Monetization Strategies for Content
Okay let's go into monetization and and no matter how you spell it, it really does still mean money so uh so we've already talked about the biggest probably way that that I've used um uh events to make money which is doing the's webinars doing these live events that essentially build my leads right? And then aiken send them into my business I use the events as a lead funnel to bring them into my business that's the majority of what I do, however there are other monetization strategies out there for doing live events there just are there are I don't necessarily use all these there are people that use these, so I'm just prefacing this right now that I am not someone who uses these other strategies that I'm going to mention, but I wanted to mention them because these are other options available to you okay already said that you can make money from automated events yeah, but you can also make money and this is where we're going toe ask our expert panel about this stuff from things like sum...
mits I mentioned some it's before didn't I? Can you visualize and can you conceptualize away that you might use a summit for your particular niche? This goes back to the online audience question and also the people you guys here can you think of something how you can put an expert panel together and have them pitch good content every single day, even pitch and offer at the end of that content. But on then where you, as this person putting on the summit can generate a new affiliate commission on it. And then you can also offer of that summit for a freemium model where they can always watch it or they can down. They can get the package of it just like what creative lives does at a potentially discounted price while the summit is going on. Can you see yourself doing that with maybe an expert of of judges for expert expert panel let's? Say judges yeah, so did them. So let me let me go back to what I just said, okay, so that the summit concept and I kind of just breezed over that is a few different models and monetization rolled into one summits. They are where you bring in a group of experts on a particular topic. Think about your niche. Think about people that you would like to highlight these air. This is a leveraging tool. Doing a summit is a way to leverage other people's joint venture partners. Let's say other people's expertise also their communities. So if we did a summit together, you know all of us, we all did a summit together, you would send your traffic into the summit because you're selling your course I would also send my traffic into the summit to also sell your course but then you would also make money on the price of the summit itself right? So the summit is where you can bring in experts let's say five to ten experts over a period of five to ten days and that expert talks about their expertise and potentially offers uh a discounted price for their course let's say um and then if you sell that course both the expert and the person putting on the summit gets commission on that right that's the one that's one revenue model on some it's the second one is that the summit itself is what you sell access to the summit all the content that you get in the summit itself so all access to a package of all five to ten experts all in one so if you miss any of it you can still come back and watch it it's a similar concept to what the creative live model is this is adding in just a couple of extra additional things in terms of that during venture partnership with it may be a daily offer that makes sense and you don't have to have both of these revenue models in your summit summit can simply be that freemium model that creative life does or it could be that other joint venture offer that I just mentioned there any questions on doing summits why would you choose one of the other I think what's interesting is that you can leverage your joint venture partner by having them offer their product right and it seems to me that I mean this is what traffic superhero summit bid on I have never done a summit I just want everybody to would be aware of but this is that this is the model that they seem to use and I think the reason behind it is to incentivize joint venture partners to come in you want to say hey, we're going off we're going sell your product we may sell it at a discount but we're going to put our traffic behind it so you could make money that way but you can also make money from that freemium model by any traffic that you send and they buy and they buy excuse me and they buy the summit price that's when you get can get paid so the jake the joint venture partner who comes in and gets on that panel they could make money in two ways selling their own product right and the summit drives traffic to it or you can send your traffic into the summit and that traffic conveyed by the summit package I think that's why so that the person putting on the summit can leverage your community by you getting incentive for doing it because then you are the affiliate it's like an affiliate pass off the same time that makes that makes sense I think that's that's why it's successful that's why it can kind of work again I'm not the expert we're going to talk to some people that put on some it's they're going tell us some more about what they do and how it works for them but I just want you to be aware that it is a model that we like I'd like to get more information on so I'm excited to have this this panel that's that's going to happen later on but this is a cz much knowledge as I have in regards to some it's that it's a it's a pass off of incentive so I can leverage you you can leverage me so just think about how that works yeah I hear this and I think I heard you do this don't you because they tell us it's a list builder not as much as it is revenue generation it's both guy I'm gonna bring on rinaldi he's done a three day summit they take a poll in two hundred three hundred thousand over a three day period of time because they're leveraging five to ten experts who have massive communities and those communities intertwined they interconnect so your community if eugene r on tuesday if if you're if you're event is on tuesday shows a was on monday should they could still send traffic to your event and make money from it and so it always incentivizes it's always beneficial to all the panelists in the summit to continue to send traffic into the summit because everybody kind of gets this affiliate split. I don't know totally the logistics behind how you're doing that the affiliate thing, I know it can be done, though, because people are doing it. So the idea and concept behind that is that it's a dual everybody, it helps everybody essentially. So whether you become my affiliate or I become your affiliate, if