How to Add Income Streams as a Digital Marketer
As a digital marketer, you're always looking for ways to add more income streams. In this video, I share five different ways that you can do just that - and I promise, they're all pretty easy to implement! So watch now and start making more money today.
Are you looking for ways to add income streams as a digital marketer in this video, I'm going to share with you just how to do that? My name is Rich Ux. I'm a digital marketer and I've had the fortune to add multiple income streams. Take my life to a new level. And now I think I really understand how these income streams work well together.
And in today's blog, I'm going to share with you five core income streams that you can develop, especially if you have the basic digital marketing skills, stay tuned.
Today I'm going to talk about the core income streams that I've been able to create, and the ones that you should probably be thinking about too, as a digital marketer. Now let's start with the obvious working for other people. AKA service.
Sometimes we call this B2B services. Sometimes you're a freelancer. Sometimes you're an agency, sometimes you're in between, but the fact is you get paid to help other companies grow. And this is great. This is one of the highest paying income streams. There is. However, it's also one of the most demanding Time and resource wise.
So it might not be the only income stream you want. You might be looking for something more, passive, something more scalable, something more easy it depends on your nature. It depends on your skills, but let me explain something to you about services. That's important to understand a lot of people they'll be like, unless I can get to you.
3 4, 5, 10 K a month per client. Like it's not worth it. The funny thing about services is because it's such a professional process because it forces you into this situation of learning so many things, delivering living up to expectations. There's this real sort of detail-oriented aspect about it.
If you were to go create your own blog or something like that, And then that's not one of the income streams that I'm suggesting right now. You might do a half ass job, right? You might not do every little thing. You might let a few things slide here and. So, the process can become wonky, but when you do services, you often create standard operating procedure.
You often have a list of scope; you know what exactly you're going to provide. You might have made a contract; you're going to have a final deliverable. You're going to be able to explain what it is you offer. Exactly. So, I think that there's power created in just the act of doing professional services, but when it comes to the other income streams, what I want to tell you is.
If you don't feel comfortable managing clients that are paying 5, 10, $20000 a month, if you don't want to have a team, if you don't want to employ people, don't worry about that. Necessarily realize that even if you had a client who paid you $300 a month, $500 a month, even if you did the work for free, there's some benefits you can get here that will help you create other income streams.
2. Micro Product
Let me explain number one, the first. Or I should say the second income stream that you would get is to create a micro product. And what I mean by this is either a template, an online course, or a tool that helps other people with the work they're doing. So let's say you are gonna offer content creation services, or content marketing services, and you don't really want to build a team.
You don't want to manage social media. You don't want to have multiple clients. No problem. Maybe you use your experience in some smaller scenarios. Like I was saying, whether you're working for free, whether you're working for small clients, whether you're working for your family or friends, just making a few hundred a month, supporting them, use that experience to design a product right out, use that experience and you take everything you're creating there. The SOP and turn that into a checklist. Take your dashboards, your templates, and turn those into micro products. So even if you're not scaling a B2B service business, simply the act of thinking about services, doing the process of services, it's going to create you some unique assets that you could start marketing on your own, right?
So, you could have content marketing checklist, content, marketing, dashboard, content marketing. Content marketing system, content, marketing guide, strategy guide specific platform guides, everything could be created out of the act of starting those services. So, the income stream number two is to start having confidence in what you create, if it was good enough to potentially have clients, but you just don't want to go down that route.
You'd rather be a product owner, which I totally understand and resonate. Turn your ideas into products. At the end of the day, you're gonna have to make a product worth the price you charge. But guess what? You can start small. You can start with $7 products, $27 products. No one says you need to have a $2,000 high ticket product right off the bat.
And what you do is after you make that $7 product, it can be a one page PDF. It can be a 10 page guide. It can be a notion template. It can be so small, as long as it helps someone solve a problem, go faster, make their life easier. They're gonna be happy with your product, and you're gonna know, does anyone ever ask for a refund?
Does anyone ever complain suddenly you have the confidence that I can create low ticket product. And I think that this is a huge stepping stone for people to realize, Hey, I can own something and I can sell it online. And that's very scalable because it's gonna be a digital delivery. Now you're in the world of information products, right?
3. Affiliate Marketing
The next income stream that goes really well with that. Is affiliate income where you sell other people's products, right? So maybe in your content marketing system, your content marketing ebook, or guide your content marketing template or checklist, you recommended some tools. You recommended Canva, you recommended script, you recommended veed.io.
You recommended later app. You recommended this hashtag tool. You recommended this graphics package, all these things that you recommend that people use could potentially be affiliate links. So now you're selling this $7 product. people are happy with it. It's up to them. If they go buy the tools that you recommend, but now all of a sudden there's a secondary income stream there.
So these little micro products and affiliate products go really well together. Suddenly you can have one or two clients. You can have a few products that you're building and they're very simple. You add in your affiliate products as well. Now you've got three income streams all based on this initial skill set of content marketing, which we started with this could apply to funnel building.
This could apply to conversion rate optimization. This could apply to Facebook ad management, Google, AdWords management, all of those concepts ideas, skill sets can be turned into micro products because there's not only other marketers who wanna learn there's business owners and solo entrepreneurs who want to do it themselves.
So this is the DIY world, and there's so much to offer here. There's so much value to give, and there's a lot of money to be made in that process. Now the affiliate world is so broad. It's, there's tons of different offers up there. I think what happens is a lot of people get into affiliate marketing.
They don't know where to start. But where you should start is what you'd actually use and how you'd actually use it. And why it's a part of that micro product. Why it's a part of your business service process tech stack? I only recommend affiliate products I use, but I use a lot of them. And that's one of the most beneficial things about being in the marketing world, the digital marketing industry.
