This is the fourth part of our series on the many ways creators can make money online.
In part 4 of our series on how to make money as a creator, we’ll explore four more pathways: collaborations, affiliate programs, licensing and white labeling and merchandise lines. Each of these provide interesting opportunities to help generate more revenue in your business. The key is to be strategic in selecting options that work best for the business and lifestyle you most want to have. If you haven’t already, check out part 1, part 2 and part 3 in this series so you have full perspective on all your options.
1. Collaborations
Collaborations between creators, refers to a joint effort between at least two creators to create a digital or physical product together. To do this well, creators need to build authentic relationships with peers, influential creators, and potential customers. This is crucial for expanding your network and creating opportunities for valuable collaborations. By fostering genuine connections, you can tap into each other’s audiences, cross-promote your work, and increase your reach. Keep in mind that it’s important to approach others in a way that you would want to be approached. Provide value, be kind, and focus on creating reciprocal relationships.
There are a few strategies to approaching creator collaborations including bundled offers and co-created offers. However, it’s important to note that there really are no strict rules around how to develop these offerings. If creators have strong relationships and solid, non-competing value to offer, collaborations can be structured in whatever way is most equitable to the parties involved.
2. Affiliate or Referral Programs
Affiliate referral income is a fantastic way to earn commissions by recommending other creators’ products or services to your audience. By joining affiliate programs and promoting products that align with your brand, you can earn a percentage of the sales generated through your referrals.
This is a win-win situation – you provide valuable recommendations to your audience while earning income. Make sure to always disclose your affiliate links transparently to build trust with your audience.
3. Licensing and White Labeling
Licensing and white labeling are two creator income approaches that are not often discussed.
Licensing simply means granting permission to another party for the right to use their creation under specific terms (licensing agreements). Think photos, fonts, artwork, design bundles and similar items. This model can work well with creators who are artists or photographers in particular. Licensing your work can open up new revenue streams and expand your audience.
White labeling is simply when one company buys a product from another person or company and rebrands it as their own. This is very common in the software world, but it’s emerging more as an option in creator businesses.
Whether it’s licensing your photos, fonts, or artwork, or white labeling content related to your subject matter expertise, there are opportunities to monetize your creations in different ways. Consider the various types of licensing agreements and think about how your expertise can benefit businesses in your niche.
4. Creating Merchandise and Product Lines
If you’re already successfully selling other creators’ products through affiliate programs, it might be time to consider creating your own merchandise and product lines. By leveraging your subject matter expertise and building a brand around it, you can offer any number of physical products to your audience. Hoodies and caps, mugs or water bottles, posters, jewelry, notebooks and so much more. One advantage to consider is that selling your own products allows you to keep a larger percentage of the revenue compared to affiliate relationships. It’s also a great way to increase brand affinity and provide unique offerings to your community. Curious about what it takes to launch a merch line? Check out this post to learn more.
The creator economy gives creator educators a massive variety of opportunities to build multiple revenue streams. The best part is that this variety allows creators to shape their business around the the work they are motivated to do and lifestyle they most want to have.
Be sure to check out the podcast on this series for an even deeper dive into the revenue options we’ve looked at here. Subscribe to our channel so you can be notified when part 5 in this series is released.
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If you’re looking to expand your revenue in 2024 we can help. We offer a wide range of packages for creator educators including coaching and done-for-you services as well. Book a call and let’s get you set up to scale successfully.
Stay looped in to Level Up
Watch Part 4 in full on the Level Up Creators Podcast on YouTube. And subscribe to get notified when new episodes are released.
