Free Content Creation Bubble
Just like there is a bubble in stock values and real estate values, I believe there is a bubble that we are in for free content creation.
As the new year begins, I have read several people’s blogs, an email newsletter and an online community that are talking about cutting back their effort to focus on making money. People are realizing that, while it is fun to build communities and produce great free content, they do have to eat as well. The return on investment is small compared to many people’s billable rates.
As your online resource grows, so does the demand on your time if you are moderating comments or producing new content to meet expectations.
I am still a huge fan of blogging. However, so your free content bubble does not burst, consider taking a long term approach and having a monitization strategy to at least lessen the financial blow to you once the fun begins to wane.
Making money is not a bad thing. As your audience grows, it should pay you back something. Here are some ideas:
Buzzoodle Blog – How I benefit
- Speaking Fees
- Buzzoodle Buzz Marketing – Book Sales
- Consulting Leads
When I started, I did not have any of those things in mind. However, over time I tried to find more ways to monitize my blog and use it to establish myself as an expert.
What other ways can you monitize your blog or online resource?
- Affiliate links – Getting paid to sell other people’s stuff.
- Advertising
- Paid reviews of books and other products (Please disclose it is paid)
- Donations
It is good to build an audience before you need it. Call it advance buzz. However, do not overlook the fact that it is work and you will do a better job for longer if you feel like you are getting some return on your investment.
Lead Generation Resources
Ron, this is a timely post. I agree 100% with your thought.
I think bloggers (good ones, anyway) can easily charge for content. A good blogger who charges a “premium” for a more in-depth relationship, in addition to the free content, is very likely to see their blogs become monetized and will be able to happily buy food for their families as a result.
Would I pay Ron $100 a month for premium content and interesting extras? Not likely. But, would I pay Ron $2.95 a month for premium content and interesting extras? More than likely. Get a couple of thousand people that will do that and “voila”! You’re in business as a blogger!
Free content will always have its place. However, in my opinion, that place is at the beginning of a relationship with a future customer. And the sole purpose of that free content is to persuade the customer to move from free, to paying a little, to paying a lot.
So, the headline for any blogger reading this is: WELCOME TO THE WORLD OF SALES! You didn’t get into blogging to be a salesperson, but you probably won’t stay in blogging for too much longer without becoming one.
Nice, detailed comment. Thanks Dan.
One more way to benefit is to create an eBook that assembles a lot of your content into a valuable resource. The Buzzoodle Buzz Marketing Strategy Guide is an example of that.
Oh you are a crafy devil, Ronald Francis McDaniel. Plugging your book in the middle of a reply to a comment? Beautiful…Zig Ziglar would be proud, my friend.
If I am going to write a sentence I might as well write one that sells something. Those a tags come in handy.