Episode Summary – How to Monetize Your Online Business for Beginners
How to monetize your online business is often a first question asked by bloggers and other content creators. In this episode, I cover what critical pieces you need before monetization begins and how best to step into gaining an income from your content creation. I cover working with brands, affiliate programs and offer many more ideas on how you can turn your hard work into a benefit for you and your audience.
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Key Points – Monetizing your blog and other online content
- The first question new content creators often ask is, how can I monetize what I’m doing online? How can I make an income from this? How can I leave my job from this? Which is not the right question to be asking. Really the first steps are to lay a foundation for the monetization.
- A solid foundation includes a truly engaged audience, a solid understanding of who that audience is and what problem you can help them solve. Knowing what value you can bring and help your audience.
- Going back to the podcast on Persona’s, this work is critical for any monetization work you may want to do. Gender, income, location, interests etc are all key components when it comes to monetization.
- You can begin monetizing as a micro-influencer in many ways once your foundation is in place. Brands will want to know that your audience is their audience too.
- Trust with your audience is incredibly important when it comes to monetization. You need to develop that trust before you try to sell anything. No one likes a new friend who only wants to sell them something.
- There are many ways to monetize including offline and online beyond brand deals and affiliates.
Takeaway Quotes – How to Monetize Your Online Business for Beginners
“So again, and I think I’ve said this before when we talked about Instagram, do not buy followers or likes or other types of engagement. It’s very easy to see through that with your engagement numbers in your analytics. Engagement is far more important than the actual number of followers. So a person who has 20,000 followers may not have a very good engagement because they’re really not their followers.”
“If you’re just getting going, worry about your engagement and get your foundation right before you start trying to monetize your business. You can monetize your online content when you’re small once you have that engagement going and you know truly who it is you’re trying to provide value too.”
“Whatever way you decide to bring in that monetization, make sure it’s not self-serving. You want to be serving your community, be certain that whatever it is you choose to do will truly help your users because they’re the ones who are going to purchase from you and if you’re not helping them, there won’t be any sales.”
Resources – Ten Great Ways to Save Money
CJ Affiliate (formerly CJ Junction)
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