How to make money out of your online community (and keep them happy)?

In answer to a question on the community manager’s Yahoo group e-mint I came up with a quick suggestion:

One non-intrusive way might be to allow relevant companies like Sony access to your community for a set fee to ask questions for a set time, for example.

I know this can work as I have done community management training for a company in London which sets up communities on that very basis, for market research purposes.

I also know in the movie industry of a site like http://moviepilot.com/ which gives fans the chance to follow news about specific movies before they premier, and in return builds a fan base for those movies;-)

Shopping.com UK featured members

But don’t just take my word for it, check out Sue’s response to this question raised by Patrick O’Keefe:

Forgot to add: A Vendor section in the forum can work well too. In order to keep the vendors contained though it should be stated at the beginning of the agreement that their own Vendor section will be the only place that they would be allowed to personally interact with the membership. I think a Vendors section can be quite helpful in many ways, including:

  • Community members will have a direct avenue to the advertiser to ask questions about the vendors products and services.
  • Allows the “vendor” to be in charge of moderating their own section giving them complete control over the type of postings/topics made in their section (within community guidelines).
  • The vendor’s products/services are easily found within the community, but they do not infringe on discussions that are taking place elsewhere on the site.

I think the interesting concept that moviepilot.com offers though is for an enterprising agency to offer a service to companies to find relevant fans/influencers on niche communities. And to work with community managers to help generate income for them that helps sustain their growth. Kind of how Lithium currently sells the value of its community platform to potential customers, by making it the ‘hub’ for social commerce activity:

“Lithium helps you bring your static website alive with social conversations. Deploy Lithium Reviews and Q&A on your product pages to increase conversion rates and average order value. You can also draw customers into conversations by promoting Lithium Blog posts, Knowledge articles, hot Forum topics throughout your site.”

Which is great, but for a company like Sony it’s a case of ‘belt and braces’ of having both such a branded community, and also for specific campaigns being able to reach out to target communities to promote new products, ask for feedback, etc. And that’s why community managers can potentially both help their revenue and benefit their members.

The Internet of Things (IoT)

The Internet of Things (IoT) entails connecting physical objects to cyberspace, says Professor Jon Crowcroft: “In this talk, I will discuss the business of trying to bootstrap the IoT. To this end, we need to create an innovative ecosystem that addresses two things: Firsty, we need to create a platform for peer-networks of users to create new ways to connect new objects, e.g. household appliances, to the Internet.

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“A secondary appstore would hold systems for controlling home sets of appliances, and combining sets of such networks, securely, and safely. This would also extend access to the “home” (or work, or in the car) network of things to multiple remote sites (e.g. work to home, or public transport to home, or home to car).”

Speaker:

Professor Jon Crowcroft

Marconi Professor of Communications Systems, Computer Laboratory, University of Cambridge.Associate Fellow of the Centre for Science and Policy.

Jon Crowcroft is the Marconi Professor of Networked Systems in the Computer Laboratory, of the University of Cambridge. Prior to that he was professor of networked systems at UCL in the Computer Science Department. He has supervised over 45 PhD students and over 150 Masters students.

He is a Fellow of the ACM, a Fellow of the British Computer Society and a Fellow of the IEE and a Fellow of the Royal Academy of Engineering, as well as a Fellow of the IEEE. He was a member of the IAB 96-02, and went to the first 50 IETF meetings; was general chair for the ACM SIGCOMM 95-99; is recipient of Sigcomm Award in 2009. He is the Principle Investigator in the Computer Lab for the EU Social Networks project, the EPSRC funded Horizon Digital Economy project, hubbed at Nottingham, the EPSRC funded project on federated sensor nets project FRESNEL, in collaboration with Oxford; and a new 5-year project towards a Carbon Neutral Internet with Leeds.

Professor Crowcroft’s research interests include Communications, Multimedia and Social Systems, especially Internet related.

Professor Jon Crowcroft

Meeting details:

  • When:19th Feb 2013, 18:30 – 19th Feb 2013, 21:00
  • Where:BCS, 1st Floor, The Davidson Building, 5 Southampton Street, London, WC2E 7HA
  • Town/City:London
  • Organiser:BCS Internet Specialist Group
  • Price:There will be a £10 admission fee (inc vat) for BCS Members, £15 (inc vat) non-members, £5 Student (inc vat)
  • Booking Link:https://events.bcs.org/book/481/
  • Further Information:Further Information

Closing date for bookings is 12:00 noon on 17 February 2013. No more bookings will be taken after this date