YouTube is the mother of all video apps out there. From the day the first YouTube video was uploaded in 2005, YouTube has grown exponentially. 500 hours of video is uploaded to YouTube every minute.
Not just this, the consumption of content on YouTube is equally massive. On average, a person spends 40 minutes on YouTube in a single session. There are about 1.9 billion viewers logged in to YouTube every month.
So why does YouTube get all the traffic? YouTube has answers to almost every question under the sun. It is the most popular search engine after Google.
You can listen to music of every kind. You can watch movies or simply get entertained by watching videos uploaded by people like you.
YouTube has created millionaires.
How has YouTube created millionaires?
YouTube shares the revenues with the publishers (creator of a video). For every $100 that an advertiser pays to YouTube, Google shares $68 with the publishers. YouTube gives you the power to earn money through your videos. All you need is a smartphone with a good camera, a computer, and a free YouTube video editor.
Greater the number of views, greater is the possibility of earning money through your YouTube channel. The very first viral video, ‘Charlie bit my finger’ has made $158,560 in ad revenue over the years.
You may or may not become the next YouTube sensation. Yet, there is a possibility for you to earn from a few hundred dollars to maybe a few thousand.
On average, you can earn $2-$4 per 1000 views. If you are aiming to earn $1000, you need half a million views. This seems to be tough. However, if you create about 100 videos with 5000 views each, you can earn $1000 – $2000.
Not just once but continuously. As long as your videos keep getting views. It is the best passive income that you can create. This is just to give you an idea about possible average earnings if you are generating money only through AdSense.
You can earn way more than that if you know how to monetize your channel. Listed here are the 6 most effective strategies to earn on YouTube.
If you run an information channel where you provide solutions to a problem or create explainer videos, you can promote relevant products. Some companies will pay you to promote their products through links on your channel.
These companies will pay you commission for sending traffic to their website, generating leads, or if a viewer buys a product by clicking on the promotional link on your channel.
However, you should be able to win your viewers’ trust before you promote anything.
There are affiliate networks that you’ll need to join. These affiliate networks tie-ups with various companies to help manage video marketing for them.
There are many affiliate programs available on an affiliate network. You need to join an affiliate network and pick products to promote on your channel. For every product that you decide on promoting, you will get an affiliate link. You need to place this affiliate link on your channel.
The most popular way of earning money on YouTube is to become a YouTube partner.
By becoming a partner, you open up multiple earning possibilities from YouTube alone. In addition to AdSense, there will be other income streams available to you.
However, you need to fulfil certain eligibility criteria to become a YouTube partner. Your channel must have a minimum of 1000 subscribers, and in the last 12 months of the existence of your channel, it should have played for at least 4000 watch hours.
If you are 18+ and have 10,000 subscribers or more, you can sell YouTube merchandise on your channel.
If you are 18+ and have 30,000 subscribers or more, you can sell channel membership to your fans.
YouTube Premium also shares revenue with you once you become a YouTube partner.
People are looking for information. They want to solve their problems. Right from changing nappies to fixing a doorknob, you could educate people on resolving problems they face every day. Just get your hands on any video editing software.
If you are a professional, tutorials are the best way to make people aware of the services you provide and your expertise.
Through tutorials, you can send traffic to your website and promote your business.
As mentioned in the first point, you can promote affiliate links through tutorials.
If you’ve created something that people love to watch, but you need resources to sustain it, you can directly ask people to fund your channel.
It could be a monthly subscription for the price of a cup of coffee.
Let’s say you spend $3 on a cup of coffee. If 1000 viewers decide to pay for a cup each, you have your 3000 dollars.
It is like asking for a subscription fee for what you create. People are willing to pay to watch quality content.
There are crowdsourcing platforms like Patreon that help you with crowdfunding in a seamless fashion.
Well, you might be thinking that you need to have millions of followers to become a star. Partly true. If you can have a dedicated fan base who enjoy what you have to offer, you may not become the next big YouTube personality yet can earn a substantial income. All you need to do is add an intro at the start of the video which works as a branding exercise. There are tonnes of online intro makers to make your life easy.
Once you have a loyal fan base, your avenues to earn open up in many ways. You could create your products and sell them through your channel.
It could be information products, t-shirts, merchandise and a lot more
Promoting sponsored content is another way to earn money. Let’s say you talk about technology. There will be companies willing to pay you to promote their products if your content is relevant to their brand.
Your channel could be related to anything. There will always be products related to the content on your channel.
You could make a list of products connected with what you do. You can then communicate with different companies and see if they would like to sponsor content through the channel.
You need not depend only on AdSense to earn money. You can earn money that is useful for you. It may not be a big amount initially. However, you can slowly build your income through YouTube. It all depends on how you monetize your channel.