Some people think having a YouTube channel can make you millions and some people think having a YouTube channel will not make you any money at all. You don’t actually need millions of subscribers to “make all the dollar”. To be truthful all you need is a small loyal following. As always the most difficult part of any YouTube business is getting viewed and creating great content, but once you’ve got an audience then how do you turn them into new customers. The key to this is to have a plan for the future and have a goal, but you need to know what way you want to make money from your channel. Here is just 5 of the many different ways you can make money from your YouTube Channel:
1, Digital Products
A popular way for creators who are seen as “experts” in their field. These are popular by any creator who creates tutorials or “How to” videos. For example, a creator who makes guitar tutorials on how to play a certain song on the acoustic guitar. The creator can then create a training programme on their website which means their audience can learn the basic techniques or advanced techniques or both. They can record the video(s) then they can be purchased from their website and the customer can learn things they wouldn’t get from the normal YouTube channel. You have to offer something more or offer something more convenient to the audience.
Another example of this would be a business coach who has started a channel and they want to sell a guide on “how to create a winning business plan” for example. They keep educating their audience with great content with hints and tips from their experience on their YouTube channel then at the end of the video the coach will up-sell a £20 business guide on creating a winning business plan. The audience clicks on the link and links through to the website where they can buy a digital copy of the business plan guide. So this means the business owner can create a product that has only cost them time because its digital and once they’ve already made the guide they can get paid for it over and over again. Jackpot! Want to see how to make millions from this then go look at Joe Wicks the Body Coach, look at his website and at the 90 day plan which is a great digital product which doesn’t involve him.
I want to start this one by saying not every channel can sell a good amount of merchandise. One of the amazing/worrying things you can see on your channel is the analytics. The demographic is so key to what you should do to monetise your channel.
If you have a gaming channel or a fashion brand or beauty brand then merchandise is a great way to up your income. If the channel is hitting younger people then they are more likely to purchase branded products like t’shirts, bags, hats and everything else that can be printed on. But remember to think about the age of your demographic. A great example of this is a beauty vlogger selling a branded makeup bag. It can be easily showcased in a video, easy up-sell at the end of a video and a great product to go with the interests of the audience. But if your demographic is 45-55 year olds are they going to buy your branded snapback hat?
3, Ad Revenue
This way the game changer for YouTube. Selling ads on creators videos and splitting the profits with the creator (yeah its not an equal split but don’t fight it). Over the years YouTube has changed the way creators can get paid for their videos. They’ve stopped people getting paid for one amazing viral video but this means the creators who consistently create good content get the income. I’m not going to lie, this is the hardest way to generate large amounts of income compared to the other ones on this list. You need views, lots and lots of views. You need to churning out content so quickly you can easily lose sight of the enjoyment you had for creating content.
So your ads can range from $0.50 to $10 per one thousand impressions. So if you create a video and you get the minimum $0.50 CPI (Cost per impression) and it gets one million views then the you’ll get $500… not that much to say you’ll just got 1,000,000 views! But to constantly getting one millions views every week is a tall ask for any newish channel.
However if you create 2 videos a week getting 150,000 views on average can get a $2 CPI then you can look at getting $2,400 which isn’t bad but remember one of the great things about YouTube is that once you’ve posted a video then it’s there forever and it doesn’t disappear like other social media. If someone searches for your video topic then your video will still come up in their search results. One thing I stress to clients is that YouTube is a search engine, so make sure your videos are timeless and not just their for a quick watch and disappear because you can still be getting income from videos you made 4 years earlier.
I like this one. I’m an absolute badger for seminars and events. I love learning about experts and gaining knowledge from key people of influence. By putting on events for your audience to enjoy what you do, learn more about what you do or just simply meet you means you can earn income from what you enjoy doing. Let me just give you some examples of this:
So you have a car channel where you speak about your car and showcase some of the luxury locations and cars you visit and the great roads you drive on. The demographic is 40-55 year olds. You can easily put an event on where at a premium your audience can pay to spend the day/weekend with you and other car enthusiasts at a certain location driving great roads and enjoy the lifestyle you show on camera. This is where you only need a small number of very loyal viewers to understand the events you put on. They obviously won’t be cheap events but they’ll be for the high net worth customers you want. Or you can simply charge people to spend half an hour with you driving around a track in your car. Simple! Two different ways to cater to similar demographic.
Another example is a property investment channel where you educate people on the buy-to-let market and the do’s and don’ts of property investments. Put on a seminar to learn the basics or more in-depth techniques of property investing. Charge £20 a ticket obviously look at where your audience is from but you can always change locations at any time. Your marketing can be minimal because your YouTube channel is doing that for you and if you can get 200 people to attend then you’ve made £4,000 in one day. Not bad for a days work.
I can go on and on about these for days because there is so many different variations you can do. Have a think about what awesome events you could do!
Do you think the Kardashians and other A list celebs are the only people who get sponsorship deals? YouTube hits more 18-30 year olds than television, so you can understand why businesses are looking at reducing costs and contacting YouTube channels to showcase their products.
A brand will only usually work with a channel which are in the same industry or have both got the same demographic. For example Aston Martin are not going to sponsor a beauty channel and MAC make up are not going to sponsor a car reviewing channel, I know its pretty obvious but some people see what one channel gets and expect their channel to get the same.
Some brands will send you freebies for you to showcase on a channel, some brands will pay to sponsor the video and you’ll have to do like a 60 second sales pitch. Each have their benefits but remember getting free stuff isn’t going to pay your bills but in some cases you can get exclusive gifts which result in more viewers and more exposure so just make sure you think about the pros and cons when it comes to accepting sponsorships.
It’s better to get one good sponsorship deal than loads of different ones and make sure your content comes first. You don’t want to become a sales channel because that is not what your audience came to your channel for. Content first and then try incorporate the sponsorship into video, remember to be honest with your audience with sponsorships and make sure that brand represents your channel.
So there you have just five of the many different ways to make money from your channel. Obviously you need a good channel first but don’t think you need millions of subscribers to make an income you just need the right loyal audience and great content. I’ve seen people make a lot of money from as little of 1,000 subscribers… If you’re thinking “I should start a YouTube Channel” or “I’ve always wanted to start a channel but I don’t know where to start” then think about getting in touch and T’Rex Media House can get you on your way to starting your own YouTube business. We’ve got a starter pack ready for you or all kinds of YouTube training perfect for you!
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Blog wrote by Alex Bairstow
Founder of the T'Rex Media House