15 Cold Calling Alternatives for Lead Generation To Boost Your Income

15 Cold Calling Alternatives for Lead Generation To Boost Your Income

Can you cry underwater? Or sweat while swimming? Do fishes swim while eating or how long do they wait to swim after eating?

These ancient questions have perplexed humanity for decades, but for many sales representatives, the question that’s left them troubled is whether cold calling still works or not.

man in black suit holding a laptop in hand

There’s tons of research that highlight the idea that soon enough cold calling will be discarded. Whether it’s going to be forsaken is up for an argument, but what’s certain in the minds of many sales leaders is that it’ll be less frequently used than other prospecting methods and lead generation techniques.

Cold calling was one of the most effective prospecting strategies but in the last 4 decades, a host of other alternatives emerged.

While we can’t say that cold calling is never successful, necessary, or useful. It’s a wise move to ensure that your other prospecting strategies are solid enough so it’s not your go-to technique.

Why? For one, cold calling has a 2% success rate. Imagine driving with your eyes closed. That’s what you do with your marketing every time you opt for a cold call. 

As a salesperson or marketer, you have more information, technology, and tools at your disposal than has ever been available for a quality sales process. And the worst move you could make is trying to make sales blindly with cold calls.

Once you’re able to generate leads without cold calls, you’ll dramatically boost your marketing budget ROI.

So let’s go through the list below and explore 15 alternatives to cold calling geared towards helping you hit your future sales targets.

Before that though, let’s see why you need cold calling alternatives.

Why Opt for Alternatives to Cold Calling Lead Generation?

Cold calling is an ancient sales strategy that works by calling persons that you have no relationship with. It still is infused into the sales reps’ contemporary workflow, but there are far better ways to implement this outreach.

man working on alternative of cold calling lead generation

For example, a great prospecting strategy must be:

  • Consistent: That is it can reliably generate fresh leads continuously.
  • Targeted: A good prospecting strategy should connect you with relevant prospects, not random people.
  • High Returns: A solid prospecting strategy pulls in a huge number of prospects for the equivalent amount of energy put in.

Cold calling achieves none of this. With it, you’re calling people you have no connection to and the conversation is just about your offer.

And when you relate this to the statistics available, you can see why this approach isn’t efficient anymore. For instance, more than 200 million people are on a national list for “do not call”.

That’s not all. Most businesses are not even taking calls except you want to speak to a contact you already know. And telecom giants like T-Mobile are offering data-only packages for mobiles.

All these make it clear that the desire of humans to talk to people over the phone is fading, most especially if those calls are unexpected.

Besides, potential customers can now research brand reviews, information, and feedback. And every kind of data online about your business. All these things make cold calling appear as an unnecessary nuisance.

Potential customers don’t need sales reps how they used to.

It’s even fair to state that any random person who interrupts your day with an unexpected 3-minute call script may have to do some impressive speedy talking to stop you from ending the call.

What’s worse is further research reports that cold calling is ineffective 90% of the time and another study revealed that 63.27% of people reject or ignore calls from businesses and random numbers.

cold calling effectiveness statistics

This means that if we assume a 0.3% booking rate for appointments and a 20% success rate, you would have to make 6264 cold calls to get 4 sales! That’s horrible!

The odds are certainly not in your favor if you stick with cold calling as your only lead generation strategy.

With that in mind, we’ve put together a huge list of alternative techniques in this piece to enable you to properly and effectively generate leads. You can also merge the strategies below for better results.

1. LinkedIn

linkedin lead generation

LinkedIn is an excellent way to build a personal relationship with a prospect before calling them. That said, it’s also valuable for increasing your network audience.

For instance, tools like LinkedIn Sales Navigator, are great for locating leads that satisfy your buyer persona and taking full advantage of your mutual connections to build relationships with top-level decision-makers.

90% of business-to-business (B2B) executives do not respond to cold calls anymore.

Also, these LinkedIn messages create room for personalization from prospect and company research, which is information that usually isn’t evident in a cold call. And they take much less time than cold calls. That’s not taking into account the loss of drive that can occur in a harsh cold call rejection.

You can share content on LinkedIn as well to initiate organic interactions with your current connections or generate inbound leads.  This is a form of “thought leadership” that’s rapidly gaining popularity amongst salespersons to prospect fresh leads.

