Episode #250: Monetizing Strategies
TAYLOR BRADFORD: You are listening to episode number 250 of the Boss Girl Creative podcast. Today I’m talking about pillar number seven, which is monetization strategies. On to the episode.
Hey, welcome to Episode 250 of the Boss Girl Creative podcast. I’m your host, Taylor Bradford. I’m excited that you’re here that you press play and holy cow, this is Episode 250. This is kind of monumental. I don’t think I ever thought that I would get to Episode 250. I don’t know that I ever predicted any of that. But we’re here. This is Episode 250. If you’re a brand-new listener of the show, welcome. If you’re a longtime listener, thank you so much for your support throughout the years. Yes, there are 250 episodes of the show. If you listen through the Apple Podcast platform, you’re only going to have access to the last 100, so you can use another podcast listening device to get back into the archives. You can go to bossgirlcreative.com and get to all of the episodes in the archives all 250. And there also is now transcripts of the show. So if you want to go back and review what I actually said in the show, there is a transcript attached to this audio. I think we go back up a ways but bear with us because this is kind of a time-consuming process when you have 250 episodes, so just hang tight, but each new episode moving forward does have a transcript. So I think we started about Episode 230-ish, and are going to eventually make our way back a little ways through the archives and just focus on moving forward. So that is there for you.
And yeah, we’re going to talk about pillar seven, which is monetization strategies. If you haven’t listened to the pillar series yet, this is my 8+1 Pillars, and in this pillar series, it’s specific to either building a new business foundation or rebuilding your business foundation, and helping you to have a solid foundation in order to grow your business brand.
So, pillar seven. Monetization strategies. I’m going to start off by saying we’ve got two truths here. Two truths. Number one, your blog is not a business; it’s a promotional mechanism. And number two, your blog doesn’t make money, your business does. Two truths you’ve got to believe because they are true. I got that from the Blog Marketing Academy. It’s some amazing truth. So it’s not just a matter of choosing some technique to make money with your blog. No, it’s not just a matter of that. Like if you build it, it’s not going to just make you money. Like, you have to actually have a strategy.
And to relate this even further, let’s think about building a storefront. If you were to build a storefront for your business, you’re not just going to create the shell and sit back and start thinking of ways to monetize No, you would actually bring in product; you would make it look nice, to be attractive to your ideal customer. So you can’t just blog and expect to make money. That’s not how it works. So we’re going to be talking about the different monetization strategies. There’s ten and then a bonus of 11. Because I don’t know that many people that do number 11, but I’m going to throw it out there for you just so you know that it exists as a strategy. So if you are building a business, one that provides products and services, then your blog is just another tool to market your actual business. So I’m going to be talking about these ten strategies and kind of relating how I’ve done things with Boss Girl Creative and Taylor Bradford Blog and also the brand new Ivory and Ink business as I move through these strategies.
Number two is information products or online courses. This would be anything you create and put into an ebook and sell it through like Clickbank or E-junkie or Gumroad. Those are ways that you can digitally deliver products to your clients. Or you can do courses. You can use a platform like Teachable or Thinkific. I started out with Teachable and moved to Thinkific. I think they’re both valuable tools that you can use to put courses behind or masterclasses or whatever you might want to put together. With Boss Girl Creative I do have courses. I do have master classes through the Thinkific platform. I’ve got an SEO class. I’ve got two masterclasses on diving in to figure it out what your what and why is. So those are things that I do have active with Boss Girl Creative. I never created an information-based product or an online course through Taylor Bradford because I did use Boss Girl Creative as that platform, and then Ivory and Ink, we’re not necessarily going to be creating information products or online courses through that brand.
