Video content has been a big hit in the marketing world ever since the invention of the TV. After all, we are visual creatures. So, dynamic videos paired with a catchy jingle sure helped businesses boost their sales. Commercials were the first form of video content and, for a long while, they have done a great job.
However, times are constantly changing. Streaming services and their no-commercials option have all but killed that industry. But, the marketing world adapted.
Since the rise of social media, businesses have had to get creative in advertising. Sites like Youtube opened up a plethora of possibilities for creating video content. Sadly even today, many business owners tend to lack in that area. Successfully monetizing your video content can be a tad tricky. Worry not, for we are here to help.
Where Do You Begin?
First thing’s first – know your audience. It can be incredibly tempting to post your videos across all social media platforms. However, that can also get expensive. Businesses do not tend to have big budgets for social media management. That means that you should go for quality rather than quantity.
When it comes to video content, you need to have a target audience. The average user base of TikTok and Instagram is younger than that of Facebook. So, even though all three platforms offer video content promotion, you will not be getting the same reception. For example, if your business deals with landscaping, your video content will probably be a bigger hit with Facebook users.
Now, let’s talk video monetization. Its success depends on finding the right strategy and pairing it with the correct demographic. Some businesses do better with video podcasts others have more success promoting via Reels and TikToks.
There are many possibilities and even more information on the world wide web. But, do not burn yourself out researching all the how’s, what’s, and so on. Instead, allow us to present you with our five ways to monetize video content on social media.
How To Monetize Content on Social Media
We are starting with one of the most common ways of monetizing video content. Product placement means that you feature a product in your videos. It can work well if done correctly. The trick is to place the product in a way that feels natural. It also needs to appear in a video type that your audience already responds to.
If your business sells clothes, you could do a video where you pair evening wear with a champagne brand. You get creative control over the video itself, so have fun with it. Another thing worth mentioning is that the product should be high quality, or your audience may find it way too obvious.
When it comes to video monetization strategies, this is the OG. The gist is that you pair up with another business to create a video. After that, each business promotes the video on their respective social media profiles. You get double the benefits with this strategy.
First, you get to present your business in a new light to both of the business’ followers. Second, the additional exposure increases your chances of gaining new collaboration opportunities. The creative freedom over the video is significantly less than with the product placement strategy. After all, both businesses have to be satisfied with how it turns out.
Monetization with Affiliate Programs
We have now mentioned two ways in which you can monetize video content. But, what to do if you do not want to do a joined video? Or if you are not really into doing a stealthy product placement? In that case, your go-to strategy is affiliate marketing. You have seen it before in one of two forms: a highlighted hyperlink in text or through a direct shoutout by a content creator.
You partner up with a business whose products you want to recommend to your audience. They give you an affiliate link that you will put in your video, and whenever someone uses it to make a purchase, you get a portion of the sale. The trick here is, once again, knowing your audience.
If your customers have a specific interest, you need to match it with your affiliate’s service or product. That is how you maximize the sales.
Freemium Business Model
The freemium business model has recently gained traction in the marketing world. The idea behind it is to give a part of your content for free so that your audience can see the value of upgrading to a premium package. That way, people can evaluate whether it is worth buying.
This business model builds trust. It shows that you believe in your product, as well as in your customers. They have no obligation to purchase something, and you still get social credit. However, this model works best if you already have a paid service set up. Once you convince a certain number of people of the quality of your products, you have to have something to link them to.
Let us make one thing clear: you will never choose this video monetization method as your starter one. Creating online courses, webinars, coaching sessions, and such allows you to share your knowledge with your audience. Through them, you profit off of your experience in your field.
Yet, to do so, you already have to have an established following. You will also need to have years of experience and a set reputation under your belt. No one wants to learn from a newcomer. Keep in mind that this method also does not work for every field.
Video content creation is an ever-changing field. It is hectic, dynamic, and requires constant adaptation. So, monetizing video content is not simple. Click here to learn more about social media monetization. It also is not something to fear. Remember: do not go for quantity over quality in your social media presence. Keep your collaborations and videos high quality. Most importantly: listen to your audience. We guarantee that you will see a profit.