Top 5 Tips to Monetize Your Following!
Top 5 Tips to Monetize Your Following!
Ever wonder what you can do with all those followers you keep getting? You provide them entertainment, its only fair you get something in return. There are many ways to monetize your following but not all of them are very effective. Instead of wasting your time trying everything on the internet try these 5 simple tips to start making money off your following.
1. Affiliate Marketing
Affiliate marketing is when other companies compensate you when your fans purchase their products. You can quickly register to be an Amazon Affiliate, and get paid a every time your fans order from Amazon! Post a link to your hardware underneath your stream for an easy kickback from Amazon.
2. Direct Sales
You already have a following, you know the fans are on board with your brand. Its time you start making some merchandise for your fans to buy. This can be as simple as creating physical products like hats and t-shirts with your name and logo on them or you can even create digital content. Creating an Ebook is a great way to provide a bunch of value to your followers, if somebody can get their hands on an entire ebook full of quality content at a good price its a no brainer for them. Your Ebook can be anything from a short and sweet bullet point list or a complex read that provides a ton of information. The best part about Ebooks are the profit margins, it costs you $0 to produce and you don’t have to deal with storage or shipping.
You have a bunch of eyes and ears on you and your channel and you can use that to your advantage. Large companies will begin to notice you as your following grows, you can leverage your following to get you and your fans some really great products. Sponsorship deals can very drastically from one deal to the next, you might get paid just for mentioning a particular product in a video or livestream. You could dedicate an entire video or stream to a particular product as a large promotion. Just like your merchandise, sponsorships can come from physical or digital products. Its common for Razer to sponsor Esport Streamers by sending them new Razer products, they understand your audience can see the products you use on a daily basis and allowing you to show of new products is good advertisement for them.
Your following watches you for a reason, they want to be like you. Take advantage of your high level skills by sharing them to your fans with 1 on 1 or group coaching sessions. Online coaching is the same thing as traditional coaching, except you never meet in person. The beauty of the internet allows us to digitally coach and help our followers in a 1 on 1 setting regardless of where they live.
You set the price
Coaching 1 on 1 can be time consuming, so only do it if its worth it for you. One way to ensure a 1 on 1 session is worth it is to increase the amount you charge. Charging more may reduce your client count but it will also free up your time.
Sometimes its easy for us to forget how skilled we actually are. Yea, chances are that there is no way your followers will be able to reach your skill level with coaching alone but they will defiantly leave the coaching session better off. Playing basketball 1 on 1 with Michael Jordan isn’t going to make me an NBA level player, but who wouldn’t want to spend an hour in the gym with a legend?!
Online courses are quickly becoming one of the most popular ways of income for online personalities. If coaching is working or has worked in the past you may want to look into courses or workshops. A course is basically recorded coaching sessions that guide users through multiple steps, each one helping the user improve. Lets take a look at some of the benefits courses provide:
The best thing about courses is that the membership based system. You know exactly how much money you will be making each month of your course alone.
Leverage your time
Helping an entire group of people is a lot more efficient than 1 on 1 coaching. Instead of spending all day coaching, you can coach 4 or 5 of your followers all at the same time. Pre-recording your course videos also allows you to work when you have the time.
Become an authority
Wether you are helping people get better at video games or teaching them to stream their content a training course will help solidify you as an authority in your market. You will be the one everyone begins to go to for help, your brand will begin to grow and you will see an increased reach.
Courses can be static and have a set end point or timeline or they can be open ended and consistently updating and improving. You can charge one large fee upfront or implement an ongoing membership based system. Your followers may even respond better to courses than live coaching since they can participate at their own pace, they have the ability to take their time or jump ahead. This is great for streamers with a large following as their fans skill levels will very greatly.
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