What Are the Best Apps for Earning Passive Income Online?

TL;DR

The best apps for earning passive income online include Shopify for managing your e-commerce store, Printful for hands-off product fulfillment through print-on-demand and dropshipping, Printify as a backup for product supply, TaxJar for automating sales tax collection and filing, and CM Commerce Marketing for customer retention and marketing. These tools streamline processes, allowing you to run your business mostly on autopilot.

Transcript

• Hey, everyone. So due to super popular demand, today, I'm gonna take you behind the scenes of one of my sources of passive income, my e-commerce business, and show you my five favorite apps that I use to run my business, 99% on autopilot. Yep, the only real thing that a human, i.e. me or one of my staff members, have to do is customer service, li... Read More

Key Insights

• 💰 Selling on a third-party marketplace like Etsy can save time on marketing, but it may lead to lower profits due to competition and advertisements on product listings. ⏰ Time is considered extremely valuable by the content creator, who prioritizes passive income to preserve time while earning money.
• 🛍️ Shopify is the preferred app for running an e-commerce business, as it offers user-friendly features and integrates well with other apps.
• 🔎 Shopify's SEO-friendly software helps drive free traffic and customers through Google search results, making it a powerful tool for marketing and sales.
• 📦 Printful is an app that allows for print-on-demand products and dropshipping, enabling automated packaging and shipping to customers. It integrates seamlessly with Shopify.
• 🔄 Printify is a backup app that can be used if Printful runs out of stock for specific items, ensuring a continuous supply of products for the business.
• 💰 TaxJar simplifies the process of collecting and paying sales taxes, automating calculations, and even offering an auto-file feature for filing paperwork and paying taxes to different states.
• 📧 CM Commerce Marketing is an email app used to market to existing customers, through features like customer receipt email sequences and abandoned cart recovery emails.

Questions & Answers

Q: How does Shopify help with SEO and driving traffic to an e-commerce store?

Shopify has built-in SEO features that make it easy to optimize product pages with relevant keywords and related phrases. This helps the store rank higher on search engine results pages, driving organic traffic from platforms like Google. Additionally, Shopify's user-friendly interface allows staff members without SEO expertise to make necessary tweaks to improve SEO.

Q: How does Printful enable hands-off packaging and shipping for e-commerce businesses?

Printful offers print-on-demand services, allowing businesses to sell custom-designed products without having to create or store inventory. When a customer places an order, Printful's warehouse fulfills it by printing the design onto the chosen item, packaging it, and shipping it directly to the customer. This process eliminates the need for the business owner to handle packaging and shipping, making it a hands-off experience.

Q: What is the purpose of using TaxJar for an e-commerce business?

TaxJar simplifies the process of collecting and paying sales taxes for online businesses. It helps determine which states require sales tax collection based on nexus criteria, automates tax calculations, and generates necessary paperwork. TaxJar's auto-file feature handles filing and paying the correct amount of sales tax to each state, saving time and reducing the need for accountants.

Q: How does CM Commerce Marketing help increase customer retention for e-commerce businesses?

CM Commerce Marketing enables automated email marketing campaigns for existing customers. It can send receipt emails with personalized product recommendations and time-limited discount coupon codes to encourage repeat purchases. Additionally, it allows for abandoned cart recovery emails, reminding customers of their unfinished orders and offering incentives to complete the purchase. These features help drive customer engagement and increase sales.

Summary & Key Takeaways

• The speaker shares their goal of earning money passively and valuing time, explaining their preference for passive income streams.

• The first app discussed is Shopify, which is used to run the e-commerce business, accept payments, and manage orders, with a focus on its SEO-friendly features.

• The second app is Printful, used for print-on-demand and dropshipping, allowing for hands-off packaging and shipping of products to customers.

• The third app is Printify, a backup option for print-on-demand when Printful runs out of stock.

• The fourth app is TaxJar, which simplifies collecting and paying sales taxes by providing information on nexus and automating tax calculations and filing.

• The fifth app is CM Commerce Marketing, used for marketing to existing customers through receipt emails, abandoned cart emails, and discount coupon codes.