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I Have 14 Ideas to Make Money on YouTube. Do You Have 3 Minutes?

I Have 14 Ideas to Make Money on YouTube. Do You Have 3 Minutes?

Want to make money online? Becoming a YouTuber could be a good choice.

YouTube gets more than one billion unique users a month: that’s a huge audience.[1] Many people are already making money there: YouTube boasts one million creators in its YouTube Partner Program alone. With every 1,000 views, you will be able to get an approximate return of $2-$4.This might not seem a lot, but if you consider making 100 videos with 5,000 views each, that would already be $1,000-$2,000. That would be a decent amount of money.

    However, it may not be that easy from now on. YouTube has applied a rule to the partner programme. Creators won’t be able to turn on monetization until they hit 10,000 lifetime views on their channel as an effort to remove bad actors in the community.[2] This is a heightened threshold for creators who want to earn a living from YouTube.

    Having a million views on a video is nowhere near simple. Luckily, income does not flow only from YouTube revenue or ads, there are also other ways.

    See YouTube as a facilitator to make money, not a monetizing platform.

    It’s easy to get started, simply use Google’s Creator Playbook. But it’s more challenging what you do with it afterwards.

    If you want to start a journey on YouTube, do not see it as a monetizing platform, rather, view it as a catalyst to further your income source. Here are some ways on how to make money on YouTube:

    1. Use YouTube to get traffic to your website and blog.

    If you’ve got a website or blog which brings in income, you need traffic.

    Many websites were hard-hit by Google’s Panda, Penguin and Hummingbird updates. If this happened to you, you’re hurting. You can use YouTube to not only regain traffic, but also increase it.

    Get started with the Creator Playbook. Once you’re set up, consider repurposing some older content into videos, as well as creating new videos. Make sure that you link to your own website in the first line of your video descriptions, so you can funnel your YouTube traffic to where you want it to go.

      The School of Life is an example of getting traffic from YouTube to their own blog.

      2. Create products and promote them on YouTube.

      If you’re creating your own products or would like to, YouTube offers unlimited ways for you to promote your products and make sales. Products you can create include ebooks, apps, art, and music.

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      Create your products, and add them to a shopping cart. Then use YouTube to promote them. Add a link to your product in your video’s description, so that viewers can buy.

      3. Sell others’ products as an affiliate marketer.

      “Affiliate marketing” means selling products in exchange for a commission. Hundreds of thousands of companies offer attractive deals to affiliate marketers who promote their products, including huge companies, like Amazon and eBay, as well as smaller companies.

      Additionally, there are many affiliate networks you can join. These networks include ClickBank, Commission Junction, and ShareASale.com.

        Amazon’s affiliate program

        To make money from YouTube as an affiliate marketer, review your affiliate products on video, or create “how to use this product” tutorials. Don’t forget to link to your products in your YouTube descriptions – make sure you’re using your affiliate link, or you won’t get credit for sales.

        4. Create a Web TV series.

        Love telling stories? YouTube lets you create your own Web TV shows. You’re limited only by your imagination… and your budget.

        You can create a comedy series, a drama series, or your own talk show. Be aware that YouTube limits your show’s length to 15 minutes. To upload longer videos, you’ll need to increase your limit.

        If you’re a frustrated TV or screen writer, get a few friends together, and record your own TV shows. You never know. If you get lots of views, you may develop a new career.

          Smarter Every Day is a web TV series example

          5. Become a YouTube personality.

          YouTube stars can make a lot of money.[3] PewDiePie, despite having lost major advertisement recently, remains number 1 of the highest-paid YouTube stars with $15 million in 2016. It was estimated that he could receive over $13,000 for a week of publications.

          If you’ve got quirky ideas, or are passionate about your interests, develop your YouTube channel. You never know, you may be the next YouTube star.

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            PewDiePie is famous for doing game review

            6. Monetize your videos with the YouTube Partner Program.

            After you’ve created several videos, it’s time to join the YouTube Partner Program. All you need to do is enable your channel for monetization, and you’ll receive your share of the income from advertising on YouTube.

            Just as the YouTube stars do, you’ll get paid for each thousand views on your videos. Click this link to get started – your first step is to verify your channel.

            7. Teach: share your knowledge with tutorials.

            Tutorials are huge on YouTube. If you know how to do something, you can teach others, and make money from your videos. Beauty videos are popular. Michelle Phan, for example has over 1.3 million views.

              Michelle Phan is famous for doing online makeup tutorials.

              8. Test-market your products.

              YouTube is an amazing resource for market research – you can soon discover whether your brilliant, innovative idea is likely to be profitable.

              For example, if you’ve got an idea for a product, but need funding, create some videos before you create a Kickstarter.com campaign. The views and comments on your videos will tell you whether your idea is viable in its present form. The YouTube audience can even help you to make it viable, so that your efforts to get funding are successful.

