How to monetize a forum?

GMerov

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I have a shot at purchasing a forum. The forum has a deep rooted loyal community. And, it was first in serving its particular category. In its category, it is well known nationally and somewhat well known internationally. It has never been monetized. No subscriptions ever of any knid and has never gone after any PPC revenue of any kind.

What would be a sound strategy to monetize this forum?

Thanks in advance!
 
You might as well just google "how to monetize a website" because nobody can give you any useful information without knowing far more about the forum and you probably don't want to give up the industry or website. Likewise, I'd be concerned that you're considering purchasing something with no concrete ideas of your own on how to monetize that asset.
 
OK, thanks for your advice Prentzz.
So there's no standard strategy to monetize a forum.
Interesting.
 
@GMerov Day 9 of the Digital Strategy Crash Course is all about different monetization options available for different style of site: https://www.buildersociety.com/threads/day-9-monetization.1278/

You can start of with Display Ads or use the email list to start a newsletter and upsell affiliate offers. There are literally dozens upon dozens of ways to make money if you are buying a brand with a loyal user base.
 
Most important thing is not to piss that loyal community off. I've never used the warriorforum (or was it wickedfire?), but whenever I hear about it in peripheral parts of the internet I only ever hear "it was great until they ruined it with monetization", "now it's dead", kind of sentiment. Apparently things like putting the good stuff behind a paywall. Communities do fade out, generally by some individual or some group within that community rebelling and starting a new one and gutting the old one by poaching old members by PM etc.

One thing I'd suggest is very narrowly tailor whatever monetization you do use, i.e. keep ads well in the niche. That's common sense already, but it applies doubly in a forum because if people start seeing "one weird trick, doctors are angry" style ads they won't just not click, they'll get pissed off and think about leaving or rebelling. But if it's a forum about turbochargers, and you sell ad space to turbocharger manufacturers, even the most grumpy members won't grumble much* -- it's something they're interested in anyway.

*unless it's a popup; don't be one of those bastards lol
 
Ya that's my number concern re: pissing off the loyal community. This community is generational, young and not-so-young have been coming to this forum year after year after year.

Thanks so much for the example and advice!
 
Joe said:
Most important thing is not to piss that loyal community off. I've never used the warriorforum (or was it wickedfire?)
Click to expand...

Wickedfire was great until Jon killed it, although to be fair the forum was kind of dying already. He just stuck the nail in the coffin so to speak.

Here is my perception of what basically finished it off, so I guess this is a lesson in what not to do:
  • Claim everyone's success is due to you and everyone owes you and should pay you.
  • Jacked up the prices of Buy Trade Sell section way up. I think prices went from $20-30 to $200+ for each thread. This essentially killed the Wickedfire BTS very quickly.
  • Take any remotely valuable content and put it behind a paid membership. The community created the content and now has to pay for the content they had access to for years? This drove a lot of people away.
  • Promise new and exciting content to paid members, and then don't follow through.
 
You can put ads for guests only. Have different monetization plan for registered users and guests.
 
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