Is there an easy way to make money online? With live streaming, yes! In fact, there are several!
Here’s how you can easily monetize your own knowledge or expertise by consistently going live on your Facebook page or Youtube channel.
Go Live and Make Money Online
Decades ago, earning money from home wasn’t even heard of. Making money previously meant you need to break your back as an employee or business owner.
Thanks to today’s technological advancements, anyone can easily make money online from home. Live streaming has allowed experts in various fields to get paid for their knowledge even when they’re not physically present.
In the US, adults watch nearly six hours of videos a day according to a Nielsen survey in 2018. While Research and Markets believe that the live video streaming industry’s worth will grow to $70 billion by 2021.
This means the number of people looking for live video content in the market will only grow in the near future.
Coaches, consultants, and even owners of physical stores have resorted to live streaming to connect with customers and other audiences. That’s because more and more people have found live broadcasts to be more accessible, entertaining, and helpful in reaching their own goals.
Thanks to live streaming tools like BeLive, reaching out to a new audience and engaging with potential customers can now be done with just a click of a button. You don’t need to buy crazy expensive equipment anymore to go live on the internet. You’ll be airing your first live in no time!
The question now is how can you monetize your content? Here are some easy ways you can do that with live streaming.
Easy Ways to Monetize Your Live Videos
If you’re knowledgeable in a certain niche, then you can definitely create content around that and go live with it on Facebook, YouTube, and other platforms.
Once you’ve established your live streaming setup, you can monetize your video in these simple ways.
Drive Traffic to Your Main Page
Live streaming may not be your first foray into monetizing your expert knowledge. You may already be managing a blog or website already. That’s not a problem!
You can definitely go on a live broadcast to direct traffic to your existing site. It’s a great way to build your business brand as well.
Another way to drive traffic to your site is to write a blog post on a topic relevant to your broadcast. You can share this article to your audience through chatbots such as Manychat. That way, you’ll be able to advertise your site to your viewers without sounding like a salesy weirdo.
Don’t forget to share your website’s link in the description as well as show it visually on the screen. You can also use a Bitly link for your site specifically for the live stream to monitor how much traffic you get from it.
Camera Confidence coach Molly Mahoney used her live streams to redirect her audience to her online courses and was able to earn a seven-digit revenue! Find out how she did it in the video below.
You’ve probably noticed a clip or two being inserted into a YouTube video you’re watching and waited 5 seconds to be able to skip it. Those short clips are actually ads that help content creators earn. Since it’s one of the easiest ways to set up, almost every creator has them in their videos.
There are 2 ways to monetize through these types of ads:
- Pre, mid, and post rolls. These clips play before, during, and after your live stream. Having them on your show would just be like watching cable TV for your viewers. However, they may end up exiting your broadcast out once an ad starts playing.
- Banners or companion ads. They appear at the bottom of the stream that entices your audience to click. But they can also be as easily removed.
Your viewers can send you donations while you’re live. You can set up an external donation link that your audience can click on or use YouTube’s Super Chat.
Super Chat allows viewers to pin their comments by paying for them or by purchasing Super Stickers. Viewers usually do this to get noticed by the streamer or just to show their support.
You may need a significant following on social media or traffic in your blog to use this method. That’s because brands collaborate with you to endorse their products or service during your live stream.
Since there are a lot of advertisers in the market right now, you will be able to get sponsorships without too much hassle. Companies know sponsorships are immune to AdBlocks and are relatively much less stressful than traditional advertising.
Partners or Affiliate Program
Sign up for an affiliate program to earn every time a follower purchases a product you endorsed on your live stream.
When you get approved, you’ll be given a vanity link to you can share with your followers during your show.
It’s pretty much the same with a Partners Program. You get an incentive with every signup or sale your link generates. With BeLive, you can earn with the Invite-A-Friend program.
All you have to do is talk about the product while you’re live and share your link to your followers to get a commission.
It’s basically the same as face-to-face events. Viewers will still get value from the speakers and online events just like when they pay for tickets in real life.
There are a lot of sites that will allow you to do that, such as TicketSpice which can be integrated with Facebook Live and YouTube Live. And with BeLive, you can go live to both at the same time!
If you want to go the (slightly) traditional route, then live selling would be the perfect way to make money online through streaming.
BeLive’s Live Sales feature allows you to show what you’re offering on-screen complete with the description and price of your products.
Our own Marketing Manager, Irene Chan did an experiment on this and came up with some surprising results. Check it out in this post.
Update: BeLive’s Live Sales feature just made selling your products while you’re live even easier! Now, every time you show your product onscreen, you can automatically send a link to the item in the comments section. You don’t have to send the link manually or use bots to share it with your viewers anymore!
This new feature makes live selling so much easier for you to do and helps you focus more on your broadcast. It also offers a more enjoyable shopping experience for your viewers!
Which Option Will Help You Earn More?
Every one of these monetization options will work amazingly for you, depending on your need and capabilities.
Every option has pros and cons and you can try experimenting with them yourself.
You’re not restricted to just one way either. You have the option to try whatever may work best for you.
If you want to make money online, then you should set your goals and find the best way to reach them. Most importantly, press that start button and start engaging with your audience.
Sign up for a BeLive account now and start earning money with your live videos. You should also join our online community to get more tips on monetization, brand building, and more from over 20k live streamers, entrepreneurs, and content creators!
Pam is part of BeLive’s marketing team as a content writer. Living in the Philippines, she loves the comfort of home but jumps at the chance to travel anywhere new! This means exploring new places (particularly restaurants) makes her happy! She’s eager to try cuisine from around the world, but a lot of times her palate prefers Filipino food made with love. Overall, she lives in awe of everything new and tries to live life in the most exciting way she can.