How to Monetize Your Home Improvement Projects and Inspire Others
Home improvement projects can be difficult and costly, so if you can make money for your renovations to make the process less stressful, why wouldn’t you? One way to make money in this regard is to monetize your efforts by sharing your projects with the world. Brought to you by Shirley Martin of Tidy Life Today, we explore some great tips and resources that will help you monetize your next big home improvement project.
Choosing a Home Improvement Project
If you have a home that needs many fixes and adjustments, it can be difficult to know where to start, and if this is you, then you may want to start with the projects that can actually add value to your home. Some of the more popular projects in this regard include kitchen remodels, window and entry door replacements, and installing new LED lighting. Curb appeal is also a big deal these days and a project as simple as replacing a garage door can do wonders to beautify your home.
Once you start gaining fans of your home improvement channel or blog, talking about these value-adding projects may get their attention. However, before you gain that fanbase, you will need to find the money to pay for the initial project, and to do that, consider taking out a home equity loan. Basically, this is money that is subtracted from what you still owe on your mortgage, so you can pay it back later when you are able. Right now, many housing markets are hot and you could have more money available for this loan, making this the best time to do your home improvement project.
Now that you have decided on your renovation, the next step to monetizing your project is to find fans that will watch your video or read your blog and give you money to see more. Finding and building a fan base is sometimes easier said than done, but the easiest way is to add a disclaimer at the end of your video that asks anyone who enjoyed your content to subscribe and mention all of the perks they get when they become a paying member.
If you have a written blog, you can give a call to action at the end of the article that encourages readers to subscribe and join. In either case, you also need to stay in your audience’s mind by posting constant content on a regular basis. You aren’t the only home improvement blog in town so you need to stand out with a slew of original content.
Another way to monetize your home improvement efforts is to use the tried and true method of placing ads on your website or YouTube videos. There are many resources to use in this regard. Many people go to the most popular options, which include Google AdWords and the Yahoo Ad Exchange. In many cases, you need to have a certain number of website views to qualify, but once you do, you can place ads that visitors can click.
You could also make money in this regard by talking about specific products on your videos and then put affiliate marketing links to those products in your description. Essentially, these are links that your visitors can click and if they buy the item advertised then you get a percentage of the purchase amount. While you will only see substantial profits from these strategies once you have a good number of fans, it can be a great way to start.
Drive Traffic From Social Media
You can gain even more subscribers by attracting users via social media. You can go directly to social media websites like Facebook and place ads for your website or YouTube video. It costs a small fee upfront but if you can create an attention-grabbing headline and pull potential visitors to your site, you could see a big increase in profits and membership.
Make It Official
If you intend to continue monetizing your blog and social media accounts, then you may need to consider registering this project as a business with the state. For example, many business owners choose to register as an LLC, due in part to certain tax advantages it provides. Registering as an LLC requires a bit of paperwork, but working with a formation service like ZenBusiness can help ensure you’re handling everything correctly.
While monetizing your home improvement project may be just a hobby at first, if you stay vigilant and try these tips to gain fans and revenue, then it could one day turn into a full-time gig.