How to Start a Video Monetization Strategy

What is Video Monetization:

Video monetization is nothing but you are getting paid for the videos which you publish online. It depends upon your creativity. When more people watch your video you will get greater earnings. Video monetization is rapid growth for broadcasters and online brands. The research on streaming shows that overall video ads grew by 46% compared to last year with live content doubling in market share.

This gives a unique opportunity for organizations to monetize their video libraries and create a good income. Monetization is the new standard of profitable media delivery and consumption for ad-supported content, viewer subscriptions, all the way up to pay-per-view and on-demand services.

There are a few approaches down that you can take to monetize your content. You can generate revenue from your viewers or access your viewers. Let’s take a look at these approaches.

1. Plan it Out

Every great video monetization strategy should start with a solid plan. To create a plan, you must have a solid understanding of what you have to offer and who you’re trying to reach the audience or viewers. Ask the following questions to yourself before start organizing your thoughts:

Is your library extensive enough to charge a subscription fee?

Would your viewers be able to pay for accessing your content?

Whether your audience is large enough to warrant sponsorships?

Will ads deter users from your content?

How will your content impact your viewers?

What is the return on investment?

How much do you need to make to break even?

2. Choose a Type of Monetization

Now is the correct time to choose a specific type of monetization. The best OVPs are one-stop shops that provide integrated hosting, distribution, and playback of content in a single package. Top range providers also include integrated paywalls to restrict user access and to generate revenue from your content. Video monetization for live streaming includes pay-per-view, advertisements, subscriptions, and funneling.

Pay-Per-View (PPV)

Pay-Per-View (PPV) or Transactional Video On Demand (TVOD) requires viewers to pay for each piece of content that they watch. TVOD is a very important monetization model. Having first-run rights to exclusive content means broadcasters can charge a premium for accessing their content. However, the revenue is typically less as compared with subscription monetization models.

Subscriptions

In SVOD, viewers pay for a subscription from monthly to annually as per viewer’s wishes. SVOD stands for Subscription-based Video On Demand which is a commonly used monetization format where users pay a recurring fee (usually monthly or annually) to access content from your video library. Subscriptions require your hard work for the benefit of recurring revenue.

Generally, subscriptions were best for larger audiences, though there are exceptions.

Ads and Sponsorships

Selling ads was one of the oldest forms of marketing work with video in much the same way as radio or television. Brands pay to share their advertising with your audience along with the bottom third of the user’s screen or in short clips throughout a video. In this many online audiences are already accustomed to. On advertising video on demand, the majority of a broadcaster’s content is free because operations are supported by third-party ads used before, during, or after your videos.

Funneling

For revenue generation, you can also use video to drive traffic to other websites or landing pages. After watching your videos, broadcasters include specific calls to action regarding the further steps that should be next. It involves a separate link to click on or a follow-up video providing additional information.

3. Choose a Video Monetization Platform

Powerful Subscription Management System

A powerful subscription management system will help you to keep everything in line with your subscribers. Controlled through our dashboard or video API, the platform allows broadcasters to add subscribers to their channels. Subscriptions can be configured for weekly, monthly, quarterly, or biannual payments and easily downloaded to track user and revenue analytics.

Live Event Support

A very engaging form of video content is live event streaming. For generating revenue live events will help you to connect with your audience. An online video platform with live streaming support opens the doors to explore more possibilities.

Top-Tier Content Delivery

It is important that your video player is reliable and your delivery is consistent when you are generating revenue on your content. This massive scale offers you unparalleled performance. It also offers the bandwidth to deliver consistent quality and also secure streaming experiences around the clock.

4. Finalize the Details

It is time to consider the available features once you’ve chosen an online video platform. Some other platforms include bonus tools including promo codes, free trials, and more.

Free Trials

VOD providers often use a limited-time offer for audiences to try out their services and to know what they think. The important feature is that once the billing cycle begins, a large portion of these free users will elect to continue with the same services. Free trials were a common pricing model that works well to attract new customers in almost any way.

Freemium

Freemium is another pricing model which works for video monetization. The viewers will get free limited access to your video library as long as they want. But the premium content remains hidden behind paywalls with paid user accounts required for access.

This freemium model works well to build a following. Although it requires constant marketing to entice free users to convert to paid accounts.

Tiered Pricing

A flexible monetization option that allows broadcasters to creatively mix and match their offerings is Tiered Pricing. In this form of approach, services vary based on the cost of the users’ monthly plan. However, this model works best for large audiences and may not for broadcasters just starting out.

Promo Codes

Promo codes help broadcasters to give discounts to their viewers. This will come in different terms and different discounts. It is a good way to attract interested viewers to sign up or to honor your loyal viewers. Promo codes are also great if you are using influencer marketing.

Group Pricing

Group pricing can offer group rates that allow an organization the option to pay one rate for their entire team to access your content. You can conclude custom contracts with partner organizations or you can set standard group rates.

5. Launch Your Content

After you set up everything, it is time to launch your content. You could do a grand launch event to hype up with a strategic marketing campaign or you could roll out your platform slowly to make your platform seem more exclusive. Once you launch your platform, study analytics closely and see what content does well and how users respond to it. Also, track your revenue to make sure you are hitting your goals.

Final Thoughts

In video monetization, video advertising will feel right to some while pay-per-view hosting or subscription models work best for others. Successful broadcasters maintain a deep understanding of their audience and monetize content in such a way that benefits both them and their viewers. These are the few steps to keep in mind when you are making video monetization.