11. Using YouTube to Make Money Online
The main premise of this opportunity to make money online is that you make videos. If you are into video content, YouTube can be one of the leading platforms to explore in terms of earning revenue for such content.
Firstly, a lot will depend on your community, i.e., the number of subscribers. Growing your audience is the crucial task for you if you want to make a successful career out of YouTube. However, having millions of subscribers is not essential for earning money on YouTube. In fact, you can start making money on YouTube with much less subscribers. The number of subscribers is not the only metric that matters. YouTube takes into account other metrics, such as engagement level, your stats in comparison to other YouTubers in your niche, etc. Still growing your subscriber list consistently is undoubtedly helpful in gradually increasing your potential income.
Think about content first
The content you create needs to be created with your audience in mind. It needs to create trust, encourage engagement and be something your audience will love to watch (and come back for more).
Try to come up with a plan for each video.
- Start with writing a script
- Plan how the whole video will look like
- Create a budget (for example, if you need to buy props for the video)
- Use the best equipment you have (or try investing in new equipment) to shoot better quality videos
- Focus enough time on video editing
Creating a YouTube channel
Having a Google channel enables you to comment and share on YouTube, but this does not automatically mean that you are creating YouTube channel along with your Google account. To create your YouTube channel, you should:
- Visit https://www.youtube.com/
- Click on “Sign in” in the top right corner
- A new window will be opened where you will add your Google account email or phone
You will be taken back to YouTube homepage, but this time instead of “Sign in” button you will see a circle with your photo (or place to add your photo).
- Click on your photo
- Find the option“YouTube setting”
- A new window will be opened where you can use the option “Create a channel”
When creating a YouTube channel, there will be a couple of options for you to add information to complete the whole process. Firstly, you will be able to choose the channel name. It can be your own name, a business name, or some other name.
The next step includes choosing a category for your channel. Also, you will notice that a new Google+ page will automatically be created for your brand.
Once your YouTube channel is created, you should use a couple of options to customize it.
Add channel art – Channel art is a banner visible at the top of your YouTube channel.
- Add channel icon – This icon is shown next to your videos.
- Customization – Use the available options to explore other features you can use to customize your channel
- About – This section enables you to add channel description and links, such as URL link, social media profiles, etc.
Here is how one brand YouTube channel looks like when optimized using the options above.
Start creating content that brings views
Even though there are no universal figures regarding money-making opportunities, what is safe to say is that improving your numbers (number of subscribers, views, comments, etc.) is the best way to succeed with YouTube.
To achieve that, you will need great quality content. Here are some general ideas to have in mind when creating content:
- Make your content about something you know a lot about, something you are interested in, etc.
- Explore your audience and find out how to create content that directly addresses them
- Share original ideas and concepts that will help you stand out
- Collaborate with other YouTubers to increase exposure and gain extra experience
Monetization is a program on YouTube that enables you to make money through your videos. Essentially, you enable YouTube to place ads in a different format in your video. Ad formats include:
- Display ads – These ads are placed next to the video, on the right, above the suggestion list.
- Overlay ads – A semi-transparent box is displayed over 20% of your video with the ad.
- Skippable video ads – Video ads inserted before, during or after the video. Users can skip them after 5 seconds.
- Non-skippable video ads – Video ads inserted before, during or after the video. Users cannot skip these video. There is a length limit for these videos, up to 15 or 20 seconds.
- Bumper ads – Non-skippable video ads up to 6 seconds long.
- Sponsored cards – Sponsored cards of relevant ads (such as products you mention) as a part of your video.
Apart from the fact that monetization program needs to be supported in your country, other requirements include:
- 4000 watch hours in the previous 12 months
- 1000 subscribers
To enable monetization on your channel, go to the channel settings and choose the option “Status and features”. Find the option “Monetization”, check if this is available for you and click “Enable” to start the process.
The process consists of four steps:
“1. Read and agree to the YouTube Partner Program terms
2. Sign up for AdSense
3. Set monetization preferences
4. Get reviewed after reaching 4000 watch hours in the previous 12 months and 1000 subscribers”
Other ways of making money on YouTube
Apart from YouTube ads, there are other ways to earn money on the network. Also, it is important to know that sometimes you can combine a couple of those monetization strategies.
YouTube Premium is a subscription-based feature where members pay a recurring fee to access the platform with benefits such as watching the videos without ads. The revenue with YouTube Premium is calculated based on the time members spend watching your videos in comparison to other content.
Work with brands
This monetization option includes working with brands that are interested in you promoting their products or services. Brands that will be interested in this are usually the brands that have the same target audience as you.
Use your video content on YouTube to advertise your own products or merchandise.
Your community can help you grow your channel by donating funds to support your channel.
If you mention products in your video, you can add an affiliate link in the video description. This way, the clicks will be tracked, and you will be able to make money for converting visitors.
With all these options, you can create success with YouTube. The most significant advantage is the fact that it is easy to start. Most well-known YouTubers, who have earned millions through the platform, actually began recording first videos in their bedrooms. Nothing fancy, no high-end equipment, no production team. Just a desire to make videos and creativity to bring this vision to life.
The greatest drawback is certainly the saturated market and the fact that you will need a lot of effort to generate first views and create a respectable name for yourself in this online community. Even so, it is a strategy that is worth testing if you are talented, charismatic and comfortable in front of the camera.