The Perfect Monetization Framework
Hello. Tim here.
I'm really grateful that you follow my newsletter. Thank you.
Sponsor
This week's issue is sponsored by Tim Stodz Consulting.
1. The Perfect Monetization Framework
A few months ago, Ethan told me about a framework he discovered that media companies use to monetize. It's a simple and obvious framework, but now that I know how it works, I see how brilliant and useful it is.
If you're building a digital brand or business, this framework will work for you. It doesn't matter if you sell a product, a service, or a combination of both. It works.
So what's the framework?
Step 1 - Publish Free Content that Monetizes Through Ads
Your free content serves two purposes. It is the mechanism in which you promote your products, but it's also the top level of your revenue streams.
Your free content should monetize through ads. You can do this in many ways. Some commons examples are ...
- monetizing your newsletter (see above)
- monetizing your free podcast with ads (see here)
- monetizing your YouTube videos with Google ads
Your free content should be a source of revenue.
Step 2 - Sell a Front-End Product
Your front-end product could be considered your "main" product.
It could be a digital product such as an ...
- e-book
- membership site
- course
or it could even be a service, such as your ...
- web design package
- main freelance writing package
- a logo design package
This is how you introduce your product to the world.
Step 3 - Sell Your Back-End Product
Your back-end product is expensive and exclusive. It's not for everyone, it's only for a select few who are "deserving" of access. This could be ...
- your high level mastermind (with limited slots available)
- your full blown consulting package
- your $10,000 a year exclusive CEO membership
Your back-end product will generate the majority of your profits.
Example
To show you that I practice what I preach, I'd like to use my own brand as an example.
- FREE - My newsletter is free and makes about $2500 a month with ads (and climbing)
- FRONT-END - The Bootstrapper is $99 a year and I'm currently making about $2000 a month
- BACK-END - My consulting firm currently generates $16,000 a month
This model changed the game for me, and it will change the game for you too.
2. Thoughts On Podcasting, Newsletter Ads, (And $3k+ Per Mo. On 15k Subs)
On this week’s episode, Ethan and I talk about podcasting, how to stick with it, and how to keep it easy.
We also discuss ConvertKit’s new ad network, other players in the market, and how you might use these if you’re building your own newsletter.
Click here to listen to the episode and read the show notes.
3. How to Find Your Unfair Advantage
November 2nd 2022
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I try to avoid posting my own twitter threads in my newsletter, but I feel this week is an important subject that not enough of you appreciate.
You all have an unfair advantage, in that you all have personal experiences. You have a unique way of viewing the world. You have a way of providing a service or product that only you can provide in the way that only you can provide it.
This is your secret weapon.
You want to EMBRACE your flaws, your vulnerabilities, and your story. It's the secret to avoiding commoditization.
Click here to read the full Twitter thread.
Sponsored
4. Want Me to Build Your Business For You?
Copywriting and funnel automation changed my life.
Before I knew how to write funnels, I would to do all the sales myself. When I learned how to apply LEVERAGE though automation, I learned how to make the technology do the sales for me.
Do you have a product that you struggle to sell? Maybe I can help you sell it through high level automation.
5. Why Do I Wake Up So Early?
Yes, I am one of those people.
I wake up at 4:30. I take cold showers. I lift weights. And I tweet.
But, I feel that waking up early gives me one important and distinct advantage over everyone else.
6. Elon and Twitter
As you know, Elon bought Twitter. I have a few short comments.
First, I don't know why everyone is so angry. Twitter hasn't generated a profit for 20 years. What are you so angry about?
Second, a monthly subscription is absolutely the best way to monetize Twitter and will bring a level of legitimacy to the app. Twitter bots are awful, and they get worse the bigger your subscriber base gets. Every other software product we use has a monthly fee. Why do people DEMAND that Twitter should be free?
Third, I highly recommend you get on Twitter. Once these bots are gone, the conversion numbers will skyrocket.
I don't have a personal opinion about Elon Musk. I do have an opinion about the future of Twitter. My insight is that Twitter will become the most useful platform for entrepreneurs. You'd be a fool to sit on the sidelines.
7. Tone in Writing to Build a Loyal Audience
Tone is an aspect of writing that helps a reader understand your unique point of view on a subject.
If you use the social web at all, you probably see someone put their digital foot in their mouth virtually every day by making poor word choices.
Add to that the fact that there’s a political or potentially controversial subtext that can be attached to almost any statement, and it starts to feel like a minefield out there.
Fortunately, we’ve got handy writing techniques like word choice, story, and connotation to help us master tone.
Because when you get the tone right, you start to resonate with the perfect audience for your product or service. Then your content can really start to shine.
8. There's Nothing Good About This
This video has no business being on my newsletter. It has absolutely no value. There's nothing to learn from this video. There's no motivation or business advice at all.
But it's one of the funniest things I've seen all year. I hope you watch it 10 times in a row. It gets funnier the more you watch it.
Click here to watch the video. It's so stupid.
9. How to go Viral Online
Ethan and I are talking about this video today on the podcast. It will be available next week.
I'm a fan of Henry's work. However, my problem with viral thinking is the same as it's always been.
WHO. CARES. IF. YOU. GO. VIRAL. IF. YOU. DON'T. MAKE. ANY. MONEY?!
Sometimes I feel like one of the few entrepreneurs who actually wants to get rich.
The name of the game is profit, not views.
I'd rather my video get 100 views and make me $10,000 than my video get 10,000 views and make me $100.
What do you think about Henry's framework to go viral? Hit reply and let me know.
10. Final Thought - "I Discovered a Huge Personal Blind Spot"
I've made all my money through writing long form content. SEO has given me a life I never could have imagined. If I had to give someone one piece of advice in life, it would be to "write every day and publish it on a website you own."
But, the last two years have opened my eyes to other forms of marketing. Social media and short form content has been something that I scoffed at, but I'm starting to see the light.
I like having rock solid strategies. I like plans, timelines, and measurement on my results. I like doing things for a reason and I'm very uncomfortable with the idea of simply putting more content out there.
But there's a flaw in my thinking.
Over the years, my success has narrowed my vision on what's possible. I've convinced myself that my way is the only way, and everyone else doesn't know what I know.
Last week, in the "Final Thought" section of my newsletter, I wrote about having a beginners mind. I am trying my best to approach this philosophy to everything. I'm trying to reevaluate the absolutes in my life. So here's what I did.
A simple experiment that made me $14,000 a month.
This week, I decided to try something.
I decided to send an email to my Stodzy list.
You have to understand, my Stodzy email marketing strategy is highly technical and completely automated. I've spent years designing the perfect automation and lead generation system.
This week, I thought "what would happen if I simply tell a story?"
The result: 3 leads, and 2 "one call closes." One deal is for $10,000 a month (plus about $150,000 a month PPC spend) and another deal is for $4000 a month.
Between the SEO and PPC, that will be around $9,000 a month in monthly profits.
Not bad for one email.
This is another example about how experts have blind spots. Experts think they are experts and so they don't give themselves permission to try new things. But the truth is we are all figuring it out as we go along.
I want you to understand this lesson and give yourself permission to experiment, fail, and continue learning.
I love you guys.
Talk to you next week.
Tim