One smart way of monetizing content is to put it behind a pay wall and make users pay you to get into it. But will anyone pay? And is this really a smart content monetization strategy for your kind of content?
Whether or not you can make money from subscriptions to your content depends partially on the quality of what you’re offering. Is what you have up really worth paying for?
Just as important, however, is whether there are very many people who want your content. Then, of course, there’s your marketing skill or the skill of the person or company you hire to get the word out. Many good subscription content ideas have failed because word of them never reached those who really care.
For subscriptions to be a viable way of monetizing your content, you need:
- Valuable Content. Subscriptions are only viable as a revenue model if your stuff is really great. Lots of site owners don’t get that. So honestly take inventory of what you’re offering and what you will offer in the future with an eye toward whether it’s worth paying for.
- A Large Audience. You’ll only get a small fee, in most cases, from each subscriber, so how many do you need to make the project viable? And you’ll need a salesperson or marketing guru. Ideally, you need an audience in place from another part of your company before starting a subscription service and shouldn’t depend on starting the service to bring you an audience.
- Something For Free. Get best results by making a wide array of things available for free, then charge to get more information on those topics. This so-called fermium opportunity allows you to build an audience of freeloaders, then turn a select few of them into paying customers that are willing to put their money where their content comes from.
Lots of content is worth looking at if it doesn’t cost anything, but very little of what’s out there is actually worth paying for. Is yours?