What is the best way to make money with Periscope?
Can I make money with Periscope? What is the best way to make money with Live Video?
I get these questions all the time. Katya, how did you make money and managed to quit your job? How did you monetise Periscope? How did you make money with Periscope when you had no products?
I’ve wondered if I should share this or not, because it’s something I have only kept in my inner circle. I guess I can always take this article down if I wanted to. So why not share?
Firstly, if you don’t know my story. It’s very short.
I went to law school. I became a banker after I graduated. I felt empty. I found Periscope. I created a community. I turned it into a membership club. Within 3 months, I quit my banking job.
And no, I didn’t make money by teaching others how to make money on Periscope.
If your very first income stream is helping others making money when you’ve never made money yourself, then you’re kind of a fraud. #JustSayin
Secondly, can you make money with Periscope and Live Video?
Can everyone make money with Periscope?
Well, can everyone be a Hollywood star?
So here’s the thing. You need to look in the mirror and ask yourself this question:
“Can I make money with live video?”
Be honest. And you know what the answer is?
“You can if you believe you can. You can’t if you believe you can’t”.
So how much do you believe in yourself, your skills, your charisma?
You may disagree with what I am about to say but I’ll say it anyway.
The people who were born to be on video (Periscope or not) will be on video and will make a living through it.
Can you get better with training? Of course!
Can you become the most talented person on video?
Well, can you become George Clooney?
Now, we got the basics out-of-the-way, let’s talk about the how. What is the best way to make money with Periscope and Live Video?
The best way to make money with Periscope is to be YOU!
Don’t worry, I won’t leave you hanging. I will explain what that means and how to apply it.
I promise you, this next part is very actionable.
What I mean by saying, that the best way to make money with Periscope is to be you, is that the best way is to become a Periscope Speaker of worth. Someone worth following and listening to.
What I mean by that, is that you have to focus on building a brand through Periscope as a persona that other people want to do business with and be associated with.
You are your biggest asset.
Unless you are the CEO of Coca-Cola, in which case we’re talking fizzy drinks.
You want to become someone people see every day.
You want to become someone people trust and follow.
You want to become someone people look forward to learning more about and meeting again.
Live video allows you to do that better than any other online platform or marketing strategy, because it is the closest thing next to meeting face to face.
Now, speaking face to face, networking with people will always be the best way of doing that. But I know you don’t have time to travel 200 days a year.
That’s not your definition of freedom. Right now. It may be one day. Or I don’t know, maybe it already is.
And no, this is not about the number of followers on your Periscope and Facebook account. This is more about the number of people who talk about you, advocate for you, and refer you business.
Quality over quantity, buddy!
So how do you make YOU the biggest asset and turn that into a Periscope money-making machine?
Here’s what you do:
Step 1 – Brand new to Periscope?
Watch and see how other broadcasters are using it.
Support their scopes. Allow others to notice you. Become part of the Periscope community.
Step 2 – Pick one thing you want to be known about.
If you want to make money with Periscope, this one is key. If you scope about too many things, which are unrelated or confusing, your audience will not know who you are. Yes, they will remember your name. Yes, they will know what you do. But they will not do business with you because they are not really sure how you can help them.
Now, if you are multi-passionate person who has many interests, feel free to weave these in your conversations. But stick to one main theme.
For example, I am a Livestream strategist but I also own a Snapchat Geofilters company as well. I rarely do broadcasts about Snapchat but I can weave the business in sometimes when I am giving example for marketing strategies. In other words, I can share marketing strategies that worked for me to grow my Snapchat Geofilters business.
See how it works?
How do the pros do it? Here are some examples to inspire you:
- Alex Khan (@1AlexKhan) is known for his Social Media and Periscope Tips. He is a Social Media Mentor and Strategist.
- Dr Walter Sims (@DrWalterSims) is known for his motivational PeriChurch scopes. He is a Motivational Speaker and Coach.
- YoPickles (@YoPickles) is known for her travel experiences and tattoos. She is a Social Media influencer and traveller.
- Kathryn Huber (@Kathryn_Huber12) is known for her “BA-BAM”s and infectious energy. She is a Health Coach and Sparkle Spitter Queen of America.
- I am known for my Livestream strategies, knowledge, Peri10k and the PeriDuck.
As the book Positioning: The Battle For Your Mind by Al Ries and Jack Trout says, positioning is more important than what you do. If you can position yourself as the FIRST in your area, or the BEST or DIFFERENT, you will not have competition.
My Peri10k Mastermind has no competition. It is the FIRST livestream paid membership club. It is the FIRST and ONLY livestream community with an application process. It is the FIRST and ONLY community that runs a DAILY livestream show on Periscope and Facebook Live.
It’s easy to differentiate Peri10k from everyone else because Peri10k is unique. So I have no trouble marketing Peri10k or getting interest in Peri10k. The positioning does that for me.
See how that works?
Be different. Position yourself different.
Step 3 – Show up every day!
Seriously, with information overload, viewers now have a choice of what to watch and what to read. Unless they see your face on a regular basis, they will forget about you.
