Vimeo monetization has evolved a lot over the past several years.
Whether you’re a hardcore marketer or whether you simply want to monetize your video content, Vimeo has a few options to choose from.
The Vimeo Tip Jar
Introduced in 2012, the Tip Jar offers a way for content creators to monetize videos directly from viewers. A button underneath the video labelled “Tip this Video” allows you to donate money directly to the creator of a video.
Donations are a somewhat common monetization strategy. You can ask for donations to fund apps, businesses, and so on. Though non-profits and startups can use donations and crowdfunding effectively, tips aren’t always the most effective monetization strategy.
As with most other marketing strategies, you’ll need to be aggressive if you want to earn money through tips:
- Explicitly ask users to leave tips. Include calls-to-action in the video description, in the video itself, and even in the headline (video title).
- As with any business model, you’ll need to develop an audience. Your audience is your customer base. And the more they like your videos and the more they value your content, the more likely they are to leave tips.
To use the Tip Jar, you’ll need to be a Vimeo Plus or Vimeo Pro member.
Vimeo On Demand
Vimeo On Demand is exclusively for Vimeo Pro Members. This allows you to create a hard paywall for your video content. That is, people will need to pay in order to view your videos. You’ll keep 90% of the revenue after transaction costs.
You can embed and sell videos through your own website and through Vimeo’s platform.
This strategy can be very effective, particularly if you have a strong following and high-value content. Here are a few tips for using this method:
- Create a series of free videos that act either as teasers or introductory material. This will help you grow your audience. And it will give people a taste of what you’re offering and showcase the value of your premium videos.
- Market both inside and outside of Vimeo. While Vimeo has its own targeted audience, there’s a big world out there. The more people you can draw in through social media, websites, and other marketing channels, the more money you can make.
- Continually experiment with your pricing and marketing. You can set your prices as low as $.99. When you use marketing tactics that imply scarcity – such as limited time offers – then people will be more likely to buy in. You’ll get a smaller profit margin, but more customers. Read more about marketing psychology and keep experimenting.
Becoming an Affiliate for Vimeo
Another way to earn money from Vimeo doesn’t have to involve making videos at all.
Like with any other affiliate program, you can earn a commission. Each time someone clicks an affiliate link placed on your site, in social media, in email, and so on, you’ll be able to earn a commission. Vimeo pays out commissions whenever someone signs up for a Vimeo membership.
Here are some basic tips for actually getting clicks, sales, and commissions:
- You need to have a pre-existing brand, replete with content and users. The early days of affiliate marketing are over: today you need customers that trust you and your recommendations.
- Sell people on the value of Vimeo services. This is easier to do if you have people that trust you. And it’s easier if you’ve got content that relates to Vimeo somehow. If you write a blog post on video monetization, for instance, it will be much easier to sell Vimeo to your customers than if you simply tack an ad on the side of your blog.
- It will be easier to sell Vimeo’s services if you have your own account and actually use Vimeo. So if you have an upgraded membership, then you can promote these services and make the sale based on your own first-hand experience.
YouTube is well-known as a hub for self-made stars. But Vimeo’s doing everything it can to compete with YouTube, including poaching a few YouTube stars.
Since Vimeo doesn’t run ads, online celebrities will need to find another way to monetize their Vimeo videos. Here are a few:
- Use the above-mentioned Vimeo On Demand service to charge. The right number of subscribers and the right price point can shoot your revenue through the roof.
- Consider product placement or other in-video sponsorship opportunities. While Vimeo doesn’t run ads of its own, there’s nothing to stop you from signing up with third parties to develop your own in-video sponsorships.
- Use a third-party service like Patreon. This service allows artists, creatives, and other content creators to earn money each time they release a new piece of content. You’ll need a following who is willing to contribute to your success. Simply sign up on Patreon, build a following, and drive them to your Patreon page. Each time you release a new video, you’ll earn money.
Vimeo monetization is slightly different than YouTube monetization. But with the right strategy and the right content, it has lots of potential.