How To Make Money On Youtube In 2021
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How To Make Money On Youtube 2019
Do you know that every time you watch a video on YouTube, its creator makes money in return?
For example, there is a professional circus juggler who earns $10,000 per month just for taking videos of his entertainment acts. Believe it or not, a 6-year old boy even made headlines for making $10 to $11 million per year on YouTube by just opening up new toys and playing around. With all of these in mind, it is not surprising that everyone tries creating the best content to have a piece of the YouTube pie.
There are various opportunities for you to reach that dream. In this article, we will be exploring the ins and outs of making money on YouTube this 2019.
The History Of Youtube
YouTube was first launched by Chad Hurley, Jawed Karim, and Steve Chen in 2005. This idea started when the three employees of PayPal realized that there was no one platform where all the videos uploaded could be shared. Both the tsunami in Thailand in December 2004 and the Janet Jackson Super Bowl wardrobe malfunction triggered the idea.
The creators received a $12 million investment from Sequoia Capital as a starting money. During the same year, the first-ever video to reach one million views was the Nike commercial. Upon seeing its success and potential growth, Google acquired the startup business a year later with a buy-in of approximately $1.7 billion.
Since its birth, YouTube has transformed the way the world views video and the ways content creators interact with their audience. It is now one of the most successful multi-billion dollar digital businesses in the world.
If you are interested in reading about YouTube’s evolution, you may want to check out the book YouTube: The Company and Its Founders by Rebecca Rowell.
Understanding Your Audience
Before deciding on your YouTube money-making strategy, you have to first understand your audience demographics. Understanding your niche and what your audience is looking for will allow you to keep you content on point and always create value for your viewers.
Tapping a specific audience will also help you attract external partners, advertisers, and sponsors. If you can analyze your audience’s behavior and become a trusted influencer to that audience, you will be able to maximize the value you bring to these outside partners. In turn they will be more willing to pay you for cobranding opportunities.
But making money on YouTube is not an overnight process.
How To Make Money On YouTube
The money-making niche in YouTube is challenging, competitive and intense. Hence, you have to explore and take a more in-depth look at the different ways to earn money. So, how do creators do it?
Partner With YoutTube And Be An AdSense Publisher
The most common strategy in making money from YouTube is through AdSense. AdSense refers to an in-house program of Google which allows creators and video publishers to show advertisements in between their content and collect a commission on a per-impression or per-click basis.
However, not everyone can join this program. Aside from adhering to the ad rules of the platform, you also need to have at least 4,000 watch hours within the past year and a minimum of 1,000 subscribers. After meeting these requirements, you are now eligible to apply to the YouTube Partner Program (YPP).
Once you have been accepted to both AdSense and YPP, you now need to set up your money-making channel.
- Enable your YouTube channel for monetization (via Creator Studio): Click channel’s preferences and click ‘Status and Features.’ Look for the Monetization area and press ‘Enable.’
- Connect your channel to your AdSense account: Go back to the Creator Studio, go the Channel Options, and look for the Monetization box. Then, click “Set up an Adsense Account.” Take note that you can only link these two upon receiving a certain amount of views.
- Familiarization: Familiarize with what types of videos and which ad formats are you allowed to monetize. After, select “monetize with ads” on the same monetization setting in number 2.
- Upload your video: In this setting, your earnings will depend on the number of YouTube views you will acquire. You would only be able to attract more web traffic and receive a higher if you upload videos consistently.
Most YouTubers earn about $2 to $4 per 1000 views from AdSense. However, you will only be able to achieve this if you have an excellent viewer engagement. Engagement refers to the viewer either watching the ad beyond 30 seconds or clicking on the ad. At the same time, YouTube also has a cut on your ad revenue. If you earn $2 on a particular add, you’ll share 45 percent to Youtube while you get the 55 percent.
To have a more in-depth idea of how AdSense works, you may read the famous selling book, Google AdSense Secrets 6.0 by Joel Comm.
