11 Mar How to Monetize Viral Videos
In the last five years, video has swiftly taken over Facebook as the preferred type of content being viewed. This has turned the social network into a video hub with billions of views every day.
There were over 9.1 million videos uploaded directly to Facebook in January 2016 alone – generating 212 billion views for about 1.7 million video creators.
When a video goes viral on Facebook, it gains millions of views and is heavily shared on Facebook and other social sites.
Today’s Viral Videos
Nonprofit organization, UNICEF – A Storybook Wedding?
The Buzz: 11 Million Views. 226K Shares. 85K Reactions. 350K Comments
This video raises awareness about the world’s child marriage issues. It includes a call to action asking viewers to share the video to spread awareness of the pressing issue, but it does not include a donate button or donation option for viewers to give to UNICEF’s cause.
Musical Group, Us The Duo – Top Hits of 2015 in 3.5 Minutes
The Buzz: 7.3 Million Views. 320K Reactions. 174K Shares. 18K Comments
This is a performance by the popular musical group Us The Duo. After their performance, the video concludes with an indistinct call to action by displaying their website URL.
UNICEF and Us the Duo have missed out on an opportunity to monetize their video through donations and product purchases.
How to Monetize Viral Facebook Videos with Video Checkout
Using Video Checkout technology, both UNICEF and Us The Duo could increase revenue by engaging their audiences on Facebook.
How can Us The Duo use Video Checkout? – The singing group could have monetized their video by making it shoppable. This would enable viewers to purchase band merchandise directly in Facebook using Video Checkout.
How can UNICEF use Video Checkout? – If UNICEF had used Video Checkout for Facebook, a drop down donation menu could have been embedded in the video, allowing viewers to donate directly to its cause. Because the video only provides a link that sends a viewer to UNICEF’s website, the organization will have a much lower conversion rate compared to if Video Checkout had been used.
Nonprofit social movements have a history of going viral. For example, we can take a look at The ALS Ice Bucket Challenge. This movement sparked engagement on Facebook. Within weeks, the organization raised $100 million.
But imagine if The ALS Association had used Video Checkout?
Video Checkout increases conversion rates up to 5 times because it does not send engaged viewers to a third-party website to make a donation. If every person involved in the ice bucket challenge had the opportunity to make their donation without leaving their Facebook news feed, the movement could have potentially raised up to $500 million.
Social networks are working on allowing members to make purchases directly on their news feeds, but they have not yet come up with the technology. Video Checkout is the first in-app tool that allows users to make direct purchases, helping businesses and nonprofits easily monetize their videos and increase their revenues.