Bill C-18 is going to change Canadian content creators lives for the better. It’s not going to be as easy as setting up a Facebook account in 10 minutes, but in the end it is going to put creatives in control of what we publish. Done right, we will be in a good position to monetize that content long-term and keep the profits.
How we got into this mess
Social media companies trained readers to expect news and entertainment for free, and then channelled targeted ad revenue to shareholders. Writers, photographers and animators worked for nothing, in the hope of luring potential clients from their platform onto OUR website.
Creating social content is like feeding a slot machine. You get one enquiry after writing 10 stories, and spending the morning liking and commenting. We remember one referral, but forget the hours we wasted.
Why social media fails at marketing
99% of the eyeballs on social media are there for one of three reasons.
1) They are suppliers/employees: reading and liking so you notice and hire THEM
2) They are competitors: looking for ideas to expand their own reach
3) They are clients: but why should they pay for services you are giving away
So what’s a Paywall?
A paywall is exclusive, paid content, created for people who are genuinely interested. It rewards your dedicated followers with something extra. Your platform can dive deep into topics, share exclusive stories, introduce buyers to sellers, and provide solutions that are worth every penny.
A paywall offers value that your audience is willing to pay for.
Your paywall subscribers are VIPs. Nurture that relationship, respond to their comments, ask for feedback, and make them feel like a part of an exclusive club. Building a strong community around your paywall content can lead to long-term success.
Creating a paywall site that makes money
1) You need subscribers who are prepared to pay.
2) You need to be seen and trusted by those subscribers.
3) You need to offer value to those subscribers.
4) You need to invest in technology to deliver that value securely, while optimizing your time.
A paywall is ecommerce for non-product (or knowledge-based) businesses. It incorporates payment options, and value is delivered digitally.
What are your paywall options
I have defined 4 practical, manageable ways to make money from your digital content.*
1) Hard Paywall via eLearning courses or an online book
Your content is restricted right from the start. You will need a reputation for high-quality, credible educational content that helps people build their income, or save more money than you charge. You can charge for digital downloads, or visitors “pay” by subscribing to a newsletter. You could hosting your own course or look at a monthly rental (with commission on sales) like Thinkific.
2) Soft Paywall via a membership-based website
You offer a limited set of content for free, then they’re prompted to subscribe to access more. You give a taste of what you offer and entice them to dive deeper for the full experience with a premium level. You could charge directly for premium content, but they might also pay by earning credits, purchasing merchandise or hiring your services.
3) Soft Paywall via a community website
A community website lets people network and market their own content. Your community should be your potential clients (or potential suppliers if you subcontract).
You will need to be recognized as an expert in this field. You are not just a creator, but a moderator and mentor. You advise and inspire people to write content and collaborate on projects where they earn an income, or build a portfolio. You will need badges and rewards for participation. You could replace dying platforms like Facebook Groups, by offering online and in-person events.
4) Metered Paywall
A metered paywall lets you view ANY article – but there’s a caveat. Content is restricted after a specific number of articles within a certain time frame (like a month). Once they hit that limit, the paywall comes into play.
This approach lets you balance giving value to readers while encouraging subscriptions. It’s good for search engine optimization because all your content is open. You don’t have to decide up-front what people will like – you can continually assess your metrics.
* Monetizing options I excluded
5) eBooks
In 2011 I set up a business to sell eBooks in South Africa. Amazon refused to carry books in many “foreign languages”, and African languages (including Afrikaans) were never going to be best sellers for them. I built a community of local authors – putting authors in touch with editors and publishers. It worked well for a few years, but it was exhausting. I sold the business in 2013.
Amazon has cornered the market so unless you are a niche publisher, you can’t compete.
6) ECommerce
Selling online gets harder all the time. There’s fraud, and the law sides with the buyer. Shopify deals with all the legalities and I recommend investigating them first.
7) Showrooms
A Showroom is eCommerce without the cart – I excluded it because there are no financial transactions. It allows purchase orders or enquiries, so the business builds a personal relationship with the buyer.
It’s a low-risk, cost-effective option for bricks-and-mortar businesses who want to go international. The site can be private, or public. I build these as part of my normal business, and help clients keep them secure and up-to-date.
