Continually creating content is important, and finding ways to aggressively pursue active income is what keeps most brands in business. Releasing new webinars, holding those coaching calls, and putting out YouTube videos can help attract new clients to you and provide them with valuable information that allows you to build your brand in turn.
Active income is great. Passive income is even better.
Passive income can be a little slower to start, though the ability to continually make money or attract customers without doing any extra active work aside from the initial investment is a massive opportunity. For busy business owners, passive income is one of the most effective ways to scale your business.
Finding the time to create passive income can be a challenge, which is why many businesses struggle to make it. Business transcription, however, can be the key, allowing you to re-purpose content so that you can turn one-time active income into long-term passive income.
Why Should I Repurpose Content?
Repurposing content allows you to take resources that you’ve already put a lot of time and effort into making and converting it into a new medium that can be used to reach new audience members, convert new leads, or even turn one time active income into passive income generating additional income.
Some people, for example, won’t want to pay $500 for a webinar, though they would happily pay $100 for an online course that covers the exact same information via transcripts. This course can be sold over and over again with a little marketing, and will continue to generate income without extra work moving forward.
Whether you’re using the repurposed content to generate leads or are selling it for a direct and immediate profit, we’re going to count this as passive income for the purpose of this post, as both will be key to scaling your business and maximizing profitability.
Why Transcription is Key
Wondering how transcription plays into all of this?
Repurposing often involves turning audio-formatted content and converting it into more text-based content, so transcription services will significantly speed up the process for you. If you’ve ever tried to transcribe even a two minute long video with a slightly faster talker, you can understand why outsourcing this task is so important.
Audio formatted content like webinars, coaching calls, and live videos are relatively easy to create, and for many creators it takes a lot longer to transcribe the videos than it does to make them.
Transcription, therefore, will give you written files containing everything discussed in the audio files so that you can easily turn it into content like ebooks, blog posts, and even paid courses. The ability to see the text written out and to search for the information you need instead of listening over and over to find that perfect way you phrased something will save you hours.
And with transcription services like ours saving you so much time (and time is often a enormous barrier for) it’s going to be significantly easier to find the time to convert the active income into resources that will benefit your business for a long time to come.
5 Different Ways to Convert Audio Files into Passive Income
If you’ve got content that includes audio files, there are so many different ways you can convert them into resources that can be sold for passive income or used to attract leads. Let’s take a look at five options that offer the smoothest and most effective transitions.
Turn Webinar Transcripts into Ebooks
Webinars are typically between thirty minutes to an hour long, and they’re packed full of information. In many cases, they’re making use of slide shows and have images that support the topic at hand, either featuring tutorials or examples.
Webinar transcripts– which often contain much more explanation and detail than the slideshows– are exceptional sources for ebooks covering the same topics. You can even use the images used in the webinar in the ebooks, too, and link out to any resources you mentioned.
Convert Industry Lectures into Whitepapers
Are you speaking at a conference or at a company? If so (and you’re legally within your rights to do so), you can often convert the lectures into persuasive whitepapers. Add in some statistics if you haven’t already, cite them well, and use those highly esoteric and industry-specific talks to create whitepapers that will set you apart within your niche.
Turn Coaching Calls into Paid Courses
If you take recordings of coaching calls, get the transcripts, and convert the basics into a paid course, you’re turning one-time active income into very, very profitable passive income. People will pay higher prices for courses than they often will for most other types of content, and at greater frequency.
Not only are you expanding your knowledge further– going from teaching one student at a time to potentially teaching hundreds or even thousands. You could make incredible income, too. For maximum success with the courses, create video courses, and have us help with the video transcripts, so you can offer those alongside the video content.
Want to sell more? Create a private Facebook group for members– current and past– and use it to promote future one-on-one coaching classes.
Make Your YouTube Videos into a Blog Posts
Informational and how-to content excels on YouTube. It also does exceptionally well in blog post format, too. Take the transcripts from a YouTube video, adapt it into a longer blog post, add in extra information (like a “best practices” or “examples” section) with a revamped intro, and you’ll be all set.
Embed the video in those how-to sections for maximum visibility, and use both to target different long-tail keywords so you can maximize traffic to your site.
Use Your Sales Calls to Create New Landing Pages
Are you regularly recording your sales calls? You should be recording every call and then sending them to us to transcribe for you, because they can be a goldmine of potential knowledge.
When you read transcripts of multiple calls at once, you’ll start to notice patterns and trends that you may not have before. You may notice, for example, that a large number of clients are excited about certain features or use cases of what you offer, or a majority seem to express concern about the same objections or pain points.
Maybe a meal subscription service, for example, would realize that it wasn’t only the simple recipes that their clients liked, but the fact that the customers didn’t need to shop or meal plan, either. Highlighting this on a landing page like the one below would be an excellent choice.
Use what you learn from those one-on-one sales calls to create new, high-converting landing pages that address all the questions and concerns that users are voicing over the phone. You can’t get that kind of feedback from an online click, though you can use it to convert those clicks into more leads and more sales, including (hopefully) for some of these new passive income projects you’ll be selling soon.
Tips to Keep in Mind When Repurposing Content
One mistake that a lot of brands make when repurposing content is that they don’t actually repurpose it; they simply drop the exact same script into a new format. While this is correct in theory, it’s important to actually convert the content into something new enough that it works as a separate entity from the original.
When repurposing, make sure to keep the three following tips in mind:
- Expand on what you already have. If you want to sell repurposed resources or to use them to attract leads, it’s going to be important to offer something new. Add in additional information, or go from a new angle. You want to make sure that your audience doesn’t feel like they’re watching the same thing on repeat. The only way to keep things pretty much the same is to advertise it as “Download our ebook, which details all the strategies we’ve discussed here.”
Even if the new resource has more information like links to valuable resources or more images or examples, that’ll do the trick.
- Adapt to the new medium. You can’t take a transcript from a coaching call and turn it into an online course. You’ll need to adapt to the medium, which means having an introduction to the class, talking to your students in more generic situations instead of giving advice one-on-one, and having stronger transitions than you’d have in a natural conversation.
It’s typically easiest to open a new document, and copy and paste specific parts of the transcript that you like to use in the right places instead of trying to revise an existing transcript. The only exception here is if you were sticking to a script in the first place. The time it takes to do this is worthwhile, and still much shorter than if you were starting completely from scratch.
- Market them separately. Ideally, you can use different versions of the same content to reach users at different stages of the digital sales funnel. An ebook or blog post might be more effective for users who have never heard of your brand, while their webinar or coaching call might be great options for upsells or re-engagement opportunities with current leads who need a push towards conversions. Keep this in mind when marketing these resources, showing each one to the audience most likely to convert.
Conclusion – turn one time active income into passive income
Whether you’re a single member entity trying to do everything yourself or you’re the head of a fully staffed marketing department, there’s a good chance that you’re so busy it seems impossible to take the focus away from active income and adding in something that takes a little longer to see a return on. Turn one time active income into passive income using a little more run way and give it time to build up. Oce it does it will be a runaway train of long term passive income for you.
Finding faster, streamlined ways to create more passive income will change that, and repurposing your best audio content will extend its lifespan significantly while giving you more resources to connect with larger portions of your target audience. Some are all about the podcasts, while others would much prefer an ebook. More resources means you’re able to find new ways to connect with your audience, no matter what they prefer and make more money in the process.
Interested in using transcription to turn one time active income into passive income and into invaluable resources for the future? Check out our general transcription services and what we can do for you here.