What is Monetization in Network Marketing?

The term monetization has been used in economics and in this industry refers to the printing of bank notes. Today, this term is showing up in the Internet and Network Marketing industry. Basically, in the Internet world, monetization means making money besides that of the primary source of income or your primary product. It means building in lower end products to your websites, blogs, articles, etc. to help lower marketing costs and even perhaps make a profit. It is a way to make income and allow you to grow your business and become more successful.

It means making money in ways you have not thought of originally in your business. Prospecting expenses are normally costs (in dollars and time) to the internet marketer, however n the normal businesses market these expenses are covered by marketing other items that attract potential customers for larger items that they may also be interested in. This is now being taught in the Internet marketing world so a Network Marketer can bring in money to help increase their marketing for their primary product.

Learning to monetize has become particularly important because making a residual income is difficult and takes time. It has been said that 1% of the visitors to your site will become a business partner of your primary product. By setting up monetization you can then offset your marketing costs and build relationships (Attraction Marketing) with people who may also decide to ask you about your product. Offering low cost products and services where you get some income you earn B2B (Business to Business) sales, thereby creating cash flow.

Up lines may likely discourage this process. Many of the successful "old school" MLMers and Internet Marketers (Network Marketers) discourage this because they feel that it will distract their down lines. They fear that this will cause them to lose their down lines (and potential income) because they feel if they start making money in other places they will leave, but the opposite is true, this is empowering for teams and it would be good for all Network Marketers to embrace this process.

In the "old model" Network Marketers struggle because it takes so long to build a supportive residual income stream. Monetization allows a way to bring in cash flow to keep the business going while the primary business is being built.

This shouldn't scare anyone, this should be exciting because it empowers and allows network marketers to become successful faster. Many are now building this into their businesses; if you are involved with a business and looking for a way to do this it may be required to find a way to do this without the help of your primary business. Getting involved with online education like Renegade University where you can learn to monetize. They even have a backend built to help you with this by providing products.

Another awesome resource is Cambridge University. They have a forum that has great resources and people that are very helpful. And you can provide others help in your area of expertise. It is a great place to share and they are really great with making sure that is all that is going on there (no spamming).

Both of these resources have access that will not cost you anything but your time.

There are many ways to work monetization into your business. You can write an e-book or a report that you can sell yourself. You can sell other peoples products for a commission. You can also become an affiliate and help others find the services that they need for their own businesses. There are training sessions at Renegade University to help with doing all of these things as well.

Writing your own E-Book
If you have a skill that is high focus on that. Something that you can write about that will assist others. Don't worry if there are others that have written about it - it is still something you can do.

Sell on Commission
An e-book or other product of someone else's that your target market would find interest in could be sold in order to attract your target market. There are several places that will allow you to do this; Clickbank and Commission Junction are examples.

Become an Affiliate
Affiliate services exist all over with everything that is done on the internet. Back office services such as web hosting services, website builders, auto responders, lead lists, almost anything that you need out there for running your business has a way to earn small commissions for referring others to the sites.