How to Monetize a Small Audience?
Many new (and even seasoned) bloggers wonder how big their email list has to be and how much traffic their blog needs to have before considering putting up a product for sale.
A common misconception bloggers, as well as any other entrepreneurs, have is that they need a big audience before selling anything. As a brand new brand, there will be some struggles receiving sales with a tiny following, but there are ways to monetize with small audiences!
Meet some clients who have successfully monetized small audiences:
Melissa is a blogger, as well as my sister. Melissa is extremely productive, and had a very successful go with her Pinterest strategy. Her niche is Minimalism for Moms.
Melissa’s blog was about 5 weeks old, with 15 posts when she had started her Pinterest strategy and launched the blog. Right off the bat, Melissa was making $5 – $10 in ad revenue daily! From Pinterest, Melissa received a lot of virtual assistant clients and later shifted her focus on to them. Within 2 months time, Melissa was matching her full-time salary with her VA gig, with the ad revenue on top of that! The key to Melissa’s growth is what I like to call “Income Stacking” – which just means she was open to all opportunities of monetization.
Rachel was an amazing candidate for selling high ticket offers.
It is great to use a blog when selling low-cost offers, because you are now dealing with a volume-based business. Using a blog for high-ticket offers can be useful to grow your email list, but is not absolutely necessary. A better tactic for high-ticket offers would be to “social sell.” With social selling, Rachelle was able to get to almost $14,000.00 in sales within a month’s time!
Dawn blogs at A Girl In Her Jeans. She used both her email list and social selling tactics, and with essentially no audience, Donne was able to sell her $125.00 offer X 4.
I have a very specific way of social selling, so that clients don’t feel like they are spamming their friends/audience.
Market research is vital to monetize a small audience!
Some clients I have worked with (who have small audiences) have tried to do a beta launch and social sell, but didn’t see results. A few reasons these tactics may not have provided any results include: messaging style, your mindset and consistency regardless of your results.
One of my clients had a pretty small email list and wanted to sell something early on in the program before doing any market research. We decided to do the social selling/beta launch route, but received no sales.
Since then, we have implemented more market research into the Monetization Accelerator Program to assist clients with smaller audiences with a market research process to validate their offers without an existing audience.
The messaging tactics can really be difficult without this process. Obsess with your potential customers, ask a lot of questions so you can target topics that are in high demand!
Having a good mindset really plays a large role when social selling to a small audience.
It can be challenging to believe you can make sales when dealing with a small audience. In order to sell something you have to believe it will sell and know that it is worth the sale. Sales is about transferring your belief to your buyer. If you don’t believe in your offer, people can feel that lack of confidence and won’t be confident in purchasing.
Consider timing as a factor of not seeing results.
Sometimes you have to just give things time. Marketing always works eventually, so stay consistent!
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These tips for how to monetize a small audience will give you a great start.
If you focus on market research and mindset, and give yourself time, you will be on your way.