How Do Creators Monetize?

The creator economy has gone mainstream and there’s more openness to full-time content creation as a profession. With most young people aspiring to one day be a professional creator and millions of part time influencers across the world involved in the creator economy, professional content creation has become a sought after career and a source of liveable income. 

But how do creators monetize their content and create a sustainable living? Here are three popular monetization methods to consider and pros and cons to consider for each.

While ad revenue through a platform’s native advertising partnerships is very common (such as AdSense on YouTube), this can also be an unstable form of income that largely fluctuates. While ad revenue is a great way to get started monetizing your content, it’s important to also find other revenue sources that are less variable. Here are some best practices for ad revenue as a monetization option:

• Carefully review platform guidelines. Every platform has its own policies and these can change, so make sure you have up to date information on your monetization status and requirements. Try checking in every month to see if there are any adjustments to policies affecting payouts, watch time and engagement thresholds, etc.
• Know your averages. With a variable source of income like ad revenue, try getting your average monthly amount once you’ve gathered some data. This can help you make more informed financial decisions.
• Diversify your income. Once you get ad revenue through one platform, try gradually adding in another that has built-in monetization options. This way your ad income is not beholden to only one platform.

While merch is often one of the first offerings creators try after getting their content monetized, it’s not a fit for every creator. Many influencers who have other professional skill sets or passions use their expertise to offer services. With more and more businesses remote, this is an accessible option to work one on one or with businesses online. 

Here are some ways to build out service offerings as a creator:

• What’s your expertise? What did you go to undergrad for? If you don’t have a degree, what work experience do you have? Try adding in some content that shows how skilled you are at your craft behind the scenes, and use audience reception and suggestions to determine if this is a skill you can charge for.
• Build a portfolio. Even if you don’t have a large body of professional work yet, you can still add in projects without doing free work. Connect with potential clients and offer a discounted rate or smaller package for a limited amount of time. You don’t want to spend months and months on portfolio pieces since this is meant to show your expertise; get a variety of short-term projects you can use to show off your skill and then move on to your regular rates.

Brand deals work best when they are well aligned between creator, audience and the company. Consumers are smart and they can tell when a partnership doesn’t seem genuine. Reach out to companies you already love or shout out projects you already enjoy. 

Not sure where to start? Here’s how you can get brand deals that are a fit for your content:

• Get input on pricing. Whether you partner with a consultant or manager or just another group of content creators, get to know going rates. Everyone's is different and can be based on years of experience, cost of living in your area and everything in between. Linking up with other professionals in the creator economy will give you more insights so you can set your rates with confidence.
• Create a media kit. UGC (user generated content) from past campaigns, engagement rates, pricing, contact information and the unique value you offer can all be included in your media kit. This is another great opportunity to connect with other creators and hear what they use in their own media kits to successfully pitch brand
• Build out your spreadsheet. Use LinkedIn and company pages to get information on staff for the brand you’d like to work with. Head straight to anyone working in influencer partnerships, and use an email finder like Apollo, Snov, GetProspect or Hunter to get in touch if their contact information isn’t public.

Ready to monetize your content? Already using these methods? Put these tips into effect and you’ll build more sustainability in your creator business in no time.