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!
With the stay at home orders being implemented around the world, interest in how to monetize on YouTube has also grown. But what if you don’t possess the editing skills needed to upload polished videos on YouTube? Here’s an easier alternative — live streaming!
Monetize YouTube with Live Streaming?
When people think of ways to make money on YouTube, they automatically think of in-stream ads and partnerships. However, not all YouTube channels can automatically qualify for monetization.
To qualify for the YouTube Partner Program you’ll need to have the following:
- An AdSense account
- At least 4,000 valid public watch hours in 12 months
- At least 1,000 subscribers
- Residence in a country where the YouTube Partner Program is available
Though it’s true that creators get decent income from YouTube’s Partner Program, there are many other ways to earn money through the platform. One of them is through live streaming.
Live streams add to your view count on YouTube during and after your broadcast. People can search for the video and replay it, too. But aside from the view counts you can get, live streaming can be used as a powerful marketing tool for your business as well.
Thanks to live streaming, small business owners, soloprenuers, and organizations can make money without paying for extremely expensive advertising plans. If they don’t have AdSense, they can still use YouTube to earn money offline as well.
Not all businesses can afford elaborate and expensive marketing plans, but live streaming offers a way to connect with their intended audience immediately and cost-efficiently. After all, with live streaming, all you need is a good camera, good lighting, and a reliable internet connection to start engaging with your audience and eventually, earn money.
So how exactly can you earn money through YouTube live streaming?
Ways to Monetize YouTube Live Streaming Offline
Here are some ways to make money from your live videos beyond the conventional YouTube monetization program:
Online shopping has been taking over the retail industry for years now but static websites don’t offer the same customer service experience offered in brick and mortar stores. That’s where live streaming becomes an essential marketing strategy for your shop.
Live streaming brings the customer service experience that clients want in their online shopping journey. Small businesses selling clothes, jewelry, or other items can interact with their potential customers during the broadcast, allowing them to answer their clients’ specific inquiries and sell their products in real-time.
BeLive‘s Live Sales feature makes selling online an easier and less expensive process. After all, creating a website and setting up a complex online shopping system is an investment small businesses may not be able to afford.
Live selling is an easier and cost-effective alternative to creating a site similar to Amazon or Alibaba. Here’s what you have to do to utilize the feature:
- Upload photos of your product in the BeLive Studio
- Input the name, price, and description
- Choose YouTube as your stream destination and start streaming
- Show the gallery on the screen with you and talk about the products as you flip through them.
Remember to itemize your products so viewers can easily type in their orders in the comments section. You should also set up delivery arrangements before your actual live selling broadcast for faster transactions afterward. Check out these other tips for an awesome live selling journey
Conferences or Private Coaching
Because of the coronavirus pandemic, most are conferences, speaking engagements, and one-on-one coaching sessions have either been canceled or postponed. Live streaming on YouTube can help with this.
Streaming a lecture or webinar on YouTube can help coaches or speakers reach a wider audience. They can conduct free seminars or online workshops then upsell the participants to a more private, paid conference.
K.M. Robinson, a marketing, social media, and branding strategist utilizes YouTube very well. She also uses the platform to announce new releases and discuss her experience as a young adult writer.
Watch her discuss audiobooks with other amazing authors in her YouTube Live below.
If you’re a coach, strategist, or speaker and would like to create paid conferences for your business, you can make your live stream private and share it only with those who signed up for it. You can also create a website with a signup system or a private group on Facebook for exclusive announcements and content about your next live.
Sponsorships, Partnerships, and Affiliate Marketing
Aside from in-stream ads that you can get from watch hours and subscribers, earning from YouTube also includes sponsorships, partnerships, and affiliate links.
Live streamers partner with companies to promote their product or service with a contract. They either get special discounts, freebies, or payments when they partner with a company.
They can also get commissions by endorsing affiliate links to their viewers. The great thing about live streaming is people can use the link while you’re live streaming and then others can catch it through the replays.
YouTube Live Streaming Benefits
Live streaming on YouTube has a lot to offer for your business other than the monetization option. Here are some benefits to going live on YouTube as a marketing tool:
- Building relationships with customers – The longer you interact with your viewers while live, the more your potential customers get to know you and your brand.
- Faster ROI – You just need your laptop, Internet, a headset, and a microphone to go live right away. Since BeLive videos are already branded, you don’t have to spend hours editing your video. This gives you more time to spend on sales instead of production.
- Multiple marketing avenues – The fun doesn’t stop when you end your stream. You can repurpose one single video into several other marketing outputs like blogs, short clips, social media posts and stories, and more.
- Improving credibility and building trust – Because you listen to your customers’ feedback in real-time, you can improve your product or service right away. This gives people the impression that you sincerely care for them.
Know more about how you can use BeLive to earn more on YouTube with this masterclass from our own Irene Enriquez Chan!
Learning how to monetize on YouTube isn’t just about being eligible for the Partner’s Program. Going live can help your business stand out and reach success without waiting for a long time to become eligible.
Also, remember to repurpose, repurpose, repurpose! One live broadcast can go a long way to getting you recognized and appreciated by your target market.
Are you just starting your journey in live streaming on YouTube? Check out these helpful live streaming links:
Learn more about live streaming on YouTube and how important it is to your marketing strategies. Join our online community and connect with over 19k live streamers and enthusiasts now!
Sign up with BeLive now and start streaming branded live videos on YouTube!
Pam Amantiad is a Content Writer in BeLive’s Marketing Team. With a degree in Creative Writing, she has nearly a decade of experience in digital marketing, particularly in content creation as a copywriter and a freelance blog writer. Not contented with producing written outputs, she dove into the world of live video marketing in 2019 and hasn’t left since.