3) Blogging and Advertising
If you have a blog or website, you can look at turning them into passive income streams as well. All you need to do is sell advertising space on your site.
There’s a common misconception that you need to have an extremely popular, high-traffic website to be able to start selling ad space. This is certainly not true. While it does help if your website has a good amount of daily visitors, what is more important is that you can ensure that the right ads are shown to the right people.
You can get high conversion rates as long as you know your market well – and that’s how you can create big bucks through selling advertising on even low-traffic websites.
You can easily make hundreds or even thousands of dollars a month by selling ad space to other online businesses and ad agencies. You can also assert full control over how many ads you want to take on at any given time so that you don’t jeopardize the quality of and reputation of your website or blog.
You’ll be amazed at how easy it is to make money through ad space. A simple banner ad can earn you around $1,000! The main challenge here is getting the advertisers to be interested in buying ad space on your website. As long as you can show them your statistics and convince them that you can deliver, then you’ll be well on your way to churning out consistent passive income for yourself.