Are you a live streamer and need to make money on Facebook live? If you are interested in the topic, continue reading.
The year 2017 saw a boom in the live video industry. Once only confined to television news, sports, and shows, but today we can go live at any time. Regardless of the viewers, anyone with a Facebook account can record their live video at any place and talk on a topic.
Other than the fun factor, what really attracts people to live videos is the opportunity to earn potential income. When someone comes on television, they’re paid royalties or a lump sum by the broadcaster. However, with Facebook and other social media platforms offering a live video feature, the earnings come a bit differently.
Make Money on Facebook Live: Best Tips
To help out those interested in earning through Facebook Live, below are a few tips and ways to get started:
1) Using Facebook In-Stream Ads For Live
Facebook itself has recently announced that it would start paying its users to go live. And this new feature is called Ad Breaks.
Within these videos, Facebook would place its own paid advertisements. The users running these live videos would get around 55% of the revenue from these advertisements.
Initially, only media companies, celebrities, and known online personalities could earn through Facebook directly. This limited group now is much broader. Those who are qualified enough would get notifications to go live and get paid from Facebook itself.
This is essentially the same offer that YouTube has been offering its users for quite some time now. Since Facebook has risen to a level of rivalry in the video area with YouTube, this next step of ad placement seems logical. Going live on YouTube was the platform’s main unique selling point, which is no longer special.
For joining the Facebook In-Stream ads program, you need to be 18 years old or up, and you must live in a country where in-stream ads are enabled.
On top of that, your page needs 10,000 active followers. So then, in the past 60 days, you need to get 6000,000 watch minutes. Sadly, Facebook will not count paid video views. Instead, they will count on-demand or live video minutes.
To check the eligibility, you need to go to the creator studio. Under the Monetization section, you will see the policy issues option. From there, you can view all the violations (if you have any). Once you are good to move forward, go to the monetization tab again. From there, you can set up the in-stream ads and get paid for your hard work.
2) Paid Partnership With Brands
If you have a large enough audience, you just might be a social media influencer. This could prompt companies and organizations to contact you for indirect advertising within your video. If many people tune in to see you and what you have to offer, some venture may even sponsor your videos. They could then get a shout-out at the beginning, end, or even the middle of the live stream.
For example, you could be going live to showcase your cooking. If you’re famous enough, some brands like Pillsbury or Betty Crocker could pay you to use their products in front of your audience. This is an excellent advertising opportunity for them and a lucrative one for you. Additionally, the free sample and supplies will likely make your fixed costs (for baking supplies, etc.) go down quite a bit.
3) Attract More Followers/Viewers
Whether you’re getting paychecks from Facebook or from other parties, the bottom line is you need followers. There are several services online which allow you to actually buy followers, but the most valuable audience is an organic one. If your organic reach is extensive, you basically have it made.
A few tips on how to attract as large an audience as possible are listed below:
- Announce your video before going live: If you’re worried that no one would tune into your live stream, announce the time and date on your page well in advance. Keep reminding your followers about the upcoming video, and encourage them to share and like your reminders. Give another special reminder an hour before you go live and another about five minutes before starting.
- Don’t go overboard: There’s a chance of turning off your viewers if you sound a bit too eager. Flooding people’s newsfeeds with the same reminder would make them irritated. Additionally, don’t make promises you can’t keep. If you promise a whole hour of excitement, that’s a really tall order. It’s better to keep things simple, engaging, and relatable.
- Write a description: If you write a fascinating description of what viewers would see in your video, that’s a plus point. You can edit the description after your broadcast in case you want to give additional information.
- Figure out the best time: Someone who seeks to earn from Facebook Live should keep an eye on the number of viewers. If they see that the viewers at a certain time are more prominent in number, influence, or activity, this is valuable information. They should then try to go live at the best time to gain more influence and hence earn more.
4) Engage With Your Audience
Don’t just settle for having a lot of viewers and/or followers. If you see you have quite a few ‘eyeballs’ indicating the number of viewers, ask them to say hello in the comments. Or encourage questions, give exciting answers, or even hold a Q&A session.
At the end of the broadcast, recap the whole video to let the stragglers catch up. It’s a good idea to do a recap halfway and three-quarters into the broadcast as well. It’s also good to have a friendly, relaxed atmosphere. Most people are on social media to take a break from their schedule. So it’s good to give them what they want in the best manner possible.
