Passive Income Challenge Day 16.
Running Ads As a Source of Passive Income
A lot of people get really interested in running advertisements especially with how easy it is to run ads with platforms like Facebook. But, can you really run an advertisement to something and basically set it and forget it for passive income? You can. But it will take some knowledge and practice.
Know Your Audience
Targeting is imperative in this case because you really need to know who to target with the advertisements you create. If you’re iffy on that, you may need to do some research and dig in to find out exactly who to target with your offer.
Know Your Product
Just as you need to know the audience, know your products that you plan to promote enough to know what problems they solve for your audience, why they are the right choice for them, and how to talk about them in a way that gets people to want to buy them. Plus, you need to know what type of free offer relates to the products you are ultimately going to promote.
Follow the Rules
Most platforms that allow some form of advertising have rules. Read them and follow them. You don’t want your advertisement pulled because you forgot to dot all your I’s and cross all your T’s, thus wasting time and maybe even money.
Be Prepared to Test
Rarely, an advertisement will work the way you want it out of the gate. You may have to try several variations of your advertisement to get the results you want. You will start the advertisement, give it some time to run, look at the stats, then make tweaks. When you get it performing how you wish, you can up your investment if you keep tabs on your ROI.
Use Ads for List Building
Most of the time, the best use of your advertising dollars is going to be for list building rather than for a product directly. This is not always the case, and you’re free to try different ideas, but you really want to put a lot of focus on list building until you have an established brand. Advertise a freebie that you know your audience will truly want to get them on your list.
Rely on Your Autoresponder Sequence
When you start building your list, you should rely heavily on your email autoresponder sequence to send out information and offers on a regular basis. At least once per week. If you set up evergreen content to go to the subscribers, you can add in more later. I know you’re thinking, but they’re going to be mad. You’re doing them a service by sending them free information. If they are mad that you email them after they signed up to receive your emails, they’re not the right people for your list.
Once you get the parameters right, and you’re steadily building your list with people who are interested in what you have to say, and what you promote, you’ll start noticing your sales are increasing. Often as you build your list, it will become like a snowball effect. At first, it seems like nothing is happening, then it will pick up and start paying off. Therefore, you have to also be willing to give it enough time to work. At first, this might not seem all that passive.
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Running Ads as A Source of Passive Income