Connect with us

AFFILIATE MARKETING

What You Need to Know About Content Monetization

Published

on

What You Need to Know About Content Monetization

Content creation has become a cash cow for many individuals, many of whom we know and follow. Think Jimmy Donaldson, aka MrBeast and his massive YouTube channel – or Charli D’Amelio, the highest-earning TikToker of 2022.

Now, while the big numbers may seem out of reach for many people, there are many ways to monetize your content, even without a large audience. In this article, we will explore how creators can monetize their content online and the steps they can take to be successful.

What is content monetization?

Content monetization is the process of earning income from content that you have created. This can include video/audio streaming, podcasting, blogging, and more. Content monetization allows you to create what you want and do what you love while also earning money. And because content creation allows you to reach a global audience, monetization means you can make money from people and brands worldwide.

Who can monetize their content?

Basically, anyone – but that’s not much of an answer.

Jay Clouse breaks the creator types we encounter nowadays into three buckets – creator-educators, creator-entertainers, and creator-edutainers.

Creator-educators (like James Clear) focus on content that teaches, creator-entertainers (like Emma Chamberlain) help people pass the time without necessarily teaching anything, and creator-edutainers strike a balance by teaching with an easy-to-consume format.

A great example of the latter is Tanner Leatherstein, who takes luxury items (often bags) apart on social media to show consumers what they’re getting for the amount they pay. While his content does educate viewers, most people tend to highlight in his comments that they couldn’t afford the bags anyway but watch because they’re curious. And they wouldn’t keep watching if the content wasn’t entertaining.

@tanner.leatherstein

Louis Vuitton, Felicie Pochette, is it worth it? #louisvuitton #lv #feliciepochette #lvfel #fashionreview #leatherreview #tannerleatherstein #leathertok #leathertiktok #epileather #lvbag #baglovers #bagtok #fashion #fashiontok #luxurytok #bagunboxing #bagcollection #luxurybag #leatherbag #louisvuittonbag #lvtiktok

♬ original sound – Tanner Leatherstein

I would like to add one more bucket that’s been mentioned in my conversations with creators: creator-entrepreneurs. As defined by The Tilt, these are people who “create content to build a long-term, successful business (not as a hobby) with plans to build a loyal audience and then monetize that audience over time.”

5 ways to monetize your content

There are many ways in which creators can monetize their content online. Let’s explore some of the most popular methods.

Platforms and services

This category covers every platform you don’t own that can generate revenue for you as a creator. The most popular is YouTube, which gives creators a portion of the income generated from ads. Creators use their videos to gain views and subscribers and monetize them with advertisements and sponsorships. Ads are a great way for creators to make money, as they are paid per video view or per click on an ad. Platforms like TikTok and Instagram are harder to monetize because its harder to place ads on short videos, and all other forms of advertisement are more complex to navigate.  

YouTube also offers sponsorship and crowdfunding options, providing creators with additional ways to monetize their content.

Twitch is another popular platform for creators to monetize their content. With Twitch, creators stream live videos of themselves and then monetize them through subscription-based ads and donations.  Additionally, creators can use Twitch’s affiliate marketing program to promote products and services.

Patreon is a crowdfunding platform that allows creators to monetize their content. Creators can create a page on Patreon and allow their fans to support them financially through donations and recurring payments. In addition, Patreon allows creators to offer exclusive content to creators, such as video tutorials or even custom content for the Sims 4.

Last but not least, a popular option for writers is Substack, a newsletter-based platform that allows creators to monetize their content. By publishing their newsletters on Substack, creators can earn money from subscriptions and sponsorships. Additionally, Substack offers a “Pro” subscription option, which gives creators access to additional features such as customizable templates and advanced analytics.

You should also think big when it comes to the platforms where you publish your content. You’d be surprised at where you can get paid. For example, audio platforms like Spotify and its podcasting arm Anchor pay creators for their original content. So if you create original music, put it up on Spotify and earn money from streams. If you have a podcast and you publish through Anchor, you can make money from ads published within your podcast. The possibilities are endless.

