Promotions and capitalizing by those promotions are two different things. Attempts at turning your channel into a revenue stream is a whole another level job. It’s true that every business or brand needs to follow its own mechanisms to achieve what success connotes for them. But learning how to make money isn’t very difficult as you might think. You don’t need to essentially be one of the top YouTube creators in order to make money. Below is five effective tips that will help you make money on YouTube.
5 EFFECTIVE TIPS
Having content strategy is just one of the many parts of learning how to make money. In order to get money flowing, you also need to understand how Youtubers use social media platforms to make money, gain YouTube subscribers and get real YouTube views. To learn this, read below.
- You must apply to get access to ad revenue.
You can’t simply opt for monetization on YouTube. You get rewarded only when your channel performs extremely well. You have to fulfill certain eligibility requirements if you want to access the YouTube Partner Program (YPP) application which in turn allows you to access ad revenue. Below are the requirements:
- At least 1,000 subscribers
- 4,000 public video watch hours in one year.
- Reside in a YPP-eligible country
- Must have a Google AdSense account
To check if you are eligible or not, go to the Monetization” tab of your YouTube Studio.
Note: Before you start applying to access the ad revenue, you must double check if you meet the YouTube policies that pertain to the monetized channels i.e. AdSense program policies, community guidelines etc.
- Earnings are not based on views.
Once you are done with the review process and your account has been approved for the YouTube Partner Program, you can then enable or disable ads for any video on your channel. When you choose monetization of a video using YouTube ads, your earnings then depend on the number of ad impressions you can get. However, this ain’t the only factor. Some advertisers pay you more for the ad placements, in that case you may earn more for these ads as compared to others. Moreover, you won’t be getting all the revenue as YouTube takes 45% of ad revenue. Thus, don’t think you will make hundreds off a handful of views. Infact, Forbes estimates that successful YouTubers like PewDiePie, Logan Paul etc. make only $5 for every 1000 views. So, your earnings aren’t based on views alone.
- You can receive direct funds from your subscribers
Worried about not getting enough views? Well, you don’t need to because your earning is not solely based on ad revenue or views. When you have loyal subscribers, you can make money in the following ways:
- Live stream: Wherever you go live on YouTube, you get the option to use Super Chat and Super Stickers. Whenever any user buys one of these, their comments become distinct after which you can acknowledge it and engage with them.
- Enabling channel memberships: When you reach a milestone say 5,000 subscribers, invite users to become one of the paying members of your channel by incentivising them with perks such as special emojis, merch, badges, so on and so forth.
- Adding to your merch shelf: Given the fact that you can’t directly engage in selling the kind of products or services your brand provides on YouTube, however, you can go ahead and sell merch or accessories from approved retailers. Again, when you reach a milestone say 10K subscribers, do giveaways and sell them.
- There are other monetization options that you can use to make extra money. For example: whenever a YouTube premium user watches your content, you earn a small cut of their subscription charges.
- When you are a part of YouTube’s Partner Program, fan funding is a very effective alternative to earn. However, even if you aren’t a part of the monetization program, you have other ways to make money for your company by using CTAs to visit your channel on which you shall provide contents like vlogs or unboxing videos or if you are campaigning or fundraising.
- Affiliate marketing helps you earn without ads
If you aren’t approved to be a part of YouTube’s Partner Program, don’t worry for there are other ways through which your brand can earn revenue and improve YouTube analytics. Affiliate programs help you earn a commission when users purchase products through your unique link that you can place in your description. All you need to do is bring your viewers to watch your video content and read the description box. If you have a large number of YouTube views and YouTube subscribers, some brands are also willing to sponsor your videos and in return, they just want an on-screen product review. These modes of earning money like affiliate marketing and sponsorships are effective strategies for rising influencers, small business owners who aim to make money by selling their own products or services. However, this is not to say that if you don’t fit in the above-mentioned categories you can’t use these modes. You can still partner with various other brands to earn extra cash.
- Aim at Consistency which is the key to gain subscribers.
Subscribers are the currency of YouTube. The more subscribers you have, the more money you make because large subscriber base which essentially means more access to opportunities that will help you earn cash. But the larger question is: How to get more YouTube subscribers? The first thing you need to aim in this direction is boosting your consistency. Consistency is not just about posting new content at the specified time on the specified day as per your calendar. That’s very helpful, but there are other things to consider. You videos should be consistent with the aesthetic feels and the look. This helps build subscriber loyalty. You can use various storytelling features to decide the music, colours, fonts etc. that will give your content a consistent look which is more professional and eye-catching at the same time. Thus, to increase your YouTube subscribers and get more YouTube views, aim at consistency.
Ways to make money on YouTube differs from brand to brand. However, the above-mentioned tips and tricks are some of the many standardised ways that can be used by any rising, small business and influencers who want to leave behind a legacy.