Fan-Fund The Channel
If you feel that you have already gained several loyal fans, then it would not be too hard to convince them to crowdfund your channel. The money obtained from this fund raising will help you with the financials in creating future videos and profiting from them.
There are various platforms which can contribute to a seamless process for this strategy. For one, Patreon can be an avenue where your fans can make their subscriptions to YouTube channels and have an opportunity to receive exclusive prizes and rewards from their favorite creators. Tipee is also a website service which offers one-time donations. Or other platforms like gofundme.com or fundly.
The most popular groups who raise money this way are typically nonprofits however many small for-profit organizations and individuals are also starting to leverage this more. Since they do not have the means to manage and maintain a robust channels, they need the support of other people to ensure that their operations or these individuals can run smoothly. There are no rules on how this money is used. You can invest better shooting equipment, covering production costs, hiring actors or using Virtual Assistants.
To be able to connect to your audience fully, you can even create a promotional video where you can present the following points:
- What your organization is
- The mission and vision of your company
- What are the programs that you offer
- Where you will invest the money
- What they will do should they agree to donate money
Use Affiliate Links
Affiliate marketing is one of the most effective ways of earning money online. For example, if you recommend a product on your video and the user clicks the link to buy that particular item, you can receive a commission. Most video creators place these links on the starting lines of the video description while still promoting this link in the middle of the video. Most YouTube content direct their viewers to famous stores like Target, Walmart, and Amazon.
Take note that bombarding your videos with many affiliate links won’t necessarily translate to money. It does not mean that the more affiliate links posted, the higher the earnings you will receive. This situation might lead your viewers to believe that you are only using them as cash cows and that you don’t care for their welfare. The best attack for this is to promote one to two affiliate links and relate this to their needs.
Instead of promoting the products of other companies, why not just venture into your promotional platform and take home 100 percent of the revenue? Sell merchandise such as e-books, t-shirts, bags, and mugs and put your branding on it.
For example, you can set up your own online channel through Shopify and use editing software to publish your niche content video. You can then use shopify or sites like Printify to have your shirts, mugs and gear printed with custom logo, on demand and sent right to your fans.
Study YouTube Search Engine Optimization (SEO)
For those YouTubers who have not yet established their loyal following, you should try stepping up your game through maximizing the SEO strategy. Perform keyword searches based on the profile and behavior of your targeted audience. Next, make sure that these keywords will be included in the video title, video tags, and video description.
Once you have launched your own SEO strategy, you may monitor the searched words through the “Traffic Source: YouTube search” feature. Google also have tutorial videos on how to go about this program.
Search Engine Optimization is a complicated and technical process. If you want to master the basics of this topic, check out The Art of SEO: Mastering Search Engine Optimization by Eric Enge.
Licensing Your Video Content
If you happen to post a video which created a buzz in the online work and became a viral video, you can earn passive income by licensing it to other media outlets. Various platforms such as morning shows, online news sites, and television news outlets are willing to pay to show clips of your videos on their shows.
At the same time, you can list your viral videos in marketplaces like Juken Media. This way, they can easily find it and contact you there should they be interested.
Promote Your Website Through YouTube
Whether you have a blog, run an online store, or keep a ‘how-to’ website, you can still use your YouTube channel to direct traffic to your other platforms. Once your audience number increases, your conversion rate has a higher chance of increasing. Take note, however, to tailor your promotional strategies to your audience. For example, do not promote your other platforms to your own base of YouTube as they already like to watch you on YouTube. Instead market products that has value to your base and market your YouTube Channel to audiences you don’t yet have.
Make money through YouTube is not that easy. It might take you months or years to be able to earn a significant amount of money. You will need to patience, capital, and to rely on trends, your marketing funnel, or even luck and timing to get you there. However if you are successful you can be wildly successful!
Discover more ways to make money on YouTube through Lavonte Martin’s book entitled How To Make Money on YouTube: The Ultimate Guide to How to Make Money with YouTube Making Passive Income for Life.