In this post, We’ll summarize 8 tactics for content monetization so that you can easily apply these tactics to your own content. There are 8 number of ways to generate money as a content creator. We are trying to summarize tactics and provide ways to implement them.
First things first, if you want to become a good content creator and make money from it, you must create. Creating regularly is a good start. How to create, how to optimize, how to choose the best topic etc. will not be covered in this post, but we may cover it in the future.
Next, it’s key to have fans and followers with genuine connections. If you already have them, then you’re all set. If not, this is necessary — without an audience to consume your content, you may as well not have content.
Once the above two steps are completed, it’s time to create a thriving business and receive money for all your hard work.
According to Creator Monetization Report, 28% of creators who create blog posts, videos, and podcasts don’t make money. However, for some of the creators they studied (29%), it’s their main source of revenue. For those creators who actually make money from their content, advertising is the number-one way they make that money (50%), followed by selling their own products (46%) and last by consulting/services (42%).
See the chart below for the various ways creators monetize:
When asked to select the single method that makes them the most money, creators indicated that advertising was the most lucrative source of income. This was followed closely by consulting and services.
Since the focus of this post is to get compensated for your content work, I try to provide some high-level background as well as action items for each tactic.
“Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services.” — Wikipedia
There are two ways to sell ads on your blog. One is to do it yourself, and the other is to join an ad network. It’s difficult to do this on your own, and if you’re new in this area, We suggest to join an ad network to simplify it.
Do it yourself:
Join Ad Networks:
One of the key points is putting the relevant ads to your website. Which increase your potential earnings and less bothering your audience because people don’t mind ads so much when they are the ones who benefit from them.
Here’s a list of ad networks to check out:
You have already shown your knowledge in some fields by creating content and as a result you’ve inspired people. On the other hand, while people are watching, reading or listening to your content, they may have questions in their mind or want to learn more about this topic. Giving an opportunity for them to reach you in a 1:1 session, would be beneficial for both you and them.
When you are asked to become a consultant/mentor, it is normal to feel anxious and feel pressure because a lot of questions come to your head like “What do they need from me? What if I am not that qualified? What if I give them guidance that does not get them to where they want to be?” But the good part of being both a content creator and a consultant is that your audience already knows you :) so no need to worry.
Here are some steps for starting a consulting business:
There are a lot of services out there, and I’am sure you can find something. First of all, find services that you can offer that are also in-demand. For example, go to fiverr.com or check out “The $100 Startup.” (A book that I love very much.) Let’s break it down in steps:
Bonus tip: Read The $100 Startup book :)
Depending on what you’re selling, the tactics you choose may be different. On the other hand, no matter which product you plan to sell, start small and then go big. Always follow the agile principles.
About 2 years ago, my wife and I started a Kickstarter campaign. Unfortunately, we didn’t hit our goal, so maybe take my advice with a grain of salt. Although we didn’t hit our goal, you can learn from every experience. We tried to build a community about storytelling on Instagram. Our was a little different, we first built the product and then tried to create an audience, this may have impacted our success. I assume you already have an audience so you’re way ahead of us.
Since creating a physical product usually comes with huge investment and risks, I suggest you create digital products. These are the best place to get started since they typically only require your time and little to no money. Ideas for digital products that you can sell might include:
Affiliate Marketing is promoting products and services through an affiliate network and earning a commission for each sale. Basically, the product or service owner shares the revenue with the one who promotes and sells it.
If you already promote some products or services in your content, first try to find relevant affiliate networks that pay commission for them. if not try to find a product or services which is related to your content and start creating content around these and put the affiliate link in your content.
Here are some common affiliate networks but you can find an affiliate program in your niche
Bonus Hint: If you sell a product on your website, you can think about starting your own affiliate program as well.
Brand sponsorship is a marketing strategy in which a brand supporting events, persons or organizations. They have been doing for a long time in movies and music videos to promote their products/services.
With the raising of new media like Youtube, Instagram, brands want to promote their products/services there as well. You may think, I am not the one who can be the influencer but here is the thing — brands are realized that promoting by ordinary people is more powerful Because these micro-influencers seem like real friends. When I am purchasing a product, I trust my best friend more than Kim.
Or join the existing marketplace for influencer marketing like:
“Patreon is a membership platform that makes it easy for creators to get paid. For creators, Patreon is a way to get paid for creating the things you’re already creating (webcomics, videos, songs, whatevs). Fans pay a few bucks per month OR per post you release, and then you get paid every month, or every time you release something new.” — Patreon.
There are some alternatives to the Patreon you may want to check:
There are a lot of people out there who can benefit from your knowledge. One way to engage with them is public speaking and while doing this you can also get paid. Here are some suggested steps to becoming a paid speaker.
Just like selling photographs or art, you can sell your content to content marketers. Content marketers look to attract more people, grow an audience and increase SEO. In order to achieve this, content is required. Sometimes licensing content is more effective than writing in-house or working with a freelancer.
There can be 2 ways of content licensing: 1. Traffic redirecting and 2. Reprinting content. ( Don’t forget to set canonical tags for duplicate content). There are also websites out there to help you find content licensing options and help with the technical details.
Bonus tip: Do not forget to add which license type are you using for your content. You can check the Creative Commons Organization which provides different types of licenses that you can choose the one that fits best for you.
Thanks for reading! We tried to summarize different ways to make money off of the content that you’re already creating, but if We missed any please suggest them via comment! Also, feel free to get in touch and let me know if there are any other topics you’d like to learn more about.