People on YouTube are making money left and right, before you rush in, it is important that you know and understand how YouTubers make their money.
This article will show you the most successful ways to make money on YouTube.
Here we go.
How Do YouTubers Make Their Money?
It is rare that people make money on YouTube by accident, competition is high, it is smart to have some type of strategy.
If you can think outside the box a little bit, beyond AdSense, and collect some knowledge about what overs do, you can see your path to income open up pretty quickly.
Get into Affiliate Marketing:
Probably the easiest way of making money online is affiliate marketing.
What Does Affiliate Marketing Entail?
Affiliate Marketing is you help a company to sell their products online. Usually by providing a link to their website or a specific product.
In exchange, you will get paid a commission on purchases. There are many people on YouTube making good money, and some making a fortune.
One example of Affiliate Marketing is “unboxing” videos, most of the time saying, “click the link to buy the product”. This link will tag that user with a ‘cookie’ that will tell the online store that the customer came from you.
How to do it?
The easiest way to get started is to sign up for an affiliate program with one of the big e-commerce companies such as Amazon.
When you sign up for an Amazon associate program (their name for affiliate program), you can get a link to any product on Amazon and put it in your description.
The affiliate link looks something like this https://amzn.to/2k4LACS.
If anyone clicks on that Amazon affiliate link in your YouTube description and purchases the product (or anything on Amazon) within a 24-hour period, you will get a small commission. This commission is usually around 5%.
This can really add up, any of the following factors will help you make more money.
- Higher priced product = higher commission per sale
- More people click on the link = higher click-through-rate
- People who click are most likely to buy = higher conversion rate
Other Company Affiliates:
There are so many companies online that offer their own affiliate programs, and most have larger commissions and longer cookie times.
When you are visiting websites, check out their “affiliate” or “partner” links and find out about how they give commission and how much time that they give you.
Be careful as there is a lot of junk out there, so it is important that you pick and choose what product you are recommending. Try not to sellout for the highest commission.
If your YouTube channel is honest and has a lot of reviews that are real, people will find that your sight is more valuable and chances are, they will continue to visit your sight often. This is better than making a sale from one person at one time. Honesty is the best practice; we both know that to be true!
Tip 2: Using YouTube Ads
This is a standard way of making money because YouTube only keeps 45% of the revenue that you can generate from ads on your channel. That means that you get to keep 55% of the revenue. What type of ads that you have and how relevant they are depends on what your audience is and what kind of content you are trying to advertise.
What is the Value of My Audience?
Google, like other sites, uses a system that places bids in order to figure out how much money advertisers will pay for certain ads, keywords and the content of the ad.
If you have an audience that spends a lot of money, chances are that your ads will be worth more because the ads will spread quickly and will generate more revenue.
Tip 3: Selling Products
We talked about selling other people’s products but you can use your YouTube channel to sell your own products. Using Shopify is a great way for people that are just beginning to sell in E-commerce.
Shopify is perfect for someone new to E-commerce, it is user-friendly for adding products, handles sales, handles payment shipping information, there is a good reason why it is one of the most popular selling tools.
Tip 3.5: Create A Product for Your Already Established Audience
If you already have an audience that loves to get on your YouTube channel and see products that you are selling, find new products to sell to this audience. You can really make a sale by finding real products to sell to your audience.
Try to find something that you know that your existing audience will love. This product doesn’t have to be a new product, and if you think it is a bit overwhelming to do it all on your own, you can partner with another company and they will help you out by adding your name to their product. If you want to check out how this works, look at ninja’s mouse and Pewdiepie’s Gaming Chair. There are so many companies out there willing, and eager, to work with YouTubers.
Another great idea is to make videos of the product you are trying to sell. Make sure that the videos are fun, engaging and that they completely promote your product. When you link your description, make sure that your link will reach your audience and will take them to your store at Shopify.
Tip 4: Drop-Shipping
If you do not want to sell your own product or if you don’t have a product of your own, you can sell products that do not even belong to you. This type of selling is called drop-shipping and you can make a ton of money with or without having a YouTube channel (even though you can make more with one).
Use what you have learned already, create a Shopify store and sell things that another store sells and put a markup on the price. As simple as that.
Tip 5: Try streaming then post the recording (for gamers)
Live streaming is a big deal now, and if you are a gaming then you should look into streaming on channels like Twitch. But even if you don’t have any followers, start recording your content, and re-purpose your content on YouTube.
Some of the biggest YouTubers are actually gamers, and post content from their gaming streams on YouTube, huge names like Pewdiepie, Ninja and Dr Disrespect.
Tip 7: Get a Sponsor
When you have a sizable following, you’ll become attractive to sponsors and some will want to be connected to your channel, or your personal brand image.
Usually, brands want to see a measurable return on investment, and this can be confusing for YouTubers who are new to the business side. That is why New-Tubers do better with an agency.
Agencies will often tell you how to brand your channel correctly to increase your value, as well as give you a simple strategy, a short conversation with an agent at the start of your YouTube career can do wonders commercially speaking.
Tip 8: Be a speaker
As you become more popular you may start to be seen as an expert in your own niche or even regarded as a minor celebrity and get invited to speak at events.
Speaking jobs can make you money directly and indirectly by increasing your profile and credibility, plus you get to travel all over the world for free.
Doing just a few speaking jobs can boost your moral and make your brand more credible. You can also make a lot of connections and this can lead to more business for you.
Tip 9: Crowdfunding
Using crowdfunding is underused. This is where you get your YouTube audience to help you with a new project, your audience may want to follow you just to find out how your products gets on.
You can even get followers and subscribers directly from Indiegogo and Kickstarter. If they like your product page, chances are they will be attracted to your YouTube channel.
Tip 10: Make a Web TV Series
You can be the star in your own show.
Having your own Web TV series is like having your own Netflix channel. This is perfect if you want to showcase your acting, or film-making skills. At the very least it will be your show reel to get jobs.
Make sure that your series is regular and consistent so that you will always have new people checking out new episodes.
Have a good camera or that you hire a videographer and make sure that you are entertaining and fun.
Tip 11: Teach
Another way to make money is to use the knowledge that you have to teach people with video tutorials. You can make money by charging subscriptions for these channels.
You will be able to make your own website and make videos and even sell things. You can even use sites like Udemy to sell your courses there, and…. You can sign up to their affiliate program and get commissions on people buying your course.
Tip 12: Email Marketing
Have an email list that is always growing. Email lists are valuable when you know what your customer wants to see, or what they are interested in. So, when you have a product suited for them, then you can reach out to them with an offer.
You can easily store addresses and set up email campaigns using tools like MailChimp.
Give Away something to get email address’
Giving away free things can quickly build an email list. For example, give them a top ten list on how to do something, or some sort of info product, the reason for the info product is that it is free to replicate.
Once you have your list, start being creative about how to make money from it.
If you can make your YouTube channel great, you can make money.
Be patient and keep trying until you are able to build trust with your viewers. There is one strategy that people always recommend, to ‘give first’. Remember, people love free stuff or insightful information so always be willing to give.
Article provided by VloggingHero