How to Make Money Streaming - 6 Ways to Monetize Your Video

How to make money streaming - 6 ways to go live and get paid

In this article, we are going to see how you can make money by video streaming or in other words monetize your live video stream.

1. Run ads

Running ads is one sure method of monetizing your live video stream. There are two types of video ads - In-Stream (Linear video ads) and In-Display (non-linear video ads). The ads that are displayed before the video are called linear video ads while the non-linear ads are the ones that the viewers see concurrently while watching the video.

Ads are a great way to monetize your video content, but it's tricky. You need to play the ad, get the viewer to click on it, and at the same time ensure that the viewer doesn't get bored and leave your live stream. Plus, major platforms like Facebook and YouTube have different regulations for video streaming and running ads.

When to run the ads - the best time would be when the creator or the person doing the live streaming wants to take a break. Time the ad correctly - don't leave the viewer hanging in the middle of a sentence!

When you're running a live stream on YouTube, you can play the ad at any point of time in your live video. However, do try to keep your audience informed that a break would be coming up.

On Facebook, not every video streamer will have the option of taking a break. If your Facebook page displaying the live stream has more than 50,000 followers and more than 300 concurrent viewers in the last live video, you can take a break after 4 minutes.

If you want to maximize the earnings from your live video stream, you need to build traffic to your website or your Facebook page. When you have higher number of visitors, the number of concurrent viewers increase, so the chances of ads converting are higher, which translates to increased revenue.

2. Subscriptions/Pay per view

The other way to make money from your videos is to get your audience to subscribe or pay for your video. You could release a teaser, giving the audience a taste of what is to come. If the viewers want to watch more, they need to subscribe to your page or pay for the video. Streaming platforms such as Vimeo Live and IBM Cloud have in-built subscription features.

3. Donations and Crowdfunding

A recent study by Deloitte Global found that "Donations are also an emerging element of the business model for other live-streaming platforms, including platforms used for streaming video game play." Many live streams are asking their fans for donations and in return giving them virtual gifts.

Crowdfunding is another method to monetize your video stream. Indiegogo, Kickstarter and Patreon are a few of the popular crowd-funding platforms. You need to create an account on these platforms, build your project, specify your goals, and then promote your project on other platforms, so people visit your project page and contribute to it.

4. Affiliates

Setting up an affiliate program is a sure way of monetizing your video stream. It could however take time to establish and give you the returns you expect. The best part is that once you have set it up, you can passively earn money as your video gets more popular.

You need to first link up with affiliate platforms like Amazon and Flipkart. You can create videos about products sold on the platforms. If you have a video stream that focusses on technology, then you can choose such products. For example, a mobile phone - you can create a video about the features of the mobile phone, trouble shooting tips, best ways to customize the cell phone, and lot's more. At the end of the video, direct the viewer to go to the product page on the affiliate platform. Every time a viewer clicks on your video and goes to the affiliate site, you earn a commission.

5. Sponsorships

If your live stream channel is popular, then you can confidently approach the larger players in the market for deals and sponsorships. Brands don't come forward to sponsor your video stream, you need to take the first step and approach the right people. However, when you're doing that make sure you stay within your niche. The theme of your video should be in accord with the brand that is sponsoring you.

6. Sell your products

Live videos are a great opportunity for subconscious selling. For ages, marketers have been using this technique to sell products and services to their audience. However, you should remember that subconscious selling only happens when you have already built the trust in your viewers. Market research shows that a person is more likely to buy a product when someone in his/her social group has already purchased it. That's why influencers play a huge role in promotions. However, you don't have to directly sell your product when you're streaming the live video. Use the product and then casually talk about its features and where one can buy it and then go back to your video's main theme. This could subconsciously encourage viewers to check out the product and buy it.

Live video streaming gives you plenty of scope to explore your passion, share your views with your fans, and still get to earn money. To make the maximum earnings from your live video streams, you can use a mix of the above 6 ways. Competition on the internet is very high, so you need to continually work to keep your fans' attentions so that they keep coming back to you. To keep your fans interested, your video content needs to be interesting, useful, and clear. Create great videos and build a loyal fan following - you can surely see returns on your investment.