2. Email Promotion

lead generation with email marketing

Email marketing or promotion is the use of emails to promote or market your brand and its services. Every email you send to prospects on your mailing list should nurture them as they head towards conversion.

And to automate and segment this process you can take advantage of customer relationship management (CRM) solutions.  Email promotion is also a powerful way to keep your business in the mind of people who are interested in it, as well as, induce repeat business.

An email campaign that offers valuable data to your inbound and does not revolve around your offer is an excellent way to connect with prospects.

Plus, offering email content that isn’t just satisfying a sales pitch or meeting requests is a great way to build engagement from leads that may be hard to get to otherwise.

If you get your email leads via your website it offers you information on the user’s behavior. You get to see what they engaged with while on your website and how long. This gives you enough information on how to contact the lead and the target message to use.

That said, it’s vital to state that if you’re in Europe, your web visitors need to opt-in to your email subscription because of GDPF regulations.

3. Sales Process Relationships

persons shaking hands to build sales relationship

Sales process relationships or social selling involves fostering relationships during the sales process by connecting directly or sharing relevant content via mediums like social media.

There are so many techniques in this lead generation method. For example, joining LinkedIn or Facebook groups that are relevant in subjects that are of interest to your target buyers can be a crucial place for interacting with fresh leads.

Also, answering questions on platforms like Quora displays your passion, experience, and expertise. This attracts interest in your skills which you can then follow up with a sales targeted interaction in a non-pushy way.

You can host webinars to share your expertise and knowledge with prospects in your target audience as they’ll be more likely to embrace your solution after listening to you because it shows them that you know your stuff and understand the pain points they need satisfied.

Every form of content like blogs, or vlogs can be used to display the intertwined relationship between your prospects’ pain points and the value your solution offers.

Just sharing relevant content from other sources can also work perfectly in building prospect engagement and fostering your brand’s credibility.

Also, you can use social listening tools like Sales Navigator and Google alerts to set up notifications that show up when a particular prospect puts up a post that’s relevant to your brand or experiences a major change.

So rather than use an out-of-tune cold call, you can engage with your prospect’s content in a genuine way to build a connection before you make your sales pitch.

4. Referrals

referral marketing

Did you know that 84% of B2B executives begin their buying journeys via referrals?

Requesting your loyal customers to refer people to your business who are relevant to the same is an effective strategy. Such channel multipliers and partners are especially vital for small scale businesses to grow.

Again, there’s something you can take advantage of with LinkedIn when seeking referrals as the platform allows you to see your network’s mutual connections. This allows you to target your advocates for referral leads.

Plus, direct referral requests are better sent via LinkedIn or email rather than via calling.

Not only can you find referrals in your current customer base, but you can also generate leads through consultants, and coaches.

5. Warm Calling

girl working on customer service

Warm calling involves you establishing contact with the prospect before you reach out to them.

The connection can happen over social media networks like LinkedIn, or via a mutual colleague introducing you to each other before you try to close the interaction by making a sale.

Normally, warm calling happens through personal referrals, however, it’s very effective when implemented via social media channels.

Analyzing warm calls’s 30% success rate versus the 2% for cold calls is enough evidence that it offers better methodologies for sales reps to implement.

It’s also obvious that salespersons are more likely to get an appointment if they’ve previously built a connection with the prospect. This is another reason warm calling produces better results than cold calling.

Warm calling can also happen after engaging with content that the prospect shared or posted.

6. Webinars

studio setup for webinar

We’ve already touched on this previously, but let’s get into a bit more detail. Webinars are online seminars that may consist of panel discussions, interviews, or the host talking directly to the viewer.

Webinars can also be used in lead generation by collecting prospect contact information via online forms in exchange for access to the webinar.

This method even allows you to classify prospects based on how close they are to converting by analyzing what topics they are interested in.

Inviting guest speakers who are known in your niche can pull in a fresh audience as well.

7. Paid Advertisements

drawing of online advertisement methods

Online ads on social media channels and search engines are a quick way to direct traffic to your website, especially if it’s just been launched.

Platforms like Facebook allow you to create ads that target particular demographics and keywords to amplify your ad’s impact.

Paid ads are a crucial aspect of any ad campaign and must be a continuous component of your marketing budget till you get a stable organic inflow.

8. Retargeted Ads

retargeting process illustration

Retargeted ads are adverts on search engines or social media platforms that are targeted at your website’s past visitors. This is possible via tracking codes, or cookies, which gather information about people when they come to your website.

