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3 Steps to Creating Revenue Through Livestreaming

Livestreaming has experienced a surge in popularity over the past year. Businesses want to capitalize on the trend, but aren’t sure how to use video to turn social media campaigns into actual dollars. How can businesses create video that users want to watch? How can they attract audiences, and what’s the best way to monetize livestreams? Grab a camera and find a well-lit area to start engaging audiences with these tips.

Tell Your Story

Video can be intimidating, since most of us aren’t professional actors or newscasters. Think of how you would tell your story to a close friend or a business acquaintance with whom you have good rapport. Before you start, draft the beginning, middle, and end of the story you wish to tell.

Plan your tone and your attire to match the tone of your business. Think of the camera as your interviewer and maintain eye contact with it like you would a person, so audiences feel they’re in a conversation with you.

Draw in users by offering content that shows what goes on behind the scenes. Humanize your company by showing how your team works together to solve problems.

Attract Your Audience

Great videos are a waste of resources if no one watches them. Polish your brand’s personality and plan video content around what matters to your users. Professionals use consistency and inclusivity to engage:

  • Consistency – Begin livestreams on a schedule, broadcasting at the same time every week so users know when to expect you. You’ll become a regular feature of life, and it’s easier for them to invite friends to join them in viewing your feed.
  • Inclusivity – It’s possible to stay professional and still show that your business is human. When users feel they can identify with your brand, the personal connection makes it easier to meet your marketing goals.

Monetize Your Video

How you turn livestreams into revenue depends on your type of business. Weigh your options to find the strategy that works best for you:

  • Pay-per-view – Set a price and charge users for access. This is straightforward, but doesn’t allow users to share video on social media.
  • Insert ads – Plug your product or services or add a link to promotions within the livestream. Use Google Double-Click for Publishers to create ads that work like commercials for traditional television.
  • Donations – Allow audiences to contribute with a built-in donate button.
  • Use videos for lead capture – Live video attracts viewers so you can follow up. Use lead capture tools to follow up on social media feeds with email marketing.
  • Sell content – Offer recordings of live content to related businesses and other media distributors.

Draw in your audience, humanize your business, and offer engaging content to boost sales.