150: How to Know When It's Time to Monetize Your Influence

150: How to Know When It's Time to Monetize Your Influence

As you try to build more digital influence, you might start wondering when and how to begin monetizing your efforts. This episode provides you a number of different scenarios for both the different triggers which might indicate why you should begin to ask for compensation as well as calculating what sort of remuneration you should begin to ask for. This episode also includes advice for marketers who want to build better relationships with influencers.

Find out more about my upcoming book and the pre-order campaign here: https://nealschaffer.com/influencer-marketing-age-of-influence/

Key Highlights

[03:36] When To Monetize Your Influence?

[07:21] Recognizing When You Have Begun Yielding Influence

[08:32] Signals On When The Time You Should Start Monetizing Your Influence

[11:51] Where To Begin

[12:45] Figuring Out Good Hourly Rate

[14:37] Making Sure You Get Something Back

[15:54] The Only Way To Scale In Monetizing Influence

Notable Quotes

  • When you begin to get asked things from people, from companies from organizations, what happens is someone sees value in your expertise, your experience, your knowledge, and they contact you.
  • However, small amount of money you begin with, you need to be it provides you the greatest effort to really monetize your influence, that's really the easiest way to put it.
  • Well, what is the value of that? What is the value of your time? And what is the value of publishing a piece of content on your website, or for your opinion.
  • But whatever it is, make sure you are getting in kind value for that.
  • But I don't want to be doing anything that's less than that, because it's just not worth my time. And this is something that you're going to have to figure out.
  • When we talk about monetizing influence, we're basically asking something in return for something.
  • And I want you to get in the habit of whenever someone hasn't asked for you, as someone who has used an influence, you haven't asked for them. And that is going to help you best monetize your influence.
  • Think about ways in which you can better monetize what you're doing. And I think those of us that have been doing this a while already have this mindset, if you don't have the mindset, now is the time to get the mindset.