Zoom became very popular during the lockdown. Today, top consultants and experts in diverse fields see the app as a very good source of income. There is a lot you need to know on how to make money with a zoom app, and this zoom review details everything.
The app is a cloud-based conferencing tool that provides users with interactive features in the form of chat, video, and audio from wherever they are individually located. The digital product provides high-quality video/audio output features and is very easy to use.
BRIEF HISTORY OF ZOOM APP
Zoom was created by Eric Yuan – a former executive at Cisco WebEx – in 2011. The product is sort of superior to many of its kind. It isn’t too technical or difficult to use in any way. And during the lockdown, when business was compelled to sustain their relevance by working from home, Zoom metamorphosed into a global phenomenon.
The Zoom Video Communications, Inc. (Zoom) is headquartered in San Jose, California. It harnesses its cloud-based peer-to-peer software platform to offer prospective users online chat services and videotelephony.
Users can make use of the app to conduct webinars, conferences, meetings, workshops, distance education, social relations, and so on. Hence, business professionals are finding ease of doing things through the cost-effective, flexible, and simple one-to-one or peer-to-peer communication mode it offers. Several others use this app to supplement their regular income.
Zoom permits free use for up to 40 minutes and a video conference of up to 100 participants. If you want larger or longer conference features, you’ll have to unlock them with paid subscriptions. The paid version for this ranges between $15 to $20 per month. But if you need more business conferencing features such as Zoom rooms, you’ll pay between $50 to $100 a month.
PROS AND CONS OF THE ZOOM APP
Every tool, no matter how useful they may appear, often have their demerits. So, for Zoom, here are the advantages and disadvantages to help guide your decisions.
Pros Of Zoom
- Zoom makes it easy for you to do your videos without experiencing buffering. You can make automatic adjustments and will clearly hear participants in meetings.
- Experts can leverage on the app to host a paid webinar to make money.
- It allows parties with a common ideology to maintain quality interaction without having poor experience of the platform.
- Zoom allows users to schedule events, export it to the calendar for reminders and also invite guests.
- Screen sharing feature is very advantageous to educators who do not necessarily have to rely on the four walls of a classroom. They will also be able to teach students from anywhere in the world.
Cons Of Zoom
- Zoom has no white board.
- Users on the free plan have constantly expressed dissatisfaction with the 40-minutes limit.
- The mobile app is not as satisfactory as the website platform.
ZOOM BUSINESS MODEL: HOW DO THEY MAKE MONEY?
They company generates income from their four-tier paid subscriptions. There is the Basic plan which is absolutely free. It allows 100 participants, a limit of 40 minutes, and unlimited for one on one meeting. No credit card will be required before you can use the free plan.
The Pro plan costs $149.90 per year or $14.99/£11.99 per month for each host. you can take up to 100 participants as well on Zoom pro with group meeting not more than 30 hours. It makes admin feature and user management controls available, Social Media Streaming, M4A cloud recording or 1GB of MP4, and custom personal meeting IDs. Meanwhile, you can purchase up to 9 licenses per account on Zoom Pro version.
Business plan is the third. It is basically for small and medium businesses and costs $199 a year or $19.99/£15.99 per month for each host, and it can allow up to 300 participants and Group meetings for up to 30 hours. It provides users with an admin dashboard, company branding, dedicated phone support, a vanity URL, custom emails, and the option for on-premise deployment. Host can pay for more licences at a time which must be at least 10 licenses for $1,999/year.
Enterprise plan is the most expensive of the four. It costs $199 annually, and includes features such as unlimited calling within Global select, all Zoom United Pro phone features, unlimited cloud storage, and optional add-ons. It is majorly meant for businesses that have over a thousand employees. Starting at 50 licenses for $9,995/year.
The company generated a revenue of $330.5 million for the 2019 fiscal year. This is about 118% up from the 2018 record of $151.5.
In a report published by Globenewswire, Eric Yuan stated while announcing the financial results for the third fiscal quarter ending 31st October, 2020 that the increasingly high demand and execution of the digital product resulted in a growth in revenue of 367% year-over-year. He also projected a stronger market position for the fiscal year 2021 with a revenue increase of approximately $2.575 billion to $2.580 billion.
HOW DOES ZOOM WORK?
Zoom works nicely on desktop and mobile devices. The desktop app works on macOS and Windows while the mobile app functions well on iOS and Android. You will be able to join meetings through all the apps without necessarily signing in.
Aside your Zoom account, you can also sign in with Facebook, Google, or SSO. The one-to-one chat sessions aided on the platform can grow into training sessions, group calls, and webinars for different kinds of audiences with up to 49 on-screen videos and a thousand participants.
There are features that allow you to join a meeting, start a meeting, mute/unmute your mic, share your screen in a Zoom Room, invite participants, begin cloud recording, change screen name, start/stop video, and do in-meeting chat. The desktop app however has more features than the mobile counterpart.
HOW DO I HOST A VIDEO MEETING ON ZOOM
- Go to the Zoom website, zoom.us to host a video meeting on zoom.