We're a very tool, heavy world. People love to get tools. There's a lot of low cost tools that are on subscription models. That means recurring affiliate fees every month. Now let's say you've got that micro product. Let's say you've got some affiliate income attached to that. Why don't you now go demonstrate your tool, demonstrate your system, walk through your guide and put that on YouTube.
Put that on Facebook video, put that on TikTok and Instagram, put it on LinkedIn, put it everywhere. You can distribute your ideas in a sort of low impact way. You don't have to give away everything, but that's the cool thing about selling like a tool or a checklist or a guide is oftentimes the marketing material.
They're valuable and people want to learn from them, but they have this like FOMO of oh, I really also want the tool he's using. I really want that checklist that will make my life easier. I don't have to create it themselves. So even if you show people your product, even if you reveal the whole thing, you demonstrate in a video, a walkthrough, a screen, share a tutorial.
4. Ad Revenue
They'd rather pay you $7, $17, $27 than have to create it themselves because time is money. And if you've got a great product and it looks good and you show how it works and it saves people time, they're gonna be highly interested in checking that out. So where does this lead is that if you start a YouTube channel, that was my primary idea is that you can get YouTube AE, right?
And in the world of marketing, in the industry of market, The ads are very expensive, cuz there's so many people who wanna advertise in the marketing industry because there's so many tools. It all works really well. It's very synergistic. So you get pretty good ad sense with YouTube.
Of course you got to work towards it, but that's something that we all have to do. It doesn't mean it's not possible. Why not? If you're a digital marketer start considering going down this path, instead of adding an extra client, why don't you go create that first micro product? Why don't you start a YouTube channel and promote it? Why don't you integrate a few affiliate products as well?
Now here's the cool thing. One final, the fifth income stream that you can add here is when people buy your micro product. You could offer them an upsell. You could offer them a secondary tier, an option. You could send them an email sequence campaign. All of those would be designed to ask them, would you like help?
Would you like me to help you work on this tool? Would you like me to help you coach you on how to use this product? I created. Would you like some consulting on how to use this for your business? It's all depending on what tool you create and how it contextualizes with their businesses and whether there's any niche element to it.
But that fifth income stream is basically coaching and consulting. You're not doing it for. You're advising them, you're answering questions, you're helping them. So this is that done with you concept, right? So we have three main pathways I talked about. Do it yourself. Now I'm telling you about done with you.
And then there's done for you and it's the most expensive version. And that's the services that's that B2B service offering that you started with in the beginning. So here's the funny thing. A lot of people get into this world of offering services and they go for done for you right off the bat, because they feel like that's where the most of the money is made.
But that's where the hardest money is made. That's where the most work needs to be done. That's where you never really escape. The time trading in many cases, if you go build that product, if you build out five to 10 YouTube videos, just for that product, if you add in affiliate products to your product, and if you add in a bit of coaching and consulting upsells, once that's all completed, there's not a lot of recurring work you have to do to keep those income sources going.
And now what if you did this five times, what if you had five, $7 product? Each of them leading to an upsell. Each of them integrating one to three affiliate products. Each of them being promoted on YouTube. Now you're growing a brand. Now you're building a YouTube channel. Now you're actually getting ad sense from people watching your tutorials and videos.
Now suddenly like B to B isn't. your whole world. Now, suddenly you have more freedom and time now, suddenly you don't have quote unquote clients that are telling you what to do all the time and Hey, you're not gonna have that big chunk of monthly income coming in from those clients, but maybe you can find a better balance here.
Maybe you actually are more happy going this way. So I think a big picture of this video. If you're gonna be a digital marketer, understand that you can support and bring value to the marketplace. You can support clients in three different ways. Done for you. B2B services, white glove. We handle everything.
We charge you three to 5,000 a month for this package. That's so common now it's getting more and more competitive. That's not a bad. That it actually brings the market bigger but it's not easy. You're always having to be on your game. You have to have client meetings, you have to write contracts, you have to collect payments.
You have to deal with revisions, sometimes unhappy clients that happens. But then we also have the done with you and the do it yourself. And these worlds are completely unexplored by most digital marketers. I think I've done a good job of exploring them. I think I've created an interesting model.
I've done all three paths. I continue to do all three paths. Why not? Ultimately, what you're really trying to do is build a life of balance of happiness with multiple income. There is no version of this where one income stream is the answer. It is always multiple income streams. That is always the Futureproof way.
That is always the key to more success. That is always the key to more freedom, multiple income streams. So if you've been stuck on B2B, this video was for you. If you're unsure how to start, get some confidence from this and realize that even if you just get one small client. Use that client to define the perfect process, make that process work for them.
Don't worry that you haven't closed the biggest deal. Yet. Turn that process into a checklist. Turn that process into a guide. Turn that process into a tool. Set templates, give these things away for low cost. Add in affiliate income. Start promoting yourself on YouTube. And don't forget to add in that ups.
So then you get clients through your micro product that aren't even that intensive. I think that sounds so alluring. I think that sounds so beneficial. And I think that when people buy your micro product, suddenly you have way more authority and they didn't even realize they were gonna hire you, but they do.
They're like I wanna hire the creator of this tool to help me. I want to know how to use this. They saw your YouTube video. They trust you. Versus the B2B service provider having to send 50, 60 emails to get a meeting, to potentially get a client where those clients don't really know your authority.
It's not that you're not good. And it's not that you can't close those deals. It's just, it shifts the relationship. Suddenly now you are the authority because you created the product that they want to use. You created the tool or the templates that they're trying to apply to their business. And they'd like a strategy session now from you in how to go to the next level.