that's probably what happens? So if you have your product were sent to your were sent into your shopping cart and I am your affiliate at that point, right? So if I'm driving traffic into my summit into my summit and you're pitching your product, the buy now button shows up clicks on it, and it goes into your shopping cart where I am an affiliate for you as a person putting on the summit. So I'm driving all my traffic to you, okay? So vice versa. If you're driving traffic into watching the summit, they can either buy your product and all of that goes back to you. So me, is the person putting on the summit? I'm not collecting half the commission on that it's your traffic, sending him into my summit. During your actual event so they're going to buy and you're going to make one hundred percent commission because it's your traffic but if they do by the summit package the summit package which is all of the experts together that's when that's when you get a fifty percent commission on that that makes sense I think that's I think that's the model I think that's what it is and we'll find out more information when when we have these guys come on okay? So sponsorships so jeanne might have a better idea as to this but sponsorships you could do a sponsorship for for podcasting and I think here's something that's interesting that you may not see it yet in something like google hangouts because google hangouts of relatively new so you know you might not see that you you're seeing a lot of sponsorship options out there but here's the thing I know that it's going to get big, I know that you're going to be able to find sponsors with whatever show platform you create and there's a lot of ways to do that in podcast it's obviously very popular nowadays if you get a if you get a lot of um if you get a lot of people downloading your your your podcast if you get a lot of viewers and that that audience is related to what may be a sponsor is looking for it's easy to find sponsors sponsorships on dh there's you know sponsorship could be a lot of things it could be someone giving you um this because you're going to be talking about it so technically we probably should have connected with with blue and gotten the snowball mike as a gift from them or as you know as as a donation a donation so there's many different ways of sponsorships donations obviously if you get paid cash it's great and generally speaking to do something like that you have to make a pitch for your sponsor and you see that a lot of times when you do a podcast you see podcasters talk about their sponsors you can also see it in different web shows as well where someone is like hey, this is brought to you by goto webinar goto webinars agree ebola david something garland does that on johnny do miss obviously has his sponsors and that sponsorship is based on some other things and we're going to I'm going to share that so the number of viewers and subscribers that that you have will determine the revenue that you can generate from sponsors whether that's ten bucks a month whether that's six figures a month really is going to depend on your first off the level how many subscribers how many people you have in your final but also who they are and what they absorb and how and how ah relevant your sponsors information is to your audience so you don't necessarily have to have a huge audience to build up and get sponsors as long as there's a very route love relevant connection between your sponsor in your particular audience. As I said, the best sponsors are products or services that maybe you use or more importantly, that your audience uses, but so brands right now they want to be a part of your show, they don't just want to be advertised around it. They don't just want to be a pre roll before your show starts like, you know, they want to be you talking about them, talking to your community about them, using your own enthusiasm to communicate their message, that's what they want, that's, what they'll pay for in all sponsors or different one sponsor make care more about impressions, while others care more about the messaging. The key to maximizing value is not so we're using the latest technology but customizing a package it precisely fulfills the sponsors needs right? So here's some ideas for sponsor placement, so consider different forms of product placement in your live streams, such as maybe wearing sponsor's logo zehr brands guess can become sponsors, so if you have a guest on who you know it's kind of in a vertical market. Kind of makes sense maybe their product owner they can potentially become a sponsor for you at some point so you can connect with them and say, hey, I'd love to have you on my show oh by the way would you be interested in being a sponsor because I can not only sell your product I can do affiliate marketing as one aspect of monetization through a show so if if if jean had a a product um or software that I personally use that have him as a guest on my show and we have an affiliate link in my in my on my block page that promotes it so that I make money every time I sell his product er or service or software and it and it's ah it allows me to make money allows you to make money and our audience consumes it because it's a value to them so guess as I said guess could become sponsors maybe brandon graphics for your sponsors within the within the actual live event itself. Some people do coupon codes for their sponsors so like if I have a web show and I in that web show I am offering go to webinar to discount you know coming through now you get the coupon discount for go to webinar for thirty dollars off but coming through now so what can happen is that they'll give you a promo code or discount as that as that that lee generator you know that that show another thing that people sometimes do is crowd sourcing the viewer as a sponsor so you could potentially lock out your viewers out of premium content so you stream out good content really good content but then they have to pay for for more of the premium content maybe on a subscription model okay, so the revenue model for podcasts from what I've seen one is obviously the affiliate marketing thing bringing a guest on but there are things like podcast network such as medio pod track wizard media who welcome podcasters that have an audience because that means they can sell advertisements against that audience and the network the network's collect shows categorized them and sell advertisement on a c p m, which is cost per thousand or c p a which is called for action basis. So um just the advertisement actually go so let's say he had a podcast that's let's say fifteen minutes long if he were to partner with any of these were do their advertisements go before after the show? We're in descriptions