Finding new revenue streams can turn your part-time hobby into a full-time job. To maximize generating money as a content creator, you must diversify your revenue streams and most importantly… make valuable content.
If you’ve ever watched a YouTube video with your Adblocker software off, you’ve seen this in action. But it’s not just limited to YouTube Partner Program. You can use Google AdSense to generate income on your website. It’s straightforward to use and a very passive way to make money.
Patreon and YouTube let your fans support your channel through monthly subscriptions. You can incentivize paid subscriptions by offering exclusive content. Small and medium-sized content creators will find this method less effective. However, it’s worth minimal effort to get started.
Online Courses and Consulting
Content creators with skills and knowledge can make a serious side hustle or career through online courses. Not only is this one of the fastest-growing income streams, but it is an effective way for even small content creators to make money. Building online courses can be rewarding (financially), but it will take a lot of time to build a course, shoot the course, edit the videos, and support your students’ learning requirements.
Alternatively, Yodl is an all-in-one booking, 1:1 video chat, and payment platform for creators to sell their skills or knowledge to their followers and subscribers. Creators on Yodl have complete autonomy with when and who they talk to. There’s no course building and management. It’s just a 1:1 video chat session for 30 to 90 minutes. It’s completely free to join and stay on Yodl.
Sponsorships are one of the best ways to increase income and make better content. It’s more than just reviewing a product or a service; you’re becoming an unofficial brand ambassador. An easy way to get started is by joining Influencer Marketing platforms, such as Upfluence.
You can earn a commission for sales that originate from your videos or posts. Each time a subscriber or follower uses your affiliate code or link, you’ll get either a percentage of the sale or a fixed fee for the sale. Before you sell a product, you should at least test it out. Nothing will kill your credibility more (and turn your subscribers off) than trying to sell a terrible product you don’t believe in.
(Bonus) Collaboration with other Creators
You might not be able to make money from collaborations directly, but there’s no doubt that it will help expose you to new subscribers and followers. Besides creating better content, collaborations provide social validation of your content by your peers. Many YouTubers and Instagramers welcome collaborations and often leave their emails in videos/posts.