Streaming is both fun and a great way to make friends. But streaming can also be a lucrative business. Do you know the best ways to make money streaming?
Of course, subscribers and donations are an important source of income. But there’s another consistent income generator which many newer streamers overlook. It’s the power of sponsorship, which occurs when you’re an influence marketer.
Let’s take a look at how streaming and influence marketing work together to help you earn:
What is Influence Marketing?
If a trusted friend recommended a specific product, would you consider a purchase? What if you knew for sure your friend was an expert in those types of products? This is the simplest type of influencer marketing.
Online influence marketing works in basically the same way. Only instead of a real-life friend, the influencer is someone online. Anyone online has the potential to be an influencer, even a beginning streamer.
How Do Influence Marketers Benefit Brands?
People trust their friends the most. But people also put a fair amount of trust into someone they follow on social media. Watching and interacting with someone on social media as they live their life, play games, post photos, etc. creates a personal connection.
So, while the audience doesn’t feel like the social media influencer is a personal friend, there is an authenticity regarding product and brand recommendations.
What Role Does Social Media Marketing Play in Influence Marketing?
If you want to attract the attention of brands and sponsorships, your stream will need an active social media presence and personal brand.
Announce your streams on Twitter. Encourage followers to join your Discord channel. Post short video clips on your YouTube and Facebook pages.
Brands will feel more comfortable working with you when they have a clear, objective idea of how many people you can reach. Social media likes, shares, follows and other engagements show you have social media influence.
What are the Benefits of Being an Influencer Marketer?
Benefits vary from small to large. A brand might simply want to give you a free game or a product like a pair of headphones. You’ll be asked to mention the product or play the game on your stream.
Brands might also pay you to display their logo on your stream for a certain period of time. Other brands can offer direct sponsorship where you use or wear their products on camera. You can even get paid to endorse a product directly in an ad.
Games are a common freebie in the world of streaming.
Some publishers skip traditional advertising altogether, instead giving away free copies to many influential streamers in order to build buzz. Two recent examples are Prey and PUBG, which used this strategy to become one of the most popular games in the world.
Even if you’re not getting direct financial compensation, streaming a game before it’s released to the public can really draw an audience. This can have a snowball effect. As your audience grows, your stream will be more attractive to paid advertisers.
What Types of Streamers Appeal to a Brand?
A large following is great for a brand which sells a product meant for a wide general audience. For instance, Old Spice is an official sponsor of Dr. DisRespect. Old Spice deodorants and colognes appeal to a wide variety of guys. Reaching the Doc’s large audience – which includes a lot of guys – makes sense for the brand.
Don’t think just because your stream has a small audience brands won’t be interested in you. The truth is you don’t need a huge following to interest a brand. Instead, brands look for the right audience.
Many products have a niche audience. These might be products unrelated to your stream directly. Instead, the target audience for the product overlaps with your viewers, which helps increase brand exposure.
Social media gives you a lot of information about who is interested in your stream. When someone follows your stream or any of your social media pages, you can check out their profile. This helps you learn what other streamers, products and brands they’re also interested in.
Learning about your audience is an important part of your stream’s success. First, you can tailor your stream towards the interests of your viewers. Plus, you can also present brands with a clear picture of the audience they’ll reach if they partner with you.
Final Thoughts
The key to developing marketing influence as a streamer is to stay active on your social media accounts. Don’t confine yourself to Twitch. Post stream-related content to your social media pages regularly to help grow your audience.
Streaming can be a great hobby, but influence marketing can help turn it into a full-time job. A streamer who has a trusted connection to a well-defined audience, even a small audience, can be very attractive to brands.
