New female entrepreneurs can leverage Video-on-demand
As the female labor force unemployment rate rose. Hence women entrepreneurship became the most viable option for employment. Nearly 40% of women started new businesses during Covid. They did so due to the pandemic. So basically, the rest of the 60% of employers plan to rely on contingent hires this year.
However, many female entrepreneurs (or contingent hires) recently transitioned to the gig economy. But many are familiar with leveraging a subscription-based model to increase traffic. Also, influence buying decisions, and grow revenue.
P.J. Taei is the founder of Uscreen. This is a leading video-on-demand, over-the-top media, and live streaming platform. Taei has worked directly with large brands such as SoulCycle, the BBC, and NBC Sports.
As a matter of fact, Taei has helped them build their video monetization strategy. Below he offers advice for how new female entrepreneurs can leverage subscription video-on-demand.
Increase of professionals entering the gig economy
Some chose to have a side gig, while others decided to make it their primary revenue source. Either way, videos played a big part in their success.
Some important things for new female entrepreneurs to consider
An entrepreneur needs to establish the purpose of their video content. Besides, it can range from brand awareness to an actual revenue stream. So, it’s important to build a complete customer profile. And make sure the audience and their needs in mind.
Scale down their subscription-based models
Currently, paying for a subscription to learn, get fit, motivated, entertained has been normalized. Eventually, it’s creating the most fertile ground for businesses of all sizes. To tap into this rapidly expanding market with no cap in sight.
Effectively leveraging a subscription
Video-on-demand, combined with a monetization option like a subscription or one-time sale of videos, is the next generation of e-commerce.
“I know of many powerful women who took charge and dominated this new normal.”
How important is it to adopt a video marketing strategy?
Video is becoming the norm in business. Hence if you’re not implementing it, eventually, you’ll fall behind your competition. When done right, videos generally have high returns and generate considerable revenue for your business or brand.
“As a small business owner, it’s important to maximize your time. Pick a platform that gives you everything you need in one place. And take your service to market. And lastly, the most important thing is to start. Don’t obsess over details. Get your camera out and start filming.”