The Business Of Community Part 4: 7 Ways to Increase Your Revenue Through Community
Powerhouse Women
Lindsey Schwartz
4.9 • 912 Ratings
🗓️ 29 November 2022
⏱️ 26 minutes
🧾️ Download transcript
Summary
Welcome to part four of the The Business Of Community series! In this episode, I'm breaking down seven solid ways that you can monetize community and use it as a strategy to add more revenue into your business. I address some of the common misconceptions about building a community aspect into your brand, particularly around the platforms that you can use to do so.
I dive into the strategy behind selling products, explain how to weave in affiliate and influencer marketing, and share my advice for getting the most out of an in-person event. I also talk about how to approach podcast ads and paid mentorship.
In this episode we talk about:
- Creative revenue streams that don't require you to reinvent the wheel
- Rethinking community outside of the Facebook group container
- Ideas for physical and digital products that you can offer your community
- Why I love having a tangible experience for my community
- The #1 thing to be really intentional about when you're promoting a product or service
If you loved today's episode, please share your favorite takeaways or your own systems and processes by screenshotting this episode and tagging us on Instagram!
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Transcript
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| 0:00.0 | Community is about the connection. It's the connection, yes, between you and the people in the |
| 0:07.6 | community, but it's also the connection between those people to each other. Welcome to Powerhouse |
| 0:15.6 | Women, the podcast for women who know they are ready for more. I'm Lindsay Schwartz, your host, and the founder |
| 0:22.9 | of powerhouse women, and together we'll unlock the confidence and clarity you are looking for |
| 0:28.9 | to help you get out of your own way and into action around your next big idea. |
| 0:46.4 | We are back with part four of our business of community series. And this podcast series has been so much fun to create for you because when people look at the growth |
| 0:51.9 | of powerhouse women, when they see what we've been able to do, |
| 0:54.7 | the results that we've been able to have in the community that we've grown, it really all |
| 1:00.0 | comes back to this simple fundamental that we've always prioritized building the community |
| 1:06.7 | ahead of anything else. It is our number one business strategy. It's our number one focus. |
| 1:15.5 | And when it comes back to community, there are so many different ways that community can help |
| 1:22.5 | you make more money in your business. And that's what I'm talking about today. I'm going to break down |
| 1:27.9 | the seven different ways you can monetize community. And there's probably more than these seven, |
| 1:33.9 | but seven solid ways that you can use community, monetize community to help you add more revenue |
| 1:39.9 | to your business. And it was interesting. I just came out of a mastermind retreat, the final |
| 1:45.7 | mastermind retreat for the group I was in this year. And we had a chance to talk a lot about |
| 1:51.8 | community. And we were sharing with the group, what we were working on, Hannah and I, and, you know, |
| 1:56.8 | just sharing a little bit more about this community builder's mastermind that we're creating. And here we are in a room with really, really successful business owners. I'm talking |
| 2:06.3 | like multiple seven figure business owners. And to see their response to what we were sharing, |
| 2:13.1 | our philosophy around building community, their minds were blown. We had so many questions. |
| 2:19.6 | We had people asking us to come and speak and teach their teams about this because it's not |
| 2:24.3 | the conventional way that a lot of these people have built their businesses. And it's so cool |
... |
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