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The First Step to Monetizing Your Audience

So you’re a service provider (dog trainer, cupcake maker, videographer, content creator, Facebook ad consultant, etc), you have a community that you’ve built on social media (no, I don’t mean you have to have 10,000 followers. This could be a community of 50 people), and you want to monetize it by teaching what you do. Awesome!

In this series, I’m going to tell you the strategy you’ll need to do that.

Let’s get straight to it. The first thing that you need to do (and the topic of this article) is to get specific.

Since you want to monetize the community you’ve built up, you are going to need to create something to sell. A lot of you want to create a course. Good news, I will be teaching you a way that will free you to create any product you want later on in this series. For now, you need to know this super important piece of information:

You should create products and services with one specific person in mind.

If that’s confusing, don’t worry. That took me a long time to understand, but once I figured it out it made perfect sense and made a huge difference in my business.

To explain this concept, I’m going to tell you about Jane. Jane is a real estate agent who has built up a following of 300 people on her Instagram by posting tips on how to sell houses. All of these followers are interested in selling houses for a variety of reasons. She’s decided that she wants to teach people how to sell houses to get away from trading her time for money in her real estate job.

Jane decides to create a course. She thinks of everything that has to do with selling a house and spends hundreds of dollars putting a course together to teach all this amazing information. She goes to her social media account and posts that she’s created a course on how to sell houses.

She’s surprised when she sees her DM’s full of questions:

“Is this for real estate agents or people who want to sell their own home?”

“Do you need experience with sales to do this course?”

“What kind of houses does this course cover?”

Jane starts to realize that she hadn’t really thought about any of these things. She had simply put together things she knew about selling a house.

So she does what most people in her situation do and tells her audience that the course is for everyone. Beginners, people who have sold houses before and want to sell more, real estate agents, non-real estate agents, people who wanted to flip houses, etc.

She’s super happy to see that her course is selling. Out of the 300 people she’s built up on her social media, 32 of them buy.

That happiness lasts until she starts getting customer service emails.

“This course is way too beginner level for me. It’s great information for beginners but I thought it would be more advanced. I’d like a refund.”

“This course is way too advanced for me. I’ve never sold anything in my life and haven’t heard of half these terms. Please refund my money.”

“There’s only one video on flipping houses — I thought the course would have more than that. I want a refund.”

“Why is there a video on flipping houses? I just want to know how to sell my house. This course is scattered. How can we arrange for me getting a refund?”

Jane’s heart drops and her mind starts racing. How is she supposed to please everyone? One person is complaining it’s too advanced, the next is complaining it’s too beginner level. One is complaining that there aren’t enough videos on flipping houses, the other is complaining that there are too many videos on flipping houses.

The reason that Jane is having this problem is because she was not specific in who she was creating a product for. She wanted to create a course that would please everyone, so she sprinkled pieces of everything she knew about selling houses into the course. It turned out that she didn’t really please anyone.

So what should Jane have done?

Imagine that you’re Jane. Do you want to help non-real estate agents sell their family homes? Or would you rather help real estate agents sell more houses every month?

Are you going to help your target audience sell more houses a month? Are you going to help them gain more confidence when closing deals? It’s extremely important to know what result you are confident in getting your target audience.

To be able to monetize your content, you need to attract the people who you are creating a product for. If you’ve been posting a variety of content to try and attract as many people as possible, now is the time to narrow down and post things related to the result you decided on in step 2 — specifically for the people that you will be creating for. If you’ve decided that you want to help real estate agents, it’s time for your content to speak directly to those real estate agents.

Why? Because when you post about the product you’ve created, you want your audience to be full of the people who it’s going to help.

Creating content? It should be for your target audience. Creating products? It should be for your target audience. Going on live? Talk to your target audience.

Let’s imagine that Jane had done all of this.

She decided that she wanted to help realtors that were trying to sell their very first house. She started being more direct about this on her social media, giving great tips for realtors who wanted to sell their first house. This brought more of those people to her page.

As she does this, she works on her course. Since she knows that she is helping beginner real estate agents sell their first house, it’s easy for her to work backward from that result and create a course specifically for beginner real estate agents who have never sold houses before and want to sell their first.

Once that course is finished, she goes to social media and tells her audience (which now consists mainly of beginner real estate agents), “Hey guys, I just finished my course on selling your first house. It’s for real estate agents who have never sold a house before and want to sell their first. Who’s interested?”

She’s not shocked to find that the people who buy her course are the people who the course was created for.

When she opens her customer service email, she sees emails saying the following:

“I just sold my first house!”

“Everything is so clear now!”

“It’s like you made this course for me. All of my questions are getting answered in this. Thank you!”

Much better. Her target audience is able to get results since this course was created with them in mind and Jane is happy to see this.

In conclusion, the more specific you are, the better an outcome for everyone involved.

In my next article, I’ll be writing about how to create the key to creating any product or service with ease.

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