To make money from YouTube in the comfort of your own home is the dream, am I right? It’s why many of us become creative entrepreneurs in the first place!
There are multiple avenues and revenue streams we can take advantage of to build our creative business, but it’s just knowing how to use them. Oh, and did I mention it is becoming an increasingly saturated market?
The online world is now filled with amazing men and women, using their creativity to build a brand. It’s amazing that this new generation of millennials have found a way to use the technology around them, but the owners of these technologies are starting to cotton on that people are making money using a largely free platform.
You can easily start a creative business using a free blogging platform and a YouTube channel, but it’s now becoming harder with companies like YouTube starting to move the goal posts for those who qualify to make money.
Where do you start?
Well, the first place would be to define your niche and content topic. I’m not going to go into how to do this, that’s another blog post. Once you’ve got that down, you’ll be able to analyse your competitors, see what they are creating and become inspired by their content.
You also need to have a clear idea of who your audience is, how they use the internet, how they communicate and how engaged they are. Your audience are the ones that are going to determine whether you make any money from your channel, so treat them nicely!
Monetizing your videos
This has become very difficult for smaller content creators over the last few months, as YouTube have now said that only channels with over 4,000 hours of watch time and 1,000 subscribers are eligible for monetization. That means, your viewers just got waaaaay more important to your income!
How do you reach these thresholds I hear you say? Well, you have to put your audience at the forefront of every piece of content you create. Run polls to see what they want to see next, ask them if they have any burning questions you could potentially answer in a video. Make content that people want to watch and do it consistently!
You should also be doing keyword research to find out what people are actively searching for. If you can get your video at the top of YouTube search results for a popular search term, you’ll be laughing all the way to your Google Adsense account.
Work with brands & businesses
You need a fairly large and engaged audience for this, but if you’ve followed my advice and put your viewers needs first, it won’t be long until you have your own awesome community!
There are a few ways YouTube creators work with brands:
Sponsored contentThis is when a creator has been paid to create a video, but the brand or business paying them has had no hand in the planning or the creation of the actual content. The YouTube creator will create whatever content they feel best serves the brand and their own channel.
AdvertisementsAn ad is when a brand has paid a YouTube creator to create content around a specific product and they have specified information that needs to be included in the content itself. As an example, if you watch a video and the content creator mentions that they use Audible and then goes off into a bit of a spiel about the service, that is an ad.
GiftingGifting is when a brand or company offers the YouTube creator a physical product, service or experience, but does not specify how the creator should talk about it. So it might be that a beauty brand has given a beauty blogger a new foundation to try, but that is where their influence ends. They have no say in what content the creator makes around the product that has been gifted.
Creating your own products and services
This is where most YouTubers get their revenue. They use the audience they have built over time, to sell their own products and services. Think Zoella and her lifestyle products, Tanya Burr and her makeup line, Pixiwoo and the Real Techniques brushes.
When you first think of your niche and subject for your videos, think about the future and what products you could create for your audience to build a revenue stream.
Here are a few examples to get you going:
- Ebook on makeup tips
- Online makeup courses
- Branded makeup bags, brushes, t-shirts, general merch
- Online courses
- Exclusive video content accessed via a membership
- Ebooks/ Physical books
- Branded merch e.g. stationary, greetings cards, notebooks or diaries
- Inspo quotes for use as desktop wallpapers, mobile wallpapers etc.
The key to making money on YouTube
If you’re looking for a way to make easy money, YouTube is not the way. Creating amazing video content that turns viewers into fans and fans into paying customers, takes a lot of time and creativity.
Too many people think that creating content is an easy way to make money online, but it’s the opposite. To create one of my 10-20 minute YouTube videos, it takes about 1 hour to actually set up and write notes, 45 minutes to film, another 1 hour to get the footage uploaded to my laptop and around 1 day to edit it (depending on how fast my laptop decides to be that day).
The value of any YouTube channel is in the audience, remember, your channel and videos are a marketing tool. Even my tutorial videos are a marketing tool for my overall business. I love making them to help people, but at the end of the day, it is how I get my brand out there to a wider audience.
Put your viewers first, create high-quality content that they can enjoy or find useful and you’ll be well on your way to making money from YouTube!