If you have a spark of creativity and the required skillset to execute the ideas into videos, YouTube may be the perfect channel to mint money. YouTube is a leading video platform with a wide user base. Plus, it allows creators to monetize their videos in many ways.
Once you understand how to create a YouTube video, it is all about clever strategizing to add to your bank balance. Here is a quick and easy guide on how to start your career as a YouTuber!
Ways to Earn Money Over YouTube
First, you need to understand the various revenue-generating models of YouTube. Typically, you would start a YouTube channel along with a Google AdSense account and gather enough views to earn revenue through ads. However, there are other ways in which you can boost this income through a multi-disciplinary approach.
Here are six other ways to make money on YouTube:
1. Becoming a YouTube Partner
You need a minimum of 1,000 subscribers and 4,000 watch hours in the last 12 months to be eligible for the YouTube Partner Program. So, you will have to hustle from day one to get to the YouTube Partner status.
However, these efforts will be worth it as it grants users access to special features on the platform. It unlocks several other revenue streams, such as YouTube Premium subscription fees, channel membership, merchandising shelf, Super Chat payments, and a lot more.
2. Sell Merchandise
If you are an established brand and are looking at how to promote your business, YouTube can come to your rescue. You can create YouTube videos to market your product or service and create awareness. Include CTAs and links to your main website or landing page to divert the traffic to the store!
This scheme also works wonders for those videos that have reached the “viral” status. Consider that you have been successful in delivering a hit like “Gangnam Style.” As you bask in the glory of your creation, consider building up momentum and release Psy’s mugs, shirts, bobbleheads, and more!
Merchandising offers a unique opportunity for you to connect with your audiences. You can also continue promoting your products through other YouTube videos.
3. Create Sponsored Content
In the age of influencers, it would be criminal to miss out on encashing your celebrity status. You can ride the sponsored content wave to promote a brand and have them pay you directly. Affiliate marketing through YouTube is also another popular technique for making a small commission on every purchase that your audience makes.
However, it is crucial that you remain transparent with your users for any sponsored content. Displaying a visible disclosure not only helps nurture trust but also keeps you out of any legal trouble.
4. Raise Funds From Audiences
In early 2017, YouTube launched Super Chat, which allowed YouTubers to show their appreciation for your content by paying you directly. Super Chat also grants comment visibility to the contributor through pinned comments.
Similarly, YouTube offers premium access to subscribers offering monetary support to content creators. In addition to member-only access, it also offers emojis and loyalty badges to keep things fun.
Such a technique can be highly useful if you are in the process of creating a web series. You can drop the teaser and a couple of episodes for public viewing, and then grant access to the remaining content for a small sum.
5. Resort to Crowdfunding
If you wish your sponsors to pay you on other platforms, you can choose from a wide range of crowdfunding platforms that are YouTube approved. Platforms like Patreon are best suited for recurring funding, while GoFundMe or Kickstarters help in your one-off efforts to raise funds.
As a token of thanks, you can always include the names of the patrons to your videos and show your appreciation personally.
You can also try going live to engage and thank them. Be sure to do an online webcam test to guarantee that you provide a good video experience.
6. License Popular Content
Licensing your content is yet another tactic to raise money off of a video that has gone viral. Most established news outlets and media companies know that they need explicit permission to use your video. However, when you license these creations, they will also have to pay you a small sum for fair usage.
YouTube Video Marketing Tips to Increase Revenue
Due to YouTube’s popularity, it can be rather tough to stand out from the crowd and get your content seen! Fortunately, here are a few tips on promoting and marketing your videos on YouTube to get you started:
- Develop a brand and maintain visual consistency. In doing so, you are building an emotional connection with the viewers, which allows them to recognize your brand through color schemes, typography, and other such pointers.
- Customize your thumbnail to generate curiosity. Ensure that it contributes to your brand consistency.
- Incorporate keywords within titles, video descriptions, tags, closed captions, and metadata to make your videos easy to locate.
- For short video content, keep the videos about 2-minute long. For longer videos, 7 to 13 minutes will offer maximum engagement.
- Include CTAs in your videos to make your brand memorable.
- As you are building a personal connection with your viewers, stay consistent in posting videos on your YouTube channel. Posting infrequently will cause a drop in the engagement levels, which will impact your revenue.
- Collaborate with other YouTubers to appeal to a wider audience and to add a fresh perspective to your videos.
- Finally (and most importantly) create original, creative, and informative content, which offers value-addition to the viewers.
It is evident that there are several ways to make money on YouTube. So how does one maximize their revenue? Through a mix of the many revenue-generating models cited above!
Once you hit the perfect formula for mixing up your content, you can get working on creating it. Fortunately, it has become cheaper and easier to produce high-quality videos for YouTube. You can always make use of tools like InVideo for a perfect, professional finishing.
After you publish your videos, you will have to promote it aggressively. Soon enough, you will start raking in money as your YouTube videos and channel gain more visibility!
Go ahead and get creating.