The ease and far-reaching use of the internet has allowed millions of people to live with virtually every ability, talent or opportunity. The modern era has ushered in an age of click-of-the-button world where everything is available at your fingertips.
The financial potential and implications of it are massive too and it would be foolish not to ride the wave.
However, as with any monetary undertaking, many misunderstandings involve certain strategies. As the old saying goes, failing to plan is equivalent to planning to fail.
Making money from YouTube
If the main interest is especially about making money from home through different types of blogs or vlogs, you will generally find that platform’s name that is always on top is YouTube. Even though with YouTube you can certainly make money, it is typically not done in the way that is in tune with the other existent typical ways, irrespective of what you have heard from the others.
It requires a lot more effort and improvisation to develop a more viable method to make money from YouTube. Mind you, if you crack the code and figure out a potent way to do it, you have no idea how far you can reach with it, especially on the financial grounds.
The main thing that rules the World Wide Web in the current scenario is content. It has become a common saying these days that content is king and it is actually true. Web creators now have access to various ways to make money from their content.
That may include corporate sponsorships from a big company, fan support, or product sales in addition to advertisement. The opportunities and options are many, it is just a question of how you are able to utilize it for your own benefits.
Ways to Make Money from YouTube
1. Enroll for YouTube paid partnership program.
Partnerships are certainly one of the best methods to make yourself visible in this platform. Over here, it is actually in tune with most other business organizations that work the traditional way as partnerships play a big role there too. You need to collaborate with the platform to earn directly through YouTube.
When you do, the big question is what criteria you must satisfy in order to become eligible for this:
● You need to be following the guidelines laid down by Youtube with respect to this collaboration and your content should hit 4000 hours of viewing in a period of 12 months
● You need to live in a place that is recognized by YouTube.
● You should have more than 1000 people subscribed to you.
● The Google AdSense account needs to be connected to.
Linking the Google Adsense Account:
To link your Google Adsense account to YouTube follow these simple ways:
● Firstly, allow the Adsense account to become eligible for monetization.
● You can now obtain the page of the AdSense Association, click on the “next” step to enter Adsense.
● Scroll on to “How do I get paid? ” section.
● Go the “next” step again from the AdSense Association page and you will be redirected to the appropriate platform.
● Select the option to choose the Google Account of your choice that will be used for the purpose.
The more videos you have, the more easily you can reach the required viewing time.. High-quality engaging videos can get views, so proper and appropriate planning and preparation along with apt production are going to be very important here.
Once you fulfil the criteria, you can become eligible for the “monetization”, which is the real deal here.
As a partner, advertising is a major way that you can make money with. Subscription benefits and apps like Super Chat, which allows viewers to pay to highlight their messages in a live stream are other sources that have a lot of credibility as well.
Ways to set up YouTube monetization:
● Sign up for your YouTube account which you want to be monetized.
● Go to the top right corner and access your icon by clicking the button.
● Choose YouTube Studio.
● Move to Other Features > Monetization present in the Left Menu.
● Read and agree to the YouTuber Partner Program terms which is equivalent to signing any contracts with them.
● Connect to your already existing Adsense account, the creation of which has been mentioned earlier. If you do not have one, you can create one.
● Choose your preferences for the monetization of your account.
After that, return to the dashboard and go to the Analytics tab on the left side. Pick revenue from the tabs on the top of the table and then scroll down to the Monthly estimated income chart. You will get an idea of how much you can make from YouTube collaboration.
The pricing module is something that you need to look into properly. Choose the default currency of your country to be paid according to that.
2. Become a YouTube Star.
You must have heard about YouTube stars. There is no denying the fact that almost everyone has, such has become their fame and popularity. YouTube stars can earn a huge amount of money.
PewdiePie remains number 1 among the highest paying YouTube stars for 15 million dollars in 2016, despite losing large advertising recently.
It was projected that for a week of publications he earns over $13,000. Being unorthodox and interesting is the key here. Develop content that can be engaging to other viewers and are also relevant. You might be the next to hit the jackpot as a YouTube star.
3. YouTube Premium can Be Good Option
If you do not want to resort to Adsense only to make money on Youtube, you have other options as well . The YouTube Premium, an ad-free subscription service, is also the ideal solution to make videos available.
Based on the amount of your videos, you will earn part of the membership fee revenue.
YouTube Premium is paid to creators based on how many members watch their content. In addition to what you receive from advertising, find revenue received from YouTube Premium as a secondary source of revenue.
