“The market crashes, turns to ashes that you’re dancing on while some fat lady cues up for a song.” – Matthew Ebel, Better Off Dead
Well, folks, the great unraveling is picking up pace, with more banks failing, Fannie Mae and Freddie Mac taking up hundreds of billions of taxpayer dollars in a bailout, and companies like Lehman Brothers essentially saying “Everything for sale, cheap! We need cash fast!”
What does this mean for you, the new media professional, the marketing professional?
You’d better have a revenue stream that isn’t dependent on just advertising – MarketingVox recently cited sharp declines in expenditures.
You’d better have a revenue stream that isn’t dependent on discretionary income – that’s going away real fast.
You’d better have a revenue stream that isn’t dependent on corporate largesse – budgets simply aren’t there.
So what should you be looking for?
Look for pay-for-performance revenue streams like affiliate marketing that pay a cut of the sale. Take a look at Shareasale, for example. (Full disclosure: PAID link that supports the Financial Aid Podcast.) As long as you make affiliate publishers money, you make money.
Make premium subscriptions for irreplaceable content. Your content has got to be so valuable, so top-notch, that it’s no longer discretionary spending, but mandatory spending.
Above all else, if you’re not building your database, you’re dead meat.
Did you enjoy this blog post? If so, please subscribe right now!
Get this and other great articles from the source at www.ChristopherSPenn.com