Top 5 Reasons To Monetize Your Community
Matchpool’s new features are changing the way pool members engage, through monetization
Overview
If you’ve never heard the expression, “Why buy the cow if you can get the milk for free,” you were most likely raised by apes. Though the saying is usually used to keep young women chaste until they’ve said “I do,” it can also be easily applied to the worlds of community management and content marketing. Knowing that good digital content is difficult to consistently produce and, when free, is not always effective at reeling in and retaining target audience members due to over-cluttered displays filled with promotional material, these savvy community leaders are turning to paid models to boost member loyalty, retention and their bottom line.
Here are the top 5 reasons you need to create value for your community via monetization.
1. Monetization places a dollar value on your services
Monetizing your community is the equivalent of placing a price tag on the content, products or services you offer. It states, loud and clear, that your offering is of value and its brand is worth their investment. This is true, even if you’re engaging in the same content creation or administration activities you would otherwise perform for free. Monetize your community to rebrand yourself and your offering to reflect greater perceived worth.
2. Monetization brings in new sources of revenue
When you monetize access to a blog post, the right to send you direct messages, or the ability to enter chats with other community members, you are essentially bringing in money from new and previously untapped sources. Instead of paying (or paying a lot) to advertise, you are rewarding your community members with your marketing materials or marketable skills, in exchange for THEIR payment to You.
3. Monetization is great for focused marketing
Monetization is the gatekeeper of community member LTV. Members “pay to play,” which instantly injects authority and brand power into your monetized offerings and vested interest in whatever it is they’re paying to access. This way, you can focus your marketing content on efforts geared towards nurturing engagement and retention, as opposed to on activities designed to drive lead capture and initial conversion.
4. Monetization is ideal for performance tracking and optimization
When your community operates according to commissable earnings, it makes it much easier to track your performance and your community members’ behaviors. Analyze these findings to learn what members want, what they’re willing to pay for — and what they perceive isn’t worth their hard-earned cash. Use this information to optimize your offering and drive future community success.
5. Monetization drives thought leadership
Monetizing your community allows you to position yourself as an expert on the field or topic your community was built upon. And with thought leadership comes a supportive following, community members who will pay to access your hub of consistent content and advocate on behalf of what you profess. After all, it is well known that anything worthwhile in life comes at a cost. Your time, resources and efforts included.
Matchpool’s new features are taking community monetization to the next level
To create more engaged, involved and revenue-bearing communities, Matchpool is launching several new and exciting monetization features. Pool admins will have the option to set a join fee to join their pool, set custom matching fees, and enable pool members to pay to send them direct messages with questions and comments. And pool members will be able to pay to pin messages to the public chat for the entire community to see, send tipped messages to excellent content creators and even pay to post content of their own (if the pool admin set a pay to post option).
Matchpool Feature Guides
With Matchpool, monetizing your community is going to be easier than ever. So, what are you waiting for?
For more information, visit www.matchpool.com.
