A Step by Step Guide on Video Marketing and Monetization for 2021

Interested in video monetization and marketing? The text below can be your step by step guide on the topic!

Businesses across industries are facing very uncertain futures due to the ongoing coronavirus pandemic. And when it comes to uncertainty in the business world, marketing has been out front. We have seen drastic changes in buying behaviour and consumption since the onset of the pandemic, and some of these changes are expected to linger.

The marketing landscape has changed, perhaps forever, and businesses have no choice but to change their approach vis-à-vis how they reach out to their customers.

According to online research, videos on a landing page increase website conversion by 80%.

How to Use Videos as a Marketing Tool

Video editor on Mac

Video is absolutely essential to your marketing effort, especially during these unprecedented times. After all, research shows that video content will make up 82% of consumer web traffic by 2020. If you are currently working on a marketing plan during the pandemic, make sure that it includes video. The question is, how do you integrate video into your marketing strategy and use it as a marketing tool?

First, you need to make sure that you are making great video content. Research is your best friend. Take a deep dive into your target audience to figure out how to connect with them through video. Consider factors such as the goal of the video, i.e., launch a product, increase brand awareness, etc. These insights will inform the type of videos you create and how much money you spend producing each of them.

How to Generate Views

While it’s not the only metric that determines the success of your video marketing campaign, ensuring that your videos get a lot of views is important. The key to getting your videos seen is distributing them in all the right places. Facebook and YouTube are the most recommended platforms when it comes to video advertising. Your choice of where to upload is just as important as what you upload.

Another important factor when it comes to generating views for your marketing videos is creating great video content.

You have to learn more about your audience to provide value through your videos to generate views on Facebook, YouTube, and other platforms. What does your target audience like? When you make great content, people will share your videos on social media, and you will get more views.

Make Use of YouTube & Social Media

Person watching YouTube

YouTube and social media platforms such as Facebook are pivotal to your video marketing strategy. According to online research, more than 1 billion hours of videos are consumed every day on YouTube alone. Videos posted on social media generate 1200 more shares than text and images combined. Therefore, you need to make sure that you are getting the most out of these platforms.

Google’s video-sharing platform YouTube offers the benefit of reaching a large audience with no upload or hosting costs. It’s a great platform for hosting your videos and growing your audience. Social media is a great platform where your audience can view, share, and engage with your videos. Posting your marketing videos on social media is a great way to engage with your audience.

Make Use of Live Streaming

Person live streaming on phone

Today, people are using platforms such as YouTube, Instagram, and Facebook to watch billions of hours of videos every day. While pre-recorded videos still dominate these platforms, live video is catching up. The popularity of live video is growing, and live streaming generates more traffic, views, and engagement than ever before. As a marketer, you need to make sure that you have live streaming in your strategy.

Use Facebook Live or Instagram Live to post live video streams to engage with your audience in real-time. Your live videos will be broadcasted on these platforms, so that’s where you need to promote them. Experiment with different use cases and types of content to see what your audience likes the most. To encourage more engagement on your Instagram or Facebook live, acknowledge and respond to comments live during the live stream.

Create Viral Content That Is Easily Shareable

A well-worn point, but bears repeating: making great video content is imperative to the success of your video marketing strategy.

Sometimes, luck determines which videos go viral, but you can get luck on your side by creating great content.

You have to create something that people will want to share with their friends, whether it’s a video with a strong message or a cause or a cute pet video that will make someone’s day a little better.

How to Monetize a Video Through OTT Platforms

Pile of euro banknotes

Basically, video monetization is getting paid from the videos you share online. Over-the-top (OTT) video refers to a method of broadcasting that transmits videos over the internet and is one of the best ways to make money from video content. Since geo-blocked OTT services like Netflix require VPNs to unlock, the vast majority of users prefer smaller platforms as they are easier to build and monetize quickly.

There are several ways to monetize video through OTT platforms. These include:

  • Ads. Ad-based monetization serves ads to viewers instead of having them pay to watch video content. The ads are paid for by sponsors and can be a lucrative source of income if you have large viewership.
  • Pay-Per-View. This method of video monetization allows users to access content for free and only pay for the videos they decide to watch. This is what happens when you download a video from iTunes or Play Store.
  • Subscription. This monetization model for OTT videos requires users to pay a recurring subscription fee to access your videos. Users lose access to the library when they stop paying. Popular VOD services such as Netflix and Amazon Prime Video use this model.

The Covid-19 pandemic has had a huge impact on the marketing landscape. There have been drastic changes in buying behaviour and consumption, prompting businesses to change their marketing strategy. Recording the greatest increase in consumption during the pandemic, video marketing has taken off, and this trend is set to continue for the foreseeable future.

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Published on January 14, 2021 by Peter Hughes. Filed under: , , .

Peter Hughes is a digital marketing consultant and author. Peter has more than 10 years of experience in SEO and Internet marketing.

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