As you know, I have multiple sources of income streams online. Some I talk about a lot, like Squidoo and Zazzle, because I spend a lot of time building up those income streams. But other sources of passive income I barely mention, yet they still are quietly working for me in the background, slowly earning more and more passive income.
I keep an ongoing excel spreadsheet of my main income sources and fill in how much I made each day (except for Squidoo, which I just wait until I’m paid to see how much I earned). Today, when I logged into my Mr Rebates account to see how much I’ve made in the last few days, I was pleasantly surprised to see that I’ve earned $157.21 in 3 days in referral commissions.
Mr Rebates gives free cash back rebates for online shopping when you go to their website first and click through to the merchant. They get the money from the merchant in the form of a commission for sending customers to their stores, then Mr Rebates splits that commission with the shopper, giving it to them as a cash back bonus. If you are a member of Mr Rebates (free to join), you can also refer other people to Mr Rebates through your referral link. When they sign up, any time the new member earns cash back, so do you, because you referred them. If the new member makes a $100 purchase and earns a $10 cash back rebate, then you would earn a $2.00 referral bonus. Your bonus equals 20% of their cash back. They still get their whole cash back whether someone referred them or not. Mr Rebates pays the 20% out of their pocket.
I love seeing these big cash back referral bonuses!
In the last 3 days, I’ve gotten $157.21 in referral bonuses, which means my shoppers I referred collected a total of $786.05 in cash back rebates over the last few days! Isn’t that great! I’ve saved people $786.05 on their online shopping! So how do I get such high referral bonuses?
You’ll notice that there’s three different transactions worth quite a bit of money. One for $65.70, one for $13.99, and one for $58.06. These are my referral commissions, which means that the shopper got rebates of $328.50, $69.95, and $290.30. Within your account you can click on the “Referral 20% Buy Bonus” for each transaction and it will tell you the cash back amount the shopper received. From looking at that I can determine that in all three of these cases the shopper got a 20% cash back rebate on their purchase, making their purchases large amounts of $1642.50, $349.75, and $1451.50. Now, there’s not many stores on Mr Rebates that offer a 20% cash back rebate, but one of them that does is 4inkjets, which offers replacement printer ink. And judging by the size of the order amounts, I’m assuming that it’s some type of small business making these orders, not a stay at home mom ordering diapers on the internet.
If my assumption is right, that these orders are coming from a small business, then I wouldn’t it be smart to try to market to small businesses? That’s exactly what I have been doing. I advertise on Backpage.com in the business services section. I place simple adds for “Free Cash Back” or “Small Business Cash Back” and use their auto-repost option to have my ad automatically reposted every 3 days for 26 times for only $3.00. That means for $3.00 they will run an ad once every 3 days for a little over 2 months. I’m not sure exactly how many new members I have signed up this way, because Mr Rebates doesn’t have any way to add a tracking code, but I’m think some of these high dollar orders have resulted. And if I can get just one new person to sign up from my $3.00 ad campaign, then I will most likely make more money than I’ve spent. And hopefully I’ll get a small business to sign up who routinely orders supplies online, like printer ink, and they will collect cash back rebates on their orders, and I’ll get a referral bonus too.
You could also talk to people who you know who run small businesses and see if they order anything online. Small businesses are always looking for ways to cut costs and if you can get even one small business signed up who have repeat online orders, you could easily make a few hundred dollars a month just from their orders. And you are saving them money, which makes it easy to get people signed up. Who doesn’t want free money? If you haven’t signed up for Mr Rebates yet, what are you waiting for? It’s free. They give you a $5 bonus just for joining. And you can save money on anything you order online, as well as get referral bonuses for telling others about it.