You can then use this information to show them relevant ads when they’re off your website. Research shows that retargeted ads are 10 times more powerful in causing sales conversions than display ads.

The moment your website starts getting huge traffic volumes, retargeted ads are one of the best ways to take advantage of it.

9. Direct Mails

direct letter sending marketing

Do you recall when last you sent a letter or even opened one? Probably not, either way, many accounts of successful snail mail or direct letters marketing campaigns exist. Why this method works is due to the opportunity for personalization it presents.

Also, a small gift sent alongside the letter can even be included as an incentive without overshooting your customer acquisition costs because of how cost-effective this strategy is to lead generation budgets.

10. Physical Events

speaker presenting on a live conference in front of audience

Besides networking via social media, there are loads of physical networking events that happen in all regions and industries and such programs offer a huge opportunity to find decision-makers.

These events may be conferences, fairs, and exhibitions as well as networking events. The entry costs to such events are usually worth the number of leads you can generate if you chose the event correctly.

11. Incentives

incentive offers to acquire leads

Loyal or returning clients cost less in terms of acquisition than fresh ones, and a great way to pull in more recurring customers is by giving incentives.

Think of running a rewards or loyalty program for clients who sign up. Perks like discounts after making a certain number of purchases or even rewards for referrals are great offers to keep customers spreading the word about your business.

Incentives can amplify your marketing opportunity as popular offers can magnet new leads by word of mouth or online buzz.

12. Gated Downloads

gated download icon

A gated download is content that requires the prospect to take a step like inputting contact details to access the information to be downloaded.

The download offer could be a checklist, case study, white paper, infographics, video, or anything that can be valuable to the prospect’s journey.

The moment you get the person’s information, you can then market them some more to get additional information that’ll push them nearer to your sales pitch.

13.  Landing Pages

digital diagram of landing page

The first place a web visitor arrives when they click through to your website is a landing page. That said, the term is usually used to imply a dedicated page created to convert traffic to leads.

Most landing pages are used to gather prospect contact information for gated content. You can use landing pages at any point in the buyer’s journey but it’s most effective in the consideration stage when prospects know they need a solution to their problems.

14. SEO

search engine optimization

SEO or search engine optimization is the process that a website undergoes to optimize it for search engine algorithms. Websites that have better SEO rank higher in the search engine results pages than other sites competing for the same keywords.

This increases the chances of a prospect clicking on the website. A lot of the SEO changes done to a website can boost its overall accessibility and user experience. And this results in a cycle of traffic boost that further amplifies rankings.

15. Social Media Engagement

instagram twitter facebook apps on a smartphone

Maintain interaction with prospects on the various social media platforms that you have pages on. And always reply whenever a potential client reaches out to you, cautiously though.

For example, if you share or repost a prospect’s content on LinkedIn and they like a tweet from you, don’t send them a private message immediately.

Maintain casual social media engagement by tagging them to content that they may find interesting, follow them, or like any other posts they put up.

By turning your social media visitors and followers who would still be in the research stage into prospects by engaging them you ensure that they’d be more receptive and willing to listen to you when you make your sales pitch.

Since you’ve built a relationship, it’ll be a lot easier to make the sales pitch than if you simply give them an unexpected phone call.

Plus, by looking at your social pages as lead generation channels, you get to connect your marketing team and sales team which results in an effective approach that excels in nurturing leads and closing deals.

Conclusion

Prospects don’t respond to cold calls as they used to anymore and some even loathe receiving such calls. With the advancement of humanity, people have so many ways of engaging with a product or service before the purchase to build trust, that they simply prefer not to make buying decisions randomly.

With that in mind, we listed out these cold calling alternatives that can help you effortlessly generate leads and ultimately improve sales.

Implement them and watch your income rise

5 Ways to Earn Passive Income on Your Mobile Phone

5 Ways to Earn Passive Income on Your Mobile Phone

It’s no secret mobile phones are expensive. They’ve always been pricey items, but today’s demand is higher than ever and more technology is being integrated. As a result, Apple has announced its iPhone X, the most powerful iPhone to date, will cost about $1,000. With more people using their mobile devices than ever before to access the internet, it’s important to not just think about how to target these audiences when they hit your sites or online ads, but also how you can connect with them and offer money making/saving opportunities in the process.

