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Did you know that LinkedIn monetization is possible? Though it is mostly a business network, it is not only for making “connections” but also for monetization too. It works especially for people with an established business or brand.
If you are a LinkedIn professional user, most likely you have built many connections or at least your branding. For newbies who just started or do not have much experience, there are a few things you need to do first before even thinking about LinkedIn monetization.
So let’s start on preparing for monetization like any well-trained soldier will do before going into LinkedIn “battle mode” aka making money moves. As the saying goes, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” ― Abraham Lincoln
3 STEPS TO PREPARING FOR MONETIZATION
1. Build up your LinkedIn profile
No business success happens overnight without hard work, time and persistence. Likewise, the same applies to building your LinkedIn profile. When you open an account on LinkedIn, make sure to complete your profile as much as possible.
Eg. Include a professional and recent insta-worthy picture of yourself and filling out the professional portfolio section. A portfolio is more than a resume, it proves your achievements and experience. Start with posting one post every morning and depending on your business or branding objective, it might be advisable for you to use a scheduling tool to help you schedule an entire week’s worth of posts in advance.
2. Tell your brand story
Your LinkedIn profile can’t look like you are willing to take any opportunity or offer that comes your way. You need to create a clear and simple brand story about yourself. Eg. The mission statement and core values for yourself and your business.
By doing this, you are showing to people that have already carved out a career and are moving to accomplish that next big goal in your life. Remember to add your LinkedIn badge to your company website wherever you are describing your mission statement and be sure to feature any positive customer reviews you have.
3. Form “connections”
You probably ignored many of those “invitation to connect on LinkedIn” emails or suggested connections to add to your network in your notifications. Well, time to stop doing that and start making connections! The more connections you have and the more you interact with them, the stronger your LinkedIn network will be and better success rate on LinkedIn monetization too.
Why? Whereas it is important to write and solicit recommendations like the “endorsed skills” type, it is better to have the actual written recommendations to appear on your profile. These help to prove that you are a trustworthy professional and you have amicable relationships with former and current colleagues.
Now let’s move on to the next stage of LinkedIn monetization, which is what you have been waiting for!
3 STEPS TO MAKE MONEY
4. Offer consulting services
If you have a particular niche or area of expertise, make sure your LinkedIn connections know that you offer consulting services. Do not think this is something you can overlook – many people actually make plenty of extra income every month just by talking to other businesses or entrepreneurs about their expertise.
This is how LinkedIn monetization can help you greatly – it is just like having another income stream without the stress. After all, it is mainly talking about your expertise. Taking this route only means you need to ensure it is fully integrated into your brand as if this is your core business. You don’t want anyone to think you are doing consulting services as a side hustle because you need that extra little income.
5. Leverage on your best selling product or service
There are a number of ways to LinkedIn monetization but the easiest way is to often create a best selling product. Many people choose to create information products such as motivational guides to success or the know how manuals on their expertise.
Information products are awesome money generators because they can be sold digitally. Eg. Ebooks, webinars and etc. What’s more, they do not cost much to manufacture and do not take up physical space at all! Sending information products digitally is as easy as sending an email.
Other best selling products include hardcopy books and products related to your business. Eg. If you sell insurance, make sure people can buy your product online by clicking to your website from your LinkedIn profile. One important tip is to use Targeted Recommendation Ads to promote certain products or services.
6. Affiliate marketing
This is a highly popular method of making extra income and that is affiliate marketing. Meaning you help to advertise or promote another company’s product or service in exchange for commission which is usually a certain percentage of the sales that come in due to your recommendation.
Two tips for promoting affiliate products on LinkedIn – Go into your groups to answer some questions with relevant affiliate marketing review posts and post your affiliate posts in your Publications section.
In conclusion, these are a few ways to make money from LinkedIn to fund your business or other branding objectives etc. With consistent posting and time, LinkedIn monetization is just around the corner!