What I Told ABC News About Making Money

moneyface I don’t know when I suddenly became the person people would start asking about how to make money. I’m not John Chow or Shoemoney, or even Lynn Terry. I make money via the web, but I’m not exactly “that guy” about it. But hey, if ABC News wants to ask me about it, I’ll answer. But then, I’ll answer with the way that *I* think about money making via the web.

Want to know what I told them?

If you want to make money via the web, my five tips would be:

  • Grow bigger ears (listening) – the best way I’ve found to help people make money via the web is to “listen at the point of need.” The idea is that people are offering up their interests and requests and desires via the social web every day. If you have what they need, there are opportunities to get into the selling cycle on the spot, instead of waiting.

  • Be protective of your community – this is how Oprah succeeded. She grew a community around content that was helpful to the people consuming it, and then she attracted sponsors who wanted access to those people. She then stayed fiercely in between the two groups, making sure her community was always protected, and that sponsors had access on her terms only. Own the relationship, own the money.

  • Add more value than promotion – selling is often heavy-handed and based on wanting to close. The real winners are relationship-minded people who make not only the first sale, but all the subsequent sales thereafter. By giving your community much more value (more content, more things they can use) than just promoting your stuff, you win longer term sales relationships.

  • Promote and recognize others – in selling and marketing, we talk too much about ourselves. People want to be seen and recognized. Use your platform to point out the good stuff that would appeal to the rest of your community. Mention them. Talk about your customers more than you talk about yourselves.

  • Be clear on your ask – when you finally have a hard ask, a request for a sale, then be very clear about it. Don’t ever sidle up to the sale. Never let there be a confusion between your goodwill efforts and your direct need for a sale. Never flinch about it, and never make it a mushy mix of community warmth and indirect sales requests. Just like relationships, short and clear is better than long and convoluted.

Oh, and want to watch the video? Here’s my spot on ABC News money matters.

It’s how I’ve done it here, and it’s how I talk about it when I talk to others about making money. Have you done it in similar ways? How has it worked for you?

Photo credit Kevin Dooley

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  • http://matthewlyle.com matthewlyle

    I'm glad they went to you, and not the usual money-making people. I don't need to be told how high conversion rates of pop-ups are anymore. That's over. People forgot about selling on needs when it came to the internet for a while, I think overwhelmed by the potential volume. Now we're getting back to regular business tactics, and that's good.

  • http://www.dogwalkblog.com/ Rufus Dogg

    LIke the news thingie. You are going to get more requests for this. Lighting and back drop. Mostly get a neutral back drop.

  • http://www.voteaudrey.com VoteAudrey

    I love this – straight forward and spot on. Several people recently asked me about web money making (as if I know!) so I can happily forward this on.
    Cheers,
    Audrey

  • http://principlesoffailure.blogspot.com/ SHerdegen

    Great points here Chris and, as you said, nothing new. This is what you've been saying for a while. I hope more people start listening.

    I'm not exactly sure how to approach adding people to my list of people I'm following on Twitter. Should I be following people I find interesting or just anyone? For the time being I pretty much follow everyone who follows me.

    Lately, I've followed some people who were clearly ONLY interested in pitching their products. Very disappointing.

    My message back to them has been, what's social about what you just did?

    I'm happy to make new friends and I'm open to following people I've never heard of, I just hope the idea of Twitter as a community catches on before I go insane.

  • http://www.TechHerding.com dickcarl

    Interesting the the focus of the declining MSM is “how to make money” and Mr. B turns it on it's head with focusing on helping people, providing value, and listening to your community.

    Be honest, Chris — did you intend the irony, here?

  • Denis

    Job gets one who knows better how to do it. When classic media ask bloggers how to make money it looks promising.

  • http://ariwriter.com Ari Herzog

    Hold on a moment. Is Oprah's success attributable to HER or the people she hired to work for her and/or the networks and publishers who hired her to speak for them? Community protection is different depending on who's asking the question.

    As for why you're so famous all of a sudden, it may be due to your blog's mention in the latest issue of ENTREPRENEUR.

  • http://www.r4-ds-karte.ch r4 ds

    I can say this is one of my favourite posts.Day by day making money online is getting popularity.This is also because of the fact that there are a lot of websites that are active; this gives people the chance to work at home and earn a decent amount of money for themselves.

  • mikemarinelli

    You are spot on with your point about relationship-minded people winning out. Become a trusted resource, that is what small businesses want and what they really need.

