Connect with us

AFFILIATE MARKETING

Why Digital Assets are Becoming the Future of Passive Income | by Preston Yadegar | ILLUMINATION | Feb, 2023

Published

on

Why Digital Assets are Becoming the Future of Passive Income | by Preston Yadegar | ILLUMINATION | Feb, 2023

And the reasons why alternative sources are falling behind

Binary code on computer screen
Photo by Markus Spiske on Unsplash

There are thousands, if not millions, of articles describing how you can generate passive income. Two of the most common ideas are:

  • Blogging (which creates indirect revenue from ads, sponsorships, affiliate marketing, etc.)
  • Online side hustles (which creates direct compensation for copywriting, social media marketing, assisting, consulting, etc.)

These ideas are fine, but the truth is that they can take a lot of time. You might not capture any income from these sources for weeks, if ever. What sounds like a source of “passive” income may turn out to be anything but. Side hustles can require a good deal of work, at which point you might as well just call it a second job.

You may be able to generate steady cash flow from these sources eventually, but the upfront input costs are meaningful.

This is a big deal for many people who need or want additional income. Spending 100 hours of your precious time to create a blog, all for a few cents of ad revenue, simply isn’t worth it.

Perhaps the most successful alternative for generating passive income is creating and selling digital products. This category is becoming bigger by the day.

Digital assets include things like templates, spreadsheets, ebooks, and graphics. For instance, you can create spreadsheet templates for any of the following use cases:

  • Personal budgeting
  • Retirement planning
  • Project management
  • Event planning
  • Marketing campaign management
  • Personal productivity / goal setting

Alternatively, you can create and sell assets like Notion templates, Canva templates, and graphic designs. These products can vary in price, from as low as $1 to upwards of 600€ a piece!

Premium Notion Listing going for 600 Euros
Screenshot by author from Notionery

It’s not enough to create a nice template though. It needs to look attractive and provide the user with an intuitive, guided experience. Otherwise, the user may simply be confused and will regret buying your product.

Here’s an example of a nice-looking spreadsheet I found on Tiller:

A spreadsheet for retirement planning by Tiller
Screenshot by author from Tiller

This template does a few things right:

  1. Leverages charting features to create an easy-to-understand result
  2. Pre-populated with sample information to act as a baseline for new users
  3. Provides spacing between different components to provide clarity
  4. Uses colors to signify different ideas and increase visual appeal
  5. Includes a brand asset which may generate some referral traffic

Compared to a plain spreadsheet, this asset has much greater chances of delighting the user and providing value.

But you have to go beyond the basics these days to capture meaningful value. Anyone can create a spreadsheet with pretty graphs and eye-catching colors. Indeed, many such assets are already available for free.

In order to succeed, you need to create products that are tailor-made to specific use cases, and those products need to provide direct value to users. Blog posts tend to provide very thin value, if any at all. Maybe you change someone’s way of thinking for the better, but how actionable or impactful is that change?

If you’re having trouble thinking of new use cases, then you can instead think about specific verticals. Going with the topic of retirement planning, you might make a retirement plan tool designed just for teachers (or police officers, photographers, etc.). Think about what problems or issues that group of people might face in relation to the broader use case.

Creating a valuable digital asset isn’t enough on its own; you also have to get it in front of the people who need it.

It is true that these assets do require some input costs (e.g. for distribution). But this task is relatively easy compared to blogging and side hustles. Because these assets are standalone products, attracting demand can be quite straightforward in practice.

Blogs have to compete in a global arena of content. How will someone discover your blog? Why would they read your blog over another one? What tangible value is your blog creating for readers?

The answers to these questions reveal that it’s quite difficult to do well in blogging. To make matters worse, people are becoming less interested in written content in general, as video and audio content rise in popularity.

On the other hand, people may find digital assets quite easily. Someone searching for a solution to a particular problem (e.g. retirement, management) already has high intent. You can list your assets on a dedicated marketplace or listing center where people already go. In many cases, that actually means getting blogs (or other commentators) to write about your digital asset. Rather than be the writer, be the creator.

Coupled with the fact that these tools have much less competition (i.e. than blogging), it’s easier to stand out and be discovered. By thinking on the forefront of niche problems, perhaps you can escape the crowd and find success.

If you can figure out how to get your tool in front of your target audience, then perhaps you can attract enough attention to generate revenue. Post about your digital assets online (i.e. social media) to get the attention of your potential users.

I hope that this post inspired you to create something valuable for others. While blogging and online side hustles will increase in competitiveness, digital assets will continue to evolve and expand in value.

If you’re looking for more ideas on generating passive income, follow me on Medium.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

AFFILIATE MARKETING

How to Claim Money in Disney’s $9.5M ‘Dream Key’ Settlement

Published

on

How to Claim Money in Disney's $9.5M 'Dream Key' Settlement

If you bought a Disney Dream Key pass from August 25 to October 25, 2021, you could receive part of a $9.5 million settlement.

Disney has settled a class action lawsuit filed in November 2021 in California district court over how it marketed its $1,400 Dream Key pass, a program that allows customers to pay a flat rate to go to Disneyland and California Adventures theme parks whenever they want throughout the year.

