How can our site earn revenue?
For ten bucks, I'll tell you. ...Which is actually an example of one possible revenue stream: selling intellectual property. You can also consider charging a fee if you have an especially compelling, valuable service to offer; selling products on your site; and, of course, the most common way of securing revenue, advertising. You need to think carefully about how monetizing will affect the tone of your community, but if it's right for your project, you could end up doing very well. (Bear in mind that at some point, you're no longer running just a community - you're also running a business, and that has its own demands.)
And don't forget the other ways your social media presence can earn a return on your investment. They may not show up in your balance sheet as revenue, but the trust, relationships and good will you build with and among your users can be more valuable in the long run than any banner ad.
In tough times, blogs have to pull their own weight. Here's how they can do it - starting with the way blogging can put a personal face on an organization, which is the first step to building relationships and trust.
In this second part of a 10-part series, find out how blogs can earn their keep. This post, we look at the value of the feedback you can get from your blog's readers.
Your social media presence is helping you engage with your supporters... but maybe it could be paying its own way, too. In the second part of this series, we look at how the intellectual property you create and distribute through your Web 2.0 project could become a revenue stream - along with some of the pitfalls you'll want to avoid.
In the third part of our look at how your social media presence can earn your organization some money, we look at advertising: how to use it, how to weigh ad revenue against the possible impact on your online community, and possible alternatives.
It's not for everyone... but if your social media site offers compelling enough value to your users, you may be able to start charging them. Here are some guideposts and warnings if you decide to take the plunge into the fee-for-service web.
What bake sales once were to PTAs, online storefronts are to today's non-profits. Your online community members can also be customers... customers who may be delighted to spend their dollars in a way that supports their values and your work.
How can non-profits find the money to pay for sites that can be costly to build, and just as costly to run? The kick-off post in a series looking at how your social media presence can start earning your organization some real income.
Widgets have exploded in popularity, partly because they integrate so nicely with profiles on social networks like Facebook and MySpace. And one of the most intriguing ways to use them is to turn your site's visitors into fundraisers on your organization's behalf.