Use the right tools to exponentially boost your online success
Getting serious about monetizing online means knowing that nothing happens by magic or blind luck. Its all about using data analytics with the right tools
The following guide is made for people who already have an on-going and successful online presence, an engaging follower audience and are looking to exponentially boost their profit margins.
The guidelines detailed in here are based on the best practices to create and consistently grow any online business. We frequently update this article in order to give you the latest information on how to achieve a profitable social media brand.
This is the second part of Monetization Series, you should read How to Make Money on Social Platforms first
You got to where many dream to get one day, leading a successful career creating your own content on the Internet.
In this guide we give you proven ways to consistently and predictably multiply your online success and profit margins in order to not only make a living out of this, but a real business that can grow as big as you work on it.
Get some coffee and lets get started, we are diving deep into the secrets on how to get this done!
1. Categorize your online resources
These are your business assets, we are going to categorize them in a way that reflects their business value.
In this category we refer to all the content your followers love and look after. This is what has created your follower base and thus becomes the main source of traffic income for your business.
Accounts on social media that become your first contact with your target audience.
Their value depends heavily if you have full ownership over these accounts.
It is important to note that the real owner of your account is the platform that hosts it, therefore be sure to diversify on backup accounts in case things go bad with the companies behind them.
- Deviant Art
- … or any other platform that hosts your content publicly under an account.
An online website that you own, hosted on a domain that belongs to you and that you have full control over its content and how it behaves.
- Hosted websites on shared hosting plans like GoDaddy, HostGator, NameCheap, Hostinger, etc.
- Sites hosted on your own virtual server like DigitalOcean, Linode, Microsoft Azure, Amazon AWS, etc.
- Sub domains that host a website under it, giving you full control over its administration.
You may have a simple landing page for receiving visitors that follow specific links in order to entice them to get something in exchange for information (their email, a comment, a survey, etc) or money by directly purchasing a product or donating to your content creation.
- Landing pages in your website or in someone else’s site.
- Donation profiles like Kickstarter or Patreon.
- Online stores that host your products under an account like Shopify.
Services & applications
These are pieces of software or offline services that you directly have ownership on. These generate a profit one way or another from qualified users.
- Mobile Apps on Apple Store (iOS) or Google Play (Android).
- Web Apps hosted on your own virtual servers or physical data center.
- B2B (business to business) and B2C (business to consumer) professional services on online and offline platforms.
Ordering and prioritizing your resources will give you a clear pattern on what to publish where, from general to really specific content aimed at only a segment of your follower base.
2. Get the key analytics
Its time to start tracking the precise behavior of your online resources to get a real-world measure of their profitable value.
Use this data to plan ahead on what content to keep investing time and money on, as well as getting to know what markets to push further in, untapped potential consumers and the overall success (or failure) of your resources on different platforms.
Using the right tools for this has the highest priority over everything else, because your resources will age with time and their returns will diminish, however good quality resources can be recycled and the best ones will keep on giving for a long period of time.
You need to be able to have all this data as concise and easy as posible to take real business decisions in a short time.
For this, you need the following tools as mentioned in our How to Monetize Content on Social Media:
Link shortening, to get link activity data
Website activity tracking, to get visitor feedback
- Each platform features a limited set of data you can also use, this is ideal for fine tuning your content on those specific accounts.
Once you have everything appropriately monitored, we can proceed to the next step.
3. Exploit your online real estate
Sounds fancy but it’s quite simple, your online real estate is whatever is under your control to present your content to your audience in your own way.
These are the following:
- Description & comments section on social profiles and published content.
- Social profile description.
- Website posts, pages and content.
- Online stores product descriptions.
- …and basically anywhere you can post links you can track online with the previously mentioned tools.
The way to exploit them is simple, post links to content that will funnel your followers into the way of potential customers by enticing them to interact with your profitable network of profitable resources.
Tracking all these links appropriately is paramount to avoid confusion or miss on vital data on aging resources when deciding to invest time and money on them.
A few guidelines
- Once you prioritize your profitable resources, publish them with the same order across all your channels.
- For example: Publish your online store and contact information in your profile and description of all your content, while only posting specific links on certain content when you believe your followers will most likely click on them.
- Create and stick to a certain format across all your channels and content, so all your description sections looks the same.
- Make sure its neatly organized, making your intentions clear about what you expect your followers to do with this information.
- Go from specific to general links in your description.
- Type the specific links that relate to that content first (like sponsored content or something they see in your pic or video) and then sort out the more general information like contact info, websites and other channels/platforms.
Following this will add value to your content increasing the traffic your external links and websites get by curious and interested people that click on them to find out more.