  • http://artofgreatthings.com Jeffrey Tang

    Relearning these lessons (especially number 4) over and over. It can be hard to think about promoting other people when you're worried about how your own business/movement/idea is doing … but unless you look outside yourself a little, you're not going to build a real tribe.

  • http://twitter.com/premiumweb Glennette Goodbread

    Great advice Chris! I would add “Be persistent”. It really pays off and is crucial in this fast-paced world that is the internet.

  • http://www.mindadventure.com/ rob white

    Being 'A LISTENING' and being crystal clear about asking …. YES, Chris, from my perpsective, these are the 'big two' to making money anywhere in life. People love to be heard (so listen), and if you are a fuzzy asker, money becomes an abstraction rather than a reality for you.

  • sanchezjb

    All good points. However I believe Oprah grew a community not around content but around ideas. The context and context then followed those ideas.

    You two points on “Add more value than promotion” and “Promote and recognize others” are excellent! Marketing, sales, and professional services organizations would do well to remember this.

  • http://chrisbrogan.com Chris Brogan

    Okay, I can accept that variation. Ideas that would've gone nowhere, had she not formulated them into useful content. Can you agree with that?

  • http://chrisbrogan.com Chris Brogan

    Yeah, that “all of a sudden.” The NYT and Wall Street Journal bestseller, the Ad Age top 5 blog, the Inc Top 10 of 2009, Dr Phil show.. you're right. Entrepreneur talking about me tweeting is what did it. : )

  • http://chrisbrogan.com Chris Brogan

    The thing I love about “nothing new” is that people don't often execute on it. They know it. They feel it, but when it gets down to the implementation, there's truly nothing new, because there's nothing changed.

    As for adding people, delete the folks who don't do it for you. Me too. Delete me if I'm not doing it for you. : ) That's how I look at it. It's truly opt in.

  • sanchezjb

    We agree.

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  • http://www.LangfordMedia.com jlangford

    Chris, excellent tips. This is something that I always try to do, especially the listen, add value, and promote others. Look forward to meeting you in Lawrence!

  • peterlincoln

    Great read Chris, thanks for sharing! I agree with everything you said. Adding value is the perfect way to build a sustainable business, otherwise you will constantly have to be looking for alternatives on what is trending now to be there. Building a sustainable business means that people will trust on you and you will become an authority on an specific field. That will be not just far more rewarding but also great to monetize at any point. I recommend entrepreneurs to join http://startups.com Q&A

  • http://www.mikestenger.com Mike Stenger

    I think you pretty much hit it dead on, Mr. Shoemoney :-) Just kidding. I think A LOT of people would learn by simply “more value than promotion” as that's what you tend to see a ton of, promotion. Less talking, less listening, BUY MY SH*T! tends to be a popular choice.

  • http://twitter.com/meaghanrr Meaghan Roberts

    You pretty much hit the nail on the head with this! The five tips you provided not only go for a big company like ABC, but for any company. Listening always seem to be where people struggle. All of your points and even selling is centered around listening. If someone is trying to sell me something I want them to listen to what my needs are, not necessarily what their needs are! Thanks for the insight!

  • http://mydarabell.com/ Dara Bell

    The Opera point would explain the free books under peoples seats in the audience. Loyalty sometimes has to paid back or acknowledged. The Grow Bigger Ears and Clear Ask are great points. The Clear Ask is useful fornot-for-profits. Seth Godin is complaining they cannot close, I think they just do not have a Clear Ask.

    What is you want a plant a tree for something and then actual support on a rally. You find the Tree campaign has been replaced by wristbands and the message and the money can get lost. But this could apply to your volunteers too.

    I feel Opera was an ambassodor to address the point Sanchez made. She would seem fanatical about Health and Well Being and Spirituality, she promotes the work of others actually this takes in Chris 4 point. Promote and Recognise others, her success comes from this and largely from being seen in her home town and in her community.

  • http://mydarabell.com/ Dara Bell

    The Afterthought

    Expect more TV appearances.

  • thomsinger

    Your point about promoting others is huge. I have made some of my best online contacts from mentioning and praising people on my blog. They reach out and say “thanks” … and now we have a foundation for a discussion. Not all lead to real relationships, but many many do become real friends. You do this not only on occasion — BUT ALL THE TIME. It puzzles me that people do not pick up on that can copy. Imagine a world where all bloggers dedicated some amount (a third or a fourth?) to genuinely praising and promoting others. That would create a cascade of good will.