The settlement website shows that payments to qualified class members were sent either by check or through a digital payment on June 14.

Related: Parents With Young Children Are Taking on ‘Disney-Related’ Debt for Trips to Theme Parks, According to a New Report

Unless a class member excludes themselves from the settlement payout, they give up any right to sue Disney over the same claims in the lawsuit.

Disneyland. Photo by Barry King/WireImage

According to the plaintiff, Jenale Nielsen, Disney advertised the Dream Key Pass as a way to enter Disneyland without any restrictions. When she bought the pass and tried to make a reservation, however, she found that Disney had blocked out many days, including all weekends in November 2021.

“Given that Disney had advertised and promised that there would be no ‘blockouts’ for Dream Key holders, Ms. Nielsen was surprised,” the filing stated.

Nielsen looked at Disney’s website and found that it still had passes available for sale on the days it had barred Dream Pass holders, so the blocks weren’t caused by tickets being sold out.

Related: A Fifth Walt Disney World Theme Park Could Be Coming Soon — Here’s What We Know

The filing called the Dream Key a “second class ticket” to Disney’s parks and said that Nielsen “was deceived by and relied upon” Disney’s “false and deceptive advertising.”

1718664962 482 How to Claim Money in Disneys 95M Dream Key SettlementLocked Disneyland during the pandemic. Photo by Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images

Disney denied all of Nielsen’s claims as well as any wrongdoing or liability.

Nielsen received $5,000 as part of the settlement and 100,000 others affected will receive around $67.41 from Disney.

Related: Disney World Concession Prices Have Gone Up 60% Over the Past Decade — Including Two Fan Favorite Sweet Treats That Have Skyrocketed in Price

For reference, a standard Disneyland theme park ticket starts at $96 to $194 per day.

Disney has now made changes to its Magic Key Pass advertising. The Dream Key is no longer available to purchase. In its place, the highest tier is now the Inspire Key, priced at $1,649 and labeled as subject to “applicable pass blockout dates.”

The Magic Key calendar at the time of writing had availability open for almost all days in July, August, and September for Inspire Key holders.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

AFFILIATE MARKETING

Stay Focused with These JBL Headphones for $25

Published

on

Stay Focused with These JBL Headphones for $25

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

With so many calls and meetings taking place remotely these days, serious entrepreneurs and business leaders need reliable headphone options for blocking out distractions and zoning in on work. For those who are on the hunt for a highly capable piece of tech that’s also affordable, this deal is worth checking out.

For a limited time only, these new, open-box JBL Tune 510BT Wireless On-Ear Headphones are on sale for only $24.99 (reg. $49). An open-box deal typically means the product was excess inventory from store shelves, and it also means that these headphones have been inspected and verified to work like new.

So, with impressive savings on a fully capable pair of 2021 headphones, you can count on powerful and deep bass when listening to music. It also features quick switches to make switching from listening to a tune while you get through busy work to taking an unexpected and important call from a prospective client seamless.

These on-ear headphones also support Siri and Hey Google. With these tools, you can activate hands-free calling with a simple request and control sound settings and other functions with voice commands. They also offer a quick five-minute recharge feature that gives you two additional hours of music, which is great when you’re in a bind.

Busy entrepreneurs need the freedom to take calls while keeping their hands on their keyboards. Make your access to calls and meetings a lot better with these JBL Tune on-ear headphones.

During a special limited-time sale, these open-box JBL Tune 510BT Wireless On-Ear Headphones are on sale for only $24.99 (reg. $49).

StackSocial prices subject to change.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

AFFILIATE MARKETING

Use This Code to Get 1TB of Cloud Storage for $120

Published

on

Use This Code to Get 1TB of Cloud Storage for $120

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Whether it’s important PDFs, presentations that you made for ongoing clients, or important contracts that would be detrimental to ongoing relationships if ever lost — there’s a lot of data your business needs to protect. That’s why it’s simply common practice for modern companies to have a number of verified and reliable cloud storage solutions.

If your team is in need of some space, here’s a great deal worth checking out. For a limited time only, you can get a lifetime subscription to 1TB of Koofr Cloud Storage for $119.97 (reg. $810) with code KOOFR. This single-payment deal features helpful access to a lot of space. A terabyte can hold roughly a quarter-million photos, 500 hours of HD video, and more than 6 million smaller file types like PDFs.

You can count on top-notch security when using Koofr because of advanced file encryption practices, the company says. They also have a zero-tracking policy, so you can rest assured that sensitive documents saved on Koofr will still remain private to your team or whoever you want to provide access to.

Koofr’s also great for companies because it’s compatible with other popular cloud accounts like Dropbox, Google Drive, and OneDrive, so adding it to the mix should be easy.

For those who want a little more reassurance, just take a look at Koofr’s scores among the most reputable tech review sites out there, including a 4.6/5-star average on G2, Capterra, and GetApp.

Make sure to do your business a favor and secure this lifetime subscription to 1TB of Koofr Cloud Storage for $119.97 (reg. $810) with code KOOFR.

StackSocial prices subject to change.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending