We all hear about diversifying revenue streams on our sites. If already heavy on the affiliate side, the next course of action is usually putting ads on. If you have both ads and affiliate reviews, you might then consider creating a digital product.
Digital products are great, and I do all of the above, but digital products take time to create. And sometimes you just don't have the time or resources to put them together.
That's where video comes in!
Beyond Youtube, making money from videos is a relatively new concept. It also takes a long time to build up a following, get monetized and start making money from those YouTube videos: you have to dedicate A LOT of time to the process!
Now, I am definitely not knocking YouTube, but this is just basic math:
Let's say you are getting 30,000 monthly pageviews on your site; the YouTube equivalent is 30,000 monthly views on your videos. If you do not already have a successful channel with an existing viewership, this is a slow and painful process.
But if you can leverage your existing blog visitors to get traffic to your video, suddenly those numbers start looking like a piece of cake.
The Slow And Painful Route To YouTube Monetization
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Screenshot: One of my niche site YouTube Channels (not yet monetized).
Before you even earn a cent, you need 1,000 subscribers and 4,000 public watch hours.
And, when you eventually do get monetized...
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Screenshot: One of my monetized YouTube channels.
Of course, everyone's results will be different. But $20 and 2,500 views are not metrics to write home about. Especially for the effort you’ve put into it.
On the other hand, if you start incorporating video into your site's content strategy:
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Screenshot: Humix Earnings from the same niche site not yet monetized on YouTube.
Your existing visitors will be much more likely to watch your videos, boosting those views, time on page, and monetization potential right away. As you can see from the screenshot above, not utilizing video would be leaving money on the table.
Video Content Growth Hacking
If you are a fan of growth hacking, like me, the idea of easily creating videos with the help of AI and monetizing them immediately is really appealing.
You already have the targeted traffic coming to your site, so diversifying your revenue with video is almost effortless.
"Almost", because the major part is done for you; you've got the eyeballs. But you still need to create and add engaging and relevant videos to your page for those eyeballs.
Taking your top-performing articles and converting them to video is by far the easiest and fastest way to increase your revenue.
The data already shows that people find your content useful so getting them to stay on the page for longer, watching a strategically placed video, is a smart and resourceful move.