Video monetization allows creators to get paid for their effort when they publish videos online. Creators choose from different monetization methods and get paid accordingly.
The most common form of earning money from your videos is by running ads and subscriptions. Your viewers watch the ads that play during a video; they can also pay the subscription fee that occurs weekly or monthly as per the video monetization platform you choose.
Video streaming has grown rapidly in recent years and will only flourish more. With that being said, there are 3.1 billion viewers who prefer streaming videos over traditional ways of receiving information.
So as a creator, this is your time to make yourself a streaming channel and start uploading your creations. To help you with the same, we will discuss creating a video monetization strategy plus different monetization models.
You can take guidance from these steps and create yourself an up and running streaming channel.
Video Monetization Strategies – 6 Best Practices To Follow
Video monetization helps you earn money every time your viewers stream the content. However, before you choose a random platform and make uploads, it is wise to prepare a strategy so you can sell videos more effectively.
Let’s follow the needed steps below:
1. Uncover Who Your Regular Viewers Would Be
Knowing your audience lets you know for whom you are creating the videos. Also, until you do not know the people who will be watching your videos, it will feel challenging to set the tone of the content.
There are a few questions to ask yourself so you get to know your audience:
- What kind of content do I want to create?
- Who will benefit from this content?
- Do I have a large fanbase to run via subscriptions?
- Would my audience be interested in running ads or ad-free streaming?
Asking such questions will give you an idea of your potential subscribers and guide you to
take the right steps toward monetizing videos.
2. Have A Platform That Lets You Create And Earn
Creators who are sure about their niche and know the possible audience may next choose the video hosting platform. The platform would be the place to upload your videos, manage the analytics, and choose the monetization options.
You should take time and choose wisely instead of rushing things. For instance, you should try out a few platforms before you finalize your choice.
Consider your budget and all the necessary features you want while choosing a streaming platform.
If you are looking for a video streaming platform that covers a worldwide audience, you can try GUDSHO. It is a premium streaming platform where creators earn money through subscriptions, rentals, and donations.
This will be a good choice if you want to create premium content in niches like education, health, and entertainment. Also, those who create short films and want to advertise these films can opt for GUDSHO and gain the needed exposure.
3. Get Familiar With Different Monetization Options
There are various monetization options that video creators may choose from. There are many streaming platforms, and different ones provide different monetization methods.
You need to choose the one that offers the revenue methods you want. This is the most important step in your overall video monetization strategy; take your time and finalize the revenue method.
- Explore a few platforms and understand their packages and the services offered. You may choose free platforms or platforms that offer a 30 days trial.
- You can also go with freemium platforms where you get limited resources for free and need to pay to unlock advanced features.
- You can look for premium platforms that offer different packages and choose the one with the necessary features.
4. Keep Your Content Enlightening
This is a no-brainer; creators should always pay attention to the quality of their content instead of quantity. It is OK to upload one video every two weeks; however, that video should be knowledge-oriented and justify its purpose.
Not creating quality content is the fastest way to wither your audience away and make them look for alternatives!
Also, set a unique selling point which includes providing the kind of content in your niche that no one else provides.
5. Finally, Launch It And Let Your Audience Know
When you have finalized the streaming platform and have content prepared, it is time to make your first upload. Do not aim for perfection initially; you will get better with time.
Also, do market your channel along with uploading your content. This will help your audience know about your channel, and they will be able to connect.
Have a solid marketing plan or hire a digital marketing firm or a single professional who can handle the advertising of your channel.
6. Analyze Its Performance And Tweak With Needed Marketing Tactics
While creating videos and marketing your channel, tracking results is equally important. Most streaming platforms provide analytics dashboards to let creators track how their content performs.
You can track your visitors, know your bounce rate, the location of your visitors, the device and browser they use to reach your channel, the medium they use to find your videos, and other such information.
This helps you tweak your marketing strategy here and there, and you optimize better. Hence, keep analyzing results and implementing new tactics to see where it takes the reach of your channel.
Video Monetization Models To Generate Revenue
Let’s discuss the different ways of earning or monetizing your videos. This will help you be sure about the monetization options you should choose.
Pay-per-view is also known as TVOD or transactional video on demand. Creators who want to run exclusive content and wish the viewers to pay separately for it may choose this revenue model.
When creators receive the first-run rights to exclusive content, they get access to bring the content to stream before any other platform. Hence broadcasters can charge a separate fee to let their viewers stream such content.
Some widespread examples of exclusive content are live sports matches, concerts, or special events where the PPV revenue model can be applied.
The subscription-based revenue model, or SVOD, needs the viewers to pay a subscription fee. Viewers can pay subscriptions monthly or yearly, depending on their budget. In return, they stream your premium content until the subscription period ends.
Many streaming platforms like Netflix, Hulu, and ESPN+ use a subscription-based revenue model. Here broadcasters do not have to upload regular content; instead, they earn every time a viewer subscribes, which means that creators make money from recurring payments.
This is also an attractive method to earn for viewers as they don’t have to rely on any third-party ad services. Also, subscription-based revenue models help creators earn more than ad-based models.
You can choose a subscription-based revenue model if you have a larger audience who can pay the fee. When you haven’t earned a decent fanbase, it is best to stick with the ad-based revenue model since many people are reluctant to pay a monthly fee and might prefer free content.
Ads And Sponsorships
Now comes the third way of generating revenue: running ads and getting sponsorships. These two are the most common and oldest revenue models that any creator can opt for and start earning.
These methods are also suitable if you are a beginner and want to kickstart your earnings. Since ad-based revenue models do not need the audience to pay anything, it is generally easier for viewers to stay with your channel longer.
Instead of paying bucks, viewers pay with their time when they watch the ads while streaming the videos. However, the final earnings depend on the size of your audience or how many people stream your content.
When you have connected with the right audience who is truly interested in streaming your niche of content, it becomes relatively easier to earn.
Sponsorships also work great while running advertisements in your videos. By taking sponsorships from different brands, creators talk about their products or services in between the videos and let their audience know about them.
Since brands want to tell more and more people about their products or services, they pay the creators a certain amount of fee in return.
Creating a strategy before uploading the video content always helps you create better and ensures decent earnings. It lets you know the audience who would be your potential subscribers and want to explore your niche and learn stuff.
Above, we have discussed all the majorly used revenue models which let creators monetize the videos. You can utilize any suitable monetization model as per the kind of content you upload and the audience you have.
Let’s start with creating your channel, implement the discussed points, and gradually, you will find your way around. Explore your monetization options and streaming platforms; you will find the one that suits you the most, whether it be SVOD, TVOD, AVOD, or Hybrid.