The best thing to do is earn money from your videos. So how can you do that? There are several ways to earn money with your Youtube video ideas. Some of the methods include custom merchandising deals, sponsorships of topics or products in your videos, and selling paid content subscriptions on one or more channels. Most importantly though is reaching out to advertisers who are looking for well-produced and engaging ads like yours. These advertisements could be anything from corporate commercials, product endorsements, or even celebrity cameos in your video. If you have an Instagram account Mixx can help you grow your audience. It all boils down to making it easy for companies and individuals to want your content.
Video Monetization: How To Earn Money From Your Online Videos
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Now, more than ever, it is essential to understand how video monetization works. Here is why.
Consumers are watching more brand videos every year than ever before. According to a survey, fifty-two percent of consumers have more confidence in their purchase decision after watching a product video.
As more businesses realize this, they’ll ultimately start incorporating this form of marketing into every stage of their customer’s journey.
A 2018 survey shows that 48 percent of consumers made a purchase after watching a brand’s video on Instagram. That’s a whopping 32 percent increase from the previous year.
Aside from watching, consumers tend to share this form of ad 20 times more than any other.
According to a study on how brand videos affect businesses, 70 percent of consumers had shared a brand’s video in the past. Also, 72 percent of companies say that video has improved their conversion rate.
While there’s no denying that videos are essential as a marketing strategy, one big question still lingers:
How Profitable Is Video Marketing?
In short, it’s immensely profitable.
Back in 2018, global video ad spending reached $91 Billion. According to Forrester, this figure is expected to increase to $103 billion by 2023.
The study also revealed another interesting fact.
While display videos account for 82.7 percent of online videos, social media videos are fast catching up. With its compounded annual growth rate of 20.8 percent, social videos are set to take the stage.
That’s right; whether you own an Instagram, Facebook, or YouTube account, you can make lots of money from videos. But, how can you enjoy part of the coming windfall?
That’s where video monetization comes in.
Video Monetization: 7 Ways To Make Money From Your Videos
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Here are a few things you should consider to make money from video sharing.
- Create A Profile On A Crowdfunding Platform.
Thanks to platforms like Indiegogo and Patreon, you can make some quick bucks off your videos. Just offer exclusive content such as early access, or a sneak peek to your subscribers for a fee.
Also, the crowdfunding platforms allow you to connect with your customers and develop an authentic relationship with them.
- Consider Affiliate Marketing.
Affiliate marketing is another excellent way to monetize your videos. Aside from earning off your video, you can help your audience and build a great relationship with your favorite brands.
There’s just one thing. To make money from affiliate marketing, your blog must enjoy a good number of new visitors every month. Otherwise, you would be targeting the same link to non-unique visitors.
- Keep Premium Contents Behind a Paywall.
While hosting your content on video sites like YouTube or Vimeo, you can also create premium content and place it behind a paywall.
That means, your audience has to pay a stipend to access the high-quality, long-form, visual experience. It could either take the form of a weekly episode, documentary, or reviews.
- Look For Sponsorship And Product Placements.
Although this method of video monetization seems somewhat obvious, it’s not as easy as it sounds. Sponsorship and product placement is a viable option only if you already have a strong online following as a creator. But there’s an exception.
Niche channels with a small, but specific audience can reach out to businesses within their category.
For example, tech review videos are usually sponsored by companies trying to sell their VPN apps, Antivirus apps, or Task Managers.
- Create an Online Course.
If you’re an expert in any field, you can create an online video course and charge a fee. No, you don’t need any form of certification to teach online courses, even though it helps.
Just make sure your topics are relevant and actionable. For example, create helpful hacks videos or strategies that offer fast results.
- Do Product Reviews
With product reviews, not only would you make money from your videos, but you could also get freebies. YouTube tech reviewers often get various gadgets from tech companies.
With that said, a broad subscriber base is necessary to take advantage of product reviews.
In the end, your audience would benefit from your reviews, the brand would get more publicity, and you’d make money. It’s a win-win for all the parties involved.
- Run Ads on Your Videos.
This is perhaps the easiest way to monetize your video. However, to boost your video stream revenue via ads, you must know which ads to pick, and the placement.
According to a University of Massachusetts study, the ad completion rate is mainly determined by the ad placement in the video.
For example, ads that appear in the middle of the video have twice the completion rate of advertisements at the beginning. Also, viewers are 87 percent more likely to sit through ads in long videos compared with short videos’ 67 percent.
Of course, other factors could influence your revenue from ad placements. These include the viewer statistics, the online channel algorithm, and the advertiser’s guidelines.
So, which online platforms are right for video monetization?
The Best Video Monetization Platforms
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Outlined below are the top video monetization platforms you should consider.
Video Monetization on YouTube
YouTube has 2 billion monthly active logged-in users. Tapping into Google’s vast network of advertisers, this video platform offers revenue sharing models to publishers that want to monetize their videos.
It collects 45 percent of the ad revenue from creators making six figures. Creators with five-figure earnings, on the other hand, have to pay 35 percent of their earnings.
But don’t let the significant percentage fool you, video monetization on YouTube is still profitable.
The number of YouTube publishers who earn six figures per year has steadily increased by over 40 percent since 2017. Also, the five-figure earners club increased by 50 percent within the same period.
Last year, YouTube introduced a new set of parameters for publishers who wants to monetize their videos. These include:
Have a minimum of 1,000 subscribers
Minimum of 4,000 Watch Hours in the Previous Year
Prioritize Watch Time Above View Count
Aside from these conditions, check out YouTube’s Terms of Service and Community Guidelines. Once you’re satisfied, set up your Adsense account within the platform and start making money from your videos.
Video Monetization on Facebook
Of all the social media platforms on the Internet, Facebook may be the most prominent data collector. As a result, the social behemoth has always been lucrative for advertisers and marketers alike.
Facebook has a massive 1.45 billion daily active users. According to reports, 40 percent of this figure tune in to the social networking site’s video platform.
To make money from your Facebook videos, first you must satisfy the following criteria:
The video must be at least three minutes long
The 3-minute video must have 30,000 one-minute views in the last 60 days
Your page must have at least 10,000 likes
With that said, meeting all the criteria above does not guarantee video monetization. Like YouTube’s monetization process, publishers also have to follow their advertiser-friendly guidelines.
Since Facebook goes through a human review process, it often takes hours to days to approve your published video for ads. That means less ad revenue for publishers.
Video Monetization on Instagram
In 2018, Instagram started gearing up for video monetization.
It began with the launch of its IGTV, which enable average users to upload up to 10-minutes videos. Larger and verified accounts, on the other hand, can upload hour-long video content.
Instagram has not introduced a monetization model – not yet. But, experts believe that videos on the social media app will soon have pre-roll and mid-roll ad breaks in long-form videos.
Alongside subscriptions and direct transactions, Instagram is expected to offer a revenue-sharing model similar to Facebook’s 45 percent.
Until such a time, you may have to stick with product reviews, affiliate marketing, including sponsorship and product placement.