I have covered a lot of different aspects of video marketing on this blog, from strategy to tactics and tools. But one topic that I haven’t covered yet is how to make money with video marketing. Truth to be said, there are a few ways to monetize video content, and not all of them are bad. Let’s take a look at the various options and what makes them special.
1. Subscription Fee Plans
This is the most common way to monetize video content: charging people to view content. I like to call this kind of plan “freemium” because you are basically giving away the product (in this case, the content) for free and then monetizing it via a subscription. The downside to this approach is that you are completely dependent on the viewer taking action and signing up for the service. If you can’t convince enough people to pay for your content, you might not make any money at all. Furthermore, in today’s world of video content, where people have become very conscious of their data usage, this kind of plan might not be the best option if you want to keep your audience.
2. Online Learning Platforms
Nowadays, more and more people are turning to online learning platforms to enhance their knowledge and to fill in any knowledge gaps. So instead of having to depend on your college degree to get you through life, you can now use an online learning platform to get relevant training and certifications to boost your career. These platforms allow you to learn at your own pace and from the content that interests you most. The downside to this approach is that not all online learning platforms are created equal. Some are really just money pits that will cost you a lot of money to put your knowledge to work. Take your time researching the best option for you and your situation.
3. Online Courses
Another great way to make money with video marketing is to create premium course content that you can sell to people online. You can design your courses to suit your audience’s needs, interests, and objectives. The course content can include videos, quizzes, and maybe even some text in a comic book-like format. There are a lot of platforms like Coursera that offer courses for free, but you will need to complete a short application process and may have to commit to at least some form of paid work in order to earn a substantial income. This is another option that provides you with the flexibility to work remotely, which is becoming popular among digital nomads. However, this option requires a lot of upfront work, so don’t expect to make a significant amount of money quickly with this method.
4. Product Review Videos
I love reviewing products, so this is a job that I have often done for my own benefit. If you are passionate about a particular product or niche, you can use your personal review to show the world how great this product or service is and how you experienced it firsthand. While there are plenty of free tools to help you with product reviews, you will need to know how to properly use them. You might also want to consider hiring a professional mixer to help bring your video project to life.
5. YouTube Live Events
YouTube creators can also host and participate in live chats with their subscribers as a way to bring more value to their platform and to engage with their audience. If you are good at asking questions and providing answers, you can use these live chats to engage with your audience while also providing them with value. In some cases, YouTubers will even give away prizes or freebies during these live chats.
6. Affiliate Marketing
This is one of the oldest and most respected ways to make money with video marketing, and it is still very relevant today. All you need to do is find a reputable affiliate marketing program that fits your website or YouTube channel. Once you sign up for an affiliate program, you will receive a unique URL that you can use to track any sales that come from your website or channel. Depending on how you program the affiliate links on your site or channel, you can make money through either commissions or sales fees. If you want to get started with affiliate marketing, here are a few tips from experts:
- Find a niche
- Pick a product that you know well
- Build a community
- Make money
There are many more ways to make money with video marketing, but these are the six most popular. Not all of these ways are mutually exclusive, so you can mix and match as you see fit. The important thing to keep in mind is that you should always have a backup plan in case some of your tactics fail.