Make Money on YouTube can it Be Done?
The internet has given many people the opportunity to earn money by monetizing almost any talent or skill. However, just as with any money-making venture, many faulty opinions surround the most effective strategies. A lot of people believe that it’s extremely hard to make living on YouTube while in reality, everyone can do it without significant investments.
Each YouTube star is a self-made celebrity who has gained an audience by developing content geared toward reviewing, entertaining, teaching, pets, some creative ideas, and life hacks. Here’s your handy guide to learn how to make money on YouTube:
1. Focus on Quality, Not Quantity
This tip is as old as the Eiffel Tower, yet the quality of your videos will play a key role in how successful you will become. Although the top YouTubers have tons of subscribers, it doesn’t mean they earn millions due to this factor. FunToyzCollector has about 8 million subscribers and earns $30.4 million while Ray William Johnson has 10 million subscribers and earn $4.2 Million.
Revenue fluctuates depending on the channel’s premise, yet even the smallest channels can also be monetized. The key is quality. Your earning potential doesn’t solely depend on the number of the views and subscribers you have. It’s determined by the niche of your channel, the engagement level you generate, and the revenue channel you discover. Sure, the number of subscribers still matters, but don’t focus on it only.
2. Post Constantly
While you want to focus on quality over quantity, you still want to have a consistent posting routine. If you look at any successful YouTuber there is something you will see they all have in common, they all continue to post consistent content. It kind of like the old saying “slow and steady wins the race.” If you take your time and make quality content and are constantly posting new videos and doing the supporting actions, you’ll become successful.
3. Earn Cash from Ads
The advertisement is one of the main revenue streams to consider. First, you should become a YouTube Partner. You can do it in the Creator Studio section, the Channel menu of your account. Just verify your YouTube account and click Monetization.
As soon as you become a YouTube Partner, you should create an AdSense account to reap the benefits from Google’s advertising network. This account will allow you to see ad revenue reports and get paid. Once you create this account, a green icon (“$”) will appear next to your videos. Check out the Video Manager section regularly to ensure each video is enabled for monetization. Access each video’s monetization settings by clicking on the video’s name. Don’t expect to earn millions from ads, though.
4. Seek Sponsorships
If you’ve been following some successful YouTubers for a long while, you might notice the advertisements and sponsorships they add to their videos. Sponsorships are lucrative opportunities the YouTube stars have found and tried on their own.
One of the most interesting things about sponsorships is that you’re able to negotiate various contracts based on the number of your audience and impressions. The amount of revenue you can generate from these deals is much bigger than YouTube ad revenue. It doesn’t mean you should give up on ads, though. You can have two sources of earned income from the same video by generating ad revenue and sponsorship.
5. Selling Merchandise or Products
Selling merchandise or products, such as coffee mugs, shirts, tote bags, beauty products, snapbacks, etc, provide a huge perk beyond revenue. This way, you can boost your exposure to people worldwide by placing your personality and online brand out there into the offline world. Selling quality goods will not only help you to earn some cash but will also aid you in a building a closer and stronger relationship with your audience. Many YouTubers confess that as people buy into what they’re doing when purchasing their merchandise.
Plus, it’s a lot easier to sell the branded goods than it seems at first. There are many places online where you can find affordable yet cool stuff that people are buying these days. Consider Amazon, eBay, AliExpress, or Joom.
When handling customers and orders, try integrating your online store with some useful services like Oberlo that helps to import merchandise from suppliers and sellers right into your Shopify store and takes care of the shipping process in just a few clicks. You may want to handle the shipping process alone at the beginning, but once your sells increase, you’ll definitely need some help.
You can also partner with a well-known merchandising network if you aren’t about selling. But, be ready that you will be competing with more popular YouTube stars in a marketplace. Plus, you’ll have less control over offering discounts, adding new products, integrating your own content, and other perks that come with having your own merchandise site.
If you have an opportunity to make and sell your own products, it’s even better. As you gain an audience, you’ll get many customers and views at the same time.
6. Gain a Broad Audience
It’s key to boosting your monetization and selling (if you’re going to sell). You need an audience to watch your ads and buy your goods so that you could make any cash off of them. While some YouTubers pay money for promoting their channels and attracting new fans, you can do it without money. Simply keep uploading the high quality and interesting or weird content on a regular basis to get more fans hooked. Share your video on Facebook, Instagram, and Twitter, and ask your friends to do the same. Social media works wonder, especially Facebook and Instagram.
At least thousand subscribers are required for sponsorships. Don’t forget to interact with your subscribers by responding to their questions and comments. If you receive a lot of comments and questions, you can make an occasional video related to them. The more you connect with your subscribers, the more members you add to your community.
Remember, you need at least 1000 subscribers and 4000 hours watch time to start making money on YouTube.
7. Try Supp.me Service
This service let you easily create quizzes and polls for free. Come up with a question for your audience and ask them to leave their comments. The more people check out your Supp.me pages, the more money you make. It’s a wonderful way to get feedback from your subscribers (for example, you can ask for any improvements or ideas for videos) and boost your income at the same time.
8. Think of Creating Your own Web TV Shows
This function is available for those who are super creative and enjoys telling stories. Depending on your budget and creativity level, you can create your own talk show, a drama series, or even a comedy series. However, since YouTube has a video limitation, your series or show should last not more than 15 minutes. If you can afford to increase your limit, you can create longer videos. If you’re an avid screen or TV writer, get several friends and record your own TV shows together. You get thousands (if not millions) of views and create a new career.
9. Create Tutorials
There are plenty of tutorials on YouTube, but most of them are unhelpful or boring. If you’re good at doing something amazing and you can teach others in a fun way, why not earn cash from your videos? If you know some languages, that’s a big advantage. Beauty videos are extremely popular too. For instance, Michelle Phan, an American make-up artist has more than 1.3 million views.
10. Create your Metadata to Gain an Audience
More than hundred hours of various videos uploaded to YouTube each minute creates an astonishing competition for attention. That’s why you should do everything possible and impossible to get noticed. Your video’s metadata can help viewers to find your videos.
It’s data that provides information about each of your video. Check out Creator Playbook to learn how to create metadata. This will maximize your presence in promotion, search, ad-serving, and suggested videos. Ensure your metadata is regularly optimized by paying more attention to your video’s title, description, and tags.
11. Test-market Your Merchandise or Products
If you’re looking for a successful resource for market research, consider YouTube. It helps to find out whether or not your idea is going to be profitable. Let’s say, you have an awesome business idea for creating a campaign Kickstarter.com, but you need funding, consider creating some videos first. The comments and views on your videos will help you learn whether or not your idea has the future. The audience on YouTube can even make your idea viable and help you find sponsors or partners.
12. Turn Your Kids or Pets into Stars
If you don’t feel like creating videos about yourself, why not let your kids or pets become YouTube stars? Kids and animals are funny and they don’t have to pretend to attract an audience. Simply keep your phone camera handy whenever you spend your time with your little ones. If you’re lucky, your videos might go viral. Think of Grumpy Cat, Lil Bub, and Two cats? They are now popular worldwide, so your kitten has a chance too. As soon as you create a sensation, the cash will flow.
How to make money on YouTube Final Thoughts
Even if you’ve never considered earning money on YouTube, now you can give it a whirl. There are tons of ideas to try regardless of your budget and time. The most important thing when it comes to learning how to make money on YouTube is just doing it. Start now, learn, adapt, and keep trying. You’ll make money if you don’t give up.