- Select the “Host” tab displayed on the top right-hand corner.
- Create an account or Sign in using your login information. You can also use your google account or facebook to sign in easily.
- Go to your app store to download and install the app.
- Log in to your Zoom dashboard using your login details that you have created, or with Facebook, Gmail or Login with SSO.
- Tap the downward arrow and click on ‘Start with video’ and then click ‘New meeting’.
- Launch the zoom app, open, and send out meeting details which includes meeting ID and/or link. You have successfully created a meeting.
HOW TO JOIN A ZOOM MEETING
- To join a zoom meeting, go to the Zoom website.
- Click ‘Join’, it is located at the top right corner of the homepage. After being prompted, add your designated Meeting ID it could be up to 11 digits. But this can only be provided by the host.
- Click ‘Join’, then, you’re in!
- If you have downloaded the Zoom app, you could launch the mobile and click ‘Join a meeting’. Enter your meeting ID and your display name to connect.
HOW TO START A ZOOM MEETING AND INVITE PARTICIPANTS
- Go to the Zoom website by visiting www.zoom.us.
- Login using your login details to access your dashboard.
- Go to “my account” and click on it. A new page will appear showing your profile page.
- Click the arrow below the standard bar and click “schedule a meeting” or select the “Host” tab displayed on the top right-hand corner. Follow prompts.
- Launch the app, and send out meeting details which includes meeting ID and/or link. You have successfully created a zom meeting.
- If you have not yet downloaded zoom app, go to your app store.
Zoom has provided features that can help users share their screen. For you to do this, simply click “Share Screen” at the bottom of the window.
This feature can only work with a participant at a time. For someone else to share the screen, the person actively sharing must “Stop Sharing.”
There are four-tier pricing plans offered by the platform which have been earlier stated. However, the pricing tiers doesn’t include Zoom Room subscription. You can opt for the free 30-day trial to set up Zoom Rooms and you’ll thereafter be charged a monthly fee of $49/£39.
HOW TO MAKE MONEY WITH ZOOM APP
Zoom offers easier and faster ways to make money than any other video application you’ll find. There are leading ways the app is being harnessed to make money. As an entrepreneur, a professional or an expert in certain industries, you can earn money with the Zoom app through the following ways:
- Personal consulting
- Paid workshop
- Host webinars
- Web-based seminars
1. Personal Consulting
You are expected to have been a consultant and must have been actively featuring in your field beforehand. And with Zoom, you can harness the paid webinar to schedule meetings with your clients or prospects. Integrate your PayPal account and receive a registration link which you’ll forward to your audience. Your audience will be required to pay a fee to get access to your webinar.
2. Paid Workshop
Having a paid workshop is another easy way you can earn on the platform. You can schedule an online workshop which could be in the form of a course that is created in digital form to offer a step-by-step guide on how to complete a given task in your area of specialization. It could be images, videos, texts, and infographics.
3. Host Paid Webinars
This is more or less the easiest way to make money on a zoom app. Set up a webinar to sell any service you render or products you have.
You could be an expert in driving huge traffic to websites. Host a webinar on zoom to share your skills or story and how you can attain massive results within a stipulated period of time.
Provide very useful advice to your audience and close it with an offer to unlock the full package of what they desperately want. You are sure to get a good result once the steps are rightly taken.
4. Web-based Seminars
Having web-based seminars is another way to make money on the zoom app. You can consider creating a seminar on the changes on information/policy on the recent development concerning future strategies.
People will be willing to pay to get such information from you if they get it in real-time mode.
HOW TO HOST A CLASS ON onZOOM
Zoom recently created a separate platform for online hosted events and it’s called OnZoom. OnZoom was announced on 14th October, 2020, and it was created to help users monetize their events and also discover events they are interested in. Their blog states that the newly created platform will help creators and business persons host a variety of events, promote their events via email and social media, and also list and sell tickets.
However, for you to host a paid class on the platform, you must make use of the paid features provided. So, you’ll must either subscribe for the Pro plan, Business, Enterprise, or Education plan at $1800 per year for 20 hosts.
You could also get the approval of owner of any of the accounts and be a regular Zoom user. You may also consider applying to become an official Host through Zoom. Zoom will either choose to approve this or place you on a waiting list to be reevaluated in future. After getting in, you’ll be provided with settings to put up a paid or free Event Card and promote your class via social media.
HOW TO DOWNLOAD ZOOM APP
Zoom has a dedicated download centre where you can get the zoom app or ad-ons for even greater experience. It is available to use across major platforms including linus, windows, macOS, android and ios.
To download the zoom app, simply visit zoom download center at zoom.us/download. You can also visit the app store to get the zoom app. It is one of the most downloaded apps on the store, it should not be that difficult to locate.
You can also use zoom through the web browser installed on your PC. However, the web has limited features. If you wish to take advantage of all that zoom offers, you should consider installing a zoom application. Zoom can work on Internet Explorer, Firefox, Chrome, Safari, Microsoft edge, etc.