We all know there's plenty of coin up for grabs on the internet, and Content Monetization is a very effective way to let that sweet digital gold come your way.
You will have to analyze if Content Monetization is really for you as it depends on how much you're willing to invest (in time, money and other resources) to make it work properly.
And, in case you have already set your mind and have decided you're going for it, here you have some useful options to explore about Content Monetization:
This is the first on the list simply because it is the most common, and the most useful for most content creators. Whether you rely on a platform like YouTube or you have your own website, you can earn some cash out of the ads displayed to your visitors and users. Consider the kind of ads and partners you'll have to make sure they are as relevant as possible to your audience or you'll risk annoying them instead of keeping them interested in the content.
Talking about users who might consider ads annoying, you can also provide them with ad-free access to your content feed for a fee. You can throw some other perks for them to feel more inclined to pay for such a subscription, like special bonus episodes of your podcast or digital goods for the Twitch members of your channel.
Similar to Subscriptions, Premium Features are a great way to monetize your content because it also makes your following feel like they're part of something exclusive. You get to choose if it's a one-time payment or you roll it periodically (weekly, monthly, yearly, etc.) considering the type of content you publish. For instance, some app developers usually place cool features behind the paywall or educators sell an e-book with deeper info than the one students can get through their regular online courses.
Sometimes people are more than willing to support your Content directly in exchange of the inspiration, fun, enjoyment or learning they get from it. Platforms like Patreon or Twitch allow creators to get donations easily. To avoid feeling awkward about it, make sure your message asking for donations is impactful without sounding like begging.
If you feel your audience is large (and loyal) enough, you can try selling products with your brand: plushies, t-shirts, hats, mugs, glasses or something entirely different. You can even sell limited-edition items that run for a little while or in small quantities to make them more appealing. The best way to make this strategy work is to offer something desirable and USEFUL! It's not about selling for the sake of it or else your merchandise will end up becoming trash, damaging your brand and business in the process.
AFFILIATE MARKETING & SPONSORSHIPS
If you don't feel like selling stuff yourself, then look for a partner that sells something your audience needs. Through sponsorships (whether by mentions or direct links within your content) you'll earn a percentage of the revenue generated when your audience makes a purchase. Do you know who's got a great affiliate program? Yeah, it's Kosmic Dust, with the Kosmonaut Program, which is specifically designed to help digital creators grow and earn some cash as well. Check it out!
There's not a simple way to call one of these options the "most effective", because there are a lot of variables to consider like the kind of content you produce or the platform(s) you use. Feel free to consider all possibilities and explore those you feel are more in sync with your needs (and those of your business).
For more ideas on Content Strategies, join the Kosmic Dust Community on social media, where you'll find more info, tools and resources for the Digital Life.
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