In the many conversations I have had with countless authors and experts over the years, a common theme is usually present. In fact, given our current economic conditions I would have to say this theme is becoming a critical need. How well an expert meets this need will make the difference between websites that are active and effective and ones that lay dormant…or disappear altogether.
That theme is called monetization. The days of publishing an attractive, content rich site that would then generate enough sales of established books, speaking gigs etc. are all but gone. We are moving into a new phase where implementing revenue models that are unique, easy to use, interactive and passive in their revenue structure is critical in this new info-tech age.
There are a variety of ways to create this new digital content. I will briefly discuss each and will provide more information in future blogs. The first platform and in my opinion, the easiest and most effective, is an E-book. E-books are evolving rapidly, much due to the evolution of digital readers and the economic pressure that has forced the closing of major brick and mortar retailers nationwide.
When done correctly, E-books can be around 80 pages long and sell for $30.00 to $80.00 or more. Its all about the presentation of the topic.
E-books are not meant to be general and cover a broad scope of a topic. They are most effective when they are about how to solve a critical issue in a fast period of time. Its the difference for example, between taking advantage of the preventative medical care offered from our insurance, which often goes unused, or the sense of urgency when strep throat arrives on the scene. Our sense of urgency and what we are willing to pay for relief is suddenly much different.
The next model I suggest looking into is content that can be digitally downloaded for a fee. A workshop or webinar can be created and then set up as a download for future users for a fee. In some cases, short 1-3 minute ‘what you need to know’ content can be created and a minimal fee or subscription fee can then be accessed.
Another increasingly popular option is to conduct live video sessions with small groups. Utilizing SKYPE, online interactive workshops can be offered and for a smaller fee to each participant, groups of up to 8 can be arranged, ultimately providing a great income per session…all from your home base.
There are many other options that can be created and ultimately promoted to millions in your targeted demographic. I will discuss them over the coming weeks. However, know that in these difficult times there are a wide variety of options present.
More are evolving every day and the experts who take the time to create them, promote them and develop them over time will be in the best position as we move forward in this challenging economy.