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Discovering the Idea That Earns You Millions

We are in a digital world where almost everything is integrated into a single system of the world wide web. We are in an era where we don't have to have a shop to sell our products, an era where we don't have to meet to communicate, an era where we don't necessarily need to follow the traditional door to door method to advertise our products but rather an era where everything is done in a simple and faster way.

With the high rising level of graduate unemployment in Nigeria, I began to think of the way out as I will soon be graduating from the University. Then I recalled listening to speaker at the World leadership forum emphasizing the statement "You don't need capital, what you need is an idea". I began to brainstorm about the statement for the fact that I am scared to be an unemployed graduate like the millions who are yet to secured a job.

However with time, I began to understand that the leading world entrepreneurs never started with a capital but rather an idea. Bill gate the richest man in the world never did start the Microsoft with an a huge capital but rather his idea, Mark Zuckerberg the Facebook CEO who is also the fifth richest man never start the Facebook with capital but rather an idea, Steve Jobs who is also a Co-founder of Apple start the company to revolutionalize the smartphone industry with just an idea, Jobberman was created out of an idea, Linda Ikejis blog was created out of an idea and in fact every good business that developed into a multimillion dollars was created out of an idea.

To look further into it, I discovered that capital is easier to get but no matter how huge a capital is, without a good idea the capital is a waste or can be lost whereas a good idea is difficult to find and never can it be lost. so the question remains how do you discover a multimillion dollars idea. How do you break from the chain of unemployment in Nigeria. Below is a five tips to discover that business idea that will change your life forever.

5 TIPS TO DISCOVER A GOOD BUSINESS IDEA

1. OBSERVATION: To discover a good business idea, one has to observe things and circumstances around him. As you wander in the land of observations you need to be able to identify what people do often, what challenges they face on a daily basis, what they need, how they want their needs to be met, when and where. As you observe an ask yourself all this questions you must be able to identify the way out.

Steve Jobs will often go to the park to observe how people listen to music, Mark Zuckerberg possibly observed what if he and his friends don't necessarily have to meet on a daily basis but rather connect online to gist and share pictures, JOBBERMAN knew people submit their CV and application letter directly but what if they can do it on their behalf.

So the most important aspect in discovering an idea is to observe the market you are interested in, how do they go about doing their businesses, is they anything that needs to be readjusted and many more things.

2. IDENTIFY A PROBLEM

Your observations will be futile and unnecessary if you are yet to identify a problem in the way people conduct their business. Idea can only be realised out of the desire to offer solution and better services to people. JUMIA and KONGA discovered a problem in marketing, so they create an online market where you make purchases and get it delivered to your door steps, if you are yet to discover any problem that needed o be resolved then you are far from identifying a multimillion dollars idea.

3. OFFER A SOLUTION

Now that you have discovered the problem in the way people conduct their business as an entrepreneur, you must offer a solution that fills that gap or void of unsatisfaction in the customers of such market. This can come by reading books and materials related to that niche of business.

4. MAKE A FEASIBILITY STUDY

Have you discovered that idea you think might fetch you millions, you shouldn't just ventured fully into it but rather make a feasibility study to ascertain if that solution you are to offer is viable. This entails possibly preparing a survey or a questionnaire to hear the views of your potential customers about the service you are about to offer and how they feel about it. You must however delink your emotions from the answers you received.

5. IMPLEMENT YOUR IDEAS

This aspect has to do with the financial aspect to your idea. Don't panic, they are a lot of people who will be willing to sponsor your idea if they found it fantastic and viable. You can obtain loan from the financial institutions here (Guaranty trust bank, Access bank, Diamond Bank etc) here in Nigeria at a minimal interest rate, but all you need is a good business plan.

In conclusion, do you have a superb idea that will fetch you money, you don't have to wait, the time is now. Forget the fact that you need to school and come out with a good class of degree, what is important is the fact that you move out of your financial bondage and experience a world of financial freedom and independence. Remember Bill gate, Steve Jobs, Mark Zuckerberg and many more business tycoons were dropouts at a point in time but today the world has written their names in gold, you can also achieve same. Good luck.

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