The monetizing possibilities of YouTube are practically endless. This is amongst the most influential platforms in the world if you are looking for some revenue. As soon as getting your first 100 YouTube subscribers, you should now start aiming to reach your financial goals. And for sure it is no easy task.
Growing an economically successful channel on this network requires a lot of devotion and planning. And besides that, you should also understand that there are certain factors that are defining the numbers that you can gross as your income. The impact can be bad, or good. And in this article, you will find out which factor would benefit you, and which will let your income go down.
Watching the lid entrepreneurs on YouTube, you can think that this platform is a gold mine that spits money at everyone who hits a certain number of followers and Watch Time.
That is not true, sadly.
The top bloggers in the industry may use youtube as a prominent source of income, but that has to be supported with a huge fanbase, which provides additional earnings. The majority of bloggers on youtube cannot afford to abandon their current job.
Nevertheless, a working channel is a good method to earn some extra money and achieve self-realization goals as a pleasant bonus. And there is always a chance that you will get to the top-rated YouTube personalities as well, who knows. All you have to do is to try hard.
How To Start Monetizing Your Videos On YouTube
There are six types of revenue that are available for creators:
- Advertising (overlay, display, video ads).
- Channel membership ( the members have to pay a monthly tax and you must offer some exclusive products or content in exchange).
- Super chats and Super Stickers (your followers can give money for making their messages accentuated in super chats).
- Merchandise shelf (the access to official merchandise of your channel and persona).
- YouTube Premium (users pay to become Premium subscribers of the community, and the part of their monthly payment goes to you).
To get your videos monetized on this network, you will have to assign to the YouTube Partners Program (YPP). To be ratified, your content must be meeting all the requirements that are listed in the YPP guideline.
The policy of Youtube that regulates this matter is strict, which is why your channel will be surveyed before you are accepted to the Youtube Partner Program.
And without any doubt, the examination will be tough. Even when you are accepted, your content will be reviewed from time to time, so you should check on with the official guideline quite often for your own good.
Interesting fact: the policy of YouTube requires that the person who wants to monetize the channel, has to be over 18 years old. However, one of the most economically successful bloggers on YouTube is Ryan Kaji, who is currently a nine-year-old kid.
His estimated income last year went over $26 million, making him one of the richest YouTubers in the world.
The Subject Of Your Content
The niche that you are going to occupy is one of the key factors that can improve your income.
This is a complicated matter because to understand it, you must do huge research on it. Some topics are more expensive than others.
For example, travels are a rather fruitful topic, because many advertisers are putting their ads in. The same effect would go for beauty makeovers and food-related videos. On the other hand, reviews in any theme are less monetized, unless you make kick-ass content.
And that is a rare pearl.
Uniqueness And Value Of The Content
This point is the hardest to complete as the competition in this platform is enormously high. And the same point is also what can build you the road to the top ratings.
Coming up with a fresh idea or giving an unusual look to common things is a talent, and it is highly appreciated by viewers.
Educational and informative channels could be an easy method to gross stats a few years ago, but now you have to be experimenting and invent new ways to show things that are known to people too.
Personal flair plays a grand part in this matter. On social media, people want to be entertained… by other people. You must learn how to become a leader of thoughts. If you have a well-developed persona or a brand, you will get a lot of attention from users on YouTube. And they will eagerly buy your merchandise if you have a possibility to create it.
Connection With Your Audience
Being close to your fans is very important for a blogger on YouTube. These people are your power. They are what give you the possibility to grow and continue producing content. And for sure, they can support you financially. There are some strategies to get additional income from your fans, that are built-in YouTube, like Merchandise shelf and Super Chats.
But also, you can earn extra with such instruments as:
These services are basically personal fundraisers, where people can support your work with a monthly donation – 1 dollar at least.
You can sell there your exclusive merchandise and info products, on Patreon you can even upload exclusive content for your patrons. There is also a function that sets a goal, and it can work as a stimulation for your patrons to reach it. Remember, that you should not be shy asking for donations.
As a creator, you have a lot of work to be done, and it requires your time and resources. It is normal to ask for a reward. Besides, donating is completely voluntary.
Frequency and consistency are your best friends.
To get revenue from your channel, you must have a stable flow of views. Having wavy stats is not effective. So you must work for the constant attention from users.
That can be done if you post often enough. At least you have to upload a video once a week. Doing it twice or three times a week would be perfect – and posting four and more videos will only let you down, as your blog will be considered spammy.
Your main characteristic to cherish is the Audience Retention. This metric shows the time spent on watching your content. So you have to upload interesting videos frequently, to get this metric to work in your favor. Also, keep track of rebound users – the ones who watch your videos all the time.
These people may be your fams, and it is useful to bond with them.
And never forget to keep up your engagement rates – are your follower liking or disliking, commenting, sharing your videos? The more they do, the better it is for your income. YouTube algorithms consider videos that get a lot of engagement to be more successful. Thus it is literally your chance to get your content into YouTube trends.
As it was mentioned before, you should not count on YouTube as the main source of your income. But even with this information known, it is possible to make more money for your development if you consider factors that can improve your performance.