How To Make Money With YouTube?
We’re living in a world where anyone can become a YouTube star. They can become self-made celebrities by earning an audience through creating great content. It’s a dream come true because they get to teach, entertain, and review the citizens of the internet. Top YouTubers earn millions of dollars every year while smaller ones earn a solid living from it. All of them enjoy the benefits of this video centric social media network which everyone has access to. But how much money can you make from it and how?
You might have heard that you can expect to make 1$ per a thousand views, which makes $1,000 per a million views. A lot of people say that its $5 per a thousand views, but that doesn’t actually matter for every YouTuber. These numbers mostly apply to those who make their money from the ads on their videos. The real question we should be asking is, how much engagement do you need to build to make money on YouTube and how will you monetize it? As you make money based on people’s engagement with your ads and your channel and not based on your number of views.
You can generate revenue from your videos in numerous ways, using ads is one of the lowest paying ones. This is why I’m going to share with you today the ways most YouTubers make money from their videos. So, without further ado, let’s get down to it!
This isn’t a new concept if you watch a lot of YouTube videos. Brands always reach out to popular YouTubers as a form of influencer marketing. They pay good money to YouTubers for them to mention their product or service during their video. You probably heard the phrase „This video was brought to you by…” plenty of times. YouTubers aren’t shy about admitting that their videos are sponsored by a company, because it’s what allows them to make a living of what they do. Brands pay them based on the average number of views their videos receive, so the more successful a channel gets, the better brand deals it can make.
One of the best things about sponsorships is that YouTube won’t take its cut from it. You can also negotiate your contracts, based on your numbers. You’ll be making a lot more money from sponsorships than from you YouTube ad revenue.
Just about every review channel and review video you came across had affiliate links in their description. By reviewing a particular product, they are giving an incentive to users to buy it. YouTubers also provide promotional codes that give you discounts, which make it more likely that you’ll purchase through their affiliate links. Once you click on these links, it will take you to an eCommerce site where you can buy the product. Once you do so, the YouTuber will then get a commission from the product’s price. Many YouTubers earn millions like this every year, which is why it’s one of the most lucrative ways to make money off the platform.
Social Media Marketing
Many YouTubers take advantage of their influencer and use it to create new sources of income across other social media platforms such as Facebook, Twitter and Instagram. They can create a wealth of opportunities and partnerships, which allows them to make plenty of extra cash every month.
You can purchase super chats during a live video stream, which will get your comment to a special place in the comment section. YouTube gives the video creator some of the revenue generated from the sale.
If you have a movie or any other kind of creative project that only needs money to start, you can ask your fans to help you make it happen. Whether you need to hire actors, rent space, buy new equipment or have any other kind of production costs, you can sum it up and pitch the community with your idea.
Create a trailer or a demo video of what you’re looking to release, give your audience a taste of what it will be like and explain the project in detail. Let your audience know exactly what they’re investing their money into and how you are going to get the project done. You can show your trailer off on Kickstarter or Indiegogo.
Also, come up with a reward package that you can give to all of your supporters once the project gets launched. It will be a good incentive for them to donate and make your dream a reality.
As an online artist, you’re enriching the voice of the internet, without forcing your audience to pay for viewing your content. If you consistently produce good content, your audience will be more than happy to support you.
Numerous YouTubers are now leveraging the use of Patreaon as a primary source of income. Patreon allows artists to collect monthly donations that help them to support their work. It is a solid way for a YouTuber to grow their channel and their income as well.
Many YouTubers like Logan Paul or Pewdiepie have created their own clothing brand that reflects their style. Any YouTuber can do this and use the platform to promote their products. It is actually the most lucrative way to make money on YouTube. Which is why Logan Paul made 12.5$ million in 2017 off his vlog, according to Forbes.
You can sell all sorts of branded merchandise such as, coffee mugs, t-shirts, snapbacks, whatever comes to mind. Things like these will increase your exposure and your earning potential as well, because they take your channel’s name into the physical world. Though it depends on what kind of relationship you have between you and your fans. If they are „buying into” what you are doing, then they’ll buy and wear your T shirts as well.
One of the easiest ways to create an online store for your merch is through Shopify. You can run a business like this seamlessly through drop shipping. You can outsource customer support, customer fulfillment and all shipping to large companies and all you have to do is sell your products to more people.
As a YouTube channel, you already have the most important resources to any online store. Which are loads of traffic from search engines and an audience that trusts you.
If you’re good at something, you can create online courses, eBooks and various other materials that you can sell. If you’re a video creator, you can also promote your video services. A lot of them write books that they constantly promote and sell through their channels.
You can also promote your freelance work if you’re a designer, writer, videographer or photographer. Whatever you have to promote and sell, YouTube can be the perfect opportunity to show it off to an interested audience.
