There’s a new wave of full-time creators, including consultants and freelancers. With that, we have seen multiple Income streams for ambitious marketers.
Nearly half of the creators in our survey started building their audience in the last two years, and this new wave of creators is entering an established industry. 39% of creators work on their business full-time, and in the past year alone, 15% of creators left ”traditional“ 9-to-5 roles to pursue their creator business professionally. (The State of the Creator Economy)
In today’s fast-paced digital landscape, less truly is more, especially when considering income streams. Surprising, isn’t it?
Yes, new and shiny can be captivating, but focusing your energy on one idea at a time is the key. In fact, it’s tempting to throw everything into multiple baskets. But, let’s pause, breathe and ask ourselves, are we truly maximising the potential of what we have right now?
We’ll delve into versatile income streams tailored for the modern marketer and freelancer. Moreover, as a bonus, we’ll spill the beans on managing brands that have multiple offerings, just as we do.
Digital products & offerings
The epitome of modern business efficiency, digital products exist entirely online, eliminating the fuss of physical handling and offering unlimited replication.
- From online courses to templates, stock photos, comprehensive meal plans, dynamic workshops, swipe files, or virtually anything that allows you to make a ripple effect without having to spend more time on it.
- Experience scalability, enjoy minimal ongoing costs post creation, and harness the infinite array of opportunities tailored to both your unique talents and your audience’s demands.
Subscriptions & paid memberships
Introducing a rhythm to your revenues, this model invites your audience to invest regularly, assuring them of consistent value.
- Paid memberships come in all shapes and sizes these days. From curating paid newsletters, offering exclusive content gateways to nurturing a premium community.
- Subscriptions have the bonus of bringing recurring income, plus the fortify your community’s bond, and deliver enduring value to your dedicated subscribers (which means you build loyalty too).
Professional services
Showcase your unique skill set, serving individuals or businesses with your specialised offerings.
- Whether it’s crafting words as a freelancer, cracking code, imparting wisdom through consulting, guiding journeys in coaching – the world is your oyster.
- Not only can this be a premium offering, but it also paves the way for profound client relationships and allows for a tailored touch in your services.
Affiliate marketing streams
Earn while you endorse, championing third-party products or services that resonate with you and your audience.
- Recommend products that inspire, suggest transformative tools or weave sponsored content seamlessly with affiliate links and build your own affiliate strategy.
- Yes to the potential of true passive income! By showcasing products you love, maximise the engagement of your existing tribe, and augment your content palette without the pressures of product creation.
One off advertising
Convert your platform’s visibility into revenue by displaying third-party advertisements that resonate with your audience.
- Feature banner ads on your curated newsletters, integrate sponsored content seamlessly, or offer prime ad placements within your videos or podcasts.
- Advertising and partnerships can lead to great opportunities, but they require management and coordination, especially as you are building your reputation. Simply get started by working on your own media kit.
Creator collaboration
Merge forces with fellow creators, pooling together talent and resources to produce groundbreaking content or products. You can even tap into networks like ConvertKit’s Creator Network and get paid to refer creators!
- Co-host transformative webinars, craft collaborative courses that merge expertise, or make memorable guest appearances.
- Expand your horizons by accessing new audiences, share the responsibility and joys of creation, and introduce diversified content that breathes fresh energy into your platform.
Brand sponsorships
Engage in long-term relationships where brands will pay for genuine promotion or representation.
- Engage in heartfelt sponsored posts, create content infused with brand messages, or lend your authentic voice for endorsements – stepping into your “creator” hat.
- Brand sponsorships are a very unique beast, so thread carefully. When getting started, it’s worth identifying the changes and expectations shift in the creator industry.
Donations & tips
Allow your super fans to show their appreciation directly, supporting your journey and fostering deeper community ties.
- Introduce digital tip jars, inspire support with “Buy Me a Coffee” links, or other direct appreciation avenues.
- Receive heartfelt support from your audience, offer a low-pressure monetisation avenue, and cultivate an atmosphere of mutual respect and community spirit.
Mastering the promotion of multiple income streams
Before we go all guns blazing with multiple streams of income, let’s, navigate ways to bring your products to the masses. Here’s a glimpse into our strategy, and perhaps, it could inspire yours:
- Cyclical Promotions: Think of this as the four seasons, each with its distinct flavour. We meticulously plan our year, focusing our energies on different offerings each quarter. January through March might see us championing our online courses, while the April to June stretch could shine the spotlight on our membership. It’s about giving each product its time in the sun.
- Crafting Customer Journeys: Put yourself in your audience’s shoes. Start with a simple yet valuable product, like templates. Then, seamlessly introduce them to the next stage, such as our student community memberships. The goal? Ensure each step addresses their evolving needs and adds undeniable value. And when they’re nestled comfortably within the membership fold? Offer them a golden ticket to our marketing certification.
- Organisation is Key: A promotion dashboard (like our Notion OS templates) is your trusty compass. Plan meticulously, allocate monthly focuses, and bid adieu to the paralysis of indecision. Dedicate time to produc content aligned with your monthly highlight, ensuring a consistent message throughout.
- The Evergreen Strategy: Beyond cyclical campaigns, it’s vital to establish a continuous promotion engine. Imagine a storyline where your potential customers are the heroes. Craft their journey meticulously, ensuring each interaction brings them closer to their goals.
Understanding diversification
In the constantly evolving realm of digital marketing and freelancing, diversifying one’s income isn’t just wise, it’s essential. Yet, as we’ve journeyed together, it’s not just about having multiple streams; it’s about strategically promoting, nurturing, and refining each one.
Every avenue, be it masterclasses, online courses, or affiliate marketing, offers unique potentials and challenges. As we embrace these channels, remember: success isn’t just in the launching, but in the sustained effort, the cyclical promotions, and the tailored customer journeys.
In fact, let’s not chase the next shiny opportunity; let’s master the ones we have, maximise their potential and pave the way for a brighter, more prosperous future in the world of marketing and freelancing.
Ready to get started with positive impact marketing?
Set up power marketing systems build a marketing strategy that drives results, when you join our certification.
Develop an advanced set of marketing skills that drive more measurable results to any project and harness the power of psychology, purpose, storytelling, and impact to build trust in an increasingly skeptical world.
Take our certification, build your marketing plan and build your ultimate marketing toolkit.
