Monetization for Creators Should Be Easier
5 Tips on Monetizing Your Work Online
Artists, bloggers, and other creatives with a following have been capitalizing on their passions and developing online followings since the birth of the internet. For content creators who have not yet built substantial audiences on their channels, monetization is not always accessible.
Monetization programs can be challenging to navigate, partly because they usually require detailed applications and proof that an influencer has the reach and influence necessary to maintain an audience. With over 1 billion users uploading videos daily, it’s no surprise that apps like TikTok are prime places to find content creators looking to grow their reach. However, due to the nature of these platforms as social networking sites, first and foremost — monetization options are limited.
Creators need an easier way to support themselves and the work they produce online; it shouldn’t be about eking out a barely surviving livable wage and should instead be about building a career.
Embrace Tokenization & Crypto
As online content creation becomes increasingly profitable, the need for tokenization becomes apparent. Tokenization is simply the process of turning an item into an NFT. Protocols like Ethereum make this process easy by allowing creators to upload their work onto platforms (called decentralized apps or DApps) that can make the minting process simple. In a practical example, an artist could upload her paintings through Manifold.xyz and launch her art on a fully verified, independent, smart contract she owns.
For an artist, there are a few advantages to tokenization:
Exposure: Tokens are publicly listed on decentralized exchanges and traded for other tokens or the fiat currency of your choice. This makes them a valuable business resource and extends your reach to a broader audience.
Security: The platform you upload your work to offers the safety of a smart contract that cannot be tampered with once uploaded. This protects your work and also makes it easier to sell when you want to.
Community-Driven: Tokens can be used to purchase exclusive content like live streams, meet and greets, or even personalized paintings. This allows you to build a close and supportive community around your work.
Tracking: Tokens can be easily tracked using open ledger and blockchain technologies, making tracking sales and managing your business easier.
Know Your Audience and Build a Brand
When you’re thinking about creating a new channel or website, remember that you’re not just creating a source of income but also building a brand. You’ll want to consider your target audience and what your message is to them. Will you be creating a channel dedicated to travel vlogs? What about beauty tips and tricks? Or are you a photographer who can’t wait to share your latest landscape shots? Each subject may have a different audience and will call for other monetization options.
Choose the Right Platform for the Job
You’ll want to choose the best social platform or app that fits your needs and goals. If you want to be paid for your work and want more control over its monetization, you might consider building your website or reaching out to one of the online content creation platforms that offer monetization. Some platforms like Patreon go beyond basic monetization and allow you to create a subscription service, allowing your most loyal fans to support your work with a fixed monthly payment; but they also take a significant cut of your income in fees, and they will censor and control your content as much as they can.
Other platforms like Medium or Substack allow you to put your work behind a paywall, so readers have to pay to access it. This can be a great monetization tool if you already have an established audience willing to pay for your content. But if you’re starting from scratch, it can be challenging to get traction.
Don’t Forget About Sponsorships.
Sponsorships aren’t only for athletes and beauty influencers. With brands looking to diversify and experiment with social media, you can capitalize on your following by reaching out to the right brands and asking for sponsorship opportunities. Start by thinking about the nature of the content you create, the art you craft, and your interests to get ideas for brands you might want to work with.
The world of online content deserves to be explored beyond its current limitations. With new technologies and innovations arriving each day, creators have plenty of opportunities to push their work forward and increase their profit. To engage with your audience and make money from your art online, you should start by embracing tokenization, knowing your audience and building a brand, and then choosing the right platform for the job. You should also not forget about sponsorships, as it’s one of the easiest ways to make money from your content. Finally, don’t forget that you’re building a long-term business and brand with your art, and you should use these tips to grow your business online.
Joan is a Web3 / NFT writer, angel investor, communicator, and creative director. She is the founder of the web3 marketing, PR, branding, and creative firm Studio Self, where she helps blockchain companies, founders and creatives communicate with humans. She is raising Metapunk Ventures, a Web3 venture studio, and building MODA DAO and Emanate.