Why should I monetize my community?

 foreign why should you even bother starting to monetize your community today as a Creator you are providing a ton of value to your audience through your channel and the true the truth is in the long term it's just import able to sustain creating content and providing value and building a community without having some sort of income coming in to fund your operation whether it's your own time or whether it's your team's time and so it is a natural step that every Creator who starts building a larger audience does

 need to find a way to generate revenue and what we found at NAS dot IO is that one of the most long lasting and sustainable ways to generate Revenue is it from your audience your members and so one of the best ways to do that is to create a space for them where you can provide regular and consistent value for them to connect with you or to learn from you the second reason is that if you don't find a way to make money from your community you will be over reliant on Brands and other ways to make money which may take you away from the core

thing that you do creating content and ultimately for many of us creating content is what we love it's our passion and so being able to find a way to match our passion with making money is The Sweet Spot to be able to live and sustain yourself as a Creator if you're able to monetize your audience then you can devote more and more time towards creating content and serving them and so this is what a community can do and this is why we've been so focused at being able to help people monetize their Community

 let's tackle some of the myths myth number one you need a massive audience to make money from a community well the truth is after studying thousands of communities ourselves this is not the case for a community the value is not just the size of it but it's what happens inside as an example if you are a community of entrepreneurs if you just have 15 to 20 great entrepreneurs that are able to learn from you support each other and be able to network that can be way more valuable than having a thousand people

 who don't necessarily know how to build a company the second thing when it comes to earning is that you don't need tens or hundreds of thousands of people to be able to spend money on your community to earn a living in fact it all depends on what kind of product you build some communities built a high value product they can charge hundreds or even thousands of dollars and they have a small group of people and that creates a lot of value while other communities say I want to have a lot of people pay a small amount say

 three four five dollars a month and that's another way to create a lot of value and a sustainable business but as a Creator if you don't have a huge following then it's great to focus on how I can get a small group of people in my audience and create a ton of value for them as an example if you can get 50 people in your audience to spend a hundred dollars per month that will help you earn five thousand dollars every single month and that is a great Revenue source to start building your community on the flip side you may want to get 500

people to spend ten dollars a month and even on these numbers you can see that you don't need to have a million followers or five hundred thousand followers to start making significant Revenue which would take a lot more effort outside of your community to generate but as we think about how to monetize our community we need to start making an important distinction between who follows us who are our viewers and who are our core audience our community members and what are the differences you may ask an audience member who views your

 content may want to check in on one topic or one video maybe they've discovered it on their home feed but a Community member wants to continue to learn from you and your goal to build a monetized community is to find those people who do have a deep connection with you and your channel you can offer free ways for people to go deeper with you maybe you offer a free webinar maybe you offer an offline event different ways to capture who are the people who are most interested in what you have to offer once you can identify those people

 who respond to you that's when you can start narrowing down who is your target audience to build a monetized community so once you identify the difference between your audience and your potential community members the question is why bother offering them a paid Community why bother monetizing this audience in a community [Music] the first benefit is that it showcases your knowledge instead of just having a one minute vertical video to show everything that you know you now have a space where you can invest in different formats

 different types of content whether it be long courses or offline events or experiences a paid Community gives you the flexibility to try all these different things the second is that a monetized community allows you to generate funding which you can invest back into giving all different types of member experiences instead of just providing a video you can provide different levels of ways that people can learn and interact and engage with you and this can all be done by having those resources to really put into your

 community the third is that a paid Community gives you resources to invest in more content maybe you need another editor maybe you need a community manager to help you manage it but that paid community that income that comes from a paid Community can help you produce more for your audience the fourth is that a paid Community allows you to get members to interact with each other they don't need to just interact in the comments section but you can actually invest the time to give them a space to get to know each other and the

 fifth benefit which is not always so obvious is that when you do a paid Community the people that invest in it have a high intent to get involved and when you bring lots of people together that really want to get involved in your community you create an army of people who can make the community stronger get to know each other and also provide more value for all those members that will join in the future so in summary when you start a paid community and you start monetizing that income that comes in allows you to

 do so many things to improve the experience for your audience and to give you that platform to be able to take things to the next level