There was once a time when the term ‘marketing’, meant placing an ad in a newspaper, utilising word of mouth, or providing a free chocolate in the hope that someone would buy the box.
Of course, these traditional forms of marketing are not yet obsolete they have evolved into something bigger, greater, and more profitable.
The old quote ‘knowledge is power’, has inspired businesses worldwide to utilise what they have sat around in filing cabinets, old notebooks, and even stored in their minds – information.
Today, you don’t need a physical product to make a profit, but you still need something that customers would pay to own.
When it comes to marketing your knowledge and information, there are many ways that you can proceed. However, looking at the top, and seeing where success has already been found with marketing and monetisation, is one of the best places to begin.
Here are the top 5 ways that modern businesses are marketing knowledge and profiting from their information.
1. Provide a Free Taster
The chocolate to chocolate box scenario is tried, tested, and incredibly successful. Over the years, this has made its way into the digital world, and once more, it has proven to work a charm.
If a customer doesn’t know that a product is good, they’re unlikely to make the jump and buy more – one example of quality can go a long way.
This marketing technique is being utilised by companies worldwide, particularly those where information can easily be categorised and divided.
An exciting, intriguing, and thought-provoking article introduction will ensure customers want to continue, where the paid aspect of the information can be introduced through a subscription or pay to view service.
2. Expand Your Mailing List
Email marketing is not dead. Email marketing is very much alive for the savvy marketer. Once you have subscribers, you also have another vital tools of marketing information – a mailing list. Another oldie, but certainly a goodie.
Little snippets of information designed to attract viewers to more significant pieces of information is a great way to provide a sense of value for money. Instead of expecting customers to come to you, bring the information to them.
When attention has been captured, it can easily be used to introduce new information, and further sources of knowledge. This also allows you to test the waters, see which information gains the largest response, and which data needs more work to become profitable and attract a larger audience.
3. Make Full Use of Online Platforms
The final method of marketing and the monetising information requires us to look into the future of cryptocurrency and knowledge sharing and how businesses will be using platforms.
The way that information is being exchanged is quickly leaping into an entirely new era, utilising one of the most revolutionary innovations of recent years, block-chain technology.
A new purpose for the technology, created by Knowledge.io, puts a measurable value on the exchange of information.
The platform introduces a modern world, where sharing and profiting from information can be achieved in a single environment, giving people further reason to find, share, and sell knowledge.
4. Diversify Your Information
While knowledge may be power, regurgitating the same information is simply repetitive. If you attracted your original audience through unique, creative, and high-quality information, then this becomes an expectation.
As soon as the quality diminishes, the reception is also likely to lessen.
Providing a steady stream of quality is essential, which starts with understanding your audience – what they want and why they want it. The need to satisfy customers is a vital part of monetisation, whether you have a product, service, or information.
5. Invest in Physical Products
Despite seeming like a step backwards, from digital to physical, it can be an beneficial way to earn profit through your information. There are examples all around you of businesses who specialise in information branching out into physical information.
From video content creators who create branded products and bloggers who expand their online information with books, to companies that transform their information into courses, there are countless ways that you can transform and further the information that you’re already providing.
Video content creation has seen an explosion in the last twelve months and 2018 is shaping up to be the year where this medium takes control of the marketing arena.
If knowledge is power, then the value of that power is how well you utilise the knowledge that you have. In all shapes and forms, information has always been a valuable asset to have – it only needs to be put to good use!
For some further reading on monetisation ideas, check out these Marketing.com.au articles:
- Problogger: Introduction to Monetisation – Darren Rowse
- Making Money: The Secret of Making Money with Daily Deal Sites
- Harnessing The Power Of Pricing
Latest posts by David Trounce (see all)
- Time Management for Marketers - November 4, 2018
- Marketing Your Knowledge and Information – How to Sell What You Know - February 14, 2018
- Where Are Small Businesses Spending Their Marketing Dollar in 2017? - May 15, 2017