Kind: captions
Language: en
hey everybody welcome to another episode
of startup Theory today I am going to be
covering how to
monetize uh Facebook page social media
page of any kind all right so this is a
question that um I get asked a lot I run
a fairly popular Facebook page what's
the best way to create a profit through
advertising and sponsored content um so
I take maybe an a typical approach to
this and my whole thing is give away as
much information as humanly possible and
the reason that I say that is that's how
you're going to build a big audience and
at the end of the day the thing that you
monetize is uh a large number of people
much more so than you want to try to get
like every dime that you can out of each
person I think in today's social
environment trying to monetize people to
early is a sure way to make no money um
and so I am literally trying to give
away all of my secrets to people as
rapidly as humanly possible and I do
that because I want people to understand
that I'm sincerely interested in getting
them what they want and not charging
them for it and then creating a
situation where there is in my view
something that is physical that is a
good that I can sell to that community
that would resonate with that community
that meets a need for that Community or
reinforces the ideology of that
Community rather than trying to make
money off the content itself now that
doesn't mean that there aren't some
pretty incredible ways to monetize um
the content that you're making and I
think the best example of that is
creative live which was created by the
famous photographer Chase Jarvis and
what he said was basically I want to
make all these courses available I want
to make them all free and so we do that
and as they create the courses they have
certain air times that they play and if
you watch them during those air times
then you can see them for free as many
times as you want but on the schedule
that they air if on the other hand you
want those same courses but you want to
watch them on your time schedule maybe
you want to put them on repeat and just
watch them over and over and over then
you have to pay for that and that's one
variation of the freemium model where
you get something for free but then
there's other premium content that you
have to pay for I think it's a very
strong model to be clear my model's a
little bit different in that there's no
differentiation between the free and the
premium it's all free um but we do
monetize things like in-person meetups
um we do have a store on our website
where people can buy merchandise and I
believe that merchandise is the real
play um because we're in the world of
content creation and then we're also
incubating companies so the companies
all have a product that they sell so it
is a a hard good an edible good you know
something along those lines if you think
about Quest Nutrition it's uh it's food
items and so that's what people buy um
so all the content that we were creating
we are giving away on impact Theory um
all of our social content is free
meetups are one of the things that we
monetize um and then on the store side
obviously everything in the store is for
sale and we make money there as well and
then we are going to be although we're
not right now they'll be very
interesting to see when you watch this
because maybe by the time you watch this
we actually are um putting out
traditional narrative content um which
is all centered around ideology and then
gives us like Disney Studios gives us
the ability to then merchandise things
from that story universe and so that's
how we look at monetizing it um if you
look at Tim Ferris has maybe a more
standard model where people come to him
to watch his show the show has
advertisers has sponsors and he makes
his money off of that that's certainly a
very acceptable way on podcast and you
can certainly let advertising run um on
your Facebook group you can use
sponsored posts and do shoutouts on
Instagram um and these are relatively
big universes uh to get into but I'll
just quickly say that that's something
that people do a lot on Instagram is hey
you've built up this account let's say
it has um 100,000 or 500,000
followers people that are sort of
like-minded trying to build an account
will ask you to take one of their quote
cards or one of their images and do a
shout out and usually it's a flat fee
for that or you can sell them in bundles
five 10 shout outs whatever cost you
know say 500 bucks whatever the case may
be it's all a tier based on how big they
are and what your ask is and whether the
content stays or whether the content is
posted and then pulled down but that's
also another way but at the end of the
day what you're really monetizing again
or the eyeballs it's the number of
people so if you're going to um sell a
shout out on your page for somebody else
they're going to pay in direct
proportion to the number of people that
are on your site so then the question
becomes how do you build those up uh and
if you haven't already built that up
it's all about value it's about really
creating an authentic account that you
really believe in that you feel
passionately about and you put it out
there and you grow that account
organically I just can't stress that
enough that's how you're going to build
an account that lasts and that
advertisers are actually going to um be
interested in advertising with and then
the last way that I'll talk about is
becoming an influencer and using your p
page to popularize yourself and then you
can become an endorser for products so
um if you know think about Tim Ferris
again um he's promoted like meundies uh
Lewis house has done a mattress and some
other things where they find a brand
that they really love that they use in
their real life um and then they let the
people advertise on their podcast
because something that they actually
believe in um and is a great way in
today's age to be a social influencer
for a product that you believe in just
be very careful about pouring yourself
out uh for products that you don't
believe in because your community will
stop trusting you so it's really got to
be stuff that you actually stand behind
you're actually using in your real life
um otherwise you're just going to get
eaten alive by the crowd all right that
gives you a surface understanding if you
want to go deeper into this be sure to
follow me at at Tom Bilu we cover this
and more all across my socials so that's
b i l
ye I will see you on the interwebs and
until next time my friends be legendary
take care