For many in live streaming, the goal is to turn a live show into our full time “day job”. That requires monetization strategies to make it all bring in enough money to become a primary source of income for one person. Maybe more than one! But we don’t want to sound like an ad. Live is all about honesty, and ads tend to have a feeling of insincerity about them. How do you bring in money without driving away your viewers?
First, be consistent
Your viewers are the most important part of your live streaming plan. They will ultimately be what interests sponsors and enables monetization. So, this comes back to what we’ve been talking about for a while now: Be consistent. Build that trust with your community by being someone they can trust, through consistency in your shows and genuinely caring about your audience. Once you’ve done that, it will be much easier to bring products to them that you genuinely believe in.
Selling your own product vs. a sponsor
You might have your own product you’re bringing to your audience. Or you might be representing a sponsor’s product that you believe in. Both of these lend themselves well to a host endorsement. Those work much better than a 30-second-spot style ad, and they don’t alienate your audience. (Facebook doesn’t even allow pre-roll or post-roll ads.)
We think of our audience as our friends. With that in mind, you shouldn’t try to sell things that won’t give them value. Don’t hard sell. Everyone can decide for themselves whether something you find valuable will serve them as well. It should be more like recommending a really cool thing you’ve discovered to a friend. Keep that tone in mind to keep things from getting pitchy.
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