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!
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:
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?
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 Shopping 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 shopping 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:
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
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.
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.
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:
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 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.