the SPARK ~ #128 Creative MonetizationApril 27, 2023 May 1, 2023 /
When it comes to adding revenue streams to your business, the ideas are limitless.
Lack of ideas is rarely the issue for most entrepreneurs. It’s usually a lack of time or skills (or both).
By default, we think of revenue streams as:
- Products (yours or affiliate products)
- Advertising (sponsorships)
Today I want to talk to you about thinking outside of the box.
Creative Monetization – My Own Example
I get asked multiple times a week to be an affiliate or if I’d be interested in taking a look at someone’s product (to use & promote).
We all know I love my tools, but to take time away from what I’m focused on to promote something for someone else with the hopes of a commission?
It’s rarely worth it.
Recently, the affiliate manager for StellarWP reached out, asking if I’d like to be an affiliate for them.
They have Kadence, Events Calendar Pro, LearnDash, Restrict Content Pro, iThemes, GiveWP, and Iconic.
Quite the line-up, right?
I responded with a unique proposal (if I say so myself 😉).
I’m starting to look at sponsorships for my newsletter(s), so the timing was perfect. My suggestion was that they sponsor the newsletter (this one), and in exchange, I’ll also create some content for them.
Normally, sponsorship doesn’t include any sort of content creation, but I figured it was a win-win: They get the ad spot and content created, and I get paid and create relevant content for my site.
In getting paid, I wouldn’t use any affiliate links.
Long story short: We’re meeting in the middle.
They proposed half the fee I suggested and a higher affiliate commission (plus, I get a one-year license to the plugins).
I’m also incorporating this into my “build in public” experiment.
*If you’re new here, I’m revamping my brand (copy, messaging, content, and theme) in public with the help of AI. You can follow the specifics of the AI journey here.
Accountability works great for me, so announcing this, creating a schedule, getting access to incredible tools, and getting paid?
It was a complete no-brainer.
Where to start with Creative Monetization
As out there as this might seem, start with the things you most enjoy doing. I truly enjoy creating content and connecting with people.
I used to do a lot of live streams in my Facebook Group (Content Creators), but that wasn’t the best use of my time – unless I was doing it to highlight my own products and services.
Once you’ve determined what you love doing, make a list of the obvious options. Again, products (yours & affiliates), services, and advertising.
Advertising is going through some serious challenges and changes… sponsorships are getting more and more popular – but not many people are creating ‘hybrid’ models like the one I mentioned above.
What if you included sponsorship + a solo email broadcast instead of content?
Or a custom social campaign + sponsorship?
As your audience and email list grow, you’ll have more leverage, but you might be surprised at what you can do today, exactly where you are.
Start small and work your way up.
I’m doing a 3-month collaboration with StellarWP, hoping to turn it into something long-term, provided it’s a win for both of us.
And don’t be shy.
My last request when we were finalizing the details was to have a conversation after the first month to make sure it was a fair exchange and revisit the agreement if necessary.
If this interests you, let me know, and I’ll do a more in-depth post.
Spark Spotlight 🔥
This is definitely a HALLELUJAH. It’s about time. 😂
I have been waiting for years (literally), for Gravity Forms to come out with a conversational add-on that operates like TypeForm.
I just downloaded this and will be implementing this asap.
Featured Articles 📝
✔ Instagram is bringing more links to the “link in bio” feature. Take a look at how easy this is to add to your profile.
✔ A new favorite on Twitter, Jens Lennartsson shares the “3 Ways Your Brain is Stopping You From Growing Your Newsletter.”
✔ At one time or another, we all need to do what we can to re-engage email subscribers. Read, “How to Set Up a Reactivation Campaing to Win Back Inactive Email Subscribers.”
Tool Time 🛠
Believe it or not, I still found some non-AI tools to share with you (if you’re looking for more info. on AI, subscribe to my brand new “build in public” experiment: The AI Marketing Chronicles here).
- Organization: a visual way to organize your ideas and projects. Use xTiles free here.
- Podcasting: turn your audio file into an article, transcripts, show notes, and social content. Get CastMagic here (lifetime one-off price!).
- Testimonials: I’m working on getting this set up for an easy gathering of testimonials. Use Senja free here.
- Video: I’m looking forward to seeing what this comes up with. Turn your long-form content into video. Try Pictory free here.
AI Insider 🕵️♀️
World Builder: This is just fun. Unsurprisingly, I created my own “Harry Potter-style world.” Create your own world 3D world in different styles. Try Blockade Labs free here.
Follow: There’s a newsletter for this account, but it looks like most of the updates happen on Twitter. Follow AI Daily here.
Tool: Create a landing page in 60 seconds with AI. I haven’t tried it but it looks pretty simple. Try 60sec.site for free here.
Another Tool: Find, share, and collaborate on prompts. Lots of great prompts. They just launched on ProductHunt, so give them an upvote and check it out (zero cost!).
I have been having a ridiculous amount of fun lately.
There’s something magical that happens when you get in alignment, trust your gut, and get to work.
When these times of inspiration show up, I sort of let go of needing “balance” and simply follow the flow.
Obviously, I take breaks, get outside (AMEN for sunshine!), and get plenty of rest… but I don’t stress about working too long or picking up my laptop at night.
At this stage in the game, I know enough about my processes to trust what’s happening. Plus, I’ll be heading out of town next week to meet a couple of girlfriends for a handful of days and will get plenty of balance then.
Here’s to trusting the process.