So number one is a membership site or membership platform. This is where you put content behind a paywall, and content could be resources or special events or templates or courses, training videos, masterclasses, even content upgrade bonuses that only your membership receives to your regularly produced content. So a membership site can be very lucrative for you, especially as you continue moving forward and getting more people in. So I have a version of a membership site with Boss Girl Creative. It’s called the Inner Circle. I use the Patreon platform, which is more of a donation-based model than a true membership site or true membership platform. And it’s because I am using their platform. I’m not building a membership site through Boss Girl Creative’s actual website, so this is an option for you. And so the Inner Circle, I have two levels. I technically have three, but I’m not marketing the third right now. So level one to get access to the inner circle, it’s $10 a month, and it gets you into a private group. It also gets you into the resource library that I’m working on, and also a monthly live Q&A session with myself and the other Inner Circle members. And then, level two unlocks more value. You receive a Boss Girl Creative mug and a handwritten thank you note from myself. You also get access to my template library that I am adding to, and masterclasses are coming sometime hopefully soon. Since now, we’re in this weird state of Corona. I have a little bit more free time on my hands than I typically do, so I will be putting some focus there. You also have the monthly live Q&A that you get in level one, but you also get office hours monthly office hours where we can just chat through my Voxer walkie talkie channel. about your business. And then I also offer a monthly co-working session specifically for members at level two, and that’s $25 a month. That gives you an idea of what I’m doing based on a membership site or membership platform. Mine’s kind of a hybrid because I am using the Patreon platform, which is a more donation-based model. But you can do a membership site as a member or a membership platform for your audience through your own website. I’ve not done this with Taylor Bradford, and Ivory and Ink will not have a membership site or membership platform. So onwards we go.
Number three is services, consulting, and coaching is another monetization strategy. So I am a business strategist. And I do offer one on one coaching services, and we can either work together in 30-minute increments or a 90-minute increment of four sessions across six weeks and 60 minutes at a time, and I can work with you one-on-one to help you move your business forward. So that is something else that you might consider doing as a monetization strategy. Taylor Bradford Blog never had that because I did use Boss Girl Creative as that. And then Ivory and Ink. We will not be doing coaching or consulting through that platform.
Number four is affiliate marketing, which means you align yourself with a brand that makes sense for your business and sell that brand’s products to your audience and make a commission, and you can, you know, use ShopStyle, you can use RewardStyle. Then there’s all different kinds of other affiliate marketing platforms. I do have affiliate marketing podcast episodes that dive into the various affiliate marketing channels you can use. Taylor Bradford Blog still makes affiliate revenue. Amazon Associates is another great affiliate marketing channel. I still make money in my sleep through Taylor Bradford Blog and my affiliate links. And Ivory and Ink, we’ll also be doing some affiliate marketing just as another revenue source for us. And Boss Girl Creative, I do have some affiliate marketing I have through Libsyn, my audio host, and a couple of other things specifically geared towards my audience, but I don’t do a ton of affiliate marketing through Boss Girl Creative.
Number five is e-commerce sales. Actually selling a physical, tangible product or software. Creating software that people can use that aids their business. So think Meet Edgar. Think MailChimp. Think ConvertKit, that type of software. Something else you could create to monetize your business. I sell merchandise through Boss Girl Creative, and I don’t actively market that, but it does exist, and you can shop it through my website, or you can shop it through Etsy. I have mugs and tote bags and stickers that you can buy to support Boss Girl Creative. In the future, Ivory and Ink will probably do some collaborations on products with big brands and actually do like “so and so x Ivory and Ink.” So it’s a collaboration. Outside of that, Taylor Bradford, I never actually did any real-world product sales or software development. Now I have bought some URLs in the past with ideas to create things, but I’ve never actually moved forward with any of them. I just still pay for the com.
Number six is speaking. You can actually make money from speaking gigs. It’s not simple. There is some you know, got to get in the door and build up your speaker portfolio in order to start getting paid speaking gigs, but it is something to consider for another way to make money.
Number seven is banner advertising, and I still do banner advertising through Taylor Bradford Blog; that’s just simply placing ads on your website. Boss Girl Creative does not have any banner advertising; Ivory and Ink will have banner advertising instead. With Boss Girl, I sell advertising audio through the show. That’s the advertising method that I’m choosing to do with Boss Girl Creative. So I’m not running banner ads on Boss Girl Creative itself. But this is a great way to make money in your sleep, especially if you have a large amount of traffic coming to your website. This can be very lucrative for you. And so that is another option for you to do based on monetization strategies.
