Making Money

So You’ve Made A Community. Now Make Money Off It!

January 12, 2022
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As a community manager, you can come up with multiple ways to help your people make money and monetize the community.Find out different ways to do it.

 So You’ve Made A Community. Now Make Money Off It!
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“We have been in the knowledge and community business ever since the pandemic began. We wrote this book to share the process that took us from 0 to $500,000 in revenue - in less than 4 months.”
Abhinav Arora
CMO, Avalon
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Community Masters

Every community where people can make money will always be successful as long as new members who join have a chance to make money too. America is not known as the land of money, it is known as the land of opportunity. There's an important distinction between the words opportunity and money — opportunity means you have a chance to make money. Money means you are gifted cash. America is the land of opportunity, because you have a chance to come here and make money (hence become successful). Not every person who goes to the country ends up successful, but they all have a shot at doing so. Successful communities are often the same.

The opportunities

In our old Avalon community, we used a job board channel and a coin system to reward people. We didn't give out jobs, but we gave people opportunities to post them and apply to them. At least a hundred people (this is a very conservative estimate) found jobs from our community. These stories traveling social media are enough to get other people to join in the same hope. For some, these hopes end up in a real job, and thus the cycle continues.

Here are the opportunities to make money that every community can provide its members:

1) Job boards

2) Exclusive Coupons

3) NFTs (implied opportunity to sell them and make money)

4) Airdropped cryptocurrencies

5) Freelance gigs

6) Venture investments (finding investors)

7) Cash won via competitions

8) Gifts and giveaways

9) Fantasy sports and betting

10) Finance/crypto "tips" that allow people to pick the right stock before others (in the finance world, this is called "alpha") and r/WallStreetBets is a great example of this

11) Free cash

There are plenty more. It's up to your creativity as a community manager to come up with ways people can find opportunities to make money in your community. You won’t survive in the long term if your members aren’t provided with the right opportunities. If your community doesn't give them an opportunity, members will eventually gravitate to one where they can make some dough.

Many young community members are naïve enough to think that members will stay forever just for the vision and mission of the community. Sorry to burst your bubble, but we're all human. We can use our intelligence and stay connected to a larger mission for a while, but over time we will always fall to fear and greed.

Be there for your community members across the emotional spectrum. There are a number of ways to do it. Our team of community experts would love to help you find the best one. Connect with us today.

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