Chapter 1: The Crucial Element of Personal Brand Monetization

Years ago, I had the privilege of spending time with The Black Keys, and it imparted a vital lesson about how to monetize a personal brand. If you haven't heard of The Black Keys, I highly recommend checking them out. They embody a fun, raw, and blues-infused rock sound, making them one of my all-time favorites!

Now, back to my experience. When I first met The Black Keys, they weren't filling stadiums as they do today; they were performing in smaller venues, accommodating around 1,000 fans. However, they were on the rise, fueled by significant momentum and a recent album produced by the well-known Danger Mouse.

Curious about their turning point, I asked Patrick Carney, the band's drummer, what moment had elevated their career trajectory. This question was particularly relevant for me as I was in the midst of developing my own personal brand. While I wasn’t aiming for rock star status, I wanted to establish my presence in the digital marketing field.

His response was unexpected. Gradual Progress

He stated, “There wasn’t a singular moment. We just focused on consistent improvement. Each album performs slightly better than the last. You need to keep advancing, growing your audience one performance at a time.”

Reflecting on their journey, it's clear this approach worked. The next time I saw The Black Keys, they were playing before a crowd of 3,000 at an amphitheater in Columbus, and not long after, they were headlining arenas like Madison Square Garden. Today, they rank among the top rock bands globally.

What’s the takeaway for us?

The Illusion of Viral Fame

Looking at successful individuals in the digital and social media landscape, none have achieved “overnight success.” Chris Brogan, a notable figure in social media, once shared that it took him three years to gather his first 100 blog readers. Subsequently, he became a prominent speaker in the industry.

There's excessive focus on the allure of “going viral.” I've had several posts gain viral traction, amassing thousands of shares, likes, and comments. However, the impact on my business? Minimal.

Here’s a graph illustrating my blog's subscriber growth since 2013 (I actually began blogging in 2009):

Consistent progress is key. Every year shows slight improvement, similar to The Black Keys' journey.

Avoiding the Boom Myth

Whether you're a musician or a blogger, the chances of experiencing a sudden surge that catapults you to fame are slim. Instead, focus on honing your voice, creating quality content, and persisting year after year.

For instance, my most viral piece, titled “Content Shock,” was released in January 2014. The graph shows that it had little effect on my subscriber numbers — reinforcing that there’s no alternative to unwavering, steady effort.

If you remain dedicated, you can eventually build a substantial audience that allows for monetization.

It wasn't until my third year that I landed a sponsor for my Marketing Companion podcast. I didn’t see significant income from my books until my fifth publication, “The Content Code,” in the sixth year of my new career path. It took me three years of hard work before I started receiving lucrative speaking opportunities.

Building a Meaningful Audience

So, what is the cornerstone of monetizing a personal brand?

Are you prepared for this?

You must cultivate a considerable audience that genuinely cares about you. This level of engagement cannot be achieved overnight.

In my coaching sessions, I often encounter clients who are eager to generate income immediately, seeking quick ways to monetize their blogs or podcasts within weeks or months. Unfortunately, that’s unrealistic.

It requires years of dedication. In fact, adopting a three-year perspective is crucial for achieving substantial success with your personal brand.

In my well-received book, KNOWN: The Handbook for Building and Unleashing Your Personal Brand in the Digital Age, I present extensive research supporting this gradual approach. I outline a four-step process for developing your personal brand, noting that it typically took about two and a half years for the successful individuals I studied to establish a brand that gained traction.

During my interviews for KNOWN, I asked successful people from various fields what set them apart. The consistent themes I heard were “tenacity,” “persistence,” and “resilience.”

Realities of Monetizing a Personal Brand

I don't want to discourage you, but it's essential to have a realistic understanding of the journey toward personal branding success.

Here are some current truths about personal branding:

• Often, the personal brand IS the corporate brand.
• A personal brand can transition between careers, providing a sustainable competitive edge.
• A strong personal brand can serve as a safeguard during economic downturns.
• Distinguishing yourself as a personality might be your saving grace in an age of automation.
• Successfully monetizing a personal brand can lead to deep satisfaction and a fulfilling career.

This is paramount! However, you must take that initial step, and most importantly, exercise patience as you build an audience that values you.

Does that resonate?

Thank you for taking the time to read this! For more insights, check out my top-rated {grow} blog, my Marketing Companion podcast, and my keynote speaking page. For updates and insights, connect with me on Twitter at @markwschaefer, view my personal life on Instagram, and explore my RISE community here.

Chapter 2: Strategies for Monetizing Your Personal Brand

In this video, "8 Ways to Monetize Your Personal Brand in 2024 (WITHOUT Brand Deals)," discover practical strategies to generate income without relying on brand partnerships.

Watch "How to Build & Monetise a Personal Brand in 2024? - Social Selling Masterclass" to learn effective methods for establishing and profiting from your personal brand.