4. Try video sponsorship and influencers marketing.
There is another scope of making good money on YouTube using someone else’s money. Yes, you read that right. There are some businesses who are interested in the audience of your channel and they can sponsor your videos or provide you with paid advertising deals in return for a shoutout.
They want to create a base among your audience so that they can gain some potential customers from it.
Payments are likely to be charged per sale or at commission rates. ShareASale, ClickBank and CJ Affiliate are some of the good options that are available in this respect. Do not forget to notify YouTube by ticking the “Video contains paid promotions” if you have a service or product placement in the video.
It is always better to stay true to your audience though. Do not advertise any products that you are not comfortable with.
You can also become a YouTube influencer if you have a large number of followers per se. Here are just a few of the many marketplaces for influencers, to which you can add the channel and discover big and small brands:
● Grapevine Logic: You just need 1000 followers to gain access to this market..
● Famebit: You may find a sponsoring opportunity to be proud of with a wide range of brands you have to work with. You must have 5000 subscribers to do so.
● Channel pages: Collaborate and join hands with other famous YouTubers.
● Crowdtap: Complete “tasks” to create small content for money and other incentives. There is no restriction on the number of followers you need to be a part of this.
Choose the options that suit your needs and list yourself in as many places as possible to ensure your channel has maximum visibility. You can also take a commission for every sale that you make through your channel on the YouTube platform. The idea here is to be paid for every sale that you make.
Since there is no loss for the brands as such as their products are the ones that will get benefited, they will be more than happy to partner up with you in this respect. Click Bank (1 to 75% fee, depending on the seller’ s settings) and Amazon’s Affiliate network are common affiliate programs (make up to 10% per sale).
5. Sell Products or Services on YouTube
If you feel that you have a dedicated audience who trust you, you can even start selling your own products or services on YouTube. Providing links on the video is one way to do so. If it is not a physical product per se, you can even sell e-books and online content that can be really useful for others.
However, it is important that you have a secure payment system in place so that you are not duped financially.
- You can set up an e-shop, then produce videos which fit into the focus of your business.
- At the end of the videos, calculated CTAs can be generated that will transmit the traffic to the pages of your website.
It obviously is much more than that, but this is what the conversion funnel looks like for all reasons and objectives. This funnel works almost every time you have a good product and your videos are clear and attractive.
The importance of having important and relevant content that appeals to your audience cannot be stressed enough here. The more views you have, more is the conversion, the logic is very simple in this aspect.
6. Meet your viewers physically or live speak with them.
There is another provision that is available thanks to the platform that YouTube sets for you. Technically speaking, you will only know your audience in the virtual world if you are stuck on the Internet for too long.
The value of meeting them personally and interacting with them can be refreshing as well as befitting in many ways. The good news, youtube organizes such events from time to time where they allow YouTubers to meet with their viewers.
This kind of interaction can be very beneficial and your audience and subscriber numbers definitely rise using this agenda. Utilize your public image for YouTube and attract speech engagements live. When you have a YouTube channel focused on a specific market or public, study annual conferences or other business events with keynote speakers.
The contributions to live speech can be quite beneficial. You can make a lot of money using this opportunity and also ensure that your dedicated audience gain something about it by talking to them personally.
7. Become an Amazon Influencer.
When it comes to the proper use of influencers to advertise products, Amazon is definitely the big deal in this market. You can maximize your YouTube presence or any social media platform with this influencer program by making money using Amazon’s recommendations.
Once you link up with this multi-billion dollar industry, you can use the platform to promote and sell their products. It typically works on the commission basis as well. However, their rates are pretty high and it can be somewhere ranging between 8% to 10%.
Not everyone is eligible to be a part of this Amazon affiliate program though. You really need to have a large audience on your social media platform and Youtube in order to partner up with them. Once you do, there is no looking back though.
8. Using YouTube to get the traffic to your blog and website.
If you have a revenue-inducing website or blog, you need traffic. Google’s updates to Panda, Penguin, and Hummingbird have hard-hit other websites. If that happened to you, then you are affected. The biggest parameter of having any successful website is dependant on the number of people visiting it on a regular basis.
The agenda being most advertising and marketing strategy concentrates on this aspect alone. Not only can you use YouTube to regain traffic but you can also increase it.
Get the Creator Playbook started. Taking up old content of yours and then modifying and reposting it is a potent method. You can also make new content. Do not forget to provide the link of your website either in the video itself or the description so that your audience can check it out at their own leisure.
The number of people who can be redirected by this method is definitely going to be significant.
