The demand for online content has grown rapidly as creating digital content has developed into a career for many.
Create digital content as an influencer, online educator, or content creator and open up a new revenue stream for yourself.
Once you have built your audience, your next challenge is to find ways to monetize it.
But the real point is how do creators earn revenue in this rapidly changing and competitive environment?
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Being surrounded by tons of monetization options is overwhelming as creators. There are just way too many ways to choose from.
It is sensible to carefully evaluate and consider all the methods below since there exists more than one option to make the right call based on your product and audience base knowledge.
In this blog, we’ll dive into the top 5 ways to make money as a creator
This blog will help you weed through the noise. I’ll walk you through the top five monetization options for new-age creators like you.
Related: Why you must start selling online courses now
Table of Contents
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.
Related Blog: Great Business Ideas for Women Entrepreneurs: Inspiring Ventures
Pros
Ease of set up
Passive income
Cons
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: Why every blogger should launch an online course
Google Adsense
Google AdSense is one of the simplest & most effective monetization methods that allows you to monetize your website or app traffic with display ads.
The platform puts paid ads on your site to your targeted audience, and it pays as per impressions and clicks.
Impressions are basically every thousand-page view on your website.
Clicks basically mean every time that someone clicks on your site.
But even though it’s easy to sign up for a free account, today with 42.7% of internet users worldwide using an ad blocker, those pay-per-click (PPC) payouts are a lot more difficult to earn.
It may thus hamper the ease to generate a positive return on your investment.
Related Blog: How to make Money Online in 2023: Work from Home
Pros
Creating a Google Ads campaign can be swift
Marketing campaign aspects like the number of clicks and impressions, click-through rate, conversion rate, cost per click, and cost per acquisition are easily measurable
Cons
Ad blockers make earnings from Ads even harder
Adverts have limitations and you are restricted by the number of characters you’re allowed to use for your ads.
Related: How to build your online education empire
Affiliate Marketing
Affiliate marketing is a popular tactic to drive sales and earn significant online revenue. When someone pays you a commission for sales or leads generated from your efforts it can be called affiliate marketing.
An affiliate has the power to inspire and influence their audience’s buying behavior. With affiliate links, you can help businesses generate revenue through sales for which you even get a share. It can be bittersweet.
You can become more successful as an affiliate marketer if your followers trust you as sometimes it may also turn out that nobody is really interested in buying the product you are promoting with the affiliate link.
On the shiny side though, whenever someone clicks on your affiliate link and buys the product, you will receive a commission, and the great part is that it’s for an indefinite period of time (months, if not years).
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Pros
Can help generate passive income
Low-cost business idea
Cons
Can not get income if you don’t generate any income
You don’t control your competition
Related: Record Videos For Online Course at home
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
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Pros
High return (Lots of $$$)
Free products and gifts
Cons
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
Related: 7 killer ways to validate your course idea NOW
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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.
Related: Create your online course: Step by step guide.
Pros
Pay a small % only when you earn
Monetize your existing audience immediately
Analyze data
Cons
Initial Course Awareness Activities
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Final Thoughts
Take advantage of every possible opportunity you get and work towards building
up a strong online presence as a creator.
There’s no better time than now to start monetizing your content. It can be your side hustle or a full-time gig to generate revenue.
But what works out for you, may not necessarily work out for someone else. Any plan that you set up should be flexible in nature.
If one strategy is not working for you, try out something else. It is very crucial to prioritize your monetization right since a correct monetization method will allow you to prioritize revenue targets.
Today, with variety in each creator’s brand and audience base, the type of monetization method you opt for your business is very crucial as your business’s goals will keep changing continuously over time, and thus the strategies and methods to attain the goals need to evolve as well.
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In order to make money online as a creator, start now!
No matter how small your audience may be, you can quickly monetize it by launching your first paid session. Give it a try today!
Related: Earn six figures by launching your first online course
How to build your online education empire.
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