5 Ways To Monetize Your Knowledge Online
If you're new here, welcome! It's perfect timing because we're just getting started! If you want to catch up on anything you missed, you can read all past issues of The Download HERE.
The previous issues of The Download have focused on overcoming the fear of putting yourself out there online, maximizing your content for various platforms, and writing a solid theme statement that acts as your content creator North Star.
We've built a solid foundation thus far, but the question remains:
HOW DO WE MAKE THE MONEY?! 💰
Here are 5 ways to package and sell your knowledge online:
1:1 Coaching.
Yes, it involves trading time for money. However, the insights you gain from tailoring your teaching to an individual's needs are invaluable for scaling your business into a passive income generator.
Think about it – you gain an intimate understanding of your target audience's pain points, fears, and obstacles. Experience has taught me that if one person has a question, dozens more likely share the same one.
You can easily automate these services and sync them to your calendar with platforms like Calendly and Intro.
Calendly is an excellent option if you have your own site or landing page and are looking to embed an easily customizable workflow and payment system.
Intro is a solid option for anyone who needs a destination space for potential clients to learn more about you. You can list your bio and social channels and provide a call-to-action for easy booking and payment. It can act as a micro-site while building and expanding your brand.
Check out my long-lost twin, Chelsea's Intro page for inspo HERE.
Neither is free, but both have simple UX designs, automate, and save so much time that the fees/subscriptions are valuable. Make this a simple process both for you and your potential clients.
As for me, I use Calendly.
Want to learn more about how I set up my workflow?
Or do you want to pick my brain and talk about all things online business setup?
Curious how much money I make from various income streams?
I've opened slots for 1:1 sessions over the next few weeks, but availability is limited!
2. Teach a Cohort
To efficiently broaden your impact, consider coaching small groups within a cohort. This approach allows you to generate significant income while addressing industry-specific challenges.
It helps your audience connect with others in your vertical and facilitates the growth of a supportive network. As they build connections and confidence through your cohort, they become advocates, helping to expand your network.
3. E-Books and Digital Products
In today's digital age, self-publishing is incredibly accessible, allowing you to instantly share your knowledge with eager learners.
Creating e-books, guides, and other digital products establishes your authority in your vertical and serves as a lucrative avenue for income generation. Embrace the convenience of instant accessibility and position yourself as a trusted expert by creating and selling valuable digital content.
This is one of those areas where leveraging AI will be your best friend. ChatGPT can act as an editor-at-large, helping you shape your outline or organize your content in a more digestible way.
Throw it into a Canva template to give it an eye-catching ✨aesthetic✨, and you have a solid digital product you can sell to your audience. As I type this, I’m wrapping up my first E-book that encompasses everything we’ve covered when it comes to monetizing yourself online and so much more! Want to be the first to get it?! Join the waitlist below!
4. On-Demand Courses
While developing these resources may seem significant, the payoff can be substantial.
Consider this: an on-demand course with lifetime access becomes a premium product, justifying a higher price point. The online format also offers the advantage of continuous updates, allowing you to enhance the course with new information as your industry evolves. This unique selling point adds value for the purchaser and positions your premium offering as a dynamic and ever-improving investment in their education.
If building out premium on-demand courses is something you're interested in, shoot me a reply to this email. I'll connect you with the go-to authority of all things course-building!
5. Content Subscriptions
It seems like every platform is offering subscriptions now. But taking the time to find the right offering for your content and what you'd ultimately like to create could pay dividends.
Platforms like Patreon and BrandArmy (I can even create a separate paid newsletter subscription here on ConvertKit) allow you to keep your expertise behind a paywall for paid subscribers only. Think OnlyFans but for creators! (I'll admit, I have been tempted to sell feet pics more than once after reading a few case studies on the platform. 😏)
But back to the topic at hand! Traditional social networks are catching up to this trend, too. Instagram now allows accounts with 10k+ followers to utilize subscription models to monetize their IG presence and keep them on the platform rather than pointing them to another.
The platform formerly known as Twitter has (or had, lord only knows what manic, midnight decisions Elon has made before this hits your inbox) Super Follow options that resemble Instagram.
If you are looking at subscription models, let the tale of Twitter's spiral be a cautionary one.
Remember, these social networks can change their offerings and business models on a whim and do it often. Instagram was paying creators bonuses for getting specific amounts of views on reels and one day announced they were discontinuing the program. Some creators were raking in upwards of $30k PER MONTH just from Reels bonuses, and one day, POOF, it was gone.
Twitter marketing bros love to remind us all to "not rent on borrowed land." Still, it's never been more accurate than in moments like these. Choose subscription models wisely, and if you implement them on a social network, plan to funnel that audience to a more stable service continuously. Preferably one you own and have built on your own website.
So now that we've covered 5 different ways to monetize your knowledge online, which area will you focus on first? If you have any follow-up questions, reply directly to this email. I read every one that comes through!
As always, my main goal is to help you create and curate a life that works for YOU. This isn't a get-rich-quick type of newsletter.
It's not going to be the Ozempic shot for your career. But I promise to continuously provide options and insight into how you can take control of your career narrative, remove salary caps, and open your mind to income possibilities outside of the standard 9-5 grind.
