There’s no better time than now to diversify your monetisation streams.
We’ve all been feeling the pinch of inflation. With the cash rate continuing to rise, which currently sits at 3.10%, and no short-term solutions, business owners and entrepreneurs are strategically searching for new ways to diversify revenue streams.
In 2022, Linktree saw a huge increase in users taking advantage of monetisation features, an avenue that allows users to generate revenue in a variety of ways. After crunching the numbers, in 2022 Linktree averaged 19.7 million clicks to monetisation links monthly and garnered 21.2 million clicks in October alone. We’ve also unearthed a number of trends and insights that demonstrate how Aussies are adapting to higher costs of living.
This was one of the most interesting trends we discovered as it clearly demonstrated users have been concerned about inflation for a while now; it was fascinating to see how much this was being talked about and linked across various platforms and spaces. From side hustles to starting new jobs and collecting multiple streams of income, we anticipate this trend to grow over the next few months as Australians ride the wave of inflation and search for new ways to monetise their craft.
Across the board, Australians are being very conscious of how much they’re earning and have been looking for ways to maximise their earnings.
One of the best ways to do this is to tap into monetisation features and collect commerce from different places such as your website, social media, and newsletters. We discovered commerce transactions on Linktree are up 86% year on year and 19% since May. This paints a clear picture that users are willing and able to monetise across platforms to boost their revenue whether it is by linking their store in their bio, pushing social content with links to buy products, or simply asking for their communities to donate so they can continue their venture.
For example, there was increased use of monetisation features on Linktree such as its “Tip Jar” link, which enables users to collect tips and raise funds, and the “Requests” link, where users can earn money by taking paid requests and is primarily used by artists and entrepreneurs. Based on my previous experience working with artists and agencies, it’s recommended to build a strong community and loyalty with your audience as they will play a large role in how successful these features are for you and your venture.
With a few side hustles and business ventures under my belt, it’s great to see businesses and entrepreneurs maximising their potential earnings by having multiple streams of income. The hustle never stops, and we discovered there has been a 31% increase in Linktree users creating links to make money with Venmo, Paypal, Shopify, eBay, Amazon, Square and Spring (which enables users to sell products and accept payments) just since May. We’re attributing this to business owners and entrepreneurs discovering the benefits of having multiple streams of revenue and reaping the benefits of doing so. By tapping into your community and promoting your craft, you’ll have the capability to streamline your work while diversifying your revenue.
A business owner who is doing just that is Anaita Sarker, who runs a sustainable packaging business called Hero Packaging. She says that she uses the tools on Linktree to maximise traffic and clicks to her website and third-party sites to generate revenue.
“Linktree guides my audience to specific pages on my site. I can drive all traffic from paid ads, organic social posts and SEO to my Linktree and it personalises the customer journey by having a mix of product page links, videos and blog post links.”
Anaita is also a content creator and uses the tool for her own personal brand.
“I use it to monetise my audience by selling tickets to my events and using my brand affiliate links to guide my audience to purchase those products or services. It’s an incredible tool for business owners and it has helped me to easily monetise my traffic.”
This boom of using monetisation features is just the beginning for Aussies, and my advice to business owners and entrepreneurs who haven’t explored new ways of earning is to just start. There are a number of tools out there to build new forms of revenue; there’s Substack and Beehiiv for newsletters, Kajabi for course creation, Podbean and Buzzsprout for podcasting — the list goes on and we can expect to see more and more people making the most of them as we navigate our current climate.
Anthony Zaccaria is the co-founder and chief operating officer of Linktree.
