How I monetize my jewelry business
When I started this business in 2014 to be honest I didn’t fully know what I was doing. I thought it would be easy making jewelry and selling it online and getting paid. I learned very quick from social media, websites and research that it is a very saturated business. If I didn’t do something unique to stand out from the rest then my sales would be decent at best. And that is exactly what happened.
But my passion was there. Literally every night I would make several pieces and post them to my website and several of my social media platform including Instagram, Facebook, and Etsy. But after 2-3 years of this lets just say I wasn’t quitting my 9 to 5 job anytime soon. Then a light bulb in my head went off. “I need to find other ways to make money besides selling beaded jewelry under beadsbydez“. That is when I realize I needed to monetize my jewelry business.
Codefuel.com defines monetization as “simply the act of making money from your website or other property. It’s not necessarily about ‘selling’ a product and could simply mean that you are earning revenue from your website without selling anything at all. In fact, your website or app is a perfect venue for marketing products, and there are countless strategies for doing it”.
If your still having trouble understanding what monetizing is just imagine you own a bakery that sells bread as well as serves meals. In that bakery with bread you can make toast, french toast, egg sandwiches, etc and charge various prices. The monetization is how your making income various way just from bread.
My eBook is just one of several ways I monetize my business
By the time I published my first eBook in 2019 I felt I already had enough knowledge selling handmade jewelry that I can offer my fellow artisans tips and suggestions on how to increase their revenue if they find themselves struggling with sales. Til this day I still earn royalties off sales from creating a book one time.
There has been people I have ran into that was not interested in my jewelry at all. Which is fine. Everyone has their preferred taste. But what I did notice is that those same people would ask me if I could repair their damaged handmade jewelry piece. So this creating another form of monetization within my business. jewelry repair. Depending on the labor and parts needed I would take on the service and charge a fee.
I also had a online course that I created for those that wanted to see how to create beaded jewelry. Creating my eBook and online course took me a long time to finish. But it falls under the category of “Do it once, and get paid forever“. Most of the time its all about having a positive minds set and knowing what you want to attract to you. Lastly my blog website I have created here is another avenue for me to receive revenue thru affiliate links.
All of the above are just my personal examples of monetization but it is to give you a idea of how you can make money thru several avenues under the umbrella of your business. I can only offer these as suggestion but ultimately it is up to you to decide how else you can make extra revenue with your business thru monetization.
I hope you enjoyed this blog. Feel free to leave any comments below.
Desmond
bbdjewelry.net
You are so right Dez. I helped a lady just yesterday that had a problem with some furniture and I asked if she had social media and how to go to then that way. She was grateful. Residual income and monetization.
agapevirtualenterprises@gmail.com
Whitney