!)
That’s a total of $878.47 in passive income this past month!
That alone almost covers half of my regular business expenses! My goal is to have passive income cover at least all of my business expenses which means I need to earn $2,000 in affiliate sales on a regular basis.
I’ve been paying more attention to the things that are working versus not working as I begin to build passive streams of income. Here’s what I think is actually making a difference.
I’ve stepped up my social media game – big time.
A couple of those on-demand class sales came about because I was sharing stuff on Twitter and Instagram which are my two biggest social media platforms. I have over 11,700 followers on Twitter and 6,200+ on Instagram. I also know I made some affiliate income from talking about courses in Facebook groups that I’m a part of.
Additionally, I always make sure to direct people on social media back to this blog so I can capture their emails.
And speaking of emails…
Emailing my list.
I’ve also been focusing more on building my email list. I installed a Welcome Mat from ThriveLeads which has more than doubled my monthly opt-in rate.
Killer Resources Page
I have an awesome resources page where I recommend that products and services I use to save money, earn more money and invest my money. This must be where my ConvertKit sales came from because I haven’t had a chance to write a review on it yet. Click here to check out my resources page.
While passive income is usually made online, I actually had a few sales come in thanks to in-person interactions. For example, I had at least three people mention that they wanted to learn more about affiliate marketing so naturally, I directed them to my friend Michelle’s affiliate marketing course.
I also had a few people mention they needed help getting PR but weren’t ready for consulting yet, so I directed them to my Be Your Own PR Agent class.
Everything Michelle taught me.
I took Michelle Schroeder-Gardner’s Making Sense of Affiliate Marketing Course over the summer and spend time implementing every single thing she taught. I’ve gone from making almost $0 in affiliate sales each month to now making almost $1000 in the month of October!
It also only took me a couple of months to go from $427 in passive income to over $875 in passive income. I know this number will continue to increase because now I know exactly what I have to do to keep the momentum going thanks to Michelle’s course.
If you happen to be interested in boosting your affiliate income on your blog, I highly recommend Making Sense of Affiliate Marketing.
What’s Needs Improvement
There’s always room for improvement in business. Here’s where I think I need to make some tweaks.
I love Pinterest, but I’ve been slacking in staying on top of it. While I automate a lot of stuff thanks to BoardBooster, I feel like I may have to outsource re-pinning and finding new group boards. Because I have so much client work, I don’t really have time to be on Pinterest and I’m seeing the negative effects of that.
My email open rates are decent, but I need to work on better subject lines to increase my open rates. If I can increase open rates it should also increase click-through rates which can then lead to more affiliate sales.
SEO and Traffic
My traffic was on a major upswing when I started taking Pinterest more seriously but there’s been some weirdness going on in my Google Analytics. Apparently, a lot of people are seeing some dips in their GA accounts recently so I’m wondering what’s going on.
With that being said, I know I need to step up my SEO game. I’ve got a basic understanding of SEO but I know I can do better with direct traffic. I did buy a good SEO course for $10 (regular price was $197) during a ridiculous sale Udemy was having so I’ll be taking it in the coming weeks.
Overall, I’m very pleased with October’s passive income report. This is the most amount of money I’ve ever made from affiliate sales in one month so I definitely can’t complain!
It’s amazing how blogging went from something I did on the side a few years ago to a career that has allowed different sources of income, including making money passively. If you’d like to start your own blog, check out my free tutorial on how to start a blog for $4.