Live streaming is taking the social media industry by storm again.
Although we have mentioned many times this isn’t anything new since there has been live streaming platforms like (Ustream, YouNow, Hang w/ Hangwith, LiveStream.com, Spreecast, and Google Hangouts to mention a few) around for years, this time around it’s a bit different.
Thanks to mobile, more “social media experts”, fomo, early influencers making millions, and better internet connections Live streaming is creating a whole new ecosystem of social media and digital addicts seeking attention and a connection with people online.
As one of the CEO’s of a new conversation platform Blab has mentioned only 1% are usually the creators, 9% curate, and over 90% just like to watch.
So why do people live stream?
There are a lot of reasons people live stream and in some cases people have a few reasons at the same time. However, eventually before the burn out hits or especially with the 1% that actually do the “live streaming” showing themselves they are looking to make money.
Before we get into that here are some of the reasons people are live streaming and have mentioned why on their streams…
- meet people
- give “value”
- collaborate with people
- build relationships
- get attention
- entertainment value
- addicted to live streaming and social media
- learn from others
- see the person they have been following online
- MAKE that dough
(feel free to leave a comment below why you live stream or why you think others live stream not on this list)
Now, let’s really get into why most people (mainly digital/social media marketers) are live streaming.. MONEY!!!
Even if it’s not directly mentioned, just watch a few live streams and notice the twitter bios or profiles and everyone has a leadpages landing page, collect emails, use Amazon affiliate links in the chats/comments, are selling a book, course, or a conference ticket about how to live stream, or are using it to get their “personal” brand out there live to attract people that might know, like, and trust them meanwhile they have a full or part time job paying them and rarely mention that brand that actually pays their bills.
We have actually seen “live streamers” that said they sell social media services and they live at home with their parents… WHAT? (lol)
Anyway, these platforms aren’t built not to make money and eventually they either sell advertising (Google/YouTube, Facebook, Twitter) against their users data or they are sold to companies that will (Facebook bought Instagram, Twitter bought Periscope, Google bought YouTube).
Here are some ways that the top 1% that rise to the top of these platforms can make money and to help anyone out searching Google for “how to make money on blab or live streaming” eventually just as they do over 22,000 times per month in the United States for Youtube, Meerkat & Periscope.
How to Make Money Live Streaming or Using the Conversation Platform Blab
- Create a daily, weekly, monthly topic focused show gain an audience and have someone sponsor the show. (Just like This week in startups, Howard Stern Show did (before subscription model with Sirius), TWIT.tv, and several podcasts)
- Product placement within each blab sesh (natively, people are doing this with microphones and using Amazon affiliate links, next step is contacting brand/company directly to buy wholesale and sell on their sites, or just get the company to pay them directly for using their product on the live stream)
- As we mentioned above sell your products, courses ect.. (the Grant Cardone model) or even a book just as Gary Vaynerchuk did with Jab Jab Jab Right Hook on Spreecast which now has his videos in “pay per view” mode for $1.99 which again could be a revenue model for live streaming.
- Teach someone what you do, how you do it, show results and share a call tracking # or trackable link in your live Stream headline and/or comment section for people to call you for a consultant or for them to become your client. (And not just selling how to use meerkat, blab, periscope ect..)
- Sell your live stream space (ads) – use a t-shirt, hat, live stream screen takeover ect…
What are other ways have you seen/experience people making money on live streams? Share in the comments below…
Before you start making money on Blab or Live Streaming check this out
UPDATED: Here is a marketers guide to Blab.im What you need to know….