How do you define success when selling your content? The answer depends on your goals. Are you looking to earn more money? Earn steady revenue throughout the year? Be able to take more time off? Create a new line of business? Build your legacy?
These goals will be your decision making guide as you build a content library, market your service, and grow a loyal online following, and will be the measuring stick you use to determine success.
Goals Guide Decision Making
Have you ever gone grocery shopping while hungry and without a list in hand? You get home and realize you didn’t buy the items you needed and spent way more money than you should have on delicious (but likely less-than-healthy) snacks.
A very similar thing can happen if you embark on a content monetization journey without clearly-defined goals.
When you have a choice before you, goals allow you to ask the question, “Does this activity/ investment/ tool/ process/ opportunity help get me where I’m trying to go?” If the answer is no, you can move on to something else. If the answer is yes, you can feel confident and secure investing there.
Say you start a video series on your own without defining their purpose. It won’t be long before you find yourself spending thousands of dollars on expensive equipment and you begin working around the clock, filming video, cutting it, mixing the audio, etc. In the end, you find yourself with a mass of disjointed videos that lack a clear purpose and cohesive message.
From where to spend your money to how to spend your time, goals allow you to make decisions with confidence, and give you a solid foundation for justifying investments to your business partners, colleagues or employees.
Having goals is good. We’ve established that, right? Having a measurement plan, then, is crucial. Goals are only as good as your ability to accurately measure success. The tools and processes you use to measure your progress toward your goals, is one of the most important decisions you’ll make in your content monetization journey.
Starting with an objective and articulated goals, what are the Key Performance Indicators you’ll monitor to know if you’re being successful? What is the baseline and target for these KPIs? How will you actually, specifically measure them? How often will you measure them?
Setting and measuring your progress toward goals is your roadmap to success, because they lay out your unique definition of what success will look like. They keep you focused and guide your decision making, and ultimately put you in control of your success.