Having the potential to get wealthy from your bedroom makes YouTube very appealing, and the platform is only growing. You’ve already figured out how to capture and keep the audience’s attention; all that’s left to create a way to monetize this passion.
Just like any vlogger or influencer, the size of your audience and the amount of engagement heavily impacts what you can earn. Whether you are an experienced vlogger, an amateur, or somewhere in between, bringing in big revenue from YouTube is always the goal.
There is no single formula for success, but there are certain things you can do in order to make money. The main ways to generate revenue from a YouTube channel include having ads on your videos, getting sponsored and selling products through an online platform.
Until this year, anyone had the ability to earn money through ads on their YouTube videos. You simply had to turn on the monetization setting within your YouTube account. This allowed any YouTuber to have ads placed on your videos, from which you’d earn a fraction of a cent each time a person viewed or clicked the ad.
This all changed in January 2018, when new standards were set to merit monetization through the YouTube Partner Program (YPP). Now, to be accepted into YPP, you need a minimum of 1,000 subscribers plus 4,000 hours of watch-time over the past 12 months. Basically, these changes have made making money on YouTube a lot harder for the average creator.
Of course, you can profit directly from YouTube itself through YPP, but with YouTube constantly updating payout requirements, its crucial to review all entrepreneurial avenues. The key is uploading engaging content, building yourself as a brand and creating multiple streams of revenue from this positioning. This will allow you to continue to add other streams of income on top of ads, setting the foundation for a long-lived career with YouTube as the starting point.
One of the most important components is becoming known within the YouTube community. Having a reputation goes a long way because people see you not only as a creative individual, but also as a business. Make sure you, too, are viewing your YouTube channel as your brand. Details matter!
Number one: BE YOURSELF. Your personality is what differentiates you from every other YouTube channel and makes you unique. Having a catchy intro, creating eye catching thumbnails, becoming prominent within a specific area, understanding metadata and collaborating with other YouTubers also goes a long way to growing a sustainable channel. Continuously brainstorm ways to help your brand grow on the platform.
Once your personal brand is created, sponsors and endorsers will pay you to promote or mention their products in your videos. Just be sure to disclose the nature of the video to your viewers; on top helping set a more honest tone with your audience, it is required by law to mention that the video is sponsored. Company’s pay YouTubers in different forms, whether it be per click on the company’s link, per view or even a set price for partnering. Discuss this as you talk with companies and find something that is good for both you and the party involved.
You’ll also want to associate yourself only with company’s you truly want to support. When you endorse a product, it becomes a reflection of you. In other words, don’t overlook the ethics or quality of a company or product for a paycheck. Only participate in ads that fall in line with your brand. If you are seeking ways to connect with brands, there are companies and websites to specifically to help! A big one to check out is Famebit. It’s a YouTube-owned site that specifically works to connect channels with sponsors.
Beyond the Internet
It’s also important to not rely solely on digital platforms for making money. Look at ways you can reach your fanbase offline. If you have a skill you showcase on your channel, plan an in-person lecture or class. Venues and companies may also want to host you as a guest speaker for events. Reach out and simply ask. This requires you to do nothing outside of what you are already recording. The only difference is you’ll get to connect in-person with your fanbase. Even if your channel isn’t skill-based, people love you for you. Plan a show, meet and greet or tour to connect with fans offline.
Another important area for YouTubers to explore is goods and merchandise. There are multiple strategies creatives can use to start their own line of products. Of course, you can create it on your own by finding a manufacturer, making an online store and promoting sales through your channel and videos. Perhaps you aren’t a product designer. No problem. Sites like Fiverr allow you to connect with designers who can create a logo or art for your merchandise or goods. If you have a great product in mind but funding is a roadblock, try crowdfunding with sites like Patreon and Kickstarter. This allows viewers to donate to projects they care about and support you in the process. In the circumstance that you seek to share responsibility for creating and selling the goods, try collaborations with brands. This allows you to share your ideas and earn revenue while remaining a bit more hands-off for the production process.
Is YouTube your career, or do you want to go beyond that?
So now you have ads, sponsors, in-person appearances and a line of products. Sounds like you’re a YouTube pro. But what’s next? Is YouTube your career, or do you want to go beyond that? Determine what kind of work interests you and use it to fuel even bigger jobs. What type of channel do you have? Skill based? Do you create art? Are you funny? Can you act? Reflect on this and see all the possible careers you can dive into, whether that be acting, comedy, media production or something more specific to the skill set you’ve developed along with your channel. Managing a YouTube channel takes multiple skills within itself. Perhaps you can even help others creators manage their channels.
There are so many avenues to explore and make money from when it comes to YouTubing. But we are all creative beings, so get creative!Creators, let’s create!