    Yet I see too many bloggers who have NO blogroll, never promote someone's book (or other project), and never make appeals that do not involve buying products from other people. They are stuck in an old media mindset (companies didn't often pay for ads for OTHER companies, unless with co-promo funds). They make all their words about promoting themselves. But your point on promoting others should be required reading for everyone on the planet. (Is that asking too much?).

    thom

  • http://twitter.com/katarzynagola Katarzyna Gola

    Chris, great interview! Many bloggers still don't get it what the difference between bringing the value and the selling process is.

  • http://chrisbrogan.com Chris Brogan

    I always love what you have to say. : )

  • http://kikolani.com/ Kristi Hines

    Promoting others shows that you actually do listen to your industry and that your main goal is to help people, not just to sell them your own product / service for everything. I have referred people to other many times because I knew that someone else could do a particular job better and guess what? When that person had another request, they came to me to see if I could do it or recommend someone else because now I had their trust. It's definitely a great tip!

  • http://www.swfkits.com/ Jessy brown

    Good suggestions. Thank you very much Chris.
    i will keep reading your articles

  • boomer54mark

    Nice to see that you are always consistent…I mean this in a good way. You stayed true to what you have been sharing with us in your blog for a long time.

    The old adage of give people what they want and they will beat a path to your door. Or something like that.:)

    All of this ties into your excellent book “Trust Agents”, if other commenters have not read it yet then shame on them. Go buy the book and do the action items.

    Boomer54 Mark

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  • http://twitter.com/Curt_Montague Curt Montague

    Short and sweet Chris. I like the consistency of your message.

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    Well the new innovations in the Internet gives us the opportunity to make money online.Social media marketing sites like Facebook and Twitter also allows to promote the business.

  • http://www.rezdwanhamid.com/ Rezdwan Hamid

    Hello Chris, thank you for sharing this with us. I like the last point most and wish to learn more about it. I think I'm very bad at it now.

  • http://nathanhangen.com/blog Nathan Hangen

    I'd like to explore the “being protective” aspect. That's an interesting way of looking at it. Has a huge impact on them too, knowing you've got their back (and your network too).

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  • http://www.nobrainerdeals.com Ryo

    Great post, I do this daily with my sales job but have a hard time translating these techniques to the web. Hope to see more in the future.

  • http://www.facebook.com/mitchfanning Mitch Fanning

    Great advice Chris!

  • http://jimsmarketingblog.com Jim Connolly

    As usual, some useful points here Chris.

    Kudos on the coverage – well deserved my friend.

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    The real winners are the people who are not related to the mind only the first sale, but all subsequent sales.

  • http://www.kherize5.com Suzanne Vara

    Chris

    Listening is a big part here but we see where people listen with one ear. Sure they have their alerts set up and keep tabs on what is going on but really never seem to listen and hear. People around you are talking and being there to jump in is great but with what are you jumping in with? Is it with a sales pitch for graphic design when they are looking for a tv commercial? Maybe that is a bit too far off from each other but we can see the idea. Listening also involves hearing so you can personalize and gauge your response so that the response addresses the needs and is not a sales pitch.

    Promote and recognize others- makes sense and is practiced well until it seems like people become done. There is a time when whether it be time restraints or maybe it is intentional where it looks like a shark meeting a school of fish. No-one is safe from the personal promo when we long enjoyed the content that they were sharing by promoting others. I do wonder when people stray and think or find more value in promoting themselves as they are almost destroying their community and not protecting it. Commenting here is hopefully adding value to the readers but is also letting people know I am here which is self promo. Now, when I share the article that is promoting the article but also me as I appear here. When you look at it this way, you can see where there is more of a balance and then start thinking of more ways to promote others with the understanding in doing so, you will always appear.

    Oprah is protective of her community as she built it and will not share anything that will destroy it. That is good business and has kept her on the air for all these years and will take her into her new show. If we are not willing to protect once we build they why should anyone ever even become a part of our community?

    @SuzanneVara

  • http://www.iangilyeat.com/ Elizabeth B.

    Regarding relationships, I would have to add “be genuine”. It drives me nuts when I see sales people only act interested in the relationships part just to get the sale. Let us focus on building relationships not only to get a sale, but because we genuinely care about people.

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  • ankush009

    NO! M NOT AGREE WITH YOU. you meant from above lines that you are not a big blogger or money maker. but i m really not agree with you. I could say this becoz i daily read your blog and many more. But i find ur blog to be more familiar to me. Your are better than all other blogger.

    Ankush,
    http://ankushwood.blogspot.com

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  • Mike

    Excellent post.

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