              9. Become an expert on metadata: use keywords to get an audience.

              One hundred HOURS of video are uploaded to YouTube every MINUTE.[4] This means that there’s a huge competition for attention. You need to do everything you can to ensure that your videos get found. Your videos’ meta data will help.

              “Meta data” is data which gives information about your videos. In its Creator Playbook, YouTube tells you how to create your meta data:

              To maximize your presence in search, promotion, suggested videos and ad-serving, make sure your metadata is well optimized – your video’s title, tags and description

              Optimizing your videos for search makes the difference between success and failure, so be sure to do it.

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              10. Build your brand using YouTube.

              As marketing guru Tom Peters pointed out way back in 1997, you’re a brand, and you have power.[5] YouTube helps you to amplify YOU.

              Whatever you’re doing, and whatever your job, YouTube can help you to become known for your strengths, and make money. Even if you have no clear idea on how you could make money on YouTube, get started creating videos about your interests.

              You may just stumble across a gold mine… just as the people who turned their pets into stars have done.

              11. Turn your child or pet into a star (and make money).

              Two cats, Lil Bub and Grumpy Cat, started out on YouTube, and have become worldwide stars, with book deals.[6]

                Grumpy Cat and Lil Bub

                As Forbes points out,[7]

                “You do not have to be a singer to become a YouTube star. If you are lucky, you could shoot a video of your child, pet, or a double rainbow that strikes a chord and goes viral.”

                So keep your video camera handy. If you see something cute, video it, and upload the video. (Don’t forget the meta data.) You never know who or what will be the next video sensation. Create that sensation, and you’ll make money. So there you have it – eleven creative ways you can make money on YouTube.

                12. Scheduled videos

                It would be much more easy for viewer to catch your content if you publish it in a specific timeframe in a regular basis. It might also make them more tending to following your channel, which is to subscribe to you.

                It is crucial to have base audience which would always come for your content so that you can ensure your number of views for each video. This also is ensuring a steady amount of income.

                13. Crowdfunding

                Crowdfunding is becoming more and more common with the introduction of Kickstarter and Indiegogo. It could be a great source of money if you have a great idea for a media project on YouTube. Not only does it generate your initial fund, it also contributes to establish audience and revenue for your project in the future.

                For example, famous YouTube channel Corridor Digital uses Patreon as a way to fund their videos or movie projects, with return of special perks for these supporters.

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                  YouTube Channel Corridor Digital 

                  14. Seek sponsorship

                  Lots of company nowadays provide sponsorship to YouTube channels for direct advertisement. A common source would be Audible from Amazon which frequently sponsor knowledge-giving show such as Vsauce and Veritasium. The good thing about it is that you can directly receive the sponsored amount rather than splitting it with YouTube.

                  To reach for a sponsorship you might need to work on a detail proposal about the things you are able to provide. Make sure you know well about your audience and the brand you are approaching.

                    Example of sponsorship for YouTube Channel

                    Bonus Tips!

                    Measure your earning goals

                    It is important to check your progress regularly in order to tell if you are still on the right track in terms of finance.

                    Sets goals for yourself to measure. If you are not meeting the goals. the current way for income may not be working for you, or that the quality of the videos are falling . It might be a signal for you to work on some changes.

                    Be creative

                    Quality content is always the key to attract viewers. And to have high quality content you can never be lack of creativity.

                    The internet is changing so fast that a trend can come and go within a week. New ways for you to gain extra revenue could pop up without you noticing.

                    So be creative with your use of resources. Always explore new ways and ideas for production and you may have unexpected returns.

                    Reference

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                    Last Updated on September 2, 2020

                    How to Set Financial Goals and Actually Meet Them

                    How to Set Financial Goals and Actually Meet Them

                    Personal finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. That’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

                    In this article, we will explore ways to set financial goals and actually meet them with ease.

                    4 Steps to Setting Financial Goals

                    Though setting financial goals might seem to be a daunting task, if one has the will and clarity of thought, it is rather easy. Try using these steps to get you started.

                    1. Be Clear About the Objectives

                    Any goal without a clear objective is nothing more than a pipe dream, and this couldn’t be more true for financial matters.

                    It is often said that savings is nothing but deferred consumption. Therefore, if you are saving today, then you should be crystal clear about what it’s for. It could be anything, including your child’s education, retirement, marriage, that dream vacation, fancy car, etc.

                    Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives that you foresee in the future and put a value to each.

                    2. Keep Goals Realistic

                    It’s good to be an optimistic person but being a Pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going beyond what you can realistically achieve will definitely hurt your chances of making meaningful progress.

                    It’s important that you keep your goals realistic, as it will help you stay the course and keep you motivated throughout the journey.

                    3. Account for Inflation

                    Ronald Reagan once said: “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman.” This quote sums up what inflation could do your financial goals.

