Digital libraries have all the potential to thrive as a business idea in this digital age. For the purpose of clarification, a digital library in this context refers to the collection of niched non-copyrighted videos from the internet, which you can then post on your platform/s to add value to your audience.
As a business idea, it is a bit like being a curator, and the goal is to collect niched information and share it online for the use of your audience, for monetary profit. This way, people looking for that information don’t have to trudge through the length and breadth of the internet, searching. They come directly to you, saving themselves time and effort that could be invested elsewhere. The more popular you become in your niche, the more people come to you for information, and the better your chances of monetising this business idea. You can sell products and services to your audience in the long run and also explore other monetization options. For more detailed information, please click this link: https://amzn.to/2TgDogU
The good thing is, with the amount of information online, you will never run out of content to share. A simple google search will tell you that about 300 hours of video are uploaded on YouTube every minute. That is about 26 million hours of upload every day. While 4.4 million blog posts are published every single day, and each month over 409 million people read more than 20 billion pages.
What Are the Benefits of this Business Idea?
Digital library as a business idea has a lot of potential, if you have the patience and diligence to grow an audience. The amazing thing is that the three parties involved stand to benefit in each their own way. As you share the content with your audience, you become an authority in that niche. This will present you with opportunities like vlogging, blogging, writing, researching, learning, public speaking, money and other open doors. While your audience gains knowledge, quicker access to relevant information, networking opportunities, and a sense of community. And then the content creators, advertisers and publishers get free publicity for their work. But in order for all of these to happen, you need to build a solid reputation by sharing informative content. For more detailed information, please click this link: https://amzn.to/2TgDogU
What is a Niche and How Do I Choose Mine?
A niche is simply choosing a fragment of a bigger market as long as that fragment has a separate identity, different set of needs and unique preferences that make it different from the bigger market. Choosing a particular niche is important because it positions you for a particular audience. It lends you credibility and authority, all of which gives you a competitive edge over generalists.
However, you could have more than one niche, which translates to having more than one digital library. The process of choosing each niche should be deliberate. There are things to take into consideration in order to succeed at finding and picking a niche that suits you. You should first evaluate what kind of content you are passionate about.
This might mean the content you yourself like to consume on a daily basis. Ask yourself which areas you have special skills or experience in. What do people constantly tell you you’re good at? What’s your training or education? What unique skills or knowledge have you developed through your work or experiences? Finding answers to these questions will greatly help you choose the kind of content you want to focus on for your digital library. In turn, this brings sustainability into this business venture, because it will take time and effort to build and grow your audience before trying to monetise your digital library. For more detailed information, please click this link: https://amzn.to/2TgDogU
How Do I Decide Which Content to Share?
The kind of content you share is what will draw in and keep people in your library. First, you need to research and find valuable content in your niche. In order to be effective. you should have an idea what kind of information will benefit your audience. Then post relevant keywords or topics on YouTube. When suggested videos come up, watch the desired ones before sharing. Make it a habit to always read and watch every single content before you post on your platform. Don’t just read a headline or the title of the video. Feeding yourself the content first will help you learn and measure the value of that content and decide whether it is worth sharing to your audience.
Some metrics you may want to consider include quality of the video, number of subscribers, views, thumbs-ups and thumbs down. Also ask yourself whether the video is useful, relevant, valuable and reasonable in length before sharing on your platforms. You will get better at choosing content the more you get to know your audience. Then you will know when a short video is in order and when a long video is worth their time. For more detailed information, please click this link: https://amzn.to/2TgDogU
Which Platforms Would Be Desirable for this Purpose?
Facebook, YouTube and Blog are all platforms you could use for the purpose of a digital library. You can use a Facebook group or page for this business. Sometimes you may have to pay to reach your target audience, but otherwise, it’s completely free. However, you don’t completely own any of these platforms. In the case of any breach of rules on any of your social media platforms, there would be consequences. With Facebook, for example, the page and the page admin will receive a strike when a content that violates their community standard is posted. And if the violation persists, after a certain number of strikes the whole page gets unpublished.
How Can I Grow My Audience?
