Creating digital content is a new way of making money in the 21st century and Youtube is one of the platforms that allow you to distribute your video content. People make smart and cool cash, working their butt off on YouTube.
Productivity is measured differently these days; results or remunerations do not come from the number of hours burnt on a task. Results in the 21st century come from doing the right things.
As a smart entrepreneur, you have to know what the trends are and ensure you are doing the right thing for your business. Am I doing the right thing? That’s the question you should always as yourself. Content is king and the number of people who consume video content is increasing by the day.
I will like to assume that everyone knows about the platform, YouTube but, so we are on the same page, I will throw a little light on the platform and how it works.
What Is YouTube?
YouTube is a video sharing platform that allows users to upload and watch videos. It’s headquartered in San Bruno, California, and was founded in February 2005 by Chad Hurley, Steve Chen, and Jawed Karim. In November 2006, Google bought the site for US$1.65 billion. So, Google operates the platform as one of its subsidiaries.
YouTube has evolved from what it was and has well over 300 hours’ worth of video uploaded every minute from different parts of the world. Also, it’s known as the second largest search engine in the world after Google.
See Also: 10 Tips on how to save money monthly.
How YouTube Works
Some features make the platform work and we will look at some of these features.
YouTube videos comprise contents in audiovisual format from different fields and topics. Usually, YouTube videos are posted online by YouTubers via their channels. Videos posted on YouTube can also be shared to other social media platforms, email, and websites.
The view the channel owner sees is different from what viewers see. For the viewers, they like and watch videos on posted channels. If a viewer likes the content of a particular channel, they can subscribe to the channel.
Once you subscribe to a channel, a notification will be sent to you when new videos are posted on the channel. Subscribing to a channel is done by clicking on the subscription button of the channel.
YouTube Channels enable users to share content about their business, brand, or passion. You have the liberty to customise your channel and add information like a brief description of your brand, contact information, website, etc.
Users can group videos uploaded and create a playlist. Having a channel makes it easy for people to see and watch your content. Viewers can subscribe to your channel so, they can receive a notification when you post on your channel.
Another feature you will see on YouTube is YouTube Analytics, a self-service analytics and reporting tool that provides data about each video posted. It’s also called ‘result sheet’ and helps users track views and viewers’ details.
YouTube Analytics provides information about; viewers, referral sources, countries where your content is most popular, comments, and ratings.
YouTube integrated advertising into its platform that makes it possible for businesses and individuals to promote their brands.
Making Money on YouTube
You can monetise your YouTube channel, but there are conditions. First, you need to build your audience. Every YouTube user who wants to make money from the platform must grow his or her subscriber base and watch hours. The number of subscribers you have and the watch hours will determine how much you make on YouTube.
These tips will help you make money on YoutTube.
1. Monetize Your YouTube Videos
YouTube uses Google Adsense for monetization. Adsense places adverts on your videos, then pay you per view.
A 2018 YouTube policy that qualifies one for monetization states that, for a channel to qualify for monetization, it must have at least 4,000 hours of watch time within the last year and at least 1,000 subscribers.
To check if you are eligible for monetisation, click on your profile icon, then click on YouTube Studio. By the left-hand corner, you will see the monetisation tab. Click on it, if you are eligible to monetise, the steps to follow are self-explanatory. If you are not, you will be shown a message that reads “You are not eligible for monetization”.
2. Get YouTube Video Sponsors
Another way of making money on YouTube is by getting sponsors for your video content. YouTube video sponsors are companies or brands that pay popular Youtubers a fee to promote their product or service in their video.
On YouTube, having sponsors pay you to advertise their products or services have proven to be a huge avenue for making money in Nigeria over the years. It’s a win-win situation for both parties; the sponsors get visibility for their products while the Youtuber makes good revenue.
However, getting a sponsor is not a walk in the park. You need to reach out to brands you want to work with a detailed proposal of what they stand to gain if they pay you.
The great news about this source of revenue is that you don’t have to pay any fee from the sponsorship deals to YouTube.
3. Sell Your Product Or Skills On YouTube
Thirdly, to make money from your YouTube channel, you have to know your subscribers and audience then tailor your content to meet their needs. By understanding your audience, you can create content that is relatable to them.
With the right audience, it then becomes easy to market and sell your products and services. The type of audience you have will inform the type of product or service you will sell to them. Basically, your YouTube channel can be used as your Online Store.
4. Partner With Other Brands For Commission On YouTube
In this approach, you partner with other brands to sell their products in exchange for a commission. This type of partnership is called Affiliate Marketing. It involves using your Youtube channel to direct your audience to an affiliate website through your affiliate link so they can purchase a product or service. When they make a purchase, you earn a commission.
For example, multinational companies, like Amazon, offer attractive deals to associate marketers for promoting their merchandise on their channel. Also, there are affiliate marketing programs in Nigeria like; Jumia affiliate program, Konga affiliate program, and others.
YouTube is a great platform to build a brand and make money. If you want to make cool money creating content on YouTube, you have to consider it as a full-time job.
New channels are created daily and old YouTube users with relevant channels are cashing out in millions. Every time you view a video over and over that video probably earns the creator thousands of Naira. So, tap into this opportunity today and earn yourself some income by following the steps we have discussed.