9. Create a Web TV series.
Love to story telling? YouTube lets you create your own shows on Web TV. The only thing that is restricting and limiting you here is proper budgeting and production of it. If you can take care of that part, you are good to go.
The number of options you have in this aspect is simply outstanding. You can make a comedy show, a news show or even host a talk show with influential people. You wll know what suits you in the best possible manner. There is one catch though. The YouTube videos are restricted to be 15 minutes long generally.
In case you want to increase that, you can take the appropriate steps to gain permission from YouTube.
If you are someone who always wanted to do this but could not make your mark using the conventional method due to a number of reasons, YouTube can give you another opportunity to have a crack at it. Who knows, your real talent might actually come out to the world in this way.
10. Turn your baby or pet into a celebrity.
You will be amazed to know that a lot of people are ready to give you a lot of viewing hours based on the videos of babies or pets at home.
If you have either or both of them at home keep your video camera ready, record it, and post the video if you see anything cute. You never know who or what the next video sensation will be.
To become a Youtube star, you don’t have to be a singer. If you are lucky, you might shoot a chord-beating, viral video of a child, animal, or dual rainbow. Two cats, Lil Bub and Grumpy Cat, began on YouTube and became world stars, offering book deals.
11. Crowdfund your project
When money comes between an idea and its success, crowdfunding is a good way.
You may invite your own audience and the crowdfunding community to join if you want support in obtaining better equipment, recruiting actors or covering certain production costs if the concept is sufficiently convincing.
Many successful crowdfunded creative ventures appear to offer sneak previews or “trailer” entertaining people, so consider taking a video that describes what your project is or gives a preview of what the stuff is going to look like.
12. Allow your public to support your work with “fan funding”
The audience that you have garnered with a lot of hard work and dedication is the sole reason that you can make a name for yourself on YouTube. You can even take financial remunerations from them on the basis of the entertainment or information as well as the services that you provide to them by using the concept of “fan funding sources”.
This is generally in the form of donations. Remember, it should not be forceful in any manner. It should come from your fans without any compulsion. Only then the purpose of it is solved. You can ensure them that with their support you will continue with your work in the most honest manner possible and give them content that they will like.
Many fan funding platforms provide the creators with an additional space to learn about their content and a way to involve and reward their loyal audiences. Make sure to follow several best practices if you selected the crowdfunding route.
- First and foremost, you should concentrate on making the whole thing transparent in a crowd funded project. The audience should know that they have contributed for the right purpose and it can motivate many others to take the same route as well. This makes your imagination invested and literally they buy the worth of your content in your story or project.
- Secondly, offer incentives for better commitments. The more donors can feel that they get something exclusive to be a loyal fan, the more likely they will receive gifts and better promises.
Some popular options for fan funding include:
- Super Chat: Super Chat from YouTube is a tool used on YouTube live. It helps you to create a tipping jar so that your audience can contribute as much as they want to. As described above, you will need to establish your YouTube advertising account.
- Patreon: The association site that enables the payment of creators. For as little as a dollar a month fans can subscribe to their favorite creators and be rewarded exclusively.
- Tipee: You can get both a single and recurring donation combination.
How Much Money Can You Make on YouTube?
You will increase your revenue capacity by ad monetization, affiliate ties and the selling of supported video investments.
Making money from ads- You will make money from CPM, CPV and CPC ads on YouTube. A regular YouTuber yields $7.60 per 1,000 views at cost per mile(CPM). However, Google policies give creators 55% of the ad revenue, while Google retains 45%.
Considering this ratio, it can be safely said that you have the potential to make a lot of profit here.
So if you are a channel owner with affiliate marketing, advertisers pay for various models – either cost per sale or cost per lead. Your earnings here correlate directly to the amount of conversions and advertiser sales commissions you get.
Making money for endorsed items- Within your videos you can even sell endorsed items. Here YouTubers make money by offering short mentions or more detailed product reviews for exposure-seeking brands. However, brands pay for your channels if you have been able to create a quantifiable following.
For the few thousand views you get on your page, this price will range from $20 to $50. For example, you can earn from $20,000 up to $50,000 anywhere if the video in your channel reaches millions of views.
This technique is a great way of acquiring money if you do not build millions of views.
Verdict
To conclude, it can be said that the monetary potential of it is something that can definitely not be denied. According to the Forbes list, the most successful YouTubers can make upto 20 million dollars in a year itself.
What is important that you stay honest to yourself and the fans and keep giving them content that they will like and enjoy.
YouTube lets you showcase your talents in the most unique manner. It is up to you how you can make full use of it.
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