Six Proven Ways to Monetize Your Expertise

If you’ve been around the ‘make money online’ bloggers for any period of time you will have more than likely heard the expression “position
yourself as the expert” or “become an authority”. It’s just common sense right? If you’re the expert in your niche of course people are going to throw piles of money at you.

Or maybe not.

Being an expert is one thing, but monetizing your expertise is another. If you’re giving away free content everyday people are just going to take and take until you have nothing left.

If you want to make money from your expertise you are going to have to put something out there that isn’t free: a product. I don’t mean a product as in something physical, more so something you can sell.

Here are the most popular options:

e-Book

e-books are a great product for people just starting out because they cost very little to produce and you can sell an infinite number of copies.

An e-book doesn’t have to be as long as a real book, the price just has to represent the value of the information inside. When you are just starting off you can probably expect to charge around $30 for your e-book. However if the information inside is very valuable there is no limit on how high you can price your e-book.

Coaching

Coaching can be a very lucrative business depending on your niche and your level of expertise. Coaching sessions don’t have to be face to face either, most people are happy with a phone call or a video chat over Skype. Coaching rates range from $50 an hour to over $250

Training Course

Training courses are the next step up from e-books, these are perfect for when you would like to teach your customers in a more interactive environment such as audio and video.Become a Blogger, Blog Masters Club, are both examples of successful training courses that have sign up fee’s ranging from $250 per person to over $500 (and have attracted hundreds of customers)

Private forums

If you have a large audience a private forum may be the right monetization model for you. Forums are a great way for like minded people to connect and share knowledge in a private environment, and people will pay for this privilege. Private forums are usually charged on a monthly basis at between $20 and $50 a month and can easily attract hundreds, if not thousands, of users.A recently launched private forum that a lot of people are buzzing about is Third Tribe Marketing.

Seminars

Seminars are basically an event put on by one or more of the leading
experts in a niche which have a high entrance fee and a limited number of spaces. The reason seminars are so exclusive is because they are usually where the latest “secrets” or techniques are shared and a great amount of networking can be done. A seat at a leading seminar usually costs upwards of $5000 and can be VERY profitable for the organizers.

Start today

If you do plan on monetizing your expertise, I can’t recommend enough that you start today. Maybe write the first draft of your ebook, or maybe film your first training video. It doesn’t matter what, just make sure you do something. I also recommend you to check out how you can make money flipping websites

This is a guest post by Danny Cooper. Contact us if you want to guest post on this blog.