Now that you have a personal brand, how can you monetize it? Many people have solid brands but are less wealthy than you think. We call this “Twitter rich” and “dollar broke.” Here are several ways to earn from your brand, but for the sake of this course, we would be limiting ourselves to these five ways:
If you already have an audience, this is an excellent opportunity to put your incredible expertise and knowledge to the test. Many personal brands are taking advantage of this, as you can earn thousands from quality content that you share. Your product can be an e-book, course, podcast, checklist, masterclass, newsletter, podcast, template, etc. Technology and the Internet make creating and promoting your digital products straightforward. Build thought leadership by exploring trends in your industry.
Create guides that allow you to teach your customers something new or to think about it from a unique angle. You can also create physical products; however, consider making digital products to avoid going through all the complicated steps with physical item production. It is much easier and can bring you money at all times, even when you sleep. If you have a skill that could be considered valuable, people will pay good money for your knowledge. Monetizing a personal brand through selling products is no cakewalk.
You can also help other brands advertise their products and services and get paid. The exciting thing with this method is that you’re not actually “selling” your audience anything. What you’re doing is you’re selling other people access to your audience. You have an audience who trusts you, and you can influence their decisions. This is a good business model if you’re super likable and good at getting many followers. What’s the difference between ads and affiliates? Advertisers pay a fixed fee for a timeslot on your show or a post on your account. Affiliates, however, pay for performance.
They pay you if your audience clicks on the link; you give them and buy/engage with the company. You can get paid as commission made or per post or leads generated. You can cooperate with brands and promote their products on your page. But be sure to advertise only those products you want to use yourself.
You can reach out to organizations aligned with your brand when you sell ads to businesses. Bloggers collaborating with every brand and not telling the truth to their subscribers quickly lose their authority. You’ll have to constantly reach out to new prospects, market your press kits, and promote your brand. It takes work, but the hard work might pay off quickly! Selling ads is only sometimes the best solution. Most of the time, it is the worst way to monetize, but it’s a straightforward way to build some momentum.
Some people would like to do what you do and would like to learn from you directly. Like a coach would treat his players, you would train and guide them to achieve their personal growth, career, or business goals. You will hold them by hand and show them how to improve and sustain their performance.
There is a demand for personal tutors and consultants in almost every niche, from technology to fitness. People often prefer to reach goals and make their dreams come true with the help of someone who has already been through the same process. So, if you already have an audience and a solid personal brand, you can build a successful coaching business. If you do a little research, you will discover people consulting on women in business, dog training, web design, sales, leadership development, digital marketing, shopping, relationships, yoga, etc.
Coaching is an excellent option for people who thrive in relationships and can easily communicate their message and their ideas to people. It proves that you can become a coach or a consultant in any field you are knowledgeable about. If you can truly establish yourself as an expert in your niche, people will gladly pay for access to premium content.
To be an effective coach, you must be an effective listener and teacher. Also, a great coach must have excellent time management skills. Once you start to build a natural client base, it case be challenging to manage all your coaching sessions, and if you miss a coaching session, you can upset your clients who pay you their hard-earned money.
People are increasingly open to working with coaches because the best way to learn these valuable skills is to learn from someone who has already been through the process. Not to mention, a successful coaching business can establish your career and provide you with enough money to be self-employed! That’s the dream.
- You can sell your membership program.
Though you might share valuable content freely on your platforms, there is premium content that you would release to only some of your audience. You can share exclusive content here as webinars, blog posts, articles, case studies, videos, and anything you believe your audience will be willing to pay for. They will have more access to you, your resources, and the services that you offer.
The difference between the services coaching and membership program is that those who receive coaching get more personalized service and more access to you. I love building online communities because if you get enough people engaged, your members will become brand advocates and do a lot of marketing for you.
A thriving membership community is a win-win for everyone and is very scalable. The members get to be part of something they enjoy, and you get to build a great business that provides value to people.
A membership program has the potential to scale revenue at an exponential rate. You can grow expenses at a different rate than increasing your income. With a membership program, there are upfront costs to develop the program, but you can leverage technology to host your community.
Becoming a public speaker is an excellent way to gain confidence, eliminate imposter syndrome, motivate people for growth, and establish leadership in your niche. You can speak at events to train and teach people in your areas of interest. Like with guest blogging and interviews, you need to look for conferences and events in your field and then approach an organizer with your media kit.
You can charge based on the duration, type of audience, and location if not virtual. This is one of the fastest paths to cash because all you do is exchange your time for their money. Here is what most people don’t say, and you should avoid making a mistake. Only a select few build their brands to the point where they can build a real business around speaking. You have to have indeed a unique message that stands apart from the rest and resonates with people on an emotional level. You have to choose a message that resonates yet doesn’t have a lot of “experts.” Your experience is your calling card, so choose wisely. But is it impossible? Of course not.
CONCLUSION
One of the main reasons you can continue to grow your brand is if it produces income for you. You are sitting on a pile of cash if you don’t monetize your brand. You are only going to be able to monetize in direct proportion to the amount of value and impact and people that you can reach. It will be challenging to justify allocating the time, energy, and resources to grow your brand if it is going well, not payoff.
A personal brand is the most valuable asset someone can own. Even if you don’t monetize your brand directly, building an audience is a great tool to bring in opportunities in the future. What’s important is that you get started. Even if it’s one post a week, one newsletter a week, or one video a week, you will be amazed by how much momentum you can build with consistent action.
When you are intentional about your brand, you will take control of the world around you. Personal branding is about marketing yourself and demonstrating that you know what you’re talking about without being too ‘salesy.’ It is who you are, what you stand for, the values you embrace, and how you express them. The more people can relate to you and enjoy your content, the more your network will convert to your site as a result (eventually).media. All you need to do is own your brand. Invest time in it, stay consistent, and produce the kind of content you’re comfortable with and your audience engages with.
Keep it from slipping to the bottom of your to-do list. You will attract what you seek once you look like it. Your brand should highlight your strengths, establish a reputation, build trust, and communicate the unique attributes that you bring to your current (or desired) industry. Cultivated well, your brand will signal to employers whether or not you’ll be the right fit for an open role.
Your brand is more than just an online persona; it’s how you carry yourself at home, in the office, and on your daily commute. That story you tell, combined with those everyday interactions, ultimately defines your brand.
Larry Winget once said ‘The goal is to find your uniqueness and exploit it in the service of others.'”
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