As the country’s population becomes more and more accustomed to using the Internet, the online learning industry will reach new heights. According to a report by Business Wire, the online education market in India, which amounted to 39 billion rupees in 2018, could reach 360.3 billion rupees by 2024, with a robust CAGR of 43, 85%.
Online learning has brought such elements as flexibility, convenience and efficiency which is why it has become so popular so quickly.
Nowadays, if you have a deep knowledge of a particular topic and have basic technical skills, you can make a career in teaching online by monetizing your content. There are so many ways to present your content online that you can enrich your students’ learning experience just by using the resources at your disposal.
From PowerPoint presentations to video lectures and audio recordings to visual illustrations, there are many ways to explain a concept, and you can choose any or all of them, depending on your students’ needs. Now let’s talk about the different content monetization models.
1. Video on demand ad-supported (AVOD)
It is one of the most basic monetization models. In this model, your videos are technically free for your viewers, but they pay you indirectly by viewing advertisements.
YouTube would be an example of an AVOD platform. The more people who view your ads, the more income you will earn.
However, there is a fundamental flaw in this model, it ignores ad blockers. Over the past couple of years ad blockers have become very popular among people and can seriously affect your ad revenue. Therefore, you should use AVOD in tandem with other models.
2. Monetization via subscription
A subscription-based business model is one of the models for content monetization. If your viewers like your content, they can subscribe to your website or content portal by paying a monthly or annual subscription fee.
This would give them access to your content library so that they can learn whatever they want, in a structured and organized way.
Since you can count on a number of subscribers, you can predict your monthly income as a content creator to some extent. This model also encourages creators to deliver better content to retain existing subscribers and gain new ones. Therefore, a win-win situation for all!
3. PPV (Pay-per-view)
The Pay-per-view model allows users to access specific content (video, audio, ppt, pdf, etc.) by paying a one-time fee.
This model is transactional and works well for users who want to use the services of a creator sparingly. As a creator, you can bill in different ways, depending on the type of product or service used and the time spent using it.
4. Premium membership
Premium membership gives special privileges to users, such as unlimited access to exclusive content and big discounts as well as VIP benefits. The premium subscription can usually be used for a certain period of time (for example, a month) by paying a one-time fee.
The idea is to make your users addicted to the content, which would motivate them to renew their subscription and promote your product to other potential viewers also through word of mouth.
5. Affiliate Marketing
This is a monetization model that you can implement once your content platform has started receiving regular traffic. Usually, professional organizations related to your area of expertise will contact you and ask you to do a sponsored segment during your video conference.
You would also include a link to redirect viewers to the partner website. While you don’t receive money directly from users, the organization you partnered with will sponsor you.
As the world increasingly depends on digital technology for learning, content monetization will help many educators (academic / non-academic) earn a decent income by monetizing their content.
– Article by Nishant Agarwal, Founder, Proctur.com
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