Making money on YouTube could be a dream come true for some people. Getting paid for doing something that you love sounds like the golden ticket. Many people are making a ton of money on YouTube, but it’s not as simple as you may think, and earning the big bucks requires dedication and a lot of hard work.
The concept of making money on YouTube is still relatively simple, but as with everything in life, to do it successfully you need to know the recipe for Success. Thankfully, if you follow a few simple steps, there’s a good chance you can make your content stand out from the crowd and you too can make money from YouTube. Let’s look further into how to make money from YouTube.
Exactly How Much Money Can You Make From YouTube?
How long is a piece of string? The amount of money you can earn entirely depends on what your channel proposition is and the quality of the channel and the content you are producing. Much like writing a hit record, when you have all of the factors coming together at the right time, in the right moment, there is a tipping point which sets you on the road to stardom.
If you look at what is successful in any Industry, it is where people/product/brand is doing something authentic, rather than contrived. This is no exception on YouTube, where the overriding factor that will enable you to make money from YouTube is engaging with your audience authentically and genuinely as well as creating content that people want to engage with.
To give you an idea of potential earnings, if you are looking specifically at advertising revenue, you can expect to earn around $2 per 1,000 views. When you have a subscriber base that stretches into the millions, it’s easy to see how these channels can make considerable sums of money. However, the majority of money earned by some of the largest YouTube Stars is not generated through ad revenue but from paid sponsorship and other merchandise product sales.
The basis for all commercial activity is creating a unique idea for your channel and producing quality and engaging content. Let’s take a look at some things to consider when you were looking at how to make money from YouTube.
To Get Paid Ad Revenue You Need to Qualify for the YouTube Partner Program
YouTube changed the goal posts in January 2018 placing a hurdle rate that channels must adhere to in order to be accepted for the YouTube Partner Program. This was to ensure the credibility of channels, as many people jumped on the bandwagon thinking they could become YouTube millionaires. Parameters for acceptance into the YouTube Partner Program now stipulate you must have at least 4,000 hours of video views and at least 1,000 channel subscribers, before you are eligible to monetize your content.
While this may seem off-putting to some people, the reality is if you cannot get 1,000 subscribers to your channel then you will never make any money on YouTube anyway. At a basic level, your channel needs to be popular in order to get paid. You cannot get monetized on videos that are not being watched so your main focus should be geared toward increasing your subscriber base and ongoing engagement with your content. In order for your channel to be seen and noticed it’s important to follow a few simple steps.
Pick Your Unique Idea
There are many different types of YouTube channels ranging from personal videos, how to videos, educational vlogs, product reviews and comedy. To be successful you need to come up with a unique spin, but most of all you need to differentiate yourself from others with your unique personality. Content should be of a personable nature, that engages your viewer almost like you are talking to a friend in the same room.
Quality, Authenticity, Consistency
Quality, authenticity, and consistency are the keys to building a channel that people will want to watch and return to. If your niche is reviewing kitchen gadgets, viewers will expect to see a consistent level of information and quality if they are to come back time and time again. The more you focus on producing informative, authentic videos that have your unique personality on them the more people will engage. If people want to see a product view of a Sony television, they could easily watch a demonstration video on the Sony website.
People want to look at the Sony television review on YouTube because they connect to the personality of the reviewer and they believe and buy into the authenticity of that person’s review. You are trying to create this symbiotic relationship with the viewer; this is the key to driving your subscription base, along with promoting your YouTube channel on other social media channels driving people to view the content.
Upload Content Regularly
If you are trying to build an audience, you need to create regular content. You are not going to make money by posting the occasional clip, as there would be no reason for your viewer to return to your channel and view something new. It is useful to create a forward schedule of what you are going to develop so you can program a release schedule. This doesn’t have to be daily, but to keep up the interest of the viewer, I would recommend it needs to be at least weekly if not more.
Make Sure Your Tags and Descriptions are Accurate
When uploading your videos, it is vital that you fill out the tags and descriptions with the broadest, searchable appeal as possible, so that the YouTube algorithms can help people find your content. Do not use any niche language and try to make descriptions as relevant, but as wide-reaching as possible to ensure the maximum amount of people can find your clip.
Be Energetic and Passionate
There is nothing worse than watching paint dry, although I’m sure someone has tried to do that on YouTube already. Be upbeat be engaging, but most of all be yourself. If people can see that you love what you’re doing, they are more likely to watch your videos to the end and come back to see them again. Remember, focus on doing what you love in the video, and the money will follow later.
Other Ways to Make Money
Ad revenue is only one way to make money on YouTube; there are many other things you can do to monetize your channel. Although you do not need to be a part of the YouTube Partner Program to undertake sponsorship and paid influencer campaigns, you need similar metrics to attract sponsorship. The reality is that your channel needs to be of a certain size and credibility, with a niche following, before potential sponsors will want to invest their time, product and money on you.
However, this is a hugely lucrative area for most of the larger YouTube stars with some channels commanding fees in the thousands for writing and posting about specific products and brands. Using affiliate links and affiliate codes within your vlogs is also a way to make money from product owners, by offering your followers discounts and special offers which you will be paid a commission on once they have purchased.
If all this seems like a lot to take in, there are many online courses that you can subscribe to, giving you step-by-step instructions on how to make money on YouTube. If you need to take the hassle out of making money on YouTube and would like to benefit from experienced people that have already made a fortune, then I highly recommend using one of these guides. We particularly recommend YouTube secrets by Mike Williams.
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