Monetize Your Knowledge And Build Online Community 2022 : The Ultimate Guide

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In this article, we’ll figure out if you are an infopreneur, and discuss with you how you can monetize your knowledge and build an online community.

How Can You Monetize Your Knowledge and Build Online Community

“Knowledge alone is not power. The sharing of our knowledge is when knowledge becomes powerful.” – Rich Simmonds

Knowledge or expertise is something you already know or something you are great at doing. It comes from lived experiences. And can be on any topic: from leadership to entrepreneurship, or cooking to singing. Eventually, every creator or instructor plans on channelizing their knowledge by commercializing it, to start earning revenue out of it.

Monetize Your Knowledge And Build Online Community

Selling your expertise by teaching courses or training students who are hungry for knowledge on a particular subject that is accessible anywhere and anytime is the main purpose of online community-building platforms.

The growing e-learning market for online courses is estimated to reach $457.8 Billion by the year 2026. With that kind of income potential, there’s no reason to avoid getting involved in this industry. 

While we all already know that digital is the way forward, the question that arises for you is – Is the road to creating your community through e-learning bumpy for you? Or, is it clear in your head?

There are plenty of benefits of an e-learning course. A few discussed below will help you understand it better.

Benefits Of Creating An e-learning Course

  • Start earning money as your passive or primary source of income.
  • You get the freedom to work on things you enjoy doing.
  • Get valuable feedback from your people and learn along the way.
  • Saves you a big-time on the setup cost as it is usually low.
  • Create richer content, resulting in better community interaction and overall development of your course.
  • Upsell or cross-sell your prospects.

Online communities are in an upswing and are considered to be very valuable in bringing people together who share common interests, visions, and values. These communities can consist of people who actually live closely together in the real world or reside many miles away.

…But, What Is An Online Community?

It is common for people to confuse social networks and online communities, and don’t realize that both are not necessarily the same. Social networks are places where you aim to network with other people, but an online community is more focused on specific groups. 

The concept of an online community is to have a group of people who interact with each other online and are held together by a common interest or purpose. It is also believed that people in an online community are more likely to have meaningful conversations.

Online Community

In addition, online communities can be private or public, opened or closed, as well as free or paid.

But let’s be honest, building a community can be tiresome. You have to invest yourself constantly in bringing value to the table for the network of people and to keep engaged over the long haul with what you have to offer if you want cash flowing in for you. But is the road that steady?

Do you often wonder how you can render your knowledge and skill into a feasible product that you can market out to an audience?

Or, if there even is an audience out there for the expertise you are planning to offer?

A lot of questions can pop up in your mind when you are thinking about monetizing your knowledge, especially if you haven’t already done the work of building an active community.

But before we begin to set up the community as a money-making potential, you need to set up your community space, making sure that people associated with you in this learning process are involved enough.

3 Steps To Take Before You Plan On Monetising Your Community

1. The inflow of Valuable Content

It is important to keep adding and providing value to the audience to build a community. To provide that value, make sure you’re creating useful content relevant to their interests frequently.

Graphy can be helpful in this case with its content scheduling functionality, which allows users to launch their drip course content to make it available over a period based on enrolment date or fixed date.

2. Become The Leader of Your Team

You need to put your sleeves up and show up for your community as a leader.

People will expect a safe and respectful space where they can all come together to learn, share, and grow. You need to lay down some ground rules against hate speech making sure people are using the space appropriately.

3. Engagement of Your Audience

The main purpose of a community is to maintain the involvement of the audience. You need to get them interested in your content and give them a reason to listen to you.

The engagement of your audience base matters just as much as the size of your community. It is thus a very essential factor when you are deciding to monetize your community.
GraphyGraphy allows its users to engage with in-app community features like in-built group chat options, important announcements, session reminders, and notifications.

What makes it even more interesting is the fact that Graphy can help you launch your app in which users can interact among themselves, ask doubts and share their progress in real-time, making the most out of the online community.

An active online community helps in creating more valuable relationships with the audience. You can be assured that as your community grows, you as a brand grow with it.

How can you sell your knowledge?

We have collected the most effective knowledge or expertise monetization strategies just for you.

Once you think that you have set up a good community base, and you are confident enough to start making money from it, you can consider the following methods to capitalize and begin making profits today.

1. Create and Sell Online Courses

Video content these days is considered to be incredibly popular. Many people find it engaging and insightful. Online courses allow you to advertise your expertise, earning decent profits every day pretty easily.  Make your course content more engaging and unique with some pro tips your way :

Image of tips to create more engaging content –

  1. Maintain a good narration
  2. Add interactive videos
  3. Encourage interactivities >

Do you think you have mastered a skill?

In case you think you do or you don’t, Graphy is your ultimate destination for creators like you. All you need to teach a course is to know more than the people you’re teaching and to be able to present this information in a way that people will get value from.

Graphy is a white-labeled learning management system created to design a tech solution empowering the online education sector. Graphy helps you to create, market, & sell your course online. It allows you to have the liberty to access pre-recorded videos, online live sessions, PDF files, cheat sheets, and assignments in a hybrid format.

2. Offer a Paid Subscription Plan

A fun question: How many subscription products or services do you use in a day? Pretty sure the number is higher than you realize.

Most businesses these days are offering subscription models to focus on building a community of groups of people who share a common interest. The subscription-based model of an online business creates a sense of belongingness, where a business charges a recurring fee for its services and products for exclusive benefits either monthly/annually.

