The ATA Chronicle - March/April 2023 - 14

Before creating a passive income
stream, it's important to perform a
needs assessment not only for your
translation business, but also for
your ideal client.
in your specialization and
you'll attract an audience
comprised of potential
clients. Videos covering a
useful topic in-depth can
also be marketed as classes.
There are two ways
to monetize this income
stream:
y Gain popularity and sell
ad space.
y Charge a subscription fee.
The first is the most
desirable and can be achieved
through good SEO on your
platform of choice (e.g.,
YouTube-specific SEO). This
kind of passive income can
also feed into other streams.
If there's a large audience
watching your videos, it's
easy to promote translation
services, books you've
written, more in-depth
video courses requiring a
subscription, or anything
else you want viewers to
buy. Other brands will be
equally delighted to have you
promote their products and
be willing to pay you for it.
y Skills Required: Writing,
teaching, SEO, and
videography.
y Helpful software:
Wondershare Filmora,
Adobe Premiere Pro.
y Monetization Platforms:
YouTube, SkillShare,
Teachable.
Other Passive Income:
Just about anything you
can create digitally and post
3
14 The ATA Chronicle | March/April 2023
online can be monetized.
It's only a matter of getting
people interested. Other
passive income streams
worth considering include:
Blogging: Gain a large
readership and charge money
for advertisements on your
site. A good blog on your
website will also greatly
enhance its SEO ranking, thus
making it more discoverable
to potential clients.
Cell Phone Apps: If you
know how to code, you could
write your own cell phone
app. Creating a free app
that's incredibly useful to
ideal clients in their daily
professional life is a perfect
way to attract a high-quality
client base. Not only can you
monetize by selling ad space
in the app, but an app is also
perfect for staying in contact
with potential clients. It
offers the perfect avenue and
excuse to communicate with
them whenever you want.
They'll never forget you with
that kind of reachability.
Develop a Strategy
Once you know which
passive income stream to
use and have an idea of what
content to offer, create a
strategy for your passive
income offerings. To ensure
the products you develop
will give a boost to your
translation business, it's
important to conceptualize
how they will funnel clients
toward your services. Like
any other product, digital
offerings will also require
a distribution plan. These
two aspects should be
incorporated into your
passive income strategy early
on to achieve the best results.
Digital products must be
developed with the end in
mind. If you want to write a
low-content book that will
bring in more translation
clients, you need to be
thinking about how it will
do that from day one. If
you want to create helpful
videos for clients, you need
to be thinking about what
would induce them to visit
your website and book your
services after watching the
video. There are many ways
to funnel clients to your
business. Get creative and
give some thought to what
makes clients tick. Here are a
few common methods:
y Include a " call to action. "
This might be something
like saying " visit my
website for a free
consultation " at the end
of a video, telling people
to " buy the book for more
information " on a short
pamphlet, or explicitly
telling people to subscribe
to something.
y Offer a bit of free
information to get
potential clients in the
door. Once they're in,
offer them more indepth
information if they
visit your website, buy
a subscription, buy the
book, etc. Free information
might include a free
YouTube video, a short
pamphlet full of useful
surface-level information,
or anything else you can
dream up.
Social media marketing
and SEO are two of the most
common and cost-effective
ways to distribute digital
products. The simplest one
to maintain is SEO, since
simply choosing the right
keyword and getting the
www.atanet.org
https://filmora.wondershare.com/ https://www.adobe.com/creativecloud/tools/video-editor.html https://www.youtube.com/ https://www.skillshare.com/en/teach https://teachable.com/ http://www.atanet.org
The ATA Chronicle - March/April 2023

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