8 Ways to Make Money on Facebook Live
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, we can go live at any time today. Regardless of the viewers, anyone with a Facebook account can record their live video anywhere and discuss a topic.
Besides the fun factor, the opportunity to earn potential income attracts people to live videos. When someone appears on television, they’re paid royalties or a lump sum by the broadcaster.
However, the earnings come slightly differently, with Facebook and other social media platforms offering a live video feature.
That’s why, in this article, we will show you eight ways you can make money online through Facebook Live.
Without any further ado, let’s get started.
8 Ways to Make Money on Facebook Live
In a nutshell, the methods are:
- In-Stream Ads
- Paid Partnership with Brands
- Attract More Followers/Viewers
- Engage with your Audience
Let’s look at each option and see how they work.
1) In-Stream Ads
Facebook 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 is now much broader. Those qualified enough would get notifications to go live and get paid from Facebook.
This is essentially the same offer that YouTube has been making to 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.
To join the Facebook In-Stream Ads program, you must be 18 or older and live in a country where in-stream ads are enabled.
2) Paid Partnership with Brands
You might be a social media influencer if you have a large enough audience. This could prompt companies and organizations to contact you for indirect advertising within your video.
Some ventures may even sponsor your videos if many people tune in to see you and what you offer. They could then get a shout-out at the live stream’s beginning, end, or middle.
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 decrease your fixed costs (for baking supplies, etc.) quite a bit.
3) Attract More Followers/Viewers
Whether you’re getting paychecks from Facebook or other parties, the bottom line is that you need followers. Several online services allow you to buy followers, but the most valuable audience is an organic one.
You may buy live viewers, followers, and likes to achieve fast success. But 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 will 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 encouraging them to share and like your reminders. Give another special reminder an hour before you go live and another five minutes before starting.
Don’t go overboard: There’s a chance of turning off your viewers if you are 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 an hour of excitement, that’s a 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 if you want to add 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 particular 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 influence and 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 video to let the stragglers catch up. It’s also good to recap halfway through and three-quarters into the broadcast. It’s also good to have a friendly, relaxed atmosphere.
Most people are on social media to take a break from their schedules. 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 severely damage your dreams of earning from Facebook Live. Hence, your content needs a unique point to attract consistent and high-quality viewers. It doesn’t matter if the content is funny; you may lose 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 a better chance of attracting more viewers.
Nevertheless, one should see when viewers start tapering off and wrapping things up before boredom sets in.
6) Affiliate Links
If you are a gaming streamer, you may use a powerful PC to play your games. Also, your viewers might be interested in the gaming PC specifications. You can sign up for the Amazon affiliate program, create affiliate links, and paste them inside the description.
You will earn a small commission when someone clicks on your affiliate link and purchases a product. 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 payment or donations via a super chat.
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. You can have more subscribers and revenue from Facebook and YouTube.
8) Facebook Stars
If you are a game developer or creator, Facebook recognizes your effort and helps you make money from the live stream.
You must join the Facebook Gaming Creator Program to stream your gaming videos on Facebook. Once you become a gaming creator, you can stream videos and build community pages around your love of games.
To help these emerging gaming creators, Facebook has its own Level Up program, opening up the opportunity to earn money.
Facebook fans can support their favorite gamers by sending virtual goods. Facebook has its own virtual currency called “stars.” Users can buy these Facebook stars and send them to their favorite game creators.
Gaming creators eligible to receive these stars should set up their payment accounts. You can do this by visiting your streamer dashboard. Here you can check the number of stars you have received.
However, note that 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 Can We Make Through Facebook Live?
Well, it depends on your viewers and the monetization method you use. For example, if you plan to make money through Facebook stars, you will earn money when someone donates stars.
On the other hand, if you plan to use affiliate links as the monetization method, you will get a commission when someone purchases an item through the affiliate link.
How to Increase Your Video Views?
You need to publish engaging content on your Facebook page to attract visitors. You can also pay Facebook to gain more video views, website clicks, and page links.
Make sure that your Facebook visitors are being converted into 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 organic views for maximum payment and can achieve it by publishing quality content.
How to Do Affiliate Marketing for Better Revenue?
You can join any affiliate program like ShareASale, Amazon’s affiliate program, Impact, or Commission Junction and get your unique affiliate URLs.
If you are streaming any games, you can get gaming console affiliate links and paste them into the video description or comments. Like it, you can also earn affiliate links to gaming monitors, keyboards, mouse, and GPUs.
So many freelancers are doing it.
How to Make Money with Facebook Stars?
To help content creators, Facebook launched a “Star Program.” One star is equivalent to $0.01. So when someone sends you stars, they will be added to your account.
So to earn $100 a month, you need to get 10,000 stars 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 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. So, you can view any live video you want. And, of course, you can help the content creator by sending stars or sharing the stream.
Are There Any Success Stories of People Making a Living from Facebook Live?
Facebook has logged several instances of creators using the platform’s professional mode to expand their communities, make money, and pursue their passions.
They have been able to control their creativity and elevate their Facebook presence thanks to professional mode.
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 a lot of work.
You can utilize Facebook In-Steam advertisements, affiliate marketing, paid partnership brands, look to promote other channels, use Facebook Stars, increase your followers, and engage with the current ones to start generating money on Facebook Live while maintaining the quality of your material.
It’s imperative to stay relevant and up-to-date today to stay in the game, so one must always remain alert and in the picture.
Check out our new post on How to make money on Facebook to know more about making money through Facebook.
Note: This is a guest post by Scarlett Erin. If you wish to contribute to BlogHeist, check out our guest blogging guidelines.
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Dev Patel says
Facebook Lives can be a great source to make money if you know the right trick and have proper guidance. Thanks for guiding and writing such a great blog.
BlogHeist says
Hey Dev!
Thanks for appreciating.
We are glad that you could benefit from our article.
Reach us at: https://blogheist.com/contact-us/ in need of any further information.
Kenny Blank says
Nice one. I am thinking about hosting watch parties and promoting my affiliate products.
Nirmal Kumar says
That’s so cool, Kenny 🙂 You can definitely use this method to promote affiliate products. Most probably you can add your link in the video or at the description or anywhere easily your audience could reach.
If you have a custom promo code for your affiliate product, probably it would be a lot easier for you to promote. As you don’t have to worry about the affiliate link.
giri says
Huh? Yeah, that was my reaction when I was told you can get paid good money to use Facebook. But I checked it out and I loved what I found.
If you know how to use Facebook then you can generate a serious income doing this, too.
Nirmal Kumar says
Hello Giri, Could you explain to us what kind of a program, is SocialSaleRep, which you were talking about?