When you subscribe to this type of membership, you will receive perks and rewards instead of exclusive content.

So what makes a subscription model so appealing or successful?
Well, quite a few advantages :

  • Better customer relationships
  • Revenue expansion and prediction opportunity
  • You can earn more through up-selling and cross-selling

For customers, it is pretty convenient and personalized, and for companies, it is the predictability of revenue expansion and retention that helps.

3. Host Webinars Using Your Expertise

In today’s competitive market, live webinars are an effective way to interact with your audience and share information with them. Audiences attend these live webinars with a thirst for knowledge and useful information that they may miss out on otherwise.

Hosting a live webinar creates a great sales opportunity as well. Create a visually appealing landing page for your audience to participate, set one up for free today!

Graphy FeaturesConduct live classes by integrating services like Zoom Meeting, Zoom Webinars, and YouTube Live Streams with Graphy today.

You can also enable live chat and upload a thumbnail for your live session. But makes us believe that Graphy tops this up is the fact that there’s no limitation on the number of students you can add.

So, seamlessly add unlimited students to your live sessions at a time. Let the stumbling blocks stay away!

4. Sell Your Digital Products To Your Community Members

The internet has changed so many things in our world.

Digital products in this era take a whole range of different forms. E-books, videos, and podcasts there are a bunch of things people subscribe to. But one thing that has changed along with this constantly changing era, is the way people read these days. 

Both ebooks and Whitepapers share knowledge, and if you are smart enough you can just find the right strategy for yourself to keep your bag always full of rewards. E-books are books but in a format where they can be delivered or downloaded online. 

Ebook

You can either write them yourself or hire someone to write them for you. Whitepapers on the other hand convey less technical information than e-books. Although, the latter now sell in the millions each year.

Selling these digital products to your audience will not just drive sales revenue for your business, but also will provide you with data that can be used for remarketing.

Great, now that makes you an Infopreneur! According to H. Skip Weitzen in the year 1988, an infopreneur is simply “a person who identifies opportunities for creating and enterprising information-based companies, providing target-based information to customers, mostly through the internet”.

The e-learning market is on its way to reaching a 457.8 billion dollar valuation by 2026, which makes it the right time for you to grab this opportunity now and make the most out of it.

Do you think you have an eye for details or colors? So beauty for a photographer like you is everywhere? Or, is it that you have the right taste tense and you can pinch out the missing ingredient every time you bake wonderful brownies? Do you make music in your spare time?

If you have a passion, a skill, or knowledge, don’t let it pass for free. You can use your skillset to create an online business around it.

Are you already a full-time creator or an instructor? Have you always wanted freedom in teaching your students? Freedom from geographical restrictions?

Creating an online course gives you location independence. Businesses are working around this idea and their ultimate aim is to provide creators like you, the freedom they deserve, and it would be a very smart move to begin today.

Still, Confused About Where To Start From?

Become An Infopreneur With Graphy Today!

Everyone knows that they have something to teach the world, but it’s possible because there are others out there who want to learn what you have to offer.

Graphy in such a case stands out as the best choice for a community-building platform as they offer more native features than any other platform out there. Create online courses within your website and Graphy app, host live Q&As, respond to assignments, answer emails, and engage with your students.

They also offer a ton of marketing tools, along with revisiting your course periodically and updating it time to maintain relevance and earn more revenue.

…But don’t try too hard on selling with your prospectus

When someone joins a community online, it is not usually necessary that they will join with a purchasing mindset. Whenever you think of marketing your knowledge to your prospects, you need to be very clear and subtle about the way you proceed. You can not be too brashy. 

Well, it is not entirely a bad attitude to have but if only you realize that you won’t get through marketing your knowledge by being too hard on them. People will withdraw from being a part of a community if it just becomes about sales.

The main reason why they joined the community in the first place was that they wanted valuable information and to build up a connection by being a part of it. But if you are being too pushy, it may turn them off, eventually resulting in them withdrawing from continuing with you.

Therefore, whatever you decide to do for monetization, make sure it fits your community and that what you’re selling is something they’ll want.

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The Final Takeaway

Of course, we are observing a dramatic rise in online courses, masterclasses, and digital training. The industry is flourishing at an unexpected speed, especially since the hit of the COVID-19 pandemic.

I also understand that launching a business online can be a huge commitment for you, but if you have the expertise, don’t overthink about course creation.

In case you do decide positively about it, do it in the right way – it should be about adding value and creating initiatives your members would want to pay for. Whether you are a beginner or a professional instructor and content creator, begin your journey with Graphy today.

Graphy Pricing 

A full-featured LMS platform that allows professionals like you to create their businesses from home.

Explore hundreds of impressive features that it has to offer – create and manage effective training courses, drive sales, leads, build email lists, or run cohorts, check your student’s knowledge with exams, and generate custom certificates to keep them motivated too.

But well, if you still have questions about course creation, you can go book a demo today to understand it better. 

Well, I think if you’ve read this far, then you hopefully have enough information to make up your mind.

And I am sure this will help you figure out not just how you capitalize your knowledge to build a community of your own, but will also allow you to provide a plan to explore your unleashed potential as a creator.

Darin Darin

I am Darin Casner founder of Burlington Social Media Day. Here I help people finding amazing productivity tools and software to solve their daily business-related needs. My aim is to educate the readers so that they can use the right tools to grow their business online.

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