“How to earn money from YouTube.” Sound good? Now, I’m sure we’ve all heard of those special and creative few that have made it big on the ever popular YouTube, vlogging about what they enjoy doing, or that one guy that managed to turn a hobby into a cash cow by racking up fans and keeping them coming back with a never ending reel of fresh, unique, and useful content.
But could you possibly be one of those lucky enough to live you dream doing what you love, and not constantly worrying about the status of your employment and your ability to sustain yourself for the foreseeable future. Can this be the avenue you need to explore that could one day make way for you to tell your boss “deuces!” and finally be free from you job?
Yes, It’s very possible to make money on YouTube… $$$$
YouTube just happens to be the second largest search engine on the web. With over a billion users and over 400 hours of video uploaded onto the site every hour, YouTube has made the phrase “15 minutes of fame,” commonplace in our everyday lives. YouTube has allowed everyday people like you and me easy access to notoriety and fame.
Pretty much anyone with a computer, digital camera, small time audio equipment, and video editing software, can produce quality content that viewers can enjoy, and at the same time earn the creator some cash on the side. How likely is it though? Can you make a fulltime income from YouTube videos? Or perhaps, even a fortune?
There’ve been several notable and highly successful ‘Tubers’ out there that we’ve all heard about at one point or another. From the well-known Mimi Ikon, whose monthly income sits at around $40,000, to the ultimate YouTube king, PewDiePie, who generated up to $12 million in revenue last year.
So How do you make money from YouTube?
Your primary revenue earned from YouTube will be from ads. There are a few different types of ads though, and you can use them in combination… But, there is one thing you have to focus on before you even consider monetization. It is the very thing that separates the success stories from the less than mediocre.
You need views… in other words, TRAFFIC!!
Before you even dream about the idea of earning endless coin while you sleep on a coconut tree hammock on a private island, you have to realize that in order to earn revenue you need a continuous flow of traffic. The more traffic you can bring to your channel, the larger the audience for you videos will be, and therefore the more chances for you to earn some revenue.
When it comes to making money online, content is king.
As you probably already know, what drives traffic (your audience) to your slice of the internet is content. It’s also what keeps them coming back. Whether it’s a YouTube channel, a blog, or a networking site, valuable content that attracts, helps, or simply keeps people entertained, is the type of content that will earn you money. And I’m sure we all want that.
Ad revenue… They watch, you earn…
One way of earning money is to become a YouTube partner and then sign up for google adsense in order to get paid. After enabling the monetization option, you must then choose which videos to then monetize. There are 4 main ad types to select when deciding to monetize your videos.
Display ads are ads that show up on desktop versions of YouTube. The are pretty much the standard, basic, traditional ads that you’re used to seeing. they are usually positioned on the top right area of the site. You can earn money when a viewer simply sees, or clicks on this ad. Unfortunately though, these ads are the lowest converting due to the least likely occurrence of an impression.
This advertising format converts a little bit better, but not by much. When your video plays, the ad will appear based on where you choose for it to activate. Viewers can click to remove the ad from view, but you only get paid when they click on the ad.
In “skippable” ads, you gain the ability to skip an ad when the option becomes available during the ad. Usually, after 6 seconds, a “Skip Ad” option will appear towards the bottom right of the video where a viewer can then click out of the ad if desired, and continue onto the video. You only get paid when a viewer watches at least the first 30 seconds of the ad or it’s entirety if shorter. These are the highest earning of all ads because they offer the best experience for the viewers as they don’t get in the way of the content causing less instances of viewers clicking out of content.
Yes, as you guessed it, these ads can not be skipped. They can range from 6 seconds to at least 15 seconds. They convert lower than skippable ads. You can expect to earn anywhere from $4 to $7 every 1000 views threw YouTube monetization in general. I would not recommend this type of ad to be used as your sole form of advertisement.
Here’s a look at a snap shot of your earnings at $4-$7 per 1000 views.
(assuming 33,000 views per day)
Estimated Daily Earnings
$154.10 – $241.20
Looking at this scenario, you’d need between 990,000 and 1,020,000 views a month in order to reach a consistent and livable source of income. So you’re looking at either producing several videos with mediocre quality content, or a few videos with extremely good and attractive content. In addition to this you need to consider the fact that it take years to develop the fan base and type of following that gives you those sort of views.
If you plan on making money on YouTube through views and user engagement alone, then you’ve kinda got your work cut out for you. It would take an enormous amount of dedication and hard work to do this full time, so if that’s for you, then it’s best to have a channel centered around something you’re extremely passionate and knowledgeable about and willing to go that extra mile for.
The best way to leverage YouTube
So we know that relying solely on views for revenue takes a lot of dedication and time to make a reality. In order to make your commercial use of YouTube worth while, it pays to be a little efficient in how you use the platform. There are many was to leverage YouTube to work for you, instead of the other way around. Here are a couple of ideas…
Drive traffic to affiliate links.
A lot of you guys are familiar with affiliate marketing, but taking an existing blog full of reviews and affiliate links, and adding an exciting and entertaining YouTube videos related to your content, can sky rocket your revenue if used correctly. Podcasts, video reviews, and even interviews could add to the legitimacy and authority of your blog site.
You don’t need millions of views to keep you afloat revenue wise. “Views” and “impressions” aren’t the only income stream you need to rely on. Combined with search engine power, social media, and youtube, you now have several different avenues of generating traffic. So don’t rely on at even attempt to rely on trying to earn money with just “views” alone, unless you don’t mind waiting a few years to quit your day job.
Direct traffic towards your own product. 😎 You are the boss…
The best way to leverage YouTube in my opinion is to use it to market your own digital information products. Instead of relying on other peoples advertising efforts, you can be the advertiser and find your customers. Ebooks for example, are a good example. You can attract views to your website through well crafted and very creative video content and increase your conversion rates and sale just a bit more.
driving traffic to an online ecourse is an incredible way to utilize the YouTube platform to help turn your business into a success. Whether driving traffic to an online tutoring site like Udemy, or funneling traffic towards your own product landing page on your own website, YouTube can help you find your audience and advertise to them.
Can YouTube become a fulltime income? Well that depends. Are you willing to put forth the effort that all the pros do and build your viewership into a trusted relationship that will last? To be honest, aside from some exceptions out there, It could take years for your channel to develop into a money making machine. Although YouTube is a proven way to make money online, there are still better and more solid ways to make money online. A lot of people that visit blogs like mine aren’t here to put up with the life they are living and the job they happen to be stuck in for another year or two. There are ways out there to give yourself an opportunity to live job-free life. Personally, YouTube is not my style… way too much work lol. Honestly, I’m more of a “set it and forget it” type of entrepreneur.
If you like this article, share it! And if you have something you’d like to add, then leave a comment below!