To the extent that you can create awareness about the importance of your personal brand and develop strategies to make it grow in the direction you want, you will be able to increase your level of influence in your area of interest, and with it your value as a professional in the field. market.
But what happens when you’ve already built a good personal brand? How can you make this translate into higher income?
Here are four suggestions.
1. Consulting services
One of the easiest and most direct ways to monetize your personal brand is to offer consulting services in the area in which you operate.
For “influencers” (People with a good reputation and a high degree of prestige in a certain industry), consulting services are a good business because:
- They get paid to share things they already know.
- The hourly rate is very good.
- A consulting process can be implemented for almost every area and industry imaginable.
- You further strengthen your status as an influencer.
A well-known case of a consultant (among many other things he does) who has managed to take advantage of the positioning achieved through his personal brand is Neil Patel, who has created an entire multimillion-dollar business around his services as a marketing and SEO consultant.
Another way to make money with your personal brand is through conferences and events (both digital and in the real world).
The conferences give you the opportunity to speak in front of specialized audiences that pay special interest in the subject in which you are recognized as an expert.
Some of the benefits of conferences are:
- Low (or no) cost to the speaker.
- Good money is made in no time. I know of experts who manage to charge fees of up to $20,000 for hour-long presentations. Nothing bad!
- They better position your personal brand. (Even better than providing consulting services)
3. Brand ambassador
Avery creative and effective strategy to make money with your personal brand is to become an ambassador for other brands that are after the same target as you but without entering into a rivalry with what you offer yourself.
We see an example of this in athletes who are ambassadors for sportswear brands or rehydrating drinks; artists who are ambassadors for fashion brands and the latest success stories : YouTubers with large audiences who have become ambassadors for brands such as Apple, Microsoft, L’Oreal and many others.
With this I am not saying that to the 100,000 visitors to your blog you will receive a millionaire contract with a famous brand. Rather, I want you to understand that if you put all the proper work and effort into it, eventually your brand will catch the eye of larger ones who will be willing to invest in you and what you represent.
4. Content creator
Producing content is an activity that allows you both to create and strengthen your personal brand in the beginning and to generate profits from it once you have established yourself as an influencer.
At first, those who are interested in building a good personal brand receive little to no money for the content they produce (regardless of how good it is). This content is provided for free for the simple reason that no one will pay for the knowledge that only you know you have. Therefore, you have to let the public know you and can realize the value of what you say or do.
Once your brand acquires value and reputation, you will be able to produce content (videos, audio books, books, ebooks, etc.) for which the public would be willing to pay to obtain.
Related: 20 Content Writing Tips for Novices
What is the best method of the four? That will be decided by your audience and your personal preferences.
I particularly recommend you mix as many forms of monetization as possible. Of course, always taking into account that your interest in money can never be above the interest that your brand remains well positioned.
For this reason, never use a monetization mechanism that could in any way damage the credibility of your brand.