Building an online audience opens the door for several monetization opportunities.
Here are 7 ways to monetize your audience:
Here are 7 ways to monetize your audience:
1. Affiliate Marketing:
Sell other peoples products & get paid a commission on each sale.
The downside is you get paid a % of the sale instead of the full sale price.
The beauty is you don't have to create the product or fulfill the service.
Sell other peoples products & get paid a commission on each sale.
The downside is you get paid a % of the sale instead of the full sale price.
The beauty is you don't have to create the product or fulfill the service.
2. Sell a Course:
Create your own digital product. Provide information for others to learn about your area of expertise.
The downside is you have to do the work to put it together.
The Upside is you do the work to make the course once & continue to get paid the full sale price!
Create your own digital product. Provide information for others to learn about your area of expertise.
The downside is you have to do the work to put it together.
The Upside is you do the work to make the course once & continue to get paid the full sale price!
3. Consulting/Coaching:
Instead of packaging your expertise into a course, work with people 1 on 1.
Con: This is harder to scale as you have to be present.
Pro: This brings a more personal connection to better help people based on their situation. Can also charge more.
Instead of packaging your expertise into a course, work with people 1 on 1.
Con: This is harder to scale as you have to be present.
Pro: This brings a more personal connection to better help people based on their situation. Can also charge more.
4. Paid Advertisements:
As you grow your brand in your specific niche, people will pay to use your audience for exposure for their brand.
Con: Some people think it can wash out their audience. (SHOULD require a good amount of due diligence)
Pro: Easy way to get paid
As you grow your brand in your specific niche, people will pay to use your audience for exposure for their brand.
Con: Some people think it can wash out their audience. (SHOULD require a good amount of due diligence)
Pro: Easy way to get paid
5. Partnerships:
Some brands will want a longer term paid deal than a single ad. This is where a partnership comes in.
Con: Get locked in with a brand
Pro: Larger check than single paid ad
Some brands will want a longer term paid deal than a single ad. This is where a partnership comes in.
Con: Get locked in with a brand
Pro: Larger check than single paid ad
6. Paid Newsletter:
Maybe the course route isn't for you, but you still have lots of insight and wisdom to offer. A paid newsletter may be the route for you!
Con: Have to continue to create content. Churn rate on subscribers.
Pro: Monthly revenue. Easy to update with new info.
Maybe the course route isn't for you, but you still have lots of insight and wisdom to offer. A paid newsletter may be the route for you!
Con: Have to continue to create content. Churn rate on subscribers.
Pro: Monthly revenue. Easy to update with new info.
7. Sell a physical product:
Clothing brand, hair products, sports memorabilia.
Con: Have to store inventory and deal with shipping.
Pro: A great way to sell physical products without having to have an in person store.
Clothing brand, hair products, sports memorabilia.
Con: Have to store inventory and deal with shipping.
Pro: A great way to sell physical products without having to have an in person store.
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