Social media is no longer just a platform for creating content. it has evolved into an excellent business tool.
Of course, their core is still content creation, but influencers and businesses now see these platforms as a critical component of their content strategies and acquisition of potential customers.
Thanks to platforms like YouTube and Instagram, people from all over the world can create communities based on their interests, and influencers can build an ever-growing fan base.
But having likes and shares are no guarantee of revenue. You also need to use strategies to monetize your content and make a living from it.
Many people still believe that having millions of YouTube subscribers and being a part of their partner program is the only way to make money from their fanbase. However, this is not always the case.
Consider for a moment that you already have the most important component of any content-based business: AN AUDIENCE.
The challenge is to convert this audience into customers, creating or increasing your revenue stream.
This guide will show you how to take your business to the next level by creating your own platform and working together with other social media platforms.
Developing a good content strategy to leverage your revenue is based on the use of platforms, each with their own set of functions.
Assume that you currently use YouTube to post longer videos, that you have a monetized channel and make money with it, and that Instagram is used to engage with your audience and post short content.
If this is the case for you, there is good news. You’re using the right tools to attract, delight, and keep your audience.
However, you can improve this strategy by starting your own VOD business.
Don’t think that VOD is intended to kill your YouTube channel or force you to stop posting videos on Instagram. Instead, having your VOD platform is the final piece of this strategy that brings together the best of each tool.
When it comes to content strategy, creating your VOD platform is one of the wisest decisions you can make. Consider putting all of your premium content on a platform designed specifically for your company.
That is exactly what we do for our customers worldwide. In addition to the numerous tools provided by FanHero, you can rely on our content monetization system, which is complete and allows you to make money from your content using any model you prefer: subscriptions, advertisements, or pay-per-view (or all at once).
LET’S DO IT
Creating your VOD platform does not have to be difficult, and you do not have to be a coding wizard to do so. Consider purchasing a pre-built platform that will be customized with your brand, where you can upload all of your premium content and charge for it however you see fit.
There are a few steps you can take to make the transition from fan to customer as smooth as possible.
1. DEFINE YOUR STRATEGY
What will you offer to persuade your followers to pay for it?
Interact with your audience to learn what they want to see, and perhaps that will become your main product.
2. INTERACT WITH YOUR AUDIENCE
While this may appear to be a simple marketing strategy, talking to your target audience can be one of the most important steps toward being assertive when creating premium content.
It enables you to obtain valuable information such as the most popular content, the main reasons for not purchasing your product, and even the amount they are willing to pay for premium content.
3. CREATE YOUR PLATFORM
While this is critical, it can also be the simplest step if you have a partner like FanHero to handle it.
FanHero gives you access to the best tools on the market while allowing you to focus on your business because we deliver the platform ready to use.
After that, it’s time to promote your VOD platform to your target audience.
You can make promotional videos for your YouTube channel that offer your product and demonstrate its benefits.
It’s important to note that your audience is used to consuming your content for free, and when creating your own VOD platform, they will have to pay for your premium content.
Offering a free trial is a popular strategy for capturing customers and providing a good experience even before purchase.
If you’d like, you can get to know our platform free of charge through our 7-Day Free Trial.
If you have any questions, leave them in the comments or click here to talk to a member of our team.