In this digital era, many people spend their time surfing the internet and on various social media platforms. They enjoy a variety of entertaining content, one of which is video content. This type of content is the content that is most in demand by social media users.
According to the American Marketing Association, 85% of video content will become the main content of all content on social media by 2018.
That means, your opportunity to be able to generate money from video content through social media is very large, whether to develop your business, promote business products, services, and services, increase brand awareness, or build personal branding.
Social Media has become a valuable video marketing tool for publishing content. However, many marketers still make the mistake of publishing content without monetizing it.
Therefore, if you have been creating and publishing video content for a while, this is the right time for you to implement a video monetization strategy.
There are eight ways to monetize your video content on social media that will not only help your business grow but also provide income for you.
1. Choose The Right Platforms
The first thing you can do is choose a platform that suits your business needs. Maybe when you first start creating content, you want to be able to publish your video content on all your social media platforms.
However, this method is wrong because it will lose your focus and not all platforms have your target audience and suit your business needs.
Therefore, you must do in-depth research on each platform and determine which social media suits you and your niche. This will help you be more focused and effective in monetizing your video content on social media.
It should be noted that when you want to publish your video on social media, find out the type of audience you want to reach and choose the method that is most likely to engage them. do more experiments so you can find the platform with the strategy that generates the most income!
2. Product Video Placement
In this day and age, most marketers use product video placement as a fairly effective monetization strategy. Therefore, doing product video placement on various social media platforms is often the choice of various brands around the world.
This strategy features other business products in your video content. The difference with sponsored videos is that you can take full control of your video content, it’s just that you will include or promote other business products in your video content.
So, this is a great video monetization strategy for you to do on social media. Product placement also lets you dive deeper into video content and see what works best before investing a lot of time and effort.
3. Video Sponsorship
The next tip is to do video sponsorship. This method is often done by most content creators and has proven to be quite effective. You need to partner with other businesses to co-produce videos and each promotes those videos on their own social media channels.
This strategy will not only help you make money but also increase brand awareness and attract potential customers from other business customers in the long term.
So, this is a win-win strategy that will benefit both businesses and you can establish good cooperation for the long term. Also, keep in mind that carrying out this video sponsorship strategy requires high-quality video so that the audience doesn’t see it as a distracting ad.
4. Affiliate Marketing
Recently, most people have become interested in becoming affiliate marketers to make money. Affiliate marketing is a marketing or business method that allows you to earn a commission if you successfully promote a product, service, or service.
Affiliate marketing is one of the most common ways content creators monetize video content. Content creators usually go two ways when doing affiliate marketing, namely by sharing a hyperlink in a small amount of text or a call to action by the content creator during the video.
Then, promote affiliate links that content creators get from brands or businesses affiliated with them. When someone uses that link to buy a product or service, the content creator gets a share of the sale to bring new customers to the business.
5. Community Engagement
When you want to monetize your video content, you can do community engagement. This can give you a lot of profit in the long run, not only making money but also building relationships with your loyal audience, as well as reaching new audiences.
To engage the community you can start by asking your viewers to submit their video content in the form of video testimonials.
This method has become a trend on various social media to provide product reviews that will be broadcast on the customer’s channel. then, you will just re-upload their video review.
Apart from increasing community engagement, it will also provide brand awareness and can reach a wider audience about your video content. So, you can also show your audiences that you care about them.
6. Freemium to Premium
The next tip is to provide content and then charge the fee you have set. This can also be called freemium to premium. This strategy is being widely practiced on social media and is proven to work effectively.
But it’s not that easy to carry out this strategy because many competitors provide video content for free. Therefore, you need to do a plan and strategy to be able to build customer trust and show that your content is worthy of being used as premium content.
The first thing you can do to help build trust is to give people something free first, they get a chance to evaluate your content and decide if it’s worth it for them.
So, prepare more carefully before you finally create a paid service. make sure you have something to encourage some of your audience when you convince them of your quality with freemium content.
Takeaway
With the popularity of video content today, not a few people want to make money and become content creators by profession. However, behind the many content creators and the competition is quite tight, to make money from your content, you need the right strategy.
You can monetize your video content on social media by using the 6 tips mentioned above to help your video content succeed and make a lot of money. So what are you waiting for? It is time for you to take action to start monetizing your video content on social media.
Author Bio
Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).
Twitter: @breadnbeyond
Email: andre@breadnbeyond.com
