If you are thinking about going online and offering your expertise through videos, go for it! But, how exactly to monetize your workout videos?
In research conducted by Wyzowl, 78% of video marketers say video has directly helped increase sales.
The coronavirus pandemic accelerated people’s online presence who seem to like video content the most. To be exact, 69% of research participants said they’d prefer to watch a short video, compared to 18% who’d rather read a text-based article, website, or post.
There are a few video monetization models that you can use across many different platforms, depending on your target audience, your fitness niche, and your preferences.
Different ways to monetize your workout videos
There are a few monetization models:
- Advertising-based video on demand (AVOD) – you earn money by showing ads before and during your video content.
- Transactional video on demand (TVOD) – pay-per-view model. Clients buy access to a video for a limited time.
- Subscription video on demand (SVOD) – clients pay a subscription to access your content.
Youtube and DailyMotion work with AVOD, but to really earn money on these platforms, you need to work a lot on your online presence, because you will probably get $5 for 1,000 views.
That doesn’t mean you can’t earn a nice amount, it just means that your video content needs to be popular and viewed often.
TVOD could be a great option for some live events you are organizing (like a fitness challenge) or a one-time workout session.
But, SVOD is quite convenient and it is becoming the most favorite way to charge your clients. With this type of video content monetization, you can scale your business and generate a steady income.
Maybe the most famous SVOD model platform is Netflix – it has the same content for (almost) everyone, and it’s affordable, easily accessible, and fun.
Why subscriptions work
You need clients that will show up month after month, so offering monthly subscriptions seems like the most convenient way to monetize your workout videos.
You might be wondering why would anyone pay for a subscription when they can find so many free workout videos everywhere.
Well, the answer is the huge amount of free content that people need to go through to find what suits them best. And the truth is that a lot of free content isn’t great or it doesn’t offer a solution for a longer period of time.
You know that people need time and a structured fitness program to reach their fitness goals and maintain them successfully. The clients are aware that a well-formed fitness program has a cost and they are willing to pay to feel healthy.
Around three-quarters of both the Millennials and Gen Z say they are interested in curated subscriptions to products or services, research showed.
People want quality content on-demand and they are willing to pay for it. Especially if that’s fitness content.
You must have met clients who tried to workout at home together with some free videos. They were motivated for a month tops and then just stopped working out.
Why? Because they didn’t invest anything into working out, so they didn’t feel accountable.
Which fitness platform to choose?
Start by analyzing those platforms that your potential clients already use.
Ask yourself a few questions:
- How does that platform work?
- How can I monetize content on it?
- How often should I post to stay relevant?
- How much competition is there on the platform?
- How can I reach my future clients on that platform?
Some platforms look great, like Instagram, but you can’t charge your clients to watch your content there.
If you choose to use some of the existing platforms, make sure to know exactly how it works. You don’t want to spend months or even years investing yourself in the wrong place.
If you want to work on your own terms, you can make your own platform.
Making a custom branded fitness app
We live in a very modern era, so making your own app doesn’t have to scare you.
The truth is, your app is already made. You only need to brand it with your content and personality!
Try to find a white-label solution for your fitness app that just needs branding while adjusting the app features to your business needs.
You can try out the one Lean On Digital offers. That solution gives you enough freedom to organize your content how you want it. You can:
- Create different fitness plans according to clients preferences
- Get your clients to rate and review your workouts
- Make explainer videos with clear instructions
- Add data to every video, like duration, target area, difficulty level
- Write blog posts
- Organize meal plans
- Organize challenges
- Track progress
- Get insight into valuable performance data, monitor sales, identify best practices and generate reports
Of course, you can price your app how much you want without worrying about constant algorithm changes popular platforms often make.
How to set pricing packages
With a fitness app, you can offer different types of content:
- Workout plans
- 1 on 1 private video sessions
- Meal plans
- Progress tracking, etc.
You can create different pricing packages that will include a certain number of your app features.
If you are wondering what prices to put, do competition research. You can even pay some monthly subscriptions to find out what exactly your competitors offer.
That way, you’ll find out the price range in your fitness niche, so you can more easily decide what price to put on your fitness services.
How to reach your future fitness clients
Oh, this is a very broad topic.
It all depends on where your audience is at.
If you decide to make workout videos as an online class on Skillshare, Udemy, or Uscreen, then you should check out how these platforms work and how you can promote your class there.
If you decided to make your branded fitness app, then you’ll need to work on App Store Optimization (ASO).
You should make a budget for paid advertisements and implement social media strategy into your fitness app promotion plan.
Make a short explainer video of what kind of workouts you offer, even include some of the workouts, so your potential clients can get a glimpse of what they can expect.
Read more about how to promote your fitness app on our blog.
On-demand videos are the present and the future of the fitness business, so you need to set your online studio fast.
But, don’t rush with going online.
Carefully research your options, and start the research by defining your ideal customer persona.
There are many options, but many will fall off as soon as you define your target group and the way to monetize your workout videos.
And that means that you’re on the right track, so just keep on researching and you’ll get to the best option for you quite quickly!