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by Trinity in General about September 12, 2011 open - report

Best ways to monetize a niche community

I am going to launch a social network website and earn money through it. I know the most common way to generate revenue is to allow companies to advertise on the site. But I would like to create small community with narrow focus and don’t want to overload it. What are the best options for community with 5K members? Will google ads bring enough income? Are there any other options to consider (premium accounts)? I'll be grateful if someone can share their real experience

Answers: 7  •  Score 0  •  Views: 3161

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  • 10

    by John about November 2, 2013

    i use credits, gifts, and badges all from hire experts, about 160 total cost.

    i installed creditsa, which in in effect, activity points.

    started a 30 day promo, peron with most points in 30 days get 200 bucks.

    at the end of the promo , i introduced gifts and badges, now members use the point on virtuasl gifts and are even buying points :D

    • Score: 0
  • 3

    by John Mattews about February 5, 2013

    If you want to monetize your SocialEngine community, then I'd say the best option is to have a look at the Virtual GiftBar plugin for Social Engine, which is free to use. 

     

    http://feeligo.com/giftbar/socialengine

     

    It will also help you increase engagement in your community, thereby driving more traffic to your network.

     

    You will get paid 50% of all transactions made by your members. With a community of 5K members, I would expect you to soon make upwards of $50 a month.

    • Score: 0
  • 4

    by DianeFeeligo about January 25, 2012

    Hello Trinity,

    I am new here and I was reading through the different questions members were asking and thought yours was quite pertinent for those looking to monetize through a niche community since there are so many nowadays.

    I am wondering how your niche community is doing since its launch. Were you able to monetize without having to incorporate Google Ads to your website and did the plugin Sophy suggested help you in any way!

     

    Looking forward to hearing from you!

  • 1

    by Chaos Nation about December 21, 2011

    You will need to establish the online community first which may require alot of online promoting and linking, etc.  Once you have return members and the content of your site increases, then you can start looking for advertisers who fit in with the niche of your site (like Gabriel mentioned).  I tried Google ads, but it didn't work for me, made very little money and I think people are so used to seeing Google ads on every site, they just skip over them.  I did use SE Add ons "advertising" plug in which is great to get started with advertising.  But now that I have a member base and content being added every day . . .I have been able to find advertisers that fit well with my site and are willing to pay for custom made banners that link to their website.  You must first have the members who use the site and new content everyday before advertisers will pay good for spots on your site.  And once you get to that point . . .the most professional looking banners are the ones you make manually and stick in your site using "html boxes" in Lay out!

     

    D.

    • Score: 0
  • 12

    by Gabriel Gonzalez about September 15, 2011

    It really depends on your niche. For example if you plan to create a community for moms it's a good idea to contact local stores for moms and kids. You can negotiate with them about special discounts for your community members (as example, 5%). And then you will offer a discount coupon. Also you can be their reseller and create small store at your website. Also you can suggest store owners place banners with their advertisement and you will get monthly income.
  • 121

    by Louise Wilson about September 13, 2011

    Hello, As Sophy Reid said socialengine-advertisements-community-ads-plugin is a good way to start. If you have the budget for google adwords do it, however you need to keep people interested, on your project/site to gain popularity, so that will help with ads and then money.
    • Score: 0
  • 32

    by Sophy Reid about September 12, 2011

    If I were you, I will concentrate on getting members first. I don't think you will be able to make money straight away after lauching the community. Do you already have the 5K members on hand? If not, how are you going to get them? Have you thought about this? If you already have the 5K members, then this plugin may be useful: http://www.socialengineaddons.com/socialengine-advertisements-community-ads-plugin
    • Score: 0
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    • Trinity
      by Trinity
      September 13, 2011

      Thanks for suggestions! I think I will not have problems on getting members. I already had forum for moms, but it was closed because it didn’t bring profits. I used Google Ads and understood it isn’t profitable. It didn't even covered server costs. In a s...  more

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