Sell Something

In addition to the platforms and services mentioned above, creators can monetize their content by selling their own products. This can include physical items, such as t-shirts or mugs, or digital products, such as e-books or tutorials. With platforms like Shopify, creators can easily set up an online store and sell their products to a global audience.

This option is one of the most secure as it doesn’t require a large audience – but an engaged one. Following the idea of 1,000 True fans popularized by Kevin Kelly, if 1,000 people are willing to give you $100 for a product, you can make more money than most people make in their 9-5 within a month or even less. Even better is that if you put out a quality product, they will refer you to others, buy future products.

Steph Smith, who we interviewed for our series on personal branding Social Proof, is an example of this in practice. While she doesn’t have the largest audience as a creator, she has a highly engaged audience. Her book, Doing Content Right, which costs $150 has sold 4,519  times since its release in 2020.

The book isn’t for everyone, as it’s focused on a specific niche of content marketers and creators, but its 5-star rating and great reception have equaled consistent sales well after its launch.

Affiliate Marketing

Affiliate marketing is another popular way for creators to monetize their content. Creators partner with companies to promote and sell their products. In return, they receive a commission for each sale made through affiliate links. This is a great way to monetize their content without creating any product. Popular sites for finding affiliate links include:

@the.leap

@jadeswildparty shares her top tips for making $$$ via affiliate links 💸 #affiliatelinks #creatortips #influencertips

♬ Darling – Trees and Lucy

For more potential affiliate websites and a detailed breakdown of each one, check out this article.

✍🏽

Hack: Sign up for Start Page to direct people to all your top affiliate links.

Licensing your content

Creators can also make money by licensing their content. Through licensing, creators can sell the rights to their content to businesses and organizations who want to use it for their own purposes.

For example, a creator can license the rights to a TikTok to an advertising agency, which will then use the video in their campaign for a given period and price until the rights revert to the creator. This is a great way to make money from your content while still retaining the rights to it so that you can keep benefiting from your great work.

@ginagaleoto

I’m sharing everything I know about attracting & negotiating high-paying brand partnerships in my upcoming Webinar series in just a few weeks! You can sign up for announcements about when YOU can register via my Stan Store! #brandcollaborations #ugc #ugccreato #ugcrates #ugcprices #ugctips2023 #stanfam #brandnegotiation #ugcnegotiation #ugcnegotiationtips #tipsforugccreators #contentcreatorsoftiktok

♬ original sound – Gina| content creation mentor

🤝

Here’s a great beginner’s guide to licensing your content. It’s also vital that you engage the services of a professional wherever possible, so you’re getting the best deal.

Brand deals are one of the more well-known methods of content monetization. Creators make money by partnering with brands to promote their products and services. These partnerships happen in different ways, such as sponsored posts, giveaways, or paid endorsements. By partnering with brands, creators can profit from their content without creating their own products.

It can be difficult to navigate getting brand deals and sponsorships, especially if you don’t have much experience. Thankfully, websites like FYPM and Clara for Creators exist to keep partnerships transparent by letting creators publish their rates and experiences with brands anonymously. Sharing this information helps newer creators who may not know how to price their content.

@claraforcreators

How much do top creators make? 👀 💰

♬ Made You Look – Meghan Trainor

Best practices for monetizing content

Now that we have explored some ways in which creators can monetize their content, let’s discuss some best practices to help creators succeed.

  1. Know Your Audience: The first step to successfully monetizing your content is understanding your audience. What do they come to you for? What would they be willing to pay for? These are just some of the questions vital to understanding what you will do that will resonate with them. Of course, the last thing you want to do is damage the trust you’ve built through your content by partnering with the wrong brand or releasing the wrong product. An example is Emma Chamberlain’s 2018 attempt to launch a clothing line. The line was criticized for being overpriced (which wasn’t a good fit for her teenage audience) and lacking size inclusivity. Emma’s strategy has since improved – her company Chamberlain Coffee resonates much better with her audience.
  2. Know Your Metrics: Develop a deep understanding of your industry – what other creators are doing, what brands want from partnerships, and what unique proposition you have to offer. This relies heavily on being able to communicate your metrics. Your ability to dig into your YouTube analytics or the latest numbers behind your ebook launch will go a long way to helping you prove why people should give you their money. Understanding your metrics can also help you refine your content strategy and create content that resonates with your audience.
  3. Know Your Worth: Most importantly, no matter how big or small you are, when you start exploring content monetization, you need to know your worth. Once you’ve figured out how to deliver consistent, quality, and engaging content, you have to determine what price makes investing the time and effort it takes to create worth it. And you also need to decide what you’ll turn down in terms of partnerships and sponsorships if the economics don’t make sense to you.