Most people consider a mobile phone to be a necessity, but almost everyone agrees they can be pricey devices. Luckily, there are now legitimate ways make money using your mobile phone. Companies around the globe are paying people every hour of the day to test, review and watch media on their mobile phones. In fact, often times, such advertising is done through the use of gaming applications where the end user is simply being shown ads during a short period of time or to receive game credits. Sometimes such advertising can be used as monetization for the app developer, but other times they can be used to make money on the consumer end as well. These residual income resources can also be used to pay for iPhone X cases, screen protectors and other accessories that prevent costly damage to your device.

With all of this in mind, there are plenty of ways to start putting your time and mobile device to better use. Below are some of the most popular ways people are making passive income with their mobile phones.

Create Your Own App

Right now the app industry is exploding. Year-over-year the global mobile app revenue has grown substantially. The annual estimates are:

  • 2014 – $35 billion
  • 2015- $45 billion
  • 2016 – $58 billion
  • 2017 – $77 billion (predicted)

Businesses make money off of mobile apps, so why can’t you? If you’ve got an idea that would work well for an app you could have a million dollar venture on your hands. The best part is once you create the app a lot of the work is done and you can sit back while the downloads add up.

With today’s intuitive tools, it’s possible for just about anyone to create an app in less than 12 minutes. Software programs and online drag and drop platforms are making it possible for people without technical training to build their own apps. There’s no code to write and no need to hire a developer. You can choose to make it a paid app or build upsells right into the design to earn passive income.

Test Websites and Apps

Once apps and websites are built they have to be tested. Some companies do this internally, some hire an in-person focus group and others turn to the Internet. There are sites that connect companies with everyday consumers who are willing to test a website or app for a small fee.

The tests can run anywhere from a few minutes to an hour or more. Users are typically paid around $10 for short tests and $30-40 for tests that take closer to an hour. Each test is slightly different, but most companies will request that you verbalize your thoughts while you complete specified tasks. The mic on your phone captures the audio and your actions are recorded on the screen.

User Testing is one of the leading companies in this field. You can sign up to give user reviews on either your computer or your mobile phone. There are also a number of niche testing sites that serve specific industries. If you have experience in a particular industry there many be more chances to earn income through site and app testing.

Take Surveys

Companies also want to hear your opinion on other matters beyond their websites. Have you ever wondered how companies and organizations come up with survey statistics? Some groups gather information from their existing customer base, but often surveys extend much further.

Businesses will pay to know what you think or how you feel about a subject while in the research and development phase. They’ll pay to know your thoughts because it helps them gauge consumer interest and focus on products with the most demand. Sometimes surveys are also used to develop marketing messages that help sell products.

Shopping Rebates

There are a growing number of apps and websites that are designed to help shoppers get money back when they spend. It’s not earning money, per se, but it does help you lower your monthly expenses and save more.

Ebates is the clear frontrunner in terms of shopping rebate apps/sites. When you make a purchase on their website Ebates gets a commission from the product maker. But instead of keeping it all they give you a piece of the commission and send you a PayPal payment or check every quarter.

Keep in mind with some apps you’ll have to hold on to receipts in order to get your rebates. Some rebate apps work by scanning your receipt and looking for available cash back offers.

Watching Movies

Today, over 1 in 10 American adults solely use a mobile phone to access the Internet. That number is increasing largely due to bigger phone screens and better performance compared to years past. Now you can watch high definition videos on your phone without any issues, and you could get paid for it.

Viewers can earn up to a couple hundred dollars a month using apps like InboxDollars and SwagBucks. You’ll receive a playlist of short videos to watch and comment on. Netflix has also enlisted the help of “taggers” to watch movies and shows then create a list of tags (keywords) that are related for search purposes.

These are just a few ways people are earning passive income with their mobile phones. Use the ideas above to turn your phone from a monthly expense to a moneymaker!

Passive Income Apps: Fact or Fantasy?

Passive Income Apps: Fact or Fantasy?

The dream of residual income has been around for years, though many point to Tim Ferriss’s The Four Hour Work Week as the work that really made this idea mainstream. While finding truly passive income is going to be hard to do, and usually is a very small amount of actual compensation, there are some options out there that can start opening those doors. Passive income apps tend to be relatively low paying but if you’re getting paid for things you’re going to do anyway, then why not earn something from it?

