The Key to Monetizing Your Content

Are you a newbie content creator? Been building your creator business for years? Whether you’re just starting out or somewhere in between, you’ve got loads of options to monetize your content. Social media platforms get more sophisticated every year, and we’re here to help you navigate monetizing your content.

Ready to get started? Let’s take a look at models, platforms and strategies that will level-up your income and build out more revenue streams. 

There is no one way to monetize your content– what’s most important is what resonates with you and your audience. You’ve likely heard of built in monetization on heavy-hitters like YouTube, but what about other methods?

Here are some methods of monetization and how to make them work for you:

• Native monetization. OG platforms like YouTube have built in monetization through ad revenue. YouTube Adsense is arguably one of the most widely used options for both creators and advertisers, making its native monetization a great option. While your content will continue to drive ad revenue for as long as audiences engage, it can also be variable. It’s great to mix this in with something you have more control over; like providing services or brand deals.
• Creator funds. Some newer platforms, like TikTok, offer a set creator fund to award monies to high-performing creators. While these allocated funds are great, they also have a drawback; your access is limited, while ad revenue offers a continuous stream of income as long as your content accumulates views. It’s worth looking into creator funds and grants for a one-time influx of cash, but not a continuous income stream.
• Creator incentives. Platforms like Instagram are known to offer rewards to creators who utilize their new releases. While you might be able to get a boost from these incentives (such as Reels bonuses on Instagram), they’re best used as a supplement to your other streams of income as these can be limited to short-term gain.
• Brand deals. Not tied to any platform, brand deals are between you and a company that aligns with your content. If you prepare a stellar media kit and pitch specific staff directly, you could wind up with some great deals. This is a project-based option and can be planned seasonally or based on campaigns.
• Services and digital products. This income stream works really well if you have an element of education in your content or a passion or hobby you can teach others. This option gives you more control over your pricing and cash flow. You can try pairing this monetization model with more project-based brand deals to cover any slow seasons in your creator business.

So, you’ve got a ton of options to monetize your content… now what? Never fear, here are some strategies and best practices you can implement to make your monetization streams effective and efficient.

• Diversify. Don’t just diversify which platforms you’re on– mix up your income streams. Try pairing project-based gigs like seasonal brand deals in with a constant stream of monthly income from your ad revenue.
• Know your numbers. Set not only your expenses in your budget, but a “fun fund”. When you set this in your budget, you can multiply it by three months, six months or twelve months to determine your emergency savings. This “fun fund” will help you stay motivated in lean months as you experiment with new income streams, as you’ve already budgeting for some stress-free activities.
• Be proactive. This doesn’t just apply to pitching brands, but applies to every aspect of your creator business. Be sure to plan every quarter and track your income and engagement to make pivots. Don’t feel the pressure to make a change every week! Social media moves very fast, and you’ll be able to make better decisions in your creator business with more time to identify patterns.

There are more possibilities than ever before in the creator economy, and how you choose to monetize is up to you. Dive straight in and experiment, adjust, and move forward. With these tips, you’re well on your way to a sustainable income as a creator.