Creating and growing your audience will require time and commitment on your part. You could start with your network of family, friends and acquaintances. Then it could explode via the viral effect of Facebook. You might also need to spend some money in order to reach a wider and relevant audience. For more detailed information, please click this link: https://amzn.to/2TgDogU
There are also other deliberate actions you need to take in order to grow your YouTube community faster. One way is to build and share your content around select keywords or topics. This is an important step if you want your content to reach a lot of people. Also, since YouTube is a place most people go to find videos on how to do stuff, there might come a time when a particular content might seem useful again, you might want to find such content and reshare it. And always remember that YouTube is a social media channel, so you might want to engage with your audience as often as you can. If possible, try to respond to every comment you receive.
How Can I Monitise this Business Idea?
Monetising digital library involves leveraging your audience to either sell your products or other people’s products and services for a fee. There are different monetisation models within this scope, including affiliate marketing, product sales, services sales, sponsorships, advertisements and endorsements. Some of these models can be used to monetise your Facebook page.
If you have a blog, Facebook links to an external site that is specially optimized for mobiles. Mobile traffic makes up over 50% of the traffic Facebook gets every day. With a responsive site, you can keep your traffic from Facebook on your site. You could also sell your eBooks on your page. Amazon and Barnes and Noble already have distribution platforms that Facebook lets you integrate easily. For more detailed information, please click this link: https://amzn.to/2TgDogU
You could also send traffic to affiliate marketing sites for a fee. But you will need to be an influencer with a large following to harness. With that, joining an affiliate network should not be difficult. Once you are in, post your link and get attribution for your contribution. Brands manage and track sales and traffic you drive through their affiliate networks. Other ways you could monetise your Facebook Page include coaching, public speaking, digital courses, etc.
For YouTube, monetising it can be done directly or indirectly, almost like its counterpart. If you are in the YouTube Partner Program (YPP), you can earn money through Ads, YouTube premium, merch, channel memberships, super chats and super stickers. To get in the YouTube Partner Program, YouTube expects you to meet certain criteria. Your YouTube channel has to have 1,000 subscribers and 4,000 watch time over the last 12 months. Also, you must have an AdSense account set up and you need to be a strict adherer of YouTube’s policies and guidelines. Your AdSense account is the medium through which YouTube can pay you. For more detailed information, please click this link: https://amzn.to/2TgDogU
What Are the Cost Implications of Doing this Business?
The cost implications of doing this business are almost next to nothing. You probably already have a computer, a smartphone or a tablet and an internet connection. You’d also need basic research and marketing skills, then either a blog, Facebook page or group. Facebook pages and groups are currently free to use, but you could explore using additional facilities, for which you may need to pay. The free services Facebook offers should be enough to start the process as soon as you are ready. You could then invest in more resources as time goes and as more revenue is generated.
What Are the Legal Implications?
The essence of this article is to give you a general idea of what a digital library is all about and a foothold to start from. You are expected to nurture it into something that will benefit you and your audience. There should be checks and balances put in place to avoid sabotage and fraud. To learn more about intellectual rights and copyright laws, please seek legal advice and check the terms and conditions of YouTube and Facebook. Their rules change from time to time. You are very unlikely to own intellectual rights, as the original work is probably not done by you. For more detailed information, please click this link: https://amzn.to/2TgDogU
Overall, it is very important to take legal advise and do your due diligence before embarking on this project or business. Pay your tax to the government as necessary when you begin to monetise.
Where Can I Get More Information on this?
For more useful information, check jacksinspiration.com. You can also purchase books, carry out Google and YouTube searches to increase your knowledge on the subject. There are also mentoring opportunities which usually facilitates the journey, but the process is too complex. Jack Lookman Limited could offer this service, and I’m sure that there will be other suitable mentors out there. Not only for this but for a wider scope. If you’re able to find an affordable and suitable mentor, who will not only mentor you through this but also through byproducts of this, such as business opportunities, marketing, networking, then there’s no reason why you couldn’t do it. If you do this successfully, you could also coach and mentor others and monetise the process.
Facebook pages you could check include Jack Lookman Ventures and Jack’s Dawah. A good Facebook group you could check is Empowerment, Inspiration and Support. But do bear in mind that you don’t have to be an expert, the full package before you can venture into this business. All you need is the basic knowledge of the subject area. You will master it adequately with time. For more detailed information, please click this link: https://amzn.to/2TgDogU
©Jack Lookman Limited 2020