 One important thing to do is set realistic expectations. If you don’t have to do much work for the payout, then you can safely assume the company (app) can’t afford to pay out all that much. You can have multiple passive income apps going at once and still only be looking at a couple handfuls of catch or gift cards a year.

Still, that’s much better than nothing. While some of these are truly hands-off, it’s only important to note that most are not true passive income where no work at all needs to be done. These often require a base level or low amount of work in order to get those payments. The best way to make many of these apps as low work as possible is to find apps that pay you to do those things you were going to do every single day anyway.

Information Collecting Apps

big data representation

The most common style of passive income app from your smartphone that is actually going to be passive in nature will be an information collecting apps. These apps take a look at what apps you use, how often you hit up social media, what games you play, what websites you visit, those sorts of things. That information can be incredibly valuable to marketing companies.

At first glance this can be concerning. Do you really want an app on your phone that is collecting information? The good news is that these do not collect sensitive information like passwords or usernames. It absolutely is not acceptable for any app to record information like that much less share it. These apps are looking at habits and use, not sensitive information.

Information collecting apps are often going to be the apps for money making that most closely meet those standards of being a passive income app. Whether or not you’re comfortable with the tracking of your behavior is a decision each individual has to make for themselves. However, if you don’t care who knows the games you play, the social media sites you waste time on, or the websites you visit, then consider these apps to start building some residual income off of your phone.

Nielsen Computer & Mobile Panel

Nielsen is a name that most people would recognize. Believe it or not, this is related to the old Nielsen Ratings that were at one time used to determine which shows were most popular versus those that weren’t. Nielsen also offers mobile panel services where it gathers information for major brands and corporations to help them make smarter decisions when it comes to marketing.

The Nielsen Mobile Panel awards points over the course of a year that can then be exchanged for gift cards. The selection of available cards is actually excellent with many very popular brands being offered. Amazon, Target, and Starbucks are just a few of the most popular options available but there are many more. If you have the Nielsen mobile panel on your phone throughout the year then you are likely to earn around $50 worth of gift cards over 12 months. Not too shabby, and one of the best passive income apps around.

Embee Meter CX

Embee Meter CX runs in the background of a phone and is searching for connectivity information to wireless networks wherever you happen to be. This is very passive in the sense that since it’s on in the background you don’t need to open a special browser or log in every time you use your phone. The amount earned isn’t going to be a lot. The average amount of money you earn is 8 to 10 cents a day. Although there have been some reports of earning up to 30 cents a day.

Payout occurs via PayPal once you hit the $5 mark. That’s right: Embee Meter CX is one of the few apps to make money that will actually allow you to earn cash instead of cards. This can be a great way to make truly passive income with your phone but there is one major caveat. While only some phone owners have reported this, in some cases this app seems to really slow down how fast your phone jumps online. There are many others who don’t experience this at all. However, it happens often enough that this might be an issue. Especially if you use the wireless abilities of your phone to jump online quite often.

Embee remains one of the best earn passive income apps because of the fact you actually earn money. You can’t underestimate the benefit of that.

MobileXpression

This works the same way as Embee Meter CX. It runs in the background gathering data that is then valuable to mobile services and providers. It is worth noting that not every phone can run this app. You do actually need to be approved before your smartphone can download this program and start earning.

One major difference is that Embee pays in cash via PayPal while MobileXpression pays via gift cards. There is a sign up bonus if you’re approved. After a week of use you get a $5 Amazon gift card while the actual points can be used for major brands like Walmart, Amazon, and others. This is a good way to earn some gift cards, which does help you save money.

Cross Media Panel

Cross Media Panel collects data from your browsing habits. Basically, they want to know what websites you go to, how often you visit them, and how much time you spend on each. This type of data is used by many tech companies. The focus isn’t on personal data like your personal habits, but it’s collecting the general information on your online practices to bring that data together with that of other Cross Media Panel users to get a better picture of how the average smartphone user spends their time online.

The pay for this information collecting passive app can actually be pretty good. Especially compared to most phone apps offering any type of residual income. You get up to $156 a year once everything is added together. The first phone you register gets you $2 in bonus money. You get $1 a week per device after that, up to three. So basically you can make a straight $1-3 a week depending on how many devices you register.

The downside? The payment is done via electronic gift card. So you’re not getting a direct PayPal payment or anything like that. That is the one major drawback to this truly passive smartphone app.