Number eight is paid posts or sponsorship with brands. Most bloggers know what this is like, a lot of businesses that have never dealt with this. This is another way to monetize your strategy. The simplest thing I can think of if you’re in the beauty world is partnering with a brand and launching their product with them and a paid advertising strategy. If you’re a book blogger partnering with a publishing house or an author and talking about their book prior to it coming out to the public, and getting paid for that. There’s different ways that you can do paid posts and sponsorships with brands. So definitely do some googling or reach out, and I can kind of help walk you through that. But you definitely have to disclose you have to disclose with affiliate marketing as well. So just make sure that you understand that Federal Trade Commission is watching and your affiliate marketing has to be disclosed, and your paid posts are sponsorships with brands. has to be disclosed. If you’re unsure about any of that, I can point you to some podcast episodes or just simply send me a message, and I can help walk you through that so that you don’t get yourself in trouble because it is federally regulated.
Number nine, freelance writing. Let me go back to number eight. So I have done paid posts and sponsorships with Taylor Bradford. This will be something that we consider with Ivory and Ink. But I haven’t actually had paid posts or sponsorships necessarily with the show notes of Boss Girl Creative. Again, it’s online audio that is advertising that I’m being paid to do. Gusto has been a longtime advertiser of Boss Girl Creative, and that’s kind of what that looks like for Boss Girl Creative.
Okay, number nine is freelance writing or content marketing. That’s actually writing for somebody else, getting paid to write for somebody else, not getting paid to write for your own website. So if this is something that you’re interested in doing is very lucrative. A lot of brands look for content writers or ghostwriters to create the content that goes out on their website. Freelance writing isn’t a great way that you can monetize. It does take some strategy, but it is another option for you to consider.
And then, number 10 is donations. Just simply asking for a donation to support your brand. I don’t see this a lot. I do actually with Boss Girl Creative have a Donate button that is in all of my show note pages. I don’t push for donations. Like, I’d rather try and give you more value, although the podcast is free for you to listen to, and there are 250 episodes that you can learn from at this point. So donation is always, you know, greatly accepted. From my standpoint. I so appreciate anybody that does choose to do that. But I don’t actively push for that. But you can put donations out there, ask for donations, or just simply stick it on your website. You can use a PayPal donation button charitable or a give platform to accept donations from your audience. And again, Patreon is the method that I chose, which is kind of that hybrid of donation and membership site. I just want to make sure that I’m providing more value to those patrons that are actually donating to Boss Girl Creative. So those are ten strategies.
Now I talked about number 11, that there were 11 strategies. Number 11 is actually building a business and selling it, aka flipping it. So building it up, getting the marketing going, getting those social media channels built up, getting a decent-sized audience, and then flipping it. I don’t know very many people that do this, but it is something that you could do to make some money. It’s more of a long game, though. So and you have to be very strategic about what it is that you’re going to build and what it is that you’re going to flip.
So those are some monetization strategies for you to think about. And how I utilize those monetization strategies in my own businesses or have used them in the past. So I hope this gives you an idea or gives you some food for thought on ways that you may not be making money, but you could be making money in the future.
Thank you for being a listener of Boss Girl Creative. Thank you for celebrating 250 episodes with me, so kind of a big deal. And Boss Girl Creative turns five this year in July, which is kind of an even bigger deal. And I probably need to come up with something to celebrate, cuz that’s a pretty big milestone in the podcast world. And so yeah, I appreciate you 100%. And for those of you that show up each and every week, thank you from the bottom of my heart. For brand new listeners, thank you for showing up and taking a chance on listening to my show. I so appreciate you. Until next week.
I hope you do have a great rest of your week. I know we’re in this weird time. We’re struggling. I’m struggling. It’s been hard, but trying to push through the best of my ability and I hope you are too. I will be hosting some live co-working sessions with the Boss Girl Creative community. I actually do have one the day I am recording this, but I will have those in the future. I’m also going to be hosting some live happy hours, virtual happy hour so that we could just hang out and talk with each other. And it’s not necessarily where I’m going live, but I get to interact with you guys as well. So stay tuned for that. If you’re not already in the Boss Girl Creative Facebook community, I encourage you to do that bossgirlcreative.com/community because that’s where I will be interacting with you guys, and I do interact with you guys. I’d love to see you in that group. Until next week, I hope you have a great rest of your week.