When it comes to instant messaging and social life, WhatsApp is one of the top applications that people can vouch for in keeping their social life active. It’s amazing features and user interface makes so many become addicted to it.
Stastics shows that about 300 million people uses WhatsApp on a daily basis. It shows that this amazing app is more than an instant messenger but also a market place for those who recognized it.
There are several ways of making time on WhatsApp count and one of this is to learn how to monetize it.
How do you go about this?
With the beautiful feature of groups, you can start earning from your friends on WhatsApp.
Setting up a WhatsApp group is quite easy.
First thing is to get a name that perfectly depicts what you want to do.
Then you can go ahead to adding people or inviting them through the links. Once this is done, you can go ahead and set up admins to ease the burden of administration.
And for a quite ease of flow of activities, set up rules that guides what people are expected to do and not do. This would help you maintain focus.
Another thing to do in setting up your whatsapp group is to have a structure on how the group will run. If it would be on a daily, weekly or monthly basis.
Then you can now begin to explore ways of making money from it which can be:
1. Create short classes.
Organizing sessions in form of teachings, that addresses the areas of member’s needs is a sure way of making money from WhatsApp groups.
The sessions could be in text, audio or video formats; based on what suits your audience
Note that it is important to know the preferred learning style of your audience to foster engagements.
The short classes could be something educational, inspiring or informative.
2. Create subscription models.
Another way to make money from WhatsApp group is to establish system of subscription members such that, the membership is a paid one and not free.
Firstly, this fosters discipline and focus from the members. Because they don’t want their money to be wasted. It makes them place premium on the group and not trivialize it.
Secondly, it helps you tailor your product or service to a specific need rather a general one which might not really yield more results.
3. Sell products.
Creating and selling of products on WhatsApp groups gives an advantage of you selling faster, because they are people you know (virtually) and have related with. So a level of trust would have been established between you and your audience which makes them easily buy from you.
There are different products you can consider selling to your audience, starting from online courses, to professional services and even physical goods.
There’s no limit to what you can create for them, as long as you are creative about it.
4. Offer coaching services
With the rate at which many people are soughting after professionals in getting solution to their problems, you can also position yourself as a coach to certain set of people with the passion to help them overcome it.
Armed with the right knowledge and strategy, you can offer coaching services to clients from your WhatsApp group.
All you have to do is position yourself as an authority in a particular field and offer your service in an excellent manner.
5. Go for hangouts.
Everybody loves to have a time to rewind and refresh from all the struggles of their lives, and would be willing to pay a token for that timeout with self.
Organizing a physical hangout for your group members could be a form of generating income for you.
By working on the logistics involved in getting a venue, setting it up and make room for a light refreshments. Most times, the cost involved in getting everything in place is reduced depending on the number of people involved; and you get to have some kind of reasonable profit from it.
So here are several ways of monetizing WhatsApp groups, which of these will you start implementing to generate a passive income?