Why YouTube Shorts could dominate the creator economy in 2023.
WHILE ONLINE VIDEO continues to trend toward shorter content, YouTube is investing heavily in its YouTube Shorts feature attempting to be the platform of choice for creators. Short, entertaining and educational videos (often paired with catchy music clips) have become a popular and effective way for direct sellers to build their business in the larger creator economy.
“If there’s a single type of content that is now officially king, it’s mobile-friendly short-form video,” a Forbes article claimed.
YouTube Shorts are 15 to 60 seconds in a vertical format, similar to TikTok, Instagram Reels and Pinterest Idea Pins. While longer-form videos are the platform’s bread and butter, Shorts will become a huge focus in 2023. YouTube announced in late 2022 that Shorts will become part of the Partner Program with creators earning 45 percent of ad revenue from their videos. For context, YouTube has paid out $30 billion in ad revenue over the last three years. By comparison, TikTok pays creators through its Creator Fund, which the platform plans to grow to $1 billion in the U.S. by 2025.
“From its massive reach to its ability to cross-promote content to its unique creator revenue model, YouTube Shorts has a lot to offer brands and creators—whether you’re looking to convert viewers into subscribers or browsers into buyers,” Forbes said.
Monetizing 30-second videos in YouTube’s ad program can be difficult. Where do you insert an ad within 30 seconds of content? But the platform is also improving shoppable ad experiences that could be coming to Shorts in the future. This improved experience and opportunity for creators could have them flocking to YouTube as the platform of choice for short-form video. They can also leverage longer videos on the platform, using Shorts as an introduction or teaser leading to more entertaining and educational content.
3 Ways to Boost Your Marketing in 2023 with YouTube Shorts
1/ Expand Your Reach with a Massive Built-In Audience
YouTube has nearly 2.6 billion monthly active users with a $100 million investment in original creator content. Connect with users in the app, on the YouTube homepage, in their notifications, in their subscriptions and more.
2/ Engage Audiences in Creative New Ways
Popular personalities can review and recommend your products and brand. Effective content includes how-to tutorials, unboxing videos, health hacks, entertaining lifestyle content and leveraging audio/music and video trends. Point viewers to longer-form videos to cement the relationship.
3/ Partner with Inspired, Rewarded Creators
Creators may come for the YouTube Shorts ad revenue, but they stay for other revenue streams such as subscriptions and affiliate product opportunities. Creators want to partner with brands they believe in and are confident sharing with their followers.
From the March 2023 issue of Direct Selling News magazine.