This week we looked at the pros and cons of monetizing your business, when and how to monetize, and the forms of monetization nowadays.
When thinking about monetizing my brand, I went back to my business iteration to take a look at my possible revenues streams, key partners and value propositions. I definitely think that in the near feature, if I put in a not of work and effort to my brand, I could be successful in its monetization.
I would rely on Google ads, subscriptions and premium subscriptions, and affiliate advertising. I would include premium memberships for exclusive coupons and tips, paid ads on my weekly posts, and include links. Not only that, but one of my my goal would also be to monetize my Instagram account, so that I could attract more people to my website. Yet I do admit that I have little knowledge about monetizing social media accounts, therefore this would be something I would plan on doing further down the road.
When it comes to key partners, I would aim on building partnerships with travel agencies, local universities, trip advisor blogs, hostels, and transportation agencies.
Lastly, the only thing I need to sort out is not being scared. Whenever the word monetization comes up, I tend to not be that confident with my brand. Monetization for me is synonym of success and professionalism. Which even though I may think I am really far from, if I work hard enough, I believe I can accomplish it.