3 Steps to Start With Video Monetization

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In the world struck by social distance issues, video communication and content is getting more and more attention, and not without its reasons. The huge availability of video recording, editing, and streaming software makes video content distribution an indispensable part of our daily lives. It is estimated by Emarketer that in 2020, average video consumption time for US adults will exceed 100 minutes per day, and this number is estimated to rise with each passing year. Moreover, by 2021 over 73% of the US population is going to become digital video viewers, which gives creators an unprecedented opportunity for video monetization. But how exactly can video creators start with CTV advertising? Let’s investigate!

3 steps to build a successful video monetization strategy

At VlogBox, we believe that every talented video creator should get an opportunity to learn and benefit from video monetization tips and tactics. Of course, building your first video monetization strategy might seem challenging at a first glance, but with our simple step-by-step guide, you can easily get the vision for further action. So here the main tips to successfully enter the world of CTV advertising:

Step 1. Pick the right formats

There are numerous formats around the digital advertising industry and video marketing in particular. Having a general understanding of which formats work better for different goals can significantly help with building your video advertising strategy. Some of the most popular 2020 formats and strategies include:

  • Vertical video. This format is oriented at smartphone users and mobile advertising in general. In 2020, more than 50% of all video views are attributed to mobile devices, and this distribution is mostly independent of the business industry. So whatever your business goal is, if your campaigns are mostly mobile-based it might be one of your greatest decisions to opt for vertical orientation.
  • User-generated content. Well-known brands from all over the world spend thousands of dollars to showcase their products, but it is always our closest friends’ testimonials that we believe the most. Which is why user-generated content is gaining popularity across all business verticals. You can either feature their engagement in your video ads or invite users to create their own pieces. Either way, such an initiative will draw additional attention to your offers.
  • CTV and OTT advertising. If we take a look at connected TV advertising trends, one could notice that in recent years this industry is getting particularly alluring for monetization. According to Emarketer, total CTV ad spending in the US is going to reach $8.88 billion in 2020 and even increase to $14.12 billion by 2023. Such growth is a perfect opportunity for video makers who can monetize their apps and channels through advertising on platforms, such as VlogBox.

Step 2. Choose platforms

Apart from choosing the right formats, it is also important to pick the right platforms suitable for your specific video content distribution. The options are following:

Native streaming platforms. These are simple and often user-friendly platforms provided by the original streaming services provider, where one can share their content by creating their own channel or app. Options for monetization include subscriptions, purchases, etc, and depend on the particular platform’s policies.

One can also opt for ad networks that usually work by streaming video ads to your channel after adding their code. Most of them are based on the CPM bidding model and allow you to sign up with multiple networks.

Finally, video monetization platforms are solutions that help creators with developing their channels and apps, while also offering various advertising methods. One can reach wider audiences and ask for all the necessary assistance with marketing strategies to finally get the opportunity to devote all their time to content and creativity.

Step 3. Make your channel stand out

Your channel should provide real value in terms of content, but at the same time, it should also be well-designed and user-friendly. To achieve this, one should thoughtfully study their providers’ guidelines or take care of this with the help of video monetization platforms. Either way, here are the most important tips for your channel:

  • upload high-resolution images for logo and thumbnails;
  • choose the right tags and categories;
  • make sure the navigation through your app is user-friendly;
  • create only high quality content.

The takeaways

Throughout the last couple of years, video content distribution and consumption have been getting more and more important in our daily lives. Vivid and immersive experiences provided by videos became especially popular since the introduction of social distancing measures as a response to the global pandemic. This creates a unique opportunity for channel owners to build a successful video monetization strategy through CTV advertising. This can be done in three simple steps that include choosing the right formats and platforms for their video advertising strategy, and, of course, taking some time to build a helpful and entertaining channel with the help of a couple of tips shared in this post. At VlogBox, we believe that video makers should be able to leverage the full potential of CTV advertising which is why our platform is always open to those ready to step in the world of video monetization.