I have a community, how can I monetize it?

8 replies
Hi. I have built a community by accident and am trying to figure out how to monetize it without a hard sell.

It's a reader community. Currently on FB. Very active with thousands of members, all driven by word-of-mouth. The whole thing is all about relationship marketing so I can't just throw squeeze pages at people (nor do I want to), I have to be really careful with how I manage this group. Right now I use it to sell my books and use my affiliate code for Amazon. So not a huge amount of money coming in.

I'm trying to figure out if I should try to start a mailing list (but I already have one for my books in that genre, so it feels like competing with myself--and I do market lots of books to folks all the time.) or migrate to a forum or what?

I'm not a marketer. This has all been a happy accident. I suppose I could charge authors for access, but then that hurts my ability to cross market my books down the line...see above re: relationship building<---that's my m.o. ETA: Authors are already active in the group. One thing I've done is funnel authors into a marketing group where we do cooperative promotion stuff so I do see some financial benefit from that, it's just not X dollars or month, it's more erratic.

This community doesn't have to be monetized, but if there are simple things I can do to optimize any income, I would love to know.

Thanks
#community #monetize
  • Profile picture of the author Steve B
    Originally Posted by WontonSoup View Post

    This community doesn't have to be monetized, but if there are simple things I can do to optimize any income, I would love to know.
    Monetizing or "optimizing any income" . . . what's the difference? You're interested in making money from your audience, correct?

    If I were in your shoes, I would not disturb what you're doing. It seems to be working and people are engaged with your FB community.

    I would simply add an "insider" membership . . . something that the most rabid fans in your group would pay to join. You can use the FB group as your pool of prospects for your membership site. You should be able to get 10-20% (just a guess - I don't know your niche) to pay for access to even better information and more personal attention.

    Just my opinion.

    Steve
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    • Profile picture of the author slammer81
      Originally Posted by Steve B View Post

      Monetizing or "optimizing any income" . . . what's the difference? You're interested in making money from your audience, correct?

      If I were in your shoes, I would not disturb what you're doing. It seems to be working and people are engaged with your FB community.

      I would simply add an "insider" membership . . . something that the most rabid fans in your group would pay to join. You can use the FB group as your pool of prospects for your membership site. You should be able to get 10-20% (just a guess - I don't know your niche) to pay for access to even better information and more personal attention.

      Just my opinion.

      Steve
      This above.

      Great way for people to self-select if they want to pay more for more of you.
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  • Profile picture of the author newideamarketing
    Banned
    cpa offers and affilate marketing

    check out clickbank
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  • Profile picture of the author SunnyDelight
    Like someone else said. You could create insiders access or a course. Obviously people want to know what you know and I doubt they'll be offended by being presented with a course or coaching of some sort where they can get more from you.

    If they're already loving the content you give for free. Then the Law of Reciprocity will take care of everything else!
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    • Profile picture of the author dana67
      Social Media, like Facebook, is a great way to get quality traffic to monetized sites and blogs. There are many ways to monetize sites and blogs that you own.


      You may want to read a bit about SMM (Social Media Marketing).
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  • Profile picture of the author counzila
    Best is nowadays social media but paid methods work fast
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    Build Your
    Dream Website & funnels- Clickhere Your Online Funnels free
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  • Profile picture of the author WontonSoup
    Okay. Thanks. I just wanted to make sure I wasn't missing anything obvious.

    Probably an external website with ads might work best. Coaching for the authors is a possibility but time is a big constraint for me so I would have to really think about whether that's the best use of my time vs. the income I produce with books.

    It's also possible that I will become an actual publisher, but that is another time suck that might not be worth the money. I don't know.

    I will definitely look up social media marketing.

    Thanks for the suggestions.
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  • Profile picture of the author MuhamadEdisonA
    Actually, your problem is simple. You can monetize your reader community on FB by to add them to your spesial group then you can give value to them first, then you can promote it someday. Don't be hardsell first. Many people doesn't like this method, And I also. Better you give more value first,..
    It's FREE methods to make a list on FB without domain, without hosting. Just with FREE FB group you can get to monetize them

    My mentor also monetize their students by make a group..

    -Muhamad Edison A
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