Some of YouTube’s biggest stars, such as Pewdiepie, have made most of their money from advertisements in the beginning. In fact, Pewdiepie makes millions off the ads on his videos. Many other new YouTubers have also made their transition to traditional advertising that you would see in television or hear in the radio. You probably came across the much loved Super Bowl commercials too.
To make this happen, you’ll need to become a YouTube partner, which only requires you to verify your account. You’ll also have to have an AdSense account. It’s easy to do and make money off, but it is far from being as lucrative as some of the above mentioned methods.
Also, there have been a lot of problems lately around YouTube’s ad program. Many creators got their videos demonetized and even more feared that they will lose their ad revenue. This is mostly due to the nature of their content and the fact that YouTube demonetizes videos without any notification.
Your video will get demonetized if it includes:
- Inappropriate or offensive language.
- Promotion of regulated substances and drugs.
- Talking about controversial or sensitive subjects that are related to wars, tragedies or the political conflicts of a country.
- Sexually explicit content that contains nudity or sexual humor.
- Violence and the display of serious injuries.
A lot of YouTubers got numerous videos demonetized because they crossed the line in one or more of these cases. So, it’s needless to say that using ads isn’t the safest or the most stable way to generate revenue on YouTube.
How Many Subscribers Do You Need To Start Making Money?
So, once you’ve figured out what kind of videos you want to make and how you will make money off it it’s time to think about the numbers. A lot of top YouTubers make millions and others even tens of millions, but it really depends on the channel’s premise.
Here are a couple of estimates of popular YouTube channels and how much subscribers they have.
- Ray William Johnson makes $4.2 million per year with 10 million subscribers.
- FunToyzCollector makes $30.4 million per year with only 8 million subscribers.
- EpicMealTime makes about $3.1 million per year with 7 million subscribers.
Of course these are the big numbers of big players in the game. But even small YouTube channels can make good money if they are properly monetized. As I mentioned before, your channel’s earning potential isn’t determined by the number of subscribers you have. It’s much more dependent on factors like what kind of niche you’re working in, the level of engagement you generate and the revenue channels you choose to use.
But before you get down to making money from your YouTube channel, you’ll have to have a clear picture of who your audience is.
How To Better Know Your Audience
The best way to set up your channel for monetization is by building your audience. That way, you can easily take full advantage of opportunities that come your way, if you understand who your audience is. The more niche specific your content is, the better chance you have to make good brand deals. Once your channel has gained some traction, you’ll have a much clearer view of who your audience is, thanks to the data you collect. Pay close attention to the following attributes:
- Age – What range does most of your audience fall into? Are they teens, or people between 20 and 40 years of age?
- Gender – How much of your audience is male or female and how much does one of those numbers outgrow the other?
- Watch Time – How much does your audience watch from your videos? At what parts do they quit watching?
- Geographic Location – Where is the majority of your audience located on the map? The more of your audience you have in a particular city, the more likely it is that you can make a deal with a brand from that area.
With a clear understanding of your demographic information, it will be easier to work with brands as you can provide them with a clear offer.
Sell Without Annoying Them
One of the greatest concerns of YouTube creators is that monetization involves the promotion of products or services, and they often get labeled as sell-outs for this. So you’ll have to be careful about how you promote these products without losing the trust of your audience and sabotaging the integrity of your content. Nobody can expect you to put in all that work for free, so you can ask your audience to support you.
Include a Call To Action In the End Of Your Video
One solid way to have your audience carry out a certain task for you is asking them to do it. One of the best ways for that is to include a call to action at the end of your video. Ask viewers to click the subscribe button or carry out any other intended action you need them to take. This approach is one of your greatest revenue making opportunities.
Include Links In Your Video Descriptions
Your video descriptions can be a goldmine. As I mentioned, you can include affiliate links, links to your Kickstarter campaign, Amazon products or Patreon page and any other revenue generating page you might have. So leverage this opportunity and ask your viewers to check out your video description as well.
Show off Your Offers On Social Media
YouTube isn’t the only platform you can show off your offers on. You can use all the other platforms to take advantage of distribution. If you have an already devoted audience, then it will spread like wildfire. Show your content and products off on Facebook, Twitter and Instagram too. The more places you can spread your message the higher the chance that it will be seen and that you’ll generate revenue.
Can you make good money with YouTube? Definitely! But you’re not going to generate income based on your views and subscriber count, you’ll do it through engagement. Think about what kind of content you’re looking to produce and to what kind of audience. Once you’ve established that, identify a few of the ways you can generate revenue and use them!
I hope that you have enjoyed reading through this article and that we will see you again soon in the next one!