There are a number of ways to monetize your live streaming video (LSV) in order to boost your business and bring in all-new streams of income. As we have discussed, you need compelling content and an eager fan base willing to watch your videos, either at social media sites or your website. However, what if you could get even more viewers? Video syndication could help.
Video syndication can be a powerful tool in growing brand awareness and increasing income. Syndication sounds complicated, but it simply means distributing your video to a range of different sites, typically through a partnership that syndicates the content with a view to monetizing it.
Many video syndication services will push your videos out to their network of publisher websites and blogs. For example, AOL On pushes video to major outlets like The Huffington Post, Engadget, The Weather Channel, and more. The trick is to look for a distributor that distributes to the niche-related sites or general type of consumer you wish to reach. They will then split the revenue with you.
Beyond monetization, syndication can get your content onto some of the most heavily trafficked sites and services, driving more traffic to your site and increasing your fan base.
Every new product should get its own video/s. This is a fantastic way to add a dynamic news cycle to your content and to increase the amplification of sponsors to help grow their brand along with yours.
Set launch date and create teaser videos to whet viewerís appetites for the product to be launched. Everyone loves a little bit of anticipation building!
This is ideal for product launches. Create content around an event, set a date/time, and launch it live. The most important parts of this will be making everyone aware of the event so they will attend, and delivering an exciting live presentation. Audience engagement during the event can make viewers even more eager to buy. Special insider pricing for attendees will sweeten the deal even more and stimulate sales.
This works in both directions. Email your lists to tell them about your video. Also, have a sign-up box next to your video player to allow people to sign up to learn more about your products and services.
Joint venture partnerships
Joint venture partnerships (JVs) will involve a 50/50 spilt of your revenue, but will give you access to another marketers subscriber list. Anyone can be a JV partner, with the exception of your direct competitors. Feature both of you on the video and make it exciting for your niche viewers. Then watch the sales roll in. Return the favor when they have a product launch and make money from their products too.
Video sales letters
Everything old can become new again with the help of video at your site. If you have an old product that is still relevant to the modern niche user, re-launch with a 2.0 version. For products that are not selling well, try a video sales letter, with a live stream of the item in action. Noting is more convincing than seeing something with your own eyes, and saves people a lot of time not having to read a long-form sales letter. Put the Buy now button on the side or underneath the video player, and watch your sales increase.
Each stream of income from your LSVs may not seem like much to start with, but they can all add up to a river of revenue for your business.
Now that you have discovered several ways to monetize your videos, letís look next at ways to engage your audience with live streaming video.
Be sure to follow the entire series here:
- The Ultimate Guide to Expanding your Business with Live Streaming Video
- How Businesses Are Using Live Streaming Video
- Equipment You’ll Need to Get Started with Live Streaming Video
- How to Choose the Right Platform for Your Live Streaming Video
- The Types of Content You Can Create for Your Live Streaming Videos
- Tips on How to Create Better Live Stream Videos and Events
- How to Grow Your Fan Base with Live Streaming Video
- Ways to Monetize Your Live Streaming Videos
- How to Engage Your Audience with Live Streaming Video
- How to Convert Your Audience into Customers
- Why You Should Add Live Streaming Video to your Marketing Mix
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