What stops some creators from launching their own platform is financial uncertainty. They don’t know where the money is going to come from. Maybe they’re not reaching their full potential on social media, but at least they understand the process.
If this is holding you back, don’t worry! Here’s how you’re going to start generating revenue with a FanHero platform in 5 steps.
Sign up for a platform.
You can’t win if you’re not in the game! Set up an appointment with a FanHero advisor and get started on building your own platform.
Your advisor will have a lot of technical knowledge, so focus on the business side. Lay out what you want your platform to do and choose features that support those functionalities.
It’s also worth deciding whether you want your branding to be identical to your other platforms. You might want to use generally consistent cross-platform branding with a premium addition or styling element to make your own platform stand out.
Find a balance between fun bonus features and what you definitely need at launch. You want to have a great product in the beginning but also leave room for “upgrades” later to keep things exciting.
Choose the types of monetization you want to use.
The first monetization decision you’ll make is whether your platform will be subscription based, ad-supported, or a pay per view (PPV) model.
Subscription: Users pay a regular monthly fee for full access to your platform.
Ad-supported: There’s no fee, but ads are included across the platform.
Pay per view: Users only pay for the content they view.
You might find that a combination of models works best for your audience. For example, many creators find that having the base app ad-supported with some PPV special events is most attractive to their fans. You could also have a premium ad-free tier that has extra features for those who want to subscribe. Go with the model that fits how your audience likes to engage.
You have access to other monetization options that might be more familiar to you, like:
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Sponsorship
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Content marketing
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Live events
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Physical merchandise
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Digital goods
All the revenue streams you’re used to will be available on your FanHero platform. The difference is they’ll all be more productive because of the greater access to your data (and the audience segmentation that follows).
Populate your platform with content.
While you can use existing content as a base, there should be a healthy amount of content that’s completely new to your audience. You want people who sign up to feel like they’re getting value for their effort.
Have enough available that users can’t casually go through it in a week. (Binge watchers are another matter, but since those tend to be your more loyal fans it’s not a major concern.)
Set up a schedule for updates and stick to it. The audience needs a reason to keep coming back, and they’re easily disappointed when you miss a posting date. You can also let email reminders or push notifications in advance of new events.
As you build your content strategy, make sure there’s a clear path to audience engagement. Active users are more valuable than passive ones, and if fans feel like your platform is an interactive activity they stay engaged longer.
Move your audience from third party platforms to your platform.
This isn’t as hard as it sounds! Your base loves your content. They’ll enjoy having access to more and special content as well as having another way to support you.
Don’t make the move overnight. Build excitement while your platform is under construction. When you’re ready to launch, make the “switch on” a big event across all your third-party platforms.
It’s a good idea to maintain your other platforms as a recruiting funnel. They give you free advertising and a way to hang onto fans until they are ready to move to your platform.
Profit!
Once your content is up and your audience is using it, money goes into the account you set up with FanHero. There are no extra steps of check-ins.
Plus, you’ll have full transparency on platform financials through a simple-to-use dashboard. You can rest easy knowing you’re in control of your money.
Ready to get started? Claim your free consultation today to find out where FanHero can take you!
