Success is very often unfairly weighted to a select few. Take a look at blogging and you'll see a few select names. Pat Flynn, John Lee Dumas, perhaps Neil Patel or the gents at Fizzle.co. Have a look at podcasting and you will see similar weightings. Empirically speaking, people tend to follow the people that others follow. We are sheep.
Attempts at beating the best often fail. However, a single guiding statement can change that ....
Don't try to beat the best. Be great and different than the rest.
You have to be good, that's a given. However, you can beat the greats by being different. Change the game dammit. With regard to monetization, keep an eye on up and coming strategies. Also look to other mediums like television, radio, magazines for strategies. Most importantly keep a keen eye for opportunities to provide value.
There is more to monetization than AdSense, Amazon affiliate marketing or informational products. Here is a monetization strategy that is working right now and waiting for someone to dominate.
Lead generation is a huge monetization strategy that is not apparent to most. In a crowded world it is extremely difficult to bring eyes to products and services. This is why affiliate marketing - a form of lead generation - works so well for some businesses. Affiliate marketing is most often applied to products.
A deeper look into lead generation reveals potential for service businesses. Typically there is fierce competition amongst the providers. Also the service can be of a high dollar value. Therefore, a qualified customer is very valuable to the service providers and they will pay dearly.
As a bonus we do not require significant traffic to reap significant income since the dollar value per lead is high. For example, a head hunter often earns 10% of the yearly wage of a successfully "placed" candidate as a fee. Thus, an engineer with a yearly wage of $110,000/year will result in a fee of $11,000. I have personally earned $1000 for providing a head hunter a lead that lead to a "placement".
The more qualified the lead the more it will be worth to the service provider. Therefore one must take the steps to acquire the information. This can be as automated as a multi-stage sign up form. This can also be accomplished by simply asking interested followers for resumes for a certain position.
Lead generation will require phone calls. I find it absolutely hilarious that most online business people are terrified to communicate this way. Service providers are easy to find and a great place to start is AdWords. Perform a search and find service providers that are already paying for leads.
Be intelligent about lead generation and model it like a service itself. It is very cumbersome and difficult to track which leads result in a transaction for the service provider. Thus charge a monthly fee for a certain amount of leads or a certain percentage of leads that you generate. This allows you to offer leads to more than one service provider.
Wrap It Up
Lead generation is a great strategy that far too many overlook. It also has a great potential to drive revenue because it provides real value for somebody.
Let me know how your experiments with lead generation are doing. Also let me know if you enjoyed this article, I would be happy to elaborate with more monetization methods.
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