Wix Video Monetizes Small Biz Videos

Tuesday May 2nd 2017 by Pedro Hernandez
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Wix.com's new video streaming and hosting service adds a new way of driving engagement and earning cash from online videos.

Wix.com, the popular do-it-yourself website builder, has added a new service that not only makes it trivially easy to add video to Wix-hosted sites, but also potentially earn some money from them.

The company recently launched Wix Video, a video streaming and hosting service available on the platform's app marketplace, which enables customers to manage their video content, whether it's held on Wix's own servers or on third-party providers, namely YouTube, Vimeo and Facebook. The free Basic package provides the bulk of available functionality, while the paid Premium version adds extra storage and ecommerce capabilities for $9 per month.

Why should small business owners even bother with online video? According to Danielle Raiz, head of Wix Video at Wix.com, there are few things that can captivate and delight online like video. "Video is one of the most powerful and engaging tools today to tell your story and grow your business," Raiz told Small Business Computing.

And she has the data to back up her assertions.

Recent studies have found that visitors spend an extra two minutes on websites featuring video content compared to sites that don't, plus the chances of getting a page to show up on the coveted first page of Google search results increases 53 times with video.

Video can also help boost sales. Web users are 64 percent to 85 percent more likely to purchase a product online if they view a video of it first.

Wix Puts Online Videos to Work

Wix Video provides users with the tools to control their video content and customize how it appears on their websites. In essence, online videos are no longer an afterthought or awkwardly wedged into a webpage.

Instead, videos become an integral part of the experience for visitors. Users can fully control design and layout of their video content, ensuring that it properly reflects their brand. "Our creators are very excited to have complete control over their video content," Raiz said.

Now, shop owners can include videos of their wares in action and professional services providers can show off their expertise. If there's a compelling story behind a company's founding, it can now be used to connect with potential customers.

For users whose stock-in-trade is video content, the services offers them new ways to monetize their creations.

"Wix Video enables you to sell your creations straight on your website," the company announced in a blog post. "Filmmakers can choose between selling video subscriptions for full access to your site’s content access, a temporary pass for 24, 48 or 72 hour viewings of your content, or a monthly subscription for the videos on your site."

For example, Yoga instructors can now take things a step further than enabling their customers to book classes online, Raiz said. Now, they can also sell yoga videos. Essentially, video can serve as an "additional revenue stream to what you're already doing," she added.

Users need only upload a video to Wix, settle on a price and set the currency. Each time a visitor purchases a video, the service sends a notification email and the funds are deposited into a PayPal account.

What's more, Wix Video is "100 percent commission free," meaning that the company doesn't take a cut from the revenue generated by videos on the service, said Raiz. Nor does the service contain hidden fees or foist unwanted ads on viewers.

To ensure that videos are delivered in pixel-perfect clarity, Wix employs adaptive streaming technology that helps video content look its best on internet connections of varying quality. Finally, users can track how their videos are performing by digging into statistics like views, revenue and social shares.

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