Why do you think Coca Cola keeps creating million-dollar TV adverts? Do they need brand awareness? Everybody knows Coca Cola. But Coca Cola wants to make sure you think about Coca Cola every day. Treat your Periscopes the same. Make people think about you every day.
So you need to broadcast at least a few times a week (ideally, every single day) about the one thing you want to be known about. You need to make people remember you for that thing.
You want people to start talking about you and your one thing. Remember, it has to be unique.
If you are just another life coach who helps people ‘fulfil dreams’ and ‘be happy’, then good luck with standing out.
What makes you unique as a life coach? Do you tackle overwhelm? Are you an NLP master?
What’s so unique about you, so that people would want to advocate for you?
Okay.. now down to the money business…
Here are the best ways to make money with Periscope by being you.
1. Become a Brand Ambassador.
Now, this one would require a bit of hustle. It’s not a strategy I use but it is a strategy that works for some of my Peri10k members and clients.
This one can only be done once you have a loyal big audience. If you have less than 1,000 followers, brands are unlikely to take you seriously.
But what you do, is you create a sponsorship deal with a brand you love, and you weave in their products and services during your scopes. There are so many ways of working with brands, and each brand would have different requirements and ideas.
Now, please, do not ever do a full scope selling brands’ products. You will repel your audience (unless you have millions of followers and you don’t really care).
By becoming their ambassador, you become part of what people call the “Influencer Marketing” pot. And each one of you can be an influencer.
If you play your cards right.
2. Grow your email list or Facebook Group through Periscope. Sell your programmes/products later.
This is what I do and what a lot of my clients do.
Do a broadcast relevant to your target client. Teach them something of value. Give them some important news to them. At the end of the broadcast, give them a call to action which does not need exchange of money.
Give them a call to action to sign up to your freebie.
I have a few different calls to action which I vary.
Sometimes, I direct people to my Periscope Guide
Sometimes, I direct people to my Livestream Ninjas Mastermind.
Sometimes, I direct people directly to the Peri10k Sales page, if relevant.
Once these people become part of your Sales Funnel, you can then build a relationship with them and eventually they become a long-term value client for you.
Remember, don’t be an ass.
People buy from people they like.
You do need to be likeable (not to everybody but to your target client).
You do need to give value (nobody will just hand you money for nothing).
You do need to be patient and resilient.
3. Show Behind the Scenes of your business.
This one is easy because people get to see exactly what you do.
You don’t need to sell them your product/service.
All you need to do is show them what you do.
If they like what you do and need what you do (and if they like you), they will buy from you.
I like to show behind the scenes of creating Snapchat Geofilters and that makes people send inquiries about purchasing one.
Want to make money with Periscope while you sleep? Try this.
Final words about making money with Periscope
I want to cover this because it’s really important. Periscope is no different from any other social media. Pushy sales via live streaming will not work. Shoving your products down viewers’ throats will not work.
Similarly, if you think that Periscope is a get rich quick tool, you are wrong. I don’t believe in get rich quick. I believe in working your bottom off doing something you love so much that you would do it for free. Yes, you can make money with Periscope, but it’s not as easy as piece of cake.
Periscope is about building an audience and a community with a common purpose. It’s about sharing your truth unapologetically and consistently. Periscope is about inspiring your viewers to take positive action. Your job is to make your audience feel empowered and intrigued. Empowered to follow their dreams and make a huge leap, intrigued to want to learn more about you as a person.
One of the things people ask me often is ‘’What handle should I choose? My name or my business?” and the answer is always “Unless you are Coca Cola, you should always use your name.”. Even the big brands on Periscope such as the Weather Channel and Experian have people leading their Periscope account.
Viewers tune in to hear what PEOPLE have to say. They don’t tune it to hear about the latest products and services. And the only reason big brands use their brand account, is because their Twitter audience is already huge and it’s natural to leverage that on Periscope.
If you are not ready to embrace the non-salesy sharing of truth, you should drop Periscope right now. You won’t make money with Periscope that way. The platform is still very new. Your job should be to grow a loyal following that knows you, likes you and trusts you.
Those are the people who will buy from you again and again. Most people give up when they reach 100 followers. It takes time. It can be very discouraging to
scope every day, have 10 viewers show up and grow by 1 follower a day. It happens. It’s okay. You probably won’t make money with Periscope immediately.
Get over it. Periscope is the one platform that helps you grow the fastest. But that doesn’t happen in the first two weeks. I made my first penny 60 days in Periscope, after scoping every single day.
Most people give up after 7 days on the platform and they feel like the community should be given to them on a plate. No! No! No!
If I gave up, I wouldn’t have been here talking to you.
Periscope is about patience as much as any other platform. Periscope is about understanding the universal truth: If you want to make a million dollars, you need to impact a million people. So if you think Periscope is the platform to help you get rich quick, drop this website now and don’t ever come back to it. It will be a waste of your time.
But if you do believe in community, and if you are patient, ambitious, open-minded, entertaining, generous and fun, then stick around. If you play your cards right, the World will be your Oyster. Let me be your Oyster fairy sprayer!