T Nation

How Do I Monetize an Online Social Community

A partner and I have a social media group that has about 15k members and growing and is a very active community. People post things to sell, local news, pictures, and have discussions. We’re not sure how we should go about monetizing this. We’re thinking driving the traffic from there to a website where we can advertise for businesses and have an area where people can post in a forum. We’d also think we could promote particular events, special deals and even sponsor local events ourselves. We’d also have some type of newsletter.

I’m helping him with the tech stuff, he’s had the community, and would be driving most of the business/customers/revenue, while I’d handle the tech stuff, and after the initial setup, I dont think I’d have much work. He mentioned a 25% split of profits with him getting 75% of the profits. Do you think that’s fair?
Any thoughts on how we should handle this and take advantage of the community we’ve built? What do you think I should ask for regarding the split? I don’t have to much leverage as he could always use a different tech or outsource most of the work, although I don’t think he has the money to spend. I just want it to be fair when it’s all said and done.

Check out Smart Passive Income Podcast, I believe episode 91 (off the top of my head). The podcast - as a whole - specifically addresses this, and it seems to be good information all together.

That’s really hard to answer, but the way you stated it makes me think it’s more than fair.

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I’m a software engineer. What you’re looking for is a web application. You’ll need a developer. Where are you located?

I’m located in Boston.

Thanks, I’ll listen to the podcast tomorrow!

What do you know about your community? Do you have any hard structured data or is it mostly unstructured?

How much does your friend understand about the community compared to you?

Assuming your more replaceable than him I think the 25/75 split is fair. Depending on what your career is or you could still be in high school for all I know, its at least something to put on the resume regardless of how much money it makes.