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How to Monetize Your Online Community The Right Way

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Learn smart ways to monetize your online community. Discover actions you can take to reap financial benefits off of your site.

Veröffentlicht in: Marketing
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How to Monetize Your Online Community The Right Way

  1. 1. How to Monetize Your Online Community The Right Way
  2. 2. Building an online community is a tremendous effort in and of itself. However, once you accomplish it, the result can be very rewarding.
  3. 3. It feels really amazing to win a following behind a theme or an idea that’s important to you. It’s empowering to know that what you believe in also resonates strongly with a wider audience.
  4. 4. An important aspect of an online community is your leadership which can take up many forms.
  5. 5. You can be an active member, moderate it, or introduce new tech and organizational solutions.
  6. 6. Long-term success requires a lot of planning. You need to have a growth strategy in place and, importantly, a platform for members to come together and interact.
  7. 7. Let’s take a look at some of the strategies you can employ to monetize an online community and not make people hate your guts for it.
  8. 8. Paid membership Create a new tier of value and introduce a paywall, or a similar mechanism, to charge for accessing it. The number of people who will rush to pay may not be that great at first, but you’ll be able to pinpoint the most loyal members and possibly reward them in some way.
  9. 9. Sponsored content Work with businesses that may be interested in targeting your community on developing the most fitting, appropriate content pieces including product promotions, blog posts, forum threads, videos, social media posts, etc. and charge a fee for publishing them.
  10. 10. Display ads Devote certain areas of your website layout to banners that will ideally show ads strictly related to you membership profile. It’s crucial for them to be non- invasive and relevant to the audience, as otherwise they will quickly become annoying.
  11. 11. Merchandise A great way for the most diehard fans to showcase their support. They’ll proudly wear your merch to signal they’re a part of something important, a part of an exclusive club. There’s plenty of ways to go about selling merch, a dedicated shop section being one of them.
  12. 12. Trading area Site members can buy/sell stuff in a secure area of the site and you can claim a fee for every transaction. This may be difficult to set up, depending on the means and budget you have at your disposal, but the investment may be worth it, as this will surely generate that extra traffic.
  13. 13. eBooks How much do you value your knowledge and how much will your community members be willing to pay for it? Sure, you can sell a copy at a $1 but will you sell enough to get a return on the time and work you invested? The good news is that once the ebook is out, the sales process can be self-maintained so you’ll be generating revenue while you sleep.
  14. 14. Profile customization There’s a lot you can offer in exchange for a fee. Badges, avatars, distinct username color, no post per day limit, ghost mode, direct messaging, the options abound.
  15. 15. Contest You can charge a tiny entry fee, as well as get a business you’ve already worked with involved in terms of sponsoring the prize. If there’s an entry fee, it’s better be worth it. Don’t come up with no corny stuff that will make the audience scoff.
  16. 16. Paid course People pay for school, so why not pay for a quality, well-targeted course online? Importantly though, you’ll need a strong personal brand or a track record of success in the given field to attract students.
  17. 17. Paid newsletter subscription You have to make sure there’s AMAZING value inside if you’re going to continuously charge people for it. Oh, and since we’re at it, cancellation has to be easy and possible anytime.
  18. 18. Ask for a donation Asking for a donation in exchange for the effort you put in is no shame. In 2019 people are well aware of this. Before you add a PayPal button on your site, or set up a Patreon, deliver on your part. Provide excellent content people will love, and they’ll be glad to share a penny with you.
  19. 19. If you wish to monetize your online community, it has to include a core of loyal fans. 100k anonymous visitors will not automatically translate into revenue.
  20. 20. Community members share the same values, tastes, aspirations, passions – it’s a powerful force to harness. Leverage user data to create exceptional experience for them worth the penny.
  21. 21. Be real, be yourself, be authentic, be someone people can relate to. Develop strategies that fit your member profile best. Figure out what’s important to them and what they expect. Good luck, go get that buck!
  22. 22. Brought to you by www.chatwee.com