Regarding Monetization: What Can and Should Be Monetized?
Did you know you can monetize a wedding?
Many weddings involve large gatherings of people. Those people are an audience, who are all likely to share some similar interests.
Marketers want to capture large audiences with similar interests and they do so by paying for advertisements.
To monetize your wedding, you can sell promotional space to advertisers.
Weddings are expensive so recouping costs by any means possible just makes sense.
Monetize your life
Today, there are opportunities to monetize everywhere.
You can do things such as:
- Leverage your network of friends and sell them products you believe would improve their lives.
- Make above-average content about your everyday life and get sponsored.
- Write a blog like this one and run advertisements.
Now, just because you can monetize everything, should you?
Deciding what to monetize
While it is simple enough to live life in a manner to maximize profits (this is what corporations do), it is not typically the way that most people desire to live their lives.
However, although maximizing profits may not be directly what we want, we can take lessons from corporations and implement them in our own lives.
When faced with the choice of monetization, I think the following:
- What are the costs of monetizing this (social, financial, environmental, etc)?
- What are the benefits of monetizing this (social, financial, environmental, etc)?
- Do the benefits outweigh the costs?
- If yes, is this something I am comfortable monetizing and will not regret in five years?
- If yes, go ahead and monetize.
Choosing whether to monetize or not, really comes down to a cost-benefit analysis and a review of one’s own feelings in regard to the item you are thinking about monetizing.
Always look for creative ways to monetize your life. Your and your friend’s attention and time are valuable, so allow others to pay for it. Have a system to decide what is worth paying for and what is not.