Once you have built your audience, your next challenge is to find ways to monetize it. In this blog, we’ll dive into the top 3 ways to make money as a creator.
Being surrounded by tons of monetization options is overwhelming as creators. There are just way too many ways to choose from.
This blog will help you weed through the noise. I’ll walk you through the top three monetization options for new-age creators like you.
Monetizing your YouTube channel
Being a Youtube creator has its own perks. It might feel like a crowded place or overtly competitive, it still has got the potential. By creating top-notch content, you will be able to cut through the noise and build an audience on YouTube.
In order to keep your subscribers hooked, you can create vlogs, tutorials, and educational videos.
However, monetization is becoming a time-taking factor. Monetizing your content creation on Youtube takes time, especially if you want to generate a steady and full-time income around it.
The YouTube Partner Program limits who can monetize their content, based on the number of public watch hours and subscribers. Even after making it into the program, YouTube will take a whopping 45% cut for each payout.
- Ease of set up
- Passive income
- Quite a Low margin (revenue split ~ 50/50)
- Zero control on the content being advertised
- New creators can’t monetize soon enough
However, you can make money from a smaller YouTube audience. Let’s get into our next monetization strategy.
Related: The Best Community Building Platform
Sponsorships and influencer marketing
Brand sponsorships and influencer marketing involve you promoting a brand or a product to your audience, who might be interested in these products.
However, this isn’t like Affiliate Marketing. Here, you either receive a fixed amount or amount based on the engagement your content brings.
Influencer marketing mostly focuses more on creators with loyal and engaged social media followings. It’s not limited to Youtube. No matter where your audience is, brands can reach out to you.
Brands have started to choose influencer marketing as an important marketing strategy to reach their target audience. 80% of marketers find influencer marketing quite effective, as it brings in quality traffic.
If you are wondering, remember that you don’t need a sky-high follower count to be a creator today with brand deals. Keep a community and a niche, keep making it active and engaged.
- Nano Influencers: between 1,000 and 5,000 followers
- Micro Influencers: between 5,000 and 20,000 followers
- Mid-tier Influencers: between 20,000 and 1,00,000 followers
- Mega Influencers: between 1,00,000 and 1 million followers
- Celebrities: more than 1,00,000 followers
- High return (Lots of $$$)
- Free products and gifts
- Requires a critical mass of followers before this can be a full-time income
- Requires you to endorse a product that you may not personally believe in
- Dicey for smaller creators
Related: Top Productivity Tips For Creators
3. Selling Online Courses
At Graphy, we’ve created an ecosystem that allows creators to join the creator economy and earn their first online dollar.
Creators can quickly monetize their audience (however small that may be) by taking online sessions and launching online courses.
These help small creators create a steady source of passive income which can be scaled into a full-time income without uncertainty.
- Pay a small % only when you earn
- Monetize your existing audience immediately
- Analyze data
- Initial Course Awareness Activities
In order to make money as a creator, start now!
No matter how small your audience may be, you can quickly monetize it by launching your first paid session.