https://www.mediasupport.org/publication/the-social-media-monetisation-p...
This Social Media Monetisation Playbook will provide you with practical strategies and tips for creating and monetising content on social media, as well as insights into the unique challenges and opportunities that come with operating in a non-English speaking environment. Whether you’re a seasoned media professional or a novice just starting out, this book is the perfect guide to help you navigate the complex world of social media monetisation and succeed in the digital age.
This playbook was written based on the experiences — both the successes and failures — of On.ge, a digital media outlet based in Georgia, in the Caucasus region. Despite operating in a region and language not favoured by most social media platforms in their official monetisation programs, On.ge has succeeded in leveraging their social media assets to create a viable and sustainable source of income. In Georgia, as in many other markets, many of the traditional methods of monetising social media are not readily available.
Advertising revenue from large corporations is limited, due to the small size of the market, and sponsored content can be ineffective due to the language barrier. Therefore, media managers and journalists in a country like Georgia need to be creative and think outside the box when it comes to monetising their channels. This can include developing unique content and building a loyal following in order to leverage partnerships and collaborations, or exploring alternative revenue streams such as affiliate marketing and e-commerce.
“Financial sustainability remains a paramount concern for independent media outlets in Georgia. Although efforts are made to diversify revenue streams, the linguistic limitation poses a significant barrier. With the Georgian language spoken by only 3.5 million people, many prominent internet platforms do not perceive this demographic as substantial enough to cater to. As a result, numerous monetisation and revenue diversification avenues remain inaccessible for Georgian outlets,” says Dodie Kharkheli, Strategic Advisor at On.ge, who has lead the production of this report.
While this playbook is based on the experiences of independent media in Eastern Europe on key social media channels (Facebook, Instagram, Tiktok, YouTube), its content could be relevant for all media outlets in smaller countries, operating in smaller languages.
“While our initial intent was to share this strategy with Georgian peers, our interaction with IMS illuminated the potential applicability of our methodology beyond our borders. It became evident that media outlets, irrespective of their origin, faced parallel challenges due to linguistic constraints. Thus, our insights could serve as a beacon for all those operating in languages traditionally overlooked by direct social media monetisation,” Kharkheli says.
Iryna Vidanava, founder of the Belarusian digital magazine CityDog and co-author of the IMS Native Advertising Playbook, points out that you do not necessary need a large mainstream audience to monetise your journalism.
“Media organisations might not be fully aware of their potential on social media platforms, therefore doing an inventory of existing digital assets is a great start. The Playbook explains how even niche communities can be monetised, but also how every community must be nourished to remain active and attractive both for users and for partners.”
Dr. Clare Cook, Head of Media Viability at IMS sees this kind of knowledge sharing as crucial in a time where digital platforms are becoming increasingly unpredictable and volatile.
“It is very easy to get overwhelmed by the constantly shifting and aggressive landscape of social media platforms, particularly in terms of monetisation. Knowledge sharing and increasing the evidence base of on-the-ground experiences is a crucial part in pushing back against the economic inequality being faced.”
The playbook breaks down some of the strategies and insights that can help you navigate the challenges of social media monetisation, and prepare you to adjust your strategies accordingly.
The Social Media Monetisation Playbook is the second in the Revenue Playbook series. The first entry in the series, the Native Advertising Playbook, is available here.
