How to Tap Into Passive Income Online
An integrative healthcare practice that has a strong online presence is almost assured to also have a strong patient base and successful clinic. After all, most practitioners nurture an online presence because they want to engage current patients and convince prospective patients to schedule that first appointment. If you are a practitioner who has done this effectively, your online marketing strategies have probably created a steady flow of patients for your practice and a long list of emails in your database. But even if you have a 6-month wait list and a 6000-email database, the income for your practice is ultimately limited by the number of patients you can see in a day.
This article is for practitioners who have established an online presence and are ready to take it to the next level—to turn that online presence into a stream of passive income. What we mean by a “strong online presence” is a professional website, an active blog, a regularly scheduled e-newsletter, an active professional social media account, and a long list of email subscribers who (most importantly) trust you. Creating an online presence like this takes time, energy, and commitment. We provide additional articles and webinars through our Emerson Ecologics IGNITE series that help guide this process. Once you have created an online presence, you are positioned to capitalize on that investment. A large list of email subscribers who value your opinion and trust your expertise are likely consumers to buy products or services that you recommend.
There are 2 primary ways to create passive income online:
- Promote products that you know and trust
- Promote your own products
Promote Products You Trust
The practice of promoting products that you know and trust is called affiliate marketing. It works like this: suppose you use a certain line of organic and nontoxic skincare products that you want to recommend to your patients. Contact the company that sells those products, and ask if they would be open to you promoting their products as an affiliate. Once you establish an agreement with them, you can send an email to your list of subscribers or post a banner on your website with a link to that company’s products. You then receive a commission on all sales that track back to your link. Affiliate marketing is a simple way to generate income from an established list of online followers. One important point: never recommend a product or service you have never tried yourself, and never recommend a product or service you don’t wholeheartedly believe in. Be authentic and be sincere.
Promote Your Own Products
Promoting your own products is the other approach to generating passive income online. Your own products could be physical items (such as vitamins) or informational materials (such as webinars, e-books, or online courses). An extension of selling your own products is having a virtual patient dispensary. An example of this is wellevateSM, an online patient dispensary supported by Emerson Ecologics. wellevateSM allows patients to order refills of their dietary supplements without making a trip to your office. Your practice then receives a commission on every purchase. The service improves patient compliance, increases the odds of patients reordering products from you as opposed to elsewhere, and creates a source of passive income for your practice.
|Ideas for Informational Materials to Sell Online|
Creating a stream of passive income online is not a scheme to get rich quick. Building a following of subscribers who trust your expertise takes serious commitment. Once you have put in the effort to write blogs, send emails, and interact on social media, why not take advantage of the limitless opportunities available online to generate passive income from your efforts.