Planning Your Monetization Mix is covered in DAY 4 of the Action Guide. It is a critical GO/STOP step in the C T P M process. Get feedback on your chosen Monetization Mix for your new business; or get tips on which monetization options work best for your niche.

Moderator: Sheri from Uneeda

#1391691 by Moorea S. from USA
Thu Feb 01, 2018 7:18 pm
Hi SBIers,

I'm on Day 6, and I've done some soul-searching about my niche. I've realized that my ideal site visitor is 14-16 years old. Once my traffic is high, will this be feasible for monetization? I have some ideas, but then again I haven't done this before. Fifteen-year-olds can't spend much money, and they don't have their own credit cards.

Moorea
#1391696 by Veronica from Blue Creek
Thu Feb 01, 2018 10:02 pm
I will say my 12 and 14 year old spend money online or as a result of something they've seen online. It would probably require building an Instagram and YouTube following. This is where they spend their online time. Most of this money comes from birthdays right now but I'm sure when my 14 year old gets a job he will end up spending plenty of his paycheck on stuff he finds online.
#1391902 by Moorea S. from USA
Mon Feb 05, 2018 4:45 am
Thanks so much for your responses, Debs, Jacki, and Veronica. I should have mentioned that I'm not a parent.

Veronica, exactly how are your 12 and 14-year-olds able to spend money online? I didn't have a checking account until I was 17; do they have checking accounts already?

Cheers,
Moorea
#1391916 by Cath, SiteSell Content Team
Mon Feb 05, 2018 1:21 pm
Hi Moorea,

I smiled when I saw this. I don't have children either, but when one of my nephews was just 5 years old, he bought a "Ben10" (his name is Ben) watch from someone in Florida (he lives in the UK!) on e-Bay. He had carefully watched as his dad entered his password for e-Bay and then later, gone back to the computer on his own, entered exactly the right password and spent, spent, spent!!

Luckily he only bought the two things before he was rumbled!

Kids these days are soooooooo much more tech-knowledgeable than ever before! And yes, all my nephews who are now in their teens have their own money to spend. I remember the days when I used to earn £1 for working in a veg shop on a Saturday. {{Sigh}}. The Good Old Days! Now I sound like my mother... :roll:

Having said all that, I wonder whether your customers are actually kids, or their teachers and parents? I absolutely get where you're coming from - it's the kids who have the issue with maths - but will they use this site themselves, or will they be prompted to do so by adults? So although the "end user" may be the kids, who will find the site, and what problems do they have / what solutions will they be looking for?

I don't know whether you saw one of our success stories which was recently featured on the blog - it's a very successful site in a similar niche. If you're interested, here's a link.

Cath.
PS Still chuckling about that memory - thanks for triggering it! :lol::lol:
#1391943 by Mary from Mico
Mon Feb 05, 2018 7:04 pm

Wow Cath!

That's one smart nephew!

Having said all that, I wonder whether your customers are actually kids, or their teachers and parents?


I would post the same Moorea. I, too, have a similar site concept and have also had to sort who my audience is. I've semi chosen parents as they are the ones who have to scramble to fill in the blank school work. Teachers have their systems and usually seem to search from there.

You could look at TeachersPayTeachers, too. Huge numbers of teachers have their work stored and sold at TPT.

I hope this helps.

Mary
Whew! Cath, I knew Ebay's one click purchases were scary, but now it looks even scarier! Thank you for posting as we have our first grandchild coming at the end of the month.....
#1391946 by Moorea S. from USA
Mon Feb 05, 2018 7:41 pm
Cath, that's a funny story! Now that I think about it, I was earning money when I was 14-16; I just didn't yet have a bank account. I'm wondering exactly how youngsters of that age are able to spend money online without asking their parents for their credit card number and then paying them back (which might be feasible, I suppose). Or maybe 14-16 year-olds do have checking accounts?

To answer your questions, my current plan is for kids to find my site themselves. I was a teacher for a decade (including 6 years in an online school), and I learned how most students operate in the age of the internet. My plan answers your question of "what problems do they have / what solutions will they be looking for?" The question is how monetizable a site frequented by 14-16 year-olds is.

Yes, I read the article about Math Salamanders, and I enjoyed it. In fact, I was happy to learn that it was an SBI site -- I hadn't known that until the article came out in SBIX. I would love for teachers to be my ideal site visitor, but I feel as if there are already a million sites providing teaching materials. My current idea is unique because I'm in the unusual position of having taught in an online high school. The websites I've seen that provide help to high school students are obviously made by adults who don't understand how today's teenagers think and work.

Thanks for your response, Cath. :)
#1391947 by Moorea S. from USA
Mon Feb 05, 2018 7:47 pm
Mary, I remember how very helpful you were to me a few months ago, when I was going back and forth between parents or teachers as my ideal site visitor. I don't think I should choose parents because since I'm not a parent, I don't think my writing would resonate with them. I think I would say things that alienated them or sounded phony or unrealistic.

Yes, I created an account at TPT a while ago, just in case I decide to take that angle.

Best wishes to your first grandchild!
#1391952 by Dee from Cape Cod
Mon Feb 05, 2018 9:16 pm
Hi Moorea -

I'm not a parent, either. But I do have a niece and nephew who've been spending money online since they were in their early teens.

How do they do it? With gift cards they receive for birthday, Christmas and other occasions. When they started working summer jobs, they opened their own bank account and had their pay direct deposited. (Apparently, the concept of a pay check is "sooo 1990s". :roll::lol: )

So, there are lots of ways that kids spend money online these days. If you can tap into that market, go for it! :D

Best Regards,

Dee
#1392378 by Veronica from Blue Creek
Mon Feb 12, 2018 4:18 am
Moorea S. from USA wrote:Thanks so much for your responses, Debs, Jacki, and Veronica. I should have mentioned that I'm not a parent.

Veronica, exactly how are your 12 and 14-year-olds able to spend money online? I didn't have a checking account until I was 17; do they have checking accounts already?

Cheers,
Moorea


They have to ask me first and we do paypal for most of the things they buy.

Veronica
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