A Guide to Making Money on YouTube
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Second, behind Google, YouTube is the most widely searched platform in the world. Approximately 2 billion users per month are on YouTube, not to mention every minute there are approximately 500 hours of content uploaded to YouTube channels around the world. Certainly, these are some staggering numbers. That said, there are a ton of potential YouTube subscribers out there looking to figure out how to monetize their efforts. Plus, numerous companies globally speaking take to YouTube to try and generate more revenue. So how exactly do you do this? What are some ways you can utilize your YouTube channel to make some real money…whether you're an aspiring YouTuber or a company looking to boost their bottom line. Keep reading to find out more!
This one is fairly self-explanatory. YouTube as it is such a pervasive platform represents a golden opportunity to promote your products. Everyone from big-name celebs to some Fortune 500 companies has utilized YouTube for just this reason: to sell their wares. Why aren't you taking advantage of the platform to generate more exposure for your products and/or services?
It is a pretty simple process. First off, you need to nail down the productservice concept (if you already haven't/). If you are thinking of launching a new product, a YouTube exclusive may be a great way to introduce it. Then, of course, it's a matter of figuring out where to source the goods from. If especially, you foresee orders on a large scale, you're going to want to work with a manufacturer or wholesaler. Numerous online resources can point you to one that specializes in your type of product.
Next, make sure that you have a landing page in place. Ultimately, the YouTube video is your promotional tool and it will serve to funnel users to the website or landing page which then highlights the productservice and provides that pivotal call to action.
Finally, there is nothing left to do but to go ahead and produce the video. If relevant, try and demo the product or service in this clip. Also, you might want to see if customers who've already worked with you are willing to go on camera and talk about how satisfied they are. And remember to always include that critical CTA at the end of your video.
Not everyone who makes money on YouTube is an influencer. Sponsored content enables you to negotiate with a brand and bonus, you're not giving YouTube a cut of the profits. Many YouTubers make some pretty decent money in this way.
The key is to identify relevant brands. And the larger your audience, the more connected to their target demographic, the better your negotiating position is. First off, you want to find that brand that looks like it may be a good fit. In doing this, you need to know exactly what your worth is. In other words, what are you bringing to the table and how ultimately are you benefitting them.
Once you do have a potential partnership in place, make sure that above all else you remain transparent. Follow all relevant guidelines and most importantly be candid with your audience about the fact that it is sponsored content and you are in essence advertising for a partner brand. Your best bet is to have a visible disclosure connected to the video so that people watching understand exactly what is going on.
Have Your Audience Pay Direct
The one key, regardless of your YouTube strategy, is to make it as easy as possible for your audience to pay you. Whether you're a company or an individual, you want to allow for straightforward transactions without too many complicated layers involved.
Have you looked into Super Chats? To be eligible to host Super Chats, you first have to be a YouTube partner. Once that's done, then you're all set for your Super Chat with fans. Basically what this involves, is letting viewer comments become highlighted and pinned, based upon what they pay during a live chat. This feature was made available in 2017 and has since become a popular way for those on YouTube to try and generate some money.
Additionally, with this strategy, you want to encourage your fans to become actual channel members. This is essentially where they pay you to officially subscribe to the channel. In this way, they gain access to exclusive content as well as live chats. You might also offer specialized emojis and badges to those who pay to subscribe. There generally needs to be a promotional strategy behind this. Some who try and get users to pay to subscribe have a tiered membership system.
Promote Speaking Engagements
Many who utilize the platform do so as just that…a platform. In other words, because they may have some unique insights or some expertise on a particular subject, they promote themselves, their talents, their knowledge and consequently highlight their availability for speaking engagements. By the same token, if they happen to be giving a speech at an upcoming conference, they also might encourage fans to pay to attend their lecture, course, or other such speaking engagement.
YouTube does have a ton of possibilities when it comes to monetizing. It's about being creative, thinking outside the box at times, and understanding where your particular strengths lie, what your appeal is and how you can optimize these.
If you need additional capital to help launch a new marketing campaign on YouTube or any such platform we can help. First Union Lending assists small businesses and entrepreneurs when it comes to getting the cash they need for whatever project they have in mind. From providing short term loans to merchant cash advances, our loan programs are truly fast and flexible. And even if you have a less than stellar credit score, we can still likely help you find the ideal financing solutions. Call today!