The next step is creating a sequence to filter and qualify your potential customers.
4. Create and monitor a funnel
You may have hear this term before in tutorials about online sales and search engine optimization tutorials.
We believe they lack one simple detail that can make the difference, being able to get data from your visitors as you funnel them to further optimize your filtering process.
To achieve this you will need external resources such as a website with landing pages or online stores that allow you to request something from your visitors, such as an email, to click a link or any action that will help you see if they interact with your content, before actually trying to sell them anything yet.
You also need to have this resource heavily monitored in order to get the data on where do your visitors come from. This will tell you exactly where to invest your efforts and in what content, giving you a razor-sharp insight on profitable revenue streams never seen before.
These are some funnel examples:
- A free gift in exchange for their email, filling up a survey.
- Pricing tables and find out which is the most clicked on.
- “Read more” on online articles that link to profitable content.
- Free trials for online services upon signup.
Using this techniques you will obtain valuable insights on what your potential customers click on and where do they drive way from your content.
With this, work on iterating upon the content that generates the most traffic to your external resources and increase the chances of getting potential customers without relying on blind luck.
5. Profit on escalating value offers
This is where your profit margins explode up. Grab more coffee.
Having a funnel in place and monitoring your visitor’s data will help you know what percentage of your visitors don’t get to your most profitable content.
This is a great information to have, because visitors that go through your funnels still showed interest, which means you can profit from it by offering a less valuable, but still profitable offer.
Lets picture this with an example
- You publish videos on YouTube about kid’s toys reviews.
- Your content is sponsored and you have a link to your first funnel in your description section.
- In your funnel, you have a big banner with a referral link to the store where they can buy the toy in the video.
- Below it, you have a small dialog asking for their email in exchange for a discount coupon for that particular store.
What you get from this is profit in two different mechanics:
- Sales commission directly on the advertised toy.
- Sales commission from clients using the discount code you gave them to purchase other toys in the near future.
All in one funnel!
Directing the right traffic to these funnels dramatically increase the chances of people purchasing something.
6. Find your success formula
By now you should have a pretty good system in place to monetize your very particular content across all your online resources.
Also, you would have created a brand wrapping all of your content and already got experience on how to handle sponsored content and products.
Additionally, you should also have a heavy monitoring on all your resources that yield invaluable data about their behavior over time and reflect their direct profitable value across the board.
This is when your online business becomes a real company.
Grab a tie, put it on and lets talk about multiplying your profits by defining your success formula and iterating over it.
Defining the formula
Finding out your most accepted content yields the path to iterate over what people like about it. All the data you have been collecting gives you an idea on where to make precise improvements that make your follower base grow exponentially.
Lets say you review computer parts in your channel.
Make three similar videos about similar products, in each one use more time on different aspects of your review.
Then make the following questions to your collected data
- Which video description links got the more clicks?
- Which of those videos generated clicks that went though the funnel?
- By how much?
With this information you will know exactly what video formula to work on future content.
Keep doing this until you find the perfect content creation sequence that yields the most results for your online profit network.
The best part about ordered and segmented data tracking is that you can monitor as many resources as you want online, giving you free space to work on multiple projects and using the collective data to steer your business into a highly profitable road.
You can even experiment with new content types and formulas and find out with the collected data if it might be a potential new untapped market for you!
With this guidelines, you should be ready to go international and think about nationalizing your content.
7. Multiply your profit margins
Once you have dominated the game and create the perfect content that your audience loves, its time to think about globalizing your online reach.
To achieve this, you need to check your data to get the insights on what countries consume your content vs what languages is your content on.
Do you only publish content in English but a lot of people in India visit your content and click on the links provided? Make it about them!
Create content focused on them to show them you care.
This will leave you with two options:
- Later merge their preferences with your mainstream content and study the data about your general audience’s reaction. Let them know this is happening so they don’t get surprised about new things.
- If their interest conflict but the incoming traffic is good enough, you need to regionalize your content in different channels and funnel separately.
Keep doing this to expand your content in countries that will also love it as well as grow your business behind the scenes, hiring new people and expanding to international levels.
Let every single corner of the world know about your amazing content.
Wrapping it up
The formula to success lies on using precise information about your business to make success happen using specific formulas that boosts your content above your competitors.
Here in Tageri we have done this ourselves, we created our tool set to achieve a worldwide audience under one single analytics platform.
We offer a free forever tier that helps entrepreneurs like you get started with all your data tracking in one place.
The free tier limits only the amount of data per month you can store, however we give you all the tools fully unlocked to get started with your online growth instantly.
We want you to upgrade your account tier only if you start making money with the data it provides, plain and simple.