Making Money

How Can Community Members Make Money In A Community? (8 Strategies)

January 12, 2022
 | by 
·
min read

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.

How Can Community Members Make Money In A Community? (8 Strategies)
Also read
The Unexpected Alternative to TalentLMS (Hint: It’s not an LMS)
The Pitfalls Of Running Your Community On A Social Network (In 2022)
Running A Cohort-Based Course Can Make You Rich (2022)
Pick A Real Community Platform Instead (Circle.so Alternative 2022)
Top 4 Platforms To Run A Cohort Based Course (2022 Comparison)
Jump to
Community Masters - The ultimate 377-page community building guide | Product Hunt
Get the ultimate 377-page community building guide
You can have it for free now - it's 377 pages, but you'll get through it in a breeze (because it's super actionable).
“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
Community Masters - The ultimate 377-page community building guide | Product Hunt
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 to make money for community members

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 in your community

Job board is a great way to help your community members find jobs in the domain your community is in. For example, if you run a trading community, you can post trading gigs on the portal related to trading jobs. Even members can post gigs and help each other out.

2) Exclusive Coupons for community members

Exclusive coupons mean you can give some discount coupons or passes to an event to your members. You can provide these in a giveaway kind of format.

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

NFTs are exclusive tokens you can grant your members. You can create community-exclusive NFTs which can rise in value as the members trade them in the future. Holding an NFT can also grant exclusive perks to your community members.

4) Airdropped cryptocurrencies

It involves delivering tokens to the wallets of members who have a crypto wallet, either for free or in exchange for a task that they have to do.

5) Freelance gigs

Just like job boards, freelance gigs can also have a separate channel in your community. Freelance gigs are one-time projects or contract-based work with a defined scope.

6) Venture investments (finding investors)

In your community, there will be people who want to start up or have an idea. You can host an event with some investors in your network for these people.

7) Cash won via competitions

Hosting competitions with a pre-defined cash prize is also a good way for members to participate and earn some bucks. It is a win-win for you too as it will boost community engagement.

8) Gifts and giveaways to most active community members

You can always award gifts like merchandise, pizzas etc to your most active members. This also acts as an incentive for other members to be active in the community.

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.

Free
The Ultimate Community Building Masterclass
Watch the masterclass

Read next in the Module

10 Easy Ways To Monetize A Community Using Job Boards (2022)

Job boards are a great way for you to monetize your community. Generally, they make money by charging a fee to both candidate and the recruiter.

Start Reading

The Ideal Time To Generate Revenue From Your Community

How can you go about monetizing your online community? When should you do it? What should you keep in mind before monetizing ? Read on to learn more.

Start Reading

How Can Community Members Make Money In A Community? (8 Strategies)

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.

Start Reading

Why You Should Integrate Cohort Based Courses In Your Community

Cohort-based courses provide P2P and collaborative learning environments for your community members. They also help with community monetization.

Start Reading

How To Monetize Your Community (2022 Top Tactic)

Monetizing your community by running ads is a great idea. You get paid to share them and also get great content to share with your members.

Start Reading

Want to create a sticky community experience for your business?