Creating and maintaining a vibrant community platform is no small feat, especially when your focus is on supporting a social mission.
To sustain your platform and continue making an impact, generating income is important. It enables you to cover essential operating costs such as software license fees, administration and promotion. With a steady revenue stream, you can continually invest in your team, ensuring that you provide the best possible user experience.
This blog outlines ten tried and tested strategies to monetise your community platform while staying true to your core values.
1. Forge strategic partnerships
Collaborating with trusted partner organisations can be a game changer. Partners who share your vision can help finance and manage your platform, contributing to strategic planning, resource pooling and community engagement. These partnerships not only alleviate some of the workload but also demonstrate a commitment to the community, which can be showcased through prominent partner profile pages and logos.
2. Secure sponsorships
Invite businesses or community organisations to sponsor specific campaigns or bespoke landing pages. These sponsorships are mutually beneficial; sponsors gain visibility and access to detailed reports, while your platform receives financial support. Campaigns can bring members together under themes like wellbeing, getting active or the cost of living, fostering a sense of community around important topics.
3. Create ‘micro’ communities
Offer organisations the opportunity to create and manage their own micro-communities within your platform. This feature is perfect for smaller community hubs, directories of statutory services, or communities of practice. These micro communities can have their own branded landing pages, giving organisations a space to engage with their members while supporting your platform.
4. Introduce member badges
Badges are a versatile tool that can enhance user experience and generate revenue. By offering organisations the chance to add member badges, you create a way to help users find relevant groups and resources within the community. Badges can also signify certifications, awards or participation, adding value to both members and organisations.
5. Utilise activity badges
Activity badges are another way to generate income while organising content. These badges can be associated with specific partners, networks or themes, making it easy to identify related events or listings. For example; activities tagged with a particular badge can be streamed onto a dedicated landing page, creating a curated experience for users.
6. Offer member verifications
Trust is crucial in any community and member verifications can help establish it. Allow members to associate their profiles with organisations, connecting employees or volunteers to their respective groups. You could charge a yearly fee for this verification service, adding a layer of credibility to your platform.
7. Sponsored polls
Polls are a quick and effective way for organisations to gather opinions and engage the whole community. Whether it’s measuring project popularity, voting in competitions, or capturing real-time results, polls provide valuable insights. Consider charging a one-off fee for hosting polls, with additional fees for sending email notifications to members.
8. Community engagement services
Expand your platform’s offerings by providing community support, management and engagement services. This could include content creation, activity management, member relationship management, volunteer coordination and more. These services not only generate income but also enhance the overall user experience on your platform. You can also utilise our Guides features to share resources and for e-learning.
9. Platform training sessions and workshops
Education is key to maximising the potential of your platform. Offer training sessions and workshops to help partners and users make the most of the tools available. Regular drop-in sessions, training for social prescribers and admin training for data analysis are just a few examples of how you can monetise knowledge-sharing.
10. Community donations
Finally, leverage the goodwill of your community by encouraging voluntary donations. Integrate your platform with payment providers to facilitate online donations and crowdfunding campaigns. Collaborative fundraising efforts can also be a powerful way to raise funds while strengthening community bonds.
Summary
By implementing some of all of these strategies, you can create a sustainable income stream for your community platform while staying aligned with your social mission. Whether through partnerships, sponsorships or community engagement services, each approach offers a unique way to generate revenue and ensure the continued success of your platform.
For more information on pricing and services, visit Made Open or contact us at [email protected]. Together, we can build sustainable communities.