How to Monetize Your Online Videos
Note: This is the last episode of #DuckerZone in it’s current run. We’ll be back in early 2018 with more video content!
Facebook has predicted that the web will go entirely video-based in the near future, so my question for you this week is, are you making any money from video blogging yet? If you’re NOT, sit back for a few minutes to learn how to monetize your online videos, and turn that train around.
Ready. Set. Go!
If you’re a vlogger with a decently sized audience, you can approach potential sponsors and request their support for your show. They might sponsor a single episode, support a whole or partial season, or compensate you for published reviews of their products or services.
If you want to work with a brand, put together a comprehensive proposal that outlines who you are, what your vlog is about, why your expertise and theirs align, and some potential collaboration opportunities. They may have their own process as well for dealing with vloggers, so be open to the process and see where it leads.
2. Your own merchandise
Some vloggers sell branded merchandise, products, and/or services to support the costs of running the show. This is a unique and fun way to expand your relationship with your viewers since it means they can take their appreciation of the show beyond the show itself. Merchandise could be as simple as a T-shirt, so don’t get too worried that you’ll have to get completely crazy, but do take the time to select quality merchandise that represents your brand.
As for selling products and services, this is kind of like seeing your vlog as a webinar of sorts. You’ll spend the bulk of your time teaching and connecting with your community, sharing what you know generously and in the spirit of service. At the end of your show, or on the occasional special-edition episode, you’ll devote some time to explaining the kinds of products and services you have available for purchase. Remember that you’re providing a service by making your expertise accessible to as many people as possible. It would literally be a DISSERVICE to keep quiet about your products and services.
Different from sponsorship relationships, you can set up your YouTube channel to play standard-issue ads before your show. A Google AdSense account is completely free to set up, and your revenue will relate directly to users’ engagement with the ads themselves.
4. Viewer contributions
Many content creators have set up accounts with Patreon, which is basically like crowd-funding your vlog revenue. They can donate once or on an ongoing basis, and their direct support is wonderful evidence that you’re contributing to their lives and their goals, just as you set out to do!
Charge What You’re Worth
Over the last few weeks, we’ve discussed monetising your podcast, your blog and now today, your online videos. However, I have one last parting thought on monetization and pricing in general that I want to share with you… be sure to charge what you’re worth – and don’t apologize. People will gladly part with their hard earned cash if you’re providing them value and affecting positive change in their lives.
Did you enjoy this episode of #DuckerZone? Let me know on Twitter and via Facebook!