Monetizing Communities with Kim Dang

Josh (00:00:03) - All right. We got five minutes on the clock. What is your name and what is your podcast show?

Kim (00:00:08) - Hi, my name is Kim Deng. I'm the founder of GroupConvert and the podcast show is Convert Your Community with Kim. And it's all about building communities and monetizing from your community.

Josh (00:00:21) - Yeah, I love this idea of community because sometimes in the audience, you have no control of what goes on out in the world. You pull them into a community and then they become your loyalists, your fans, and you can make money doing it. How do you go from pulling them from the audience to community?

Kim (00:00:38) - Yeah. So specifically utilize Facebook groups. I've been specializing in that in the past three plus years. And contrary to popular belief, you don't need a huge community. We've been able to help our own clients extract around 50 to 100 a month on small communities of around 100 to 200 people. So imagine taking the environment of an in-person event and putting it filling a room with virtual people. You don't have to have a lot.

Kim (00:01:11) - 100 200 people is fine, and converting about 3 to 5% of that into a higher ticket offer. So my audience are specifically coaches, course creators and agency owners who want to figure out what to say to a community to convert one to many. And we utilize Facebook groups for it.

Josh (00:01:34) - Wow. Brilliant. Because I think a lot of times people focus on the front end product and they're like, oh man, I need to charge $1000 or $10,000 or 100 grand, and they have low conversions. You build a small community and you're focused on that 3% that will close the 3 to 6 people who are going to really move the needle. How in the world did you come up with the idea? Because it's brilliant.

Kim (00:01:58) - Well, I started off, so I ran a dismantling company, which is like a wrecking yard. And so I came from like a very blue collar, like start, a wrecking yard background from scratch. And the opposite end of the spectrum is affiliate marketing. My friend convinced me to get into that, and part of the training around that is to create your own Facebook group so that people can click on your affiliate links.

Kim (00:02:24) - In that process, I saw that people were copying and pasting the questions and answers as they're coming in. You can answer three questions as part of the Facebook group community, and all of those questions and answers immediately disappear once you click approve. So Facebook doesn't store that. So in my quest of like, okay, how do I store this? I had a developer create a Chrome extension that could extract that data. And I started selling that Chrome extension for like $10 a month. And that became hundreds and then thousands of users. And from that, I discovered that people weren't just trying to collect emails from their Facebook group. They want to monetize it. And that's when I got into creating a whole education based platform and courses around monetizing these Facebook groups. It's a very logical next step in the journey of me solving their problem of getting leads from a Facebook group itself.

Josh (00:03:24) - Yeah, brilliant.

Josh (00:03:25) - Going from blue collar scrapyard to affiliate marketer and community builder, what was the biggest mindset, challenge and transformation you had to do?

Kim (00:03:38) - I had to let go of the belief that I have to be physically in a location, because I was, I went, I was going to my warehouse every day, and I was hiring people in person locally, and I had to shift everything over to a very much remote world.

Kim (00:03:55) - And that shift was letting go of a lot of a sense of control and figuring out how to still have an engaged environment, even though everyone is tuning in virtually.

Josh (00:04:07) - Wow. So cool. I love your story and I think it's great. What's the name of your podcast show so that people are listening in, they can go, wow, I want to learn more about how to create and monetize a community. What's the name of your show and where can people go to connect with you?

Kim (00:04:22) - Convert your community with Kim Dang, I always push everyone into my website group convert.com and from there you can go and sign up for my email list which will plunge you into my Facebook group, into my world, into my shows. So I just funnel everyone into one location. So it's really easy for for anyone to just find me. Group convert. You're just converting groups, you're converting communities. And yeah, that's where you should go.

Josh (00:04:55) - Brilliant. Ladies and gentlemen, listening in, I encourage you to reach out to our guests, find what they're doing, figure out how to work with them.

Josh (00:05:01) - And we did that all in five minutes. Have a good day. See you on the next episode.