Three Ways To Monetize Your Brand For Long-Term Success
If you’re at all familiar with today’s business landscape, you know just how it important it is to use social media, blogging and other such tools to grow your company.
However, with all of these free content sharing tools, how do you go about making them actually earn money for you?
When you are looking to turn a brand into an actual business, you need some seasoned monetization strategies that work.
Below we’ll explore three of the best areas of focus if you’re looking to monetize your brand.
#1: Provide Person To Personal Consultations And Services
In today’s crowded internet landscape, a little personal touch goes a very long way.
When you want to really cut through the noise of the internet, a little bit of face time can make a difference. The true benefit is that selling personal time and consultations also allows you to ask a greater price.
Think about it — if you’re physically taking the time to engage in a web chat or speak to someone in person, this is time that you could be elsewhere making money. To make this worth your while, you will need to charge a rate that accounts for the time spent with your client.
People charge hundreds of dollars per hour for their time or more. As you can tell, this allows you to make a sizable income once your brand is valuable and your authenticity is established.
#2: Put Out A Quality Digital Product That Draws In Royalties
Digital products are all the rave today and allow you to add an incredible stream of passive income.
According to studies Amazon book sale take up a huge market share, and customers have listened to 2 billion hours of their audiobooks. What this shows is that people are dying for digital content and will consistently pay good money to access it.
You need to assess your brand and figure out how it makes sense for you from a monetization standpoint. Whether you’re a standup comedian looking to sell albums or a handyman looking to sell digital products across several general contractor websites, you’ll need to make your platform homebase for these products.
Take general contracting for instance. At its core, this is a person to person, project by project based business. However, imagine the potential royalties you can bring in by creating tutorials and ebooks that teach people how to handle their own building projects.
The more you think of yourself as a global business, the more you’ll recognize the abundance of opportunities out there for you to capitalize on.
#3: Sell A Course That You Can Automate
Automation is also the name of the game because it allows you to make money while you sleep.
If you have to physically login and send people your products or process sales, you’ll not only get bogged down in work, you’ll slow the process of collecting money.
It needs to be a seamless process for customers to take advantage of your services, so invest in platforms that expedite this process.
When you use these three tips you can easily begin to monetize your brands.