Oh video, oh video, wherefore art thou video? This strange version of a Shakespearean question is not needed; video has now become a must have for your website and all round marketing strategy. If you don’t see video content it’s more a question of why is it not there?
According to WordStream, video can drive a 157% increase in organic traffic from SERPs. Video on your landing page can increase conversions by 80%, or more. Video attracts two to three times as many monthly visitors.
There you have it, video equates to more viewers of your site, products and brand. It can also get you a higher conversion rate, and the question that remains is how to transform a viewer into a paying customer or to otherwise profit from your own online video platform?
Monetize video through viewer conversion:
The optimal length of your videos should be approximately 2 minutes. By not overdoing it and by keeping your pitch or demonstration clear and short, you should be able to obtain an engagement rate of about 70%.
Within that 2-minute window you need to maintain the attention and interest of your audience to stand any chance of conversion.
Your biggest asset is your website and by placing your video on your landing page, you immediately trigger interaction and engagement upon ‘arrival’. Whether it be good luck or other marketing methods like SEO that prompted a customer to visit your site, the second they arrive you need to entertain or at the very least help to direct them.
A tool at your disposal is video auto-play, but you need to be careful with this and perhaps even save this for a promotion that you may have in future. The possibility of transforming a visitor into a loyal brand follower decreases greatly if an automatic video pops up. Do not stop or restrict your audience from what they want; video generally needs to be a supporting, background or voluntarily engaging feature – from the beginning at least.
Perhaps infrequent use of auto-play may help you. Perhaps you have an annual promotion that you wish to sell quite strongly, but generally speaking, restraint in the recommended approach.
If we view your video output as being part of a video monetization platform, certain areas need to be focused upon and in some cases not always immediate viewer conversion is one of them. Leaving a lasting message and positive brand image will benefit you and your business in the future, and you don’t want to be too strong – a customer should be willing and their response to you should be organic. A happy viewer of today can always be a paying customer of tomorrow.
Monetize video through 3rd party advertising:
With billions of users between them, YouTube and Facebook are the kings of online video. YouTube’s monetization is a powerful way of generating cash flow for many publishers, with numerous advertising and marketing options available.
There are numerous ways of incorporating a 3rd party’s product or name within your own video output, or even attracting a sponsor. Likewise, there are business video hosting platforms which offer you many added features and support systems in addition to ‘just’ a video player and hosting.
The vast majority of individuals and businesses prefer umbrella like services. By that I mean, for the sake of simplicity, the general preference is to have everything under one roof and managed / controlled from the same base or platform. This type of multi-functional service is a growing trend, and an example of this is cincopa.com’s very own multi-media video platform. Having secure video content is paramount and especially with regard to business video hosting. Their inbuilt Content Delivery Network (CDN) is designed to ensure the highest delivery speed possible whilst also being quick, secure, stable, and made to deliver the best quality video streaming.
An added incentive which can come part and parcel of this, is their VAST ads function which can be incorporated into your customized platform. As a video owner, you can publish custom ads from third-party advertisers, set your own pricing, and optimize the placement. At the same time as this, you can cross-promote your own content and spread your brand message further afield.
Monetize your business video:
The videos that you display shouldn’t simply be “here’s our product, come buy me”. Your video output should cover everything and attract interest from different and insightful angles. Videos that come in educational webinar format, videos that show how your business was created or pieced together, and video explanations of products which include visual examples of use should all be demonstrated.
A viewer doesn’t just want to see or hear in different ways ‘buy buy buy”. We the human race while perhaps somewhat lazy, are naturally inquisitive. Show off your background and the story of your ideas and business, and more often than not these honest stories of creation are welcomed.
Also, capitalize on your own expertize. In video format you can offer subscriptions, ongoing tips and recommendations that relate to your sphere of business. You can introduce 3rd party guest speakers which promote your products and attract a wider audience. The options and angles in which you can approach this are limitless; striking a balance between being interesting, attractive, and while pushing for that “buy buy buy” is key. Encourage regular visits to your website, this is an opportunity to regularly expose viewers to your value propositions and it also pushes for specific buying actions.
Online video; a flexible medium which guarantees another channel of revenue:
If you don’t already have video incorporated into your site, you are now in the minority. Facts and figures point towards guaranteed success when utilizing the medium of video, and these figures are ever increasing. Success is a broad term and in the case of online video, success includes increased engagement and money-making.
Viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text. This figure also needs to be remembered and acted upon, especially when pushing to monetize your website as a whole.
In an ideal world, your target audience will visit your site, select the pricing tab and make a purchase. What about the vast majority of people who don’t know the ins and outs of your product or can’t decide between you and 20 other competitors? Here your online video platform can entice and inform. Here your gallery of videos can be demonstrative and educational; while being short and cutting to the point. Here with an insightful and entertaining online presence, you have another avenue in which to generate money for your business.