Welcome to 2020 and the ‘Building your Digital Estate Blog’. This blog series will be focused on the various strategies, platforms, tools and techniques related to building a valuable and profitable digital estate for your personal brand or business.
To begin the process of building your digital estate, let me first begin by defining in-depth what a digital estate actually is and what it consists of. Much like a physical estate, a digital estate is an abstract reference to a collection of tangible owned assets. A collection of electronic information assets that exist on the internet and on devices. In a digital estate, those assets revolve around data and the collection of digital properties and data sources utilized to generate it.
Digital assets include (but are not limited to):
- Social Media Accounts
- Web Applications
- Mobile Applications
- E-commerce properties
- Audience User data
- Digital Music
- Online Files
- Virtual Currency (like Bitcoin)
- Even assets you have accumulated in video games
Now, when built correctly, the collection of these assets can drive incomes of six or even seven figures and for enterprises can create an entirely separate digital business. In order for these digital assets to increase in value they must generate revenue. The following are the various types of revenue streams a digital estate can generate.
- Product/Service E-commerce Sales
- Ad Revenue
- Influencer Marketing
- Affiliate Marketing
- Software as a Service
Also, what is extremely important to note regarding Digital Estates is that much of what is created online constitutes a user license and not actual ownership. For example, you don’t own the hundreds, thousands or millions of followers you may have accrued on Facebook, Instagram, SnapChat, TikTok, etc. Therefore, how do you begin to convert all the hard work you’ve put into building a following over to actual ownership of that audience?
The first step is to convert your followers into actual subscribers and obtain their direct contact and geographic data. This will allow you to greatly increase your reach of that audience while growing your revenue in the long term. I’ve built a platform to get you started and you can begin completely free: