Strategies to help Communities Make Money as they Grow?

(Finman) #1

Hello Friends,

Do you know of any strategies to help communities make money over time? I am helping develop a community for an industry association that relies on its members for revenue. This was traditionally done using tiered membership fees and conference fees. However, in creating the community to allow increased sharing of information across members, asking for a fee may deter participation for something so new. Is this a common dilemma when trying to create a culture of knowledge sharing?

(Gear Buzz) #2

Do you feel the participants will accept their activities might generate income?

Does it need to make money? Or does its existence enhance the association?

What industry? Can you give us a clue?

(Sarah Hawk) #3

It’s about perceived value. What are they getting in return for their fees? Information that they can’t get anywhere else? Access to experts? Networking opportunities?

Have you considered advertising or sponsored content in place of a fee?

@patrick’s free ebook might give you some ideas. Monetizing Online Forums.