5) Focus on Content
If you don’t have good quality content, chances are you won’t be able to attract many followers. This could put a serious damper on your dreams of earning from Facebook Live. Hence, your content needs a unique point to attract viewers and consistent and high quality. It doesn’t matter if the content is funny; you may find yourself losing viewers due to something crass or politically incorrect.
One should also make sure to take just the right amount of time. A short video might leave viewers hungry for more and more likely to tune in next time. However, a long video has more chances of attracting more viewers. Nevertheless, one should see when the number of viewers starts tapering off and wrap things up before boredom sets in.
6) Affiliate Links
If you are a gaming streamer, you may be using a powerful PC to play your games. Also, your viewers might be interested in the gaming PC specifications. What you can do is, sign up for the Amazon affiliate program, create affiliate links, paste them inside the description.
When someone clicks on your affiliate link, purchases a product, you will earn a small commission. You can withdraw the commission to your bank account when you reach the minimum payment threshold set by the eCommerce company. You can also pin your affiliate links inside the comments for maximum viewability.
7) Promote Other Channels
YouTube can be a good source of income for content creators. With some software like Streamlabs, you can go live on YouTube. From there, you can accept payments/donations in the form of superchat. When you go live on Facebook, mention your YouTube channel in the stream.
You can add the channel link in the description or as a pinned comment. People would love to subscribe to your YouTube channel and enjoy quality content. This way, you can have more subscribers, more revenue from Facebook and also YouTube.
8) Facebook Stars
If you are a game developer/creator, Facebook recognizes your effort and helps you make money from the live stream.
To stream your Gaming videos on Facebook, you will have to join the Facebook Gaming Creator Program. Once you become a Gaming Creator, you can stream videos and build community pages around the games you love. To help these emerging Gaming Creators, Facebook has its own Level Up Program, opening up the opportunity for earning money.
Facebook fans can support their favorite Gamers by sending virtual goods. Facebook has its own virtual currency called Stars. Facebook Users can buy these Facebook Stars and send them to their favorite game creators.
Gaming Creators who are eligible to receive these stars should first set up their payment account. You can do this by visiting your Streamer Dashboard. Here you can check the number of stars you have received.
However, to note, each star is equivalent to $0.01. Therefore to earn a reasonable sum of $1000 per month, you need 100,000 stars every month.
Frequently Asked Questions
Here are some of the frequently asked questions regarding Facebook live video monetization.
How much money we can make through Facebook live?
Well, it depends on your viewers and the monetization method you use. If you are planning to make money through Facebook stars, you will earn money when someone donate you stars. On the other hand, if you are planning to use affiliate links as the monetization method, you will get commission when someone purchase an item through the affiliate link.
How to increase your video views?
You need to publish engaging content on your Facebook page for attracting visitors. Plus, you can also pay Facebook for gaining more video views, website clicks, page links. Make sure that your Facebook visitors are being converted to subscribers.
Will they count paid views when it comes to monetization?
No. Facebook will never count paid video views when they plan your revenue. You need to get organic views for maximum revenue and you can achieve it by publishing quality content.
How to do affiliate marketing for better revenue?
You can join any affiliate program like ShareASale, Amazon affiliate program, Impact, Commission Junction and get your unique affiliate URLs. If you are streaming any games, you can get gaming console affiliate links and paste them in the video description or in the comments. Like it, you can also get affiliate links of gaming monitors, keyboards, mouse and also some GPUs.
How to make money with Facebook stars?
For helping content creators, Facebook got a stars program. One star is equivalent to $0.01. So when someone send you stars, they will be added to your account. For earning $100 a month, you need to get 10000 stars a month from your subscribers.
Do you have to pay for Facebook live?
If you are a content creator, there is no fee for going live. But, a stable software like Streamlabs is recommended for maximum performance and live handling. On the other hand, if you are a viewer, Facebook live is always free. You can view any live video you want. And, of course, you can help the content creator by sending stars or sharing the stream.
Wrapping Up
Earning money through Facebook Live is entirely possible these days. It’s getting more accessible now, but just as with any means of earning, Facebook Live also demands quite a bit of work. One has to promote their videos to get more and more followers and keep working on new and better content. It’s also tough to stay relevant in this game, so one has to remain alerted and remain in the picture at all times.
Note: This is a guest post by Scarlett Erin. If you wish to contribute to BlogHeist, check our guest blogging guidelines.
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