If you’ve built a community, it’s not always immediately clear how you will make money.
Here’s 4 ways to do it:
1. Ads
If you have a very large community of millions of people, like Instagram, or a small premium community, let’s say for home cinema systems, then Ads might be a good option. However, they don’t work for most communities.
2. Digital Goods
Selling skins, items and access to content is very common in gaming, such as Fortnite maker Epic. But you also see this in large communities like Reddit selling NFTs.
3. Events
Access to conferences and smaller events can drive premium membership sales within your community. You’ll see this commonly in small, curated communities like those targeting corporate executives.
4. Data Reports
Selling reports on the behavior of your community can drive premium membership sales internally and also to those who want to sell to your community. Gartner and other research firms are good examples of this.
Best of luck out there.
Sterling Road invests in idea stage and pre-seed B2B startups based in the US, Canada and UK.
