Using Ustream To Make Money

I have been a user of Ustream for some time in order to put together a live broadcast online. Have you ever thought about doing it yourself? Did you know that you can use it to make some money? Here’s how.

My Story

I have been using Ustream for awhile now, primarily for the PCMech LIVE show which airs every Wednesday night. These days, Rich does all the shows. However, it used to be where both of us did it as a co-host situation.

One show, however, I decided to try something. I created a discount on the PCMech Premium membership using a coupon code. I then made it such that the coupon code was placed into the live feed so that it showed up right above our heads. I did this with CamTwist (for the Mac), although you could do the same with WebcamMax if you are under Windows.

I sent out an email to the mailing list before the show. I told them that we would be holding a special on the show, but that they could only take advantage of the offer DURING the show. This built up buzz and it brought in additional viewers for the program.

Long story short, I ended up bringing in about $800 in membership revenue in about 2 hours.

So, why did this work?

There are three primary reasons why this worked:

1. The audience could interact with us LIVE. We could answer their questions. Plus, they could get a chance to get to know me personally. When your audience knows you, they’re a lot more comfortable giving you their money.
2. I introduced scarcity. By saying that the coupon code would only work DURING the live show, people felt compelled to take the offer because it was a great opportunity and they didn’t want to lose out.
3. I introduced some crazy social proof. Being that I get email notifications when an order is placed, I would announce a new order and THANK the person LIVE on the air. It was acknowledgment which made the new customer felt as though they belonged. Plus, everybody else could then see that people were taking advantage of the deal in real time.

More Thoughts on When and How

You could use this tactic whenever you feel like it. I have also seen people utilize Ustream during a product launch, actually going so far as to embed the live stream right onto their sales page. Very creative!

It is important, though, that you actually BE HELPFUL. Answer questions and don’t make it nothing but a sales presentation. During our live show, we were answering people’s computer questions the entire time.

So, give it a try, my friends. If you don’t have a Ustream account, I suggest you get one. All you need is a basic webcam and you’re in business.

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