Tess Barclay, a TikTok creator, is an excellent example of these best practices in action. This creator understands the metrics behind their content and has diversified their income streams, implementing everything from brand deals to podcasts to consulting.

@tess.barclay

My update media kit, dates & tips! 💕 day 25/100 days to self employed ✨ link in my bio to check out the membership and join the community! #mediakit #branddealtips #contenttips #contentcreation #contentcreationtips #microinfluencertips #microinfluencertiktok #nanoinfluencer media kit template brand deal rates rate card content creation tips #greenscreen

♬ original sound – TESS BARCLAY ✨💕⚡️

Set up a system for generating quality content in Buffer

Consistency is vital when it comes to monetizing your content. Try to post content regularly and stick to a schedule that works for you. This will ensure that you stay top-of-mind with your audience. Set up a system for generating quality content by putting your ideas, drafts, and publishable content in one place – Buffer. Get started today!



Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

AFFILIATE MARKETING

Invest in a Lifetime of Learning for $100

Published

on

Invest in a Lifetime of Learning for $100

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

What is Skill Success?

Skill Success is an online learning platform with more than 4,000 online course videos on a wide variety of topics. Entrepreneurs looking to grow their understanding of given industries or fields can come here for video courses on business, finance, technology, cooking, music, and so much more.

How does Skill Success approach learning differently?

Skill Success makes learning new topics immersive and fun with gamified learning. By giving users incentives like earning badges and showcasing achievements, Skill Success keeps making progress fun and motivating.

Are the courses easy to access?

Skill Success courses are accessible from any device, anywhere, and at any time. All that’s needed to log in and watch a video course on a given topic is a reliable internet connection. The one-time payment for a lifetime membership makes it easy to revisit when you need it without any extra worry or planning.

What if I get tired of the Skill Success course catalog?

With thousands of courses on a variety of topics, it would take a lot of time to review, let alone get tired of the content available. At the same time, Skill Success also continuously updates its catalog with new options so that you always have something fresh to learn.

Is Skill Success recommended?

It is. Skill Success has been recommended by PCMag, Entrepreneur, and CNN, among other notable names.

Invest in a lifetime of learning with this lifetime membership to Skill Success, which is on sale for only $99.99 (reg. $540), the best price for this subscription online.

StackSocial prices subject to change.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

AFFILIATE MARKETING

The 7-Step ChatGPT Formula for Peak Productivity and Profit

Published

on

The 7-Step ChatGPT Formula for Peak Productivity and Profit

Tackle AI’s toughest questions with Ben Angel, mapping the business terrain for 20 years. Master the AI landscape and reach peak productivity and profits with insights from his latest work, “The Wolf is at The Door — How to Survive and Thrive in an AI-Driven World.” Click here to download your ‘Free AI Success Kit‘ and get your free chapter from his latest book today.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

AFFILIATE MARKETING

How I Hit $100 Million in Annual Revenue By Being More Transparent

Published

on

How I Hit $100 Million in Annual Revenue By Being More Transparent

Opinions expressed by Entrepreneur contributors are their own.

It’s a common nightmare — you’re walking through a busy hallway or giving a presentation only to look down and find yourself completely naked.

We’re inherently fearful of revealing too much about ourselves, and as an entrepreneur, this likely extends to your business as well.

But based on growing my own business from nothing to over $100 million in annual revenue, I can tell you less is not more when it comes to business transparency — more is more. Being open builds trust, and trust fosters customers and relationships in droves. The only exception is not giving away your trade secrets to competitors.

Here are three effective ways to build trust with clients and prospects by being more transparent (without leaving you feeling nightmarishly over-exposed).

