Affiliate marketing, blogging, eCommerce, multi-level marketing, biz opps… whatever you want to call it, it seems like there is a name out there for every type of business model out there.
Something we’ve been seeing more and more recently is the business of selling ‘expertise’, and some bloggers and online marketers are generating millions of dollars from it! A perfect example of this can be seen through John Chow and how he is selling his expertise on how to find success with not only blogging, but also affiliate marketing, lead generation, and his referrals to MOBE.
While all of that can be segmented into a bunch of different categories, there is a new term that is floating around in reference to ‘selling your expertise’ — and that’s “Knowledge Commerce”.
The name is actually quite fitting, as this new trend of selling an expertise through online courses, videos, PDFs, private members blogs and even consulting, just seems to be growing year after year. Another reason why we are seeing such massive growth in this space is that it’s really easy for anyone to get started and selling online.
Kajabi is actually the company that came up with the name ‘knowledge commerce’ and they are coining it as their own and making it one of the main focuses at their business today. Through the information on their site and in their latest video, we can look at the following industry stats and get an idea of were online selling and making a business of our an expertise is headed.
An Untapped $245 Billion Industry that Keeps Growing
Jonathan Cronstedt, President of Kajabi, recently came out with a video that talked about the power of selling online and how there is now a massive $165 billion industry solely on the business model of selling information and expertise. What’s even crazier is that the number is projected to exceed more than $245 billion by 2020.
To put that in perspective, that is enough for 243,000 entrepreneurs, bloggers, marketers and business owners to have a million dollar businesses on their own!
Women are Making their Own Future in the World of Entrepreneurship
It’s no surprise that women are still making less money than men in the workplace. However, with more women making their way into the world of entrepreneurship and starting online businesses of their own, they are quickly finding themselves in complete control over how much they can make, and their earnings potential over time.
This is something else Kajabi touched on when they referenced:
Our research has also shown that Knowledge Commerce represents an excellent point of entry for women who want to start their own businesses. Nearly 900 million women will enter the workforce in new ways by 2020.
For online marketers and bloggers, this is really no surprise. While it might seem like the business world is still heavily dominated by a male presence, there are many independent women entrepreneurs online who have built amazing blogs, brands, and followings for themselves, while also generating a lot of money in the process.
The Internet is Expanding in All Areas
While it might seem like you’ve been on the internet forever, there are still many people getting online for the first time every day. To make this picture even clearer, don’t think about just people getting online for the first time, instead, think about how many people are searching for ‘how to make money’ or ‘start a business’ online for the first time. That is where the real potential lies.
It’s estimated that between 3 and 5 billion consumers are going to enter into this marketing within the next few years, and many of them are looking to become entrepreneurs and start businesses of their own. Yes, many will start traditional service and product based company, but many others will also focus on the business of selling their expertise.
This can also be seen when you look at the world of freelance — whether it be writing, designing, or whatever. Many freelancers start out working for others, then get so good at it, they become businesses of their own. Experts project that 40 percent of workers will be non-traditional employees by the year 2020.
Now is the Time to Start Selling Your Expertise and Turning it into a Business
One of the best decisions that I made years ago was to no longer focus on just ‘being an affiliate marketer’. For this to happen, I needed to start a new foundation and brand of my own. So that is exactly what I did when I launched ZacJohnson.com.
Ten years later and the blog has not only become a huge success, it’s also launched into many different areas and allowed me to start multiple businesses based on my experiences and expertise as well.
This is exactly what we are talking about when we are referencing to ‘Knowledge Commerce’. Not only is ‘knowledge power’…. it’s a whole lot of big money too!