When it comes to accessing news, breaking trends and information in an instant, it doesn’t get better than surfing the World Wide Web.
Paying for content
If you want to find out what’s making the headlines, chances are you’ll visit the Huffington Post or BBC news online; if you want to check out who’s topping the alternative music charts, you might find yourself checking out the NME website or if you want to sit down and watch a hot off press TV box set, you’ll probably fire up Amazon Prime or Netflix.
Once upon a time, accessing content was free, but since the introduction of paywalls, more and more online content providers are asking consumers to pay for their services. And consumers are increasingly willing to pay for premium content, especially if its an exclusive, live and/or niche.
A big player who has recently opted to monetise their content by utilising the paywall is Time Inc; having erected a paywall for Entertainment Weekly Time has explained is the first of more to come for its signature titles.
But this rise in the use of paywalls isn’t necessarily a bad thing; as this type of revenue strategy is increasing in popularity, content providers are using savvy ways to make it work for them – and so can you. Paywalls have proved that they can be a sustainable business model for publishers providing quality content.
Tips for video publishers
Paywalls are popping up everywhere and consumers are getting on board. To help make the paywall become an effective part of your video content strategy, here are a few measures the you can take:
- Give your consumers options. No one likes to be press ganged or told what to do, so by offering visitors a tiered membership plan (e.g. bronze, silver and gold) to access their favorite videos via your site, you will appeal to different budgets and levels of dedication, therefore, helping you to avoid alienating your target audience;
- Use registration data to your advantage. For those who aren’t keen on signing up for a paid membership, asking them to register is a priceless way of gathering vital information. By asking them to indicate which areas of video content they’re interested in, you can gather data and use it to target them with ads based on their interests;
- Offer an introductory trial. Allow your users to get a taste of the captivating video content by offering no strings trials, or a certain amount of complimentary views. This is the perfect way to point your best content at the right people and build trust, which in turn, will make the prospect of your video content much more enticing.
Paywalls do carry a certain amount of negative baggage for end consumers, but they can also be very effective. The bottom line is, people will pay to watch unique, engaging or eye catching content, and if that’s what you’re producing, you have nothing to worry about.
If you’d like to find out more about how Cleeng can help you effectively monetise your online video, content, feel free to drop us a line so we can help.
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