Learning to monetize videos is one of the most essential parts of growing a successful videography business. Both large-scale and small-scale businesses can benefit from the monetization of their videos. But the real challenge lies in deciding what strategies to create and how to implement them.
Even though there is an incredible wealth of video content that’s available free of cost, people are still willing to pay for premium content that is unique, exclusive, and delivers value. In fact, it’s never been easier to monetize video content than it is today. In this blog post, we talk about seven different things you can do as a videography business to monetize videos and generate a steady stream of money from your content.
Video Monetization Strategy #1: Generate Ad Revenue
The first place that comes to one’s mind when thinking of video monetization is YouTube. That’s because this powerhouse has taken the world by storm over the last couple of years. YouTube gets 30 million visitors every day, which is no mean feat!
Generating ad revenue is very easy on this platform too. You just select the “monetization” process when setting up the video and you’re all set! The real key is to create videos that actually get views.
YouTube isn’t the only place that pays video creators for ads, but it’s the most popular. Feel free to scour the internet for more options.
Video Monetization Strategy #2: Affiliate Marketing
Affiliate marketing is another tried-and-tested method for monetizing videos. It’s one of the highest-ranked marketing methods for generating revenue. It is easy to get started – you just need to find products and services that have affiliate programs.
Of course, for success in this area, it is important to find products that are in line with your brand, industry, or the content of your videos. In short, you have to thoroughly research the affiliate before promoting them. Always make your audience the number one priority. Only promote a product or service that benefits them.
Video Monetization Strategy #3: Sponsored Videos
Sponsored videos can be highly profitable for a videography business. These are best suited for creators that have already established a large viewership. In sponsored videos, a company will partner with you and pay you to feature their product or service in your video.
Your job is to make sure that the sponsor aligns with your brand and its values. You’ll also include a unique link that is used to track the sponsorship. That way, the sponsor can get real-time statistics for their investment.
All you have to do is give the sponsor a small segment at the beginning of your video. Most video creators add text throughout their videos that reads “sponsored by.”
Video Monetization Strategy #4: Paid Membership Site
Another great way to monetize videos is to build a membership website where you can post valuable material. If you decide to go this route, make sure that the site is continuously uploaded with highly useful content for your community. You cannot just throw a bunch of fluff together and hope people will pay for it.
Membership sites have a ton of benefits for both sides. Video creators can use it to monetize videos and subscribers will get the benefit of high-quality content in one single, convenient location. But that content must be valuable to them.
Video Monetization Strategy #5: Paid Online Courses
This is similar to a membership website in the sense that individuals will pay to access a special section of your website. However, in this case, videos must be set up like a course and provide a step-by-step approach to imparting knowledge in a specific domain.
An online course requires more planning and editing, but the end result is highly valuable for everyone involved.
Video Monetization Strategy #6: Product Review Videos
Find products or services from other companies that are related to your brand and then show your audience how they can benefit from those products. This can be quite tricky because every product you review might not be positive.
You must be honest with your audience. Trust is more valuable than clicks – and the more genuine your reviews are, the more your audience will stick with you.
There are three main things you can do in a product review:
- Showcase the unboxing of a product. People love watching their favorite reviewers open boxes and discover their sentiments of the first look and feel.
- Provide a product demonstration. This is where you can review the product or service while showing it in action.
- End the video by telling your audience where to get the product. If you have signed up for an affiliate marketing program, it is always a great idea to link back to the affiliate network or marketplace.
Video Monetization Strategy #7: Sell Stock Footage
Look to sites like Shutterstock if you want to see some great examples of stock footage. With stock footage, you will be selling the rights to use your video clip to anyone willing to pay for it.
This is a great option if you need to monetize videos and clips you are not using. While there isn’t as much long-term value, this is a great way to keep from wasting footage you might not otherwise ever use.
Delivering Valuable Content is Key to Successful Video Monetization
The single, most important thing to remember when embarking on a video monetization strategy is that people pay for valuable content. Your monetization strategy should follow the interests of your audience and align with their problem areas and aspirations. Let your audience guide your monetization strategy.
All the above video monetization strategies work as long as your audience gains value.
Finally, once your videos have been filmed, they must be edited professionally. Professional video editing is the foundation for a successful video monetization plan.
For more information on how you can edit and create stellar videos, contact Video Caddy, a leading video editing service provider.