Related: How Transparency In Business Leads to Customer Growth and Loyalty

1. Increase sales by 18% or more by increasing your Google reviews

Nearly everyone reads reviews before purchasing. One study found a whopping 93% of people read reviews before making a purchase, and on average, reviews produce an 18% uplift in sales. In today’s online landscape, people put almost as much weight on a Google review as they do on a personal recommendation.

The best way to increase your reviews is to simply ask! According to research, 70% of consumers will leave a review for a business when asked.

About four years ago, we had 486 reviews after servicing more than 90,000 clients. We started using Podium to send out texts or emails — based on customer preference — asking to leave a review on Google, the Better Business Bureau and Trustpilot.

By May 2024, we’d accumulated 2,312 five-star reviews, an increase of 375%. Keep in mind that our account managers have been very diligent about sending review requests to clients and only ask the clients most likely to give positive responses.

Another good way to increase reviews is to automate postcards at the close of an order thanking someone for their business and encouraging them to leave a review. A physical mailer is likely more effective than an email — one study that surveyed 1,200 consumers found that 76% trusted direct mail the most as opposed to online methods.

You might be wondering, “What about the negative reviews?” You’re always going to have a handful of bad reviews, but people look at the ratio of good vs. bad. If you have far more five-star reviews than one-star reviews, they’ll disregard the negative ones and assume it’s not the norm.

2. Improve lead generation by 105% by sharing your clients’ success stories

Sharing real marketing results has always been a priority for my business, PostcardMania. We currently have 944 marketing case studies and 139 video case studies that document real people sharing campaign specifics that led to more leads, revenue and new customers for their businesses.

We share these case studies far and wide with prospects via email and postcards in the mail to increase trust. But more recently, we began incorporating these stories into video social media ads. During a recent earnings call by Meta, CEO Mark Zuckerberg said 50% of all people’s time on Facebook and Instagram is spent watching videos, so naturally, we went that direction to gain more eyes on our services.

We put our 139 video case studies — real business owners talking about their successful campaigns — to work for us on Facebook and Instagram.

As a result, our social media leads doubled. In 2022, our average number of social media leads per week was 174, and then in 2023, the average lead count increased to 356 a week! That’s a 105% increase.

Of course, our use of social media in this case is part of a larger multi-channel marketing strategy that ties direct mail and digital ads together, so I suggest a similar approach if you want to see the same results (we’ve actually packaged our successful approach into a single affordable marketing bundle called Everywhere Small Business due to high demand from our clients to replicate this method). Campaigns that uniquely combine print and digital advertising using hyper-targeted mailing lists and lookalike audiences have been proven to work time and time again, so I highly recommend them.

It doesn’t matter what industry you are in, your customers’ success stories can be compiled and incorporated into your marketing plan to grow your customer base.

Related: How Problem-Solving Case Studies Help You Market Your Business

3. Convert prospects faster by dropping the velvet rope and inviting them in

Being transparent online will help build a positive image of your brand and bring in more customers — but you can also take this one step further and let prospects visit your business and interact with your products or services in person. One report revealed that 79% of customers want brands to go above and beyond what they are required to reveal and give more information, with two-thirds of them saying they would switch brands for more in-depth data.

At PostcardMania, we welcome clients to visit us and take a tour of our in-house printing facility. We also have a marketing conference twice a year where clients can meet their marketing consultants face-to-face and learn more about our business behind the scenes. These clients often end up being some of our best and longest-lasting relationships! You can do the same by hosting an event and opening your doors to the public. It doesn’t have to be a conference — you can start small with something as simple as a night of snacks and entertainment.

Related: 3 Ways to Personalize Your Marketing for Higher Engagement

Free samples are also a great way to show customers exactly what they are getting before they make a commitment. This doesn’t always apply to every business, but you can try to find a way to allow prospects to interact with your product or service on a deeper, more physical level.

Incorporate any of these tactics, and you’ll show prospects the most authentic side of you and your business. Believe me when I say trading in your fears about being super transparent for bold authenticity will reap real rewards in long-term growth and customer loyalty.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending