037: Monetize

There is a lot of talk these days about how to monetize your audience. Especially given the increased need to focus on digital platforms - this seems like a good strategy. But let me ask you a question. Do you like being monetized? Being thought of as simply another part of the machine creating income. Do you like knowing that the content someone is delivering to you comes through the lens of turning your clicks into dollars? How do you think it would make your audience feel if you told them you were trying to monetize them? I don’t think it feels good - yet there seems to be a big push right now to do it.

I keep seeing articles, posts and blogs that are attempting to show you the upside of monetizing your audience and ways to do this. It is often the case that these are coming from a source that will benefit if you follow their suggestions. It’s no surprise that streaming platforms, web platforms, email platforms and social media platforms are pushing you in the direction of monetization. They monetize you, by showing you how to monetize your audience.

Now I’m not trying to claim that some conspiracy is going on. That there is an evil empire trying to take over the music industry. I think some of these approaches come from a well intentioned place. They are trying to grow their business, by helping you grow yours. But how’s that working for everyone? I don’t know about you, but it really feels like the more and more we rely on digital solutions to our financial problems - the smaller the pieces of the pie end up.

I should also say I know people who are doing well using a social and digital platform to create income. But for those people it didn’t start with ‘How can I monetize my audience?’ It started with ‘How can I connect with my audience?’ and ‘What value can I provide my audience?’. And that’s an entirely different approach.

We’re always quick to see the success certain people are having with these digital tools and assume it’s the tool not the artist. Look at what Artist X is doing, it must be because of Y. However it could simply be the artist themselves that is the key. The success would have come no matter the platform. We don’t know their intention, and that is much harder to determine and understand. Both for them and for ourselves. So we take the easy way out and assume it’s because of the platform. It rarely is.

Most people have their Spidey Senses up these days. They know when they’re being sold too, and they are quick to disconnect when they see that message. So if you’re thinking about how to ‘monetize’ your audience, take a step back and put yourself in the place of the listener. Ask yourself - how will this message be received? Chances are there is a much more meaningful connection you can have with them, one that will provide them with value. And in turn, they will support you.

~ Steve