Aside from the obvious — to sell content and make a profit — why should you consider building a Content Monetization Portal? After all, you’ve already got your business; can you really devote the time and energy to start another? The reality is that content monetization is a new business-model that is turning heads for its cross-business benefits, low-cost maintenance, and high ROI.
Here are five great reasons to build a Content Monetization Portal.
Reason #1 to build a Content Monetization Portal: Discover an exciting, new, low-cost business model.
There’s no ifs, ands, or buts about it: content monetization is a thrilling new business model, particularly for those whose expertise lies in manufacturing or service-based businesses. In those markets, overheads are high, the cost of entry is high, the complexity of the business is high, and to top it all off, the marketplace is confined. The limit on revenue is tied to staff’s working hours or manufacturing capacity. A Content Monetization Portal is the panacea to all these problems.
The content monetization model offers:
- Manageable start-up costs
- Near-zero cost of goods sold on an ongoing basis
- Minimal staffing requirements
- Low fixed overhead requirements
- Minimal marketing costs, particularly once the system has gained traction in the marketplace
Reason #2 to build a Content Monetization Portal: Leverage your experience and leave a legacy.
You’ve built an entire career in this industry. You probably have decades of education and experience in your field — and all that knowledge is trapped inside your head instead of out in the world. How will you honor your knowledge? How can you use it to help others? Especially as you consider retirement, how can you leverage everything you’ve learned? You do yourself and thousands (if not millions) of others a disservice if you walk out the proverbial door, taking your knowledge with you.
Do right by your years of hard-won expertise in the field. Pay it forward and leave a lasting legacy by making your knowledge available to others.
Reason #3 to build a Content Monetization Portal: Support your book and other thought leadership.
Are you considering publishing the next great business book of your field? Hold that thought! You should actually build your Content Monetization Portal first. Here’s why: you can leverage insights from your portal to determine the most market-worthy content. Can’t decide if you should have a chapter on, say, your unique product development process? Look to your portal to see if that subject is of interest to your target audience. Your Content Monetization Portal can actually help you plan the materials for your book for better sales results — thereby reducing the time it takes to develop the book’s content and reducing the up-front costs.
In addition, with an existing and thriving Content Monetization Portal, you can promote your book more effectively. (But a Content Monetization Portal has much more marketing potential than a book. Just saying…)
The other reasons to develop your CM Portal in advance of your book is that this model offers additional value for you and your audience. It enables increased touch points with your audience, and gives you the ability to alter and expand the content over time, keeping it current. Plus, a Content Monetization Portal provides an ongoing revenue stream, as opposed to the single sale of the book.
Not planning on writing a book? The same can be said for traditional methods of disseminating your knowledge, such as publishing white papers, participating at conferences and industry events, or delivering keynote addresses. The support of a Content Monetization Portal makes these other methods more effective and drives greater long-term value.
Reason #4 to build a Content Monetization Portal: Use the brand power as a new marketing opportunity.
Nothing says “authority” like a Content Monetization Portal. Period.
The brand associations with such systems are undeniably powerful; as such, they can be leveraged far beyond the selling of content monetization subscriptions. As its own marketing opportunity, the Content Monetization Portal can promote the individuals or business behind the system, encouraging sales of the products or services in the industry. This can be as direct as selling consulting time, for instance, or as subtle as encouraging the adoption of your differentiated product or service to the subscribed content monetization members.
Reason #5 to build a Content Monetization Portal: Create a new revenue stream for your business.
For any company that trades on its knowledge — which, let’s face it, is the vast majority of businesses — you can leverage the training or customer service content you already have and provide it to a larger marketplace. Yes, you can sell materials that you needed to create anyway.
For instance, let’s say you’ve developed industry-leading training for your team. Would others in your space from around the world pay to access that content for their own teams? If you have already developed a world-class online training system for your restaurant staff, it might be that you can monetize that system under a new brand by offering it as a baseline training system for other restaurateurs in the wider marketplace. Ta-dah! A brand new revenue stream that offsets the costs of developing the new system.
You have knowledge. Audiences out there are willing to pay for it. Tap into that resource and monetize your expertise with a Content Monetization Portal, which serves the dual purpose of being a new low-cost revenue stream and supporting your business.