Panel App

Panel App is an information collecting app that is a favorite of phone farming enthusiasts. Showing its versatility, Panel App can be used with either Android or IOS, which is definitely a plus. This is a very small earner. It’s ceiling is only $1 per month, but it is truly passive. This is in the background and you get your points everyday which can eventually add up and purchased via gift cards. Panel only gives two options for gift cards but fortunately they’re good ones: Walmart or Amazon.

While this has a ceiling of $12 per year, that’s still a truly passive $12 in free Walmart or Amazon stuff you could be enjoying from your phone.

Investment Apps

plants growing from coins

When someone talks about an investment app, they can mean a couple of different things. Investment apps that allow for the trading of stocks can be a great thing. Especially if you can do so without any fees. However, that’s not really a passive income app. A good investment app can help people get started with saving money for the long-term, but only a few apps also give you a way to earn extra money as well.

Acorns

Acorns is one of the best known investment apps out there, and for good reason. This is one of those apps that makes sure all those small purchases actually end up working for you. Acorns works by taking any purchase you make during the course of a month and rounding it up to the nearest dollar. The difference between the purchase cost and the next nearest dollar is then deposited into an account.

This allows you to set up an investment account, fund it through your everyday shopping or splurge spending, and then grows that account over time. That not only helps to create a safety net for retirement but when the investments make money over time, that’s passive income right into your retirement accounts. While this does require money to take advantage of it, this is a great way to help you budget while siphoning off small amounts to creating long-term passive income with your retirement account.

Clink

This isn’t a completely passive app, but it does make investment much easier. For many people the money is potentially there in the budget but the discipline doesn’t necessarily match. This app gives plenty of options for setting up a passive investment strategy that you can set the rules to early on. The suggested amount to set for automatic investment is $1 a day, but you can choose what you want to set automatic investments at.

Clink also allows setting a certain percentage of all transactions to be automatically invested. So you could choose to have 1%, 5%, or even 10% to be added onto all purchases, and that amount sent to your investment account. There is a $1 monthly fee for using Clink, so make sure this is an automated investment strategy you would actually use to make sure that charge is worth it.

Cashback Apps

Cashback apps are a bit of a cheat in the eyes of some people, but money you get back for purchase you’ve already made is about as residual as it gets. You shouldn’t start buying more to get cashback. That’s like charging more on a credit card to get the rewards. But if you are going to be spending some money through your smartphone anyway, why not use these apps to see what you can get back at the end of the month?

Rakuten

Rakuten is one of those popular cashback apps that you will find on pretty much any list of money making apps. This cashback app used to be called Ebates. Whether you’re looking for passive income apps, cashback apps, or anything in between, Rakuten is a name that continues to come up.

For good reason, as well. Rakuten users do their online shopping through the Rakuten platform and at the end of each month they get cash back for the shopping that they did. While this can sound a bit limiting, one of the major advantages that this app has is the fact that they are partnered with many huge merchants. If you can’t find what you want from Amazon, Walmart, or thousands of other partners…well congrats on the esoteric tastes?

Jokes aside, this is an easy way to still buy everything you were going to purchase anyway but then you get free money back at the end of the month. Without having to do anything extra. It’s worth noting that while you can’t connect a bank account with Rakuten, you can make money via PayPal or even by check. Payments are not every month but make once a quarter.

This is one of the most consistently effective apps to earn money back from shopping that you’ve already done.

Ibotta

Ibotta is mostly passive income. This app has you watch a few ads to unlock some special deals or offers, and then just go on with your normal grocery shopping. This can be used online or in person. Many times the deals are for common items like bread or eggs. There is a sign up bonus and most of the major grocery store chains are supported. On the negative side small independent grocers are generally not connected to this app and Publix is the really big grocery name that doesn’t support it as of this review.

You upload a picture of your receipt after shopping, and at the end of the month you get money back. Think of it as a combination of coupons and rebates that pays you every month once you reach the $20 cash out mark. This is an easy mark to hit and usually is done within a couple shopping trips.

Try Ibotta Right Here

Paribus

Paribus is another cashback app that focuses on seeing if you missed a sale. Ever buy something for full price and then see it go on sale the next day? Paribus is the app that constantly monitors online sales and compares prices to what you paid. It syncs with your email to watch purchases and scan receipts. When a lower price appears, the app negotiates a refund.

