Video content monetization can be very profitable…
If you do it right.
With the right techniques and a little bit of application, you can start monetizing your video content in no time.
Video Content Monetization 101: The Basics
Anyone who wants to make money online wants to know how to monetize content.
And video content can be one of the best ways to market yourself, build an audience, and earn money.
Here are the basic ways to monetize your video content:
Monetizing Video as a Product/Service
The most straightforward way to make money is by selling your videos. Unfortunately this can also be the most challenging, unless you already have an established reputation and an audience that is willing to buy from you.
But if you do meet those criteria, then this method can be the most profitable of all.
Since DVDs have gone the way of the dinosaur, you’ll want to sell on-demand video products. Content marketplaces, such as Amazon and Google Play, let you package and sell your videos for flat fees.
Vimeo has also added an on-demand payment service, which allows you to charge users to view your videos.
While once-and-done video products can earn you a hefty bit of cash, ongoing subscriptions can earn you even more. Think about online course libraries, such as Lynda.com and Udemy.
As we’ll discover below, acquiring ongoing customers for subscription products can be much more valuable to customers – and much more profitable for you.
Using Your Videos to Sell and Market
It can be hard to convince people to buy your videos if you don’t already have an audience that trusts you. The easiest way to get people’s attention is to offer them free video content…
But that doesn’t mean you can’t make money from content that’s free.
Instead of selling your content, use it to market and sell other products. Here are three of the best ways to do that:
Sell your own products and services. If you create videos that promote your other business services, then your videos are still making you money. Video marketing is an essential tool in every successful marketer’s toolbox.
Advertise other people’s products. You can sell other people’s products or services, through affiliate marketing or advertising. The key to making money through advertising and affiliate marketing is traffic, customers that trust you, and valuable content.
Video Content Monetization: Success Strategies
It’s competitive out there.
To stand out in the noise, you’ll need to be different, better, or both.
To successfully monetize anything – whether it’s a video channel, a blog, or an app – you’ll need to add real value to your viewers (your customers).
The best way to do this is by solving a problem…even if that problem is simply a need for entertainment. Entertainers, for instance, can build a following by catering to people who want their specific brand of entertainment. And specialists in a certain field can use video to provide useful information that helps their target audience solve a problem.
Acquiring Viewers (Customers)
The internet isn’t as young as it used to be, so it’s impossible to expect overnight results from a spammy website or cheap YouTube channel. People are more savvy, less gullible, and less likely to fall for gimmicks.
So in such a competitive environment, you need to do everything you can to pull people on board for the long haul. You’ll need to get them to trust you, become loyal, and follow you.
Once they become loyal customers, they’ll buy from you. Whether you’re selling affiliate products, your own products, or both, it’s critical to focus on acquiring a loyal following.
There’s a reason for this: acquiring and selling to a new customer takes much more effort than selling to an existing customer. Once people are following you, they’re more likely to watch your videos and buy whatever it is you’re promoting…like your newest video product.
Creating a Purchase Funnel
One of the most important content monetization concepts is the purchase funnel – also called a sales funnel or marketing funnel.
Every part of your online presence should be devoted to acquiring customers and enhancing your value in their eyes…in order to market and sell to them.
Video content that doesn’t sell doesn’t make money. That’s not to say you should create only sales videos.
But your videos should always drive people towards your offers.
Use your judgement and A/B split tests to strike the right balance between your content and your sales tactics.
If you shy away from calls-to-action and sales copy, your bottom line may suffer. So always be promoting your offers in your videos, video descriptions, and even your video titles.
And once people are on board your sales funnel, it’s time to upsell them. Provide related products and services or premium offers. The most loyal customers will be the most profitable. They’ll keep buying from you, tell their friends about you, and make your video content lucrative for a long time to come.
Whether you’re a big business or a freelancer on Facebook, you’ll be able to use video to monetize, market, and make money. Just remember to add value, acquire customers, and keep selling.