I think it goes out it depends on first of their they're helping you find sponsors I ok? So they're a network that helps you actually find sponsors if you're like someone who's has something in the itunes library built, they'll help you out to find your sponsor and then that sponsor will, they'll probably give you some suggestions as what to do for that sponsor. I would, I would think it's going to go, probably in the beginning of a podcast and gene might know better, because he's probably listened to more podcasts, and I have, but my belief is that that your sponsors would are gonna want to probably be highlighted in the beginning before you get to the content may be potentially so is your question, if it if you don't mind, and I'm not a complete expert because I'm not doing this, but based on talking to john lee do miss and they have small segments in the very front, they have bigger segments in the middle, and then sometimes they have outro segments and then some. It depends on your show, because it's your brand, your platform, your community that you must protect. So they're very careful, like no pat plan on smart, passive income he's very particular about the sponsors he takes, and andi typically puts those at the ending is really sure that there are a good fit for his audience that's probably the most important thing because it can damage anytime you do take sponsors, they can take away from your brand because you are sending them somewhere else, so just be mindful, so I guess the idea is to protect your audience at all costs I mean don't let the sponsor run the show I know you might you might want to have the income generated but you know if it is your brand and is your community you know you want to protect that community what's really interesting and I love the way they do this is like johnny duma's he will voice over all of his sponsors it is not a different voice that comes in so he keeps the same same tone and going through this and he's excited about the sponsors because they're the people that he supports and appreciates but it's his voice and you know I'm sure the scripting kind of is a collaboration not just them saying here read this yeah because he doesn't he wouldn't do that just like radio if you ever listen to a radio show and there they have that moment where they have that advertisement the radio deejay is the one that announces you know hey I just went over to springfield gm I needed to get a new car you know is having issues with mine well I popped right in they were able to take care of me really easily you guys have heard this spiel right from the local deejay well that's exactly the same kind of concept but generally speaking you know the sponsors that you want need to adhere to your to your market to the people listening to your your and consuming your content and generally speaking, those air the sponsors that you would sweep seek out, you'd seek out people that and businesses that resonate with whatever your audience is. For instance, if you have people that are interesting webinars, I have a product that's a webinar product, I might look at you as someone that I would want to sponsor that makes sense, so this cost per thousand impressions is a really interesting waited way to do it. You need a lot of viewership to really get to this point, but but it works really great for some people, so let's move into another concept youtube in content networks, so youtube will pay you two dollars, per thousand viewers as a partner. Ok, you have to have a lot of use in order to start getting paid from youtube. You just have to have, you know, start really getting a lot of followers to do that. I know a lot of youtubers that have, you know, hundreds of thousands of subscribers, they're not making as much money as they probably would want to make, sometimes they because they're probably solely fitting in with this youtube category when they could potentially get sponsors. Sponsors are the actual way you can make money. Most of these youtubers don't make money from youtube they make money from the sponsors maybelline other make up our companies that leverage their own existing community. Now if you want to get a huge community fast use and leverage youtube and then go back to the sponsors and said hey, look, I have a million subscribers what can what can I do for you to promote your product and service and generally speaking it's going to work quite well so anyway let's go into some other ideas so here a couple of networks that a lot of youtubers use for their content one is machinima okay machinima dot com andi other is maker studio dot com machina. Machinima pays about two dollars and fifty cents from what I know to five dollars per thousand people and you keep all of it. However, they don't have a studio resource so machinima will pay you more than youtube but then your house kind of within their platform but you are within their network at that point but you can get paid more through machinima than you do from youtube maker studio excuse me, on the other hand, does not pay. In fact, they take half of your income from youtube. However, they have a full blown studio and different studios throughout the country in different probably doing different countries I would imagine um where you can take advantage of their studios like this, they're lighting their cameras, their props, everything. They have several different studios, there's, one in l, a that's, quite big, and a lot of big youtubers go there to shoot their content because they don't have the budget to buy all the equipment, so they'll go to maker and make her studio. We'll have all that ready to go for them and make her studio, then takes a cut of their of their youtube commission, but they also help them with getting themselves out there. They're looking for good content, people they want to find people that are good with content thing could get in front of the camera, and that can help them generate that income, so there will nurture the content creator and then take out that country's content creators money, but naturally so, because they're helping that content creator grow that content creators community, because then now that content creator can go out and get sponsors, chances are, I don't know this to be totally true, but I'm sure some of these companies, like maker studio, they they probably have agencies, a new agency side of it that will actually help them find sponsors and maybe take a commission on that sponsorship that's my guess, I don't know if true, I'm just speculating, but I think it is something that they're probably doing if if they're smart, because they have a lot of content people, a lot of community people, okay? And we also have paid youtube channels. This is something relatively new, and what