The difference they can get is then sent to you. Now you don’t have to worry about missing those day after sales anymore with Paribus on your side. The refund is made to the source of payment. That means you can even earn money to your bank account if you paid via debit card.

Other Passive Income Apps

There are a couple of passive income smartphone apps that don’t quite fit into the categories we’ve already gone over. There are two apps in particular that really stick out as being different but offering some residual income potential that you won’t want to overlook.

Swagbucks

Swagbucks is an interesting app because it has some parts of it that are relatively close to being passive in nature while there are other parts of it that require much more activity. Many people know about Swagbucks because it is well known as a survey site (I recommend skipping this part of it – it is often too much work for too little compensation), but it also offers a wide array of other options for making money.

For instance, there are payments for watching ads, shopping online, or even playing games on your smartphone. Each of these programs is going to be a bit different depending on which activity sounds the most like part of your everyday schedule.

Swagbucks local allows you to link a card and then earn points whenever you shop locally at participating scores. You basically get free points for supporting local businesses. You can also set Swagbucks Search as your search engine on your phone and you earn rewards for every search.

This can take a lot of time to rack up points but with plenty of options for how to do this, it is possible to reach payout for one or two gift cards a month. The sign up bonus and cash back offers are just a little bit of a cherry on top. There’s a reason Swagbucks is consistently seen as one of the best smartphone apps for earning money.

Try SwagBucks Right Here!

Sweatcoin

Sweatcoin is an interesting one as far as a passive app goes. With this app you get points or “sweatcoins” based on how many steps you walk in a day. Generally speaking, about 1,000 steps will equal one sweatcoin. Overtime these can be traded in for prizes or given enough time even possibly cash.

If you are thinking you’re going to make a fortune walking, think again. Like most passive income apps, sweatcoin doesn’t pay a lot. Even if you’re an absolute beast who walks 15 miles a day, you may take three to five years to get a $1,000 cash payout. Assuming that prize is still there three years from now. In other words, it wouldn’t be worth the hours upon hours of walking to get anything worthwhile.

However, if you’re like me and you tend to walk 5-7 miles a day or more anyway…why not start racking up those points? If you’re already taking the steps, why not get rewarded for that good habit over time? You get in shape and earn extra money over time for keeping those good habits.

Honeygain

Honeygain is an app that is a bit controversial among users. This passive income app is one of the more truly passive options that is on this list. Basically the app works by taking your unused internet and turning your phone, tablet, or other device into a “gateway” for data scientists. This ends up resulting in $1 for ever 10 GB of data used. On a very busy month some Honeygain users have reported earning $40 to $50. Payments are done through PayPal.

Obviously more geared towards people with unlimited (or very high monthly number) Internet use, this is a great option for some but ridiculous for others. It all depends on what your plan is for the device. It’s also worth noting that several people have complained that this can really slow down your ability to jump online with your smartphone. Sometimes in a seriously noticeable way. You’ll want to decide if that is a hassle that is worth it or not.

What to Look for in Passive Income Apps

100 dollar bill puzzle

We’ve already talked about how to make money on your phone. In that situation the far majority of the time that means apps that hook you up with the gig economy and allow for making moneys with side hustles. That being said, occasionally you do get those apps that give you a chance to make some truly residual income.

While you won’t be able to use all of your passive income apps together, many of these can be used together. That allows you to earn gift cards and a little bit of cash from just using your phone in ways that you would use them anyway.

What else should you look for in a good passive income app?

  • Easy setup: this shouldn’t be difficult to setup on your phone, tablet, or other device
  • Low maintenance – the less work you need to do, the more passive it is!
  • Does this app put any drag on your smartphone’s performance?
  • What are the sign-up bonuses being offered?
  • Can you use this in conjunction with other passive income apps?

If you find an app that hits all of these check marks, then there’s a good chance that you have a potential winner.

In Conclusion

Residual income is a great thing, but creating it is easier said than done. While there are several passive income apps that can help you start building up a few trickles of passive income, you’re not going to be retiring off any of these apps. Even using a combination of several of them is only going to get you so far. However, if you start earning gift cards and even a little money from doing things you would be doing even if you don’t get paid, that’s still getting you extra money that you wouldn’t otherwise have.

Why not take advantage of what these apps have to offer? Even just a little bit towards your next financial goal is better than nothing. With the smart use of a few of these quality passive income apps you can start having that extra free cash and gift cards start rolling in!

By Shane Dayton

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