you need to have of a paid channel is a minimum of ten thousand subscribers. You also have to be verified by youtube, and what that means is now, at that point, you can have paid youtube channels content that people can watch khun b subscriber based, so you can have premium cog videos that will require someone to maybe do a fourteen day trial and then have them roll in to a subscriber based system. So maybe fourteen day trial uh, ten dollars a month to access these videos. Ok, that's, what you can dio with youtube now, as I said, they can set their own subscription rates through youtube, but youtube has the final authority to demeter to determine the price. Every pay channel will offer an initial fourteen day trial, and the revenue split is something like fifty five percent to youtube, I believe are the youtube user, but don't quote me on this, but this is some information that I dug up thirty five percent on youtube and forty five percent sorry, forty five, fifty five percent of the youtube um uh the youtube user right you putting on the channel and forty five percent goes to youtube so would be a revenue split essentially right? S so that is another way that you can make money from from your content. So what I really wanted to just kind of make it really understand here is that the sponsorships are huge are huge way that you can you can make income from your content if you're not say, doing what we've been talking about in the webinars, right? If you already don't have let's say you don't have an existing business or let's say you want to use the content that you put on the web to generate income you could do that right and by by by building up your community you can then leverage sponsors you khun then leverage your own community to then sell to them later on whether it's your product whether it's somebody else's affiliate product he's all these things give you options the more you build your community, the more money you can obviously make because you can then use thes he's leveraging tools such a sponsorships and uh and of course selling to them through webinars and building your list you're building your this is the most important thing and I think there is a huge potential for both alive for live google hangouts to get sponsors, okay we're looking for sponsors, casey essman c is saying, well, how do these affiliate programs get started? Is it ok to make a direct application to a company? And what would they be looking for? Why would why would they agreed to sponsor you? They were looking for people that have an existing community, and then that community has to make sense to them that that sponsor right? I don't have particular numbers like you need ten thousand in order to get this much money. I don't have that information, there are people that probably know those that information better than me, but it is relevant the community to what that sponsor is promoting. Otherwise, that's what does it doesn't make any sense for that sponsor to sponsor someone who where the community isn't gel with that sponsors. So so the best thing you can do to get sponsors is build up your community and use these tools that we talked about you doing a live live show, maybe doing a podcast, right? Starting with a live show doing a podcast build up those subscribers have those call to action's to build up those subscribers, get your google plus circles up, get your youtube subscribers up, and then start pitching your sponsors saying, look, I have this I have this many twitter followers I have this many youtube followers I have this many facebook followers I have this many x y and z followers you should this is why you might want to sponsor me my audience is this this and this who's your audience this this and this they match completely this is what we can do why don't we do this let's come up with a partnership role those inside they're all those tools that the democrat like looking at the demographics in particular so I'd imagine to answer her question also you'd want to go armed with as much demographic information that absolutely just wouldn't you just use all those polls and absolutely yeah the more you know your audience the better that the more that sponsor's gonna want to promote and sponsor you because they're going to know exactly they're going to know the engagement level of those audience all that audience member and the more engaged that audience is the more likely they're going to spot that you're gonna get a sponsor based on that you're like an example yes please so I was asked tio do a presentation to haas business school here in berkeley their some of their mba students and they were interested in my community, the people I was speaking to that we're looking to change jobs or go back to school because that was as you said, a natural fit for a peasant there's just this is simple exactly exactly what you're saying exactly it's it's it's fitting them together I did want to mention twitch tv so we mentioned this on I think that for the one of the first sessions twitch tv is a gaming site essentially j k o has like five accounts on twitch he's all over there he's everywhere on twitch on dh twitch you can get paid based on c pm's so cost per thousand two dollars cost per thousand meaning you get paid to two dollars per thousand ad impressions before you before you can become a partner you will already need a regular amount of viewers otherwise you most likely won't get accepted as a partner but here's what something cool is that you don't necessarily have to be a gamer to get people to come to this to come to twitch jake a are you a gamer? I'm not a game and I don't really use twitch but what I actually used it for was I needed to do something I need to be able to broadcast something and this was a readily available toe told that is it's actually fantastic for that reason I had no idea that any connection of game I just needed some time you had a very quick solution and it really worked and here's the cool thing is that he potentially could make money from twitch if his following got big on twitch and it doesn't have to necessarily be gaming that's a thing. But twitch is known for gaming, that's, the community that really go there. But I'm sure which is going to branch out to other industries, and they're going to have this thiss partnership platform that will still allow you to make money from twitch, no matter who you are. So that's my this is this is my guess that this is going to move forward. So, it's, cool stuff a lot, of course. Start really cool stuff. And we can tell by the questions that people have been really engaged in this and learn exactly how they can monetize how they can use youtube, healthy news, twitch and all the other formats. Except you really get their message out there.