                    Therefore, account for inflation[1] whenever you are putting a monetary value to a financial objective that is far into the future.

                    For example, if one of your financial goal is your son’s college education, which is 15 years from now, then inflation would increase the monetary burden by more than 50% if inflation is a mere 3%. Always account for this to avoid falling short of your goals.

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                    4. Short Term Vs Long Term

                    Just like every calorie is not the same, the approach to achieving every financial goal will not be the same. It’s important to bifurcate goals into short-term and long-term.

                    As a rule of thumb, any financial goal that is due in next 3 years should be termed as a short-term goal. Any longer duration goals are to be classified as long-term goals. This bifurcation of goals into short-term vs long-term will help in choosing the right investment instrument to achieve them.

                    By now, you should be ready with your list of financial goals. Now, it’s time to go all out and achieve them.

                    How to Achieve Your Financial Goals

                    Whenever we talk about chasing any financial goal, it is usually a two-step process:

                    • Ensuring healthy savings
                    • Making smart investments

                    You will need to save enough and invest those savings wisely so that they grow over a period of time to help you achieve goals.

                    Ensuring Healthy Savings

                    Self-realization is the best form of realization, and unless you decide what your current financial position is, you aren’t heading anywhere.

                    This is the focal point from where you start your journey of achieving financial goals.

                    1. Track Expenses

                    The first and the foremost thing to be done is to track your spending. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you will be surprised by how small expenses add up to a sizable amount.

                    Also categorize those expenses into different buckets so that you know which bucket is eating most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pumping up your savings rate.

                    If you’re not sure where to start when tracking expenses, this article may be able to help.

                    2. Pay Yourself First

                    Generally, savings come after all the expenses have been taken care of. This is a classic mistake when setting financial goals. We pay ourselves last!

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                    Ideally, this should be planned upside down. We should be paying ourselves first and then to the world, i.e. we should be taking out the planned saving amount first and manage all the expenses from the rest.

                    The best way to actually implement this is to put the savings on automatic mode, i.e. money flowing automatically into different financial instruments (mutual funds, retirement accounts, etc) every month.

                    Taking the automatic route will help release some control and compel us to manage what’s left, increasing the savings rate.

                    3. Make a Plan and Vow to Stick With It

                    Learning to create a budget is the best way to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be organized

                    Nowadays, several money management apps can help you do this automatically.

                    At first, you may not be able to stick to your plans completely, but don’t let that become a reason why you stop budgeting entirely.

                    Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options, and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

                    You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

                    4. Make Savings a Habit and Not a Goal

                    In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that, in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

                    Make savings a habit rather than a goal. While it might seem to be counterintuitive to many, there are some deft ways of doing it. For example:

                    • Always eat out (if at all) during weekdays rather than weekends. Weekends are more expensive.
                    • If you are a travel buff, try to travel during off-season. You’ll spend significantly less.
                    • If you go shopping, always look out for coupons and see where can you get the best deal.

                    The key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice, which will be harder to sustain over a period of time.

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                    5. Talk About It

                    Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission.

                    Therefore, in order to stay the course, surround yourself with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

                    6. Maintain a Journal

                    For some people, writing helps a great deal in making sure that they achieve what they plan.

                    If you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

                    When you have a written commitment on paper, you are going to feel more energized to follow the plan and stick to it. Moreover, it is going to be a lot easier for you to track your progress.

                    Making Smart Investments

                    Savings by themselves don’t take anyone too far. However, savings, when invested wisely, can do wonders.

                    1. Consult a Financial Advisor

                    Investment doesn’t come naturally to most of us, so it’s wise to consult a financial advisor.

                    Talk to him/her about your financial goals and savings, and then seek advice for the best investment instruments to achieve your goals.

                    2. Choose Your Investment Instrument Wisely

                    Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about the common ones, like a savings account, Roth IRA, and others.

                    Just like “no one is born a criminal,” no investment instrument is bad or good. It is the application of that instrument that makes all the difference[2].

                    As a general rule, for all your short-term financial goals, choose an investment instrument that has debt nature, for example fixed deposits, debt mutual funds, etc. The reason for going for debt instruments is that chances of capital loss is less compared to equity instruments.

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                    3. Compounding Is the Eighth Wonder

                    Einstein once remarked about compounding:

                    “Compound interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.”

                    Use compound interest when setting financial goals

                      Make friends with this wonder kid. The sooner you become friends with it, the quicker you will reach closer to your financial goals.

                      Start saving early so that time is on your side to help you bear the fruits of compounding.

                      4. Measure, Measure, Measure

                      All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments and taking stock of how our investments are doing.

                      If we don’t measure progress at the right times, we are shooting in the dark. We won’t know if our saving rate is appropriate or not, whether the financial advisor is doing a decent job, or whether we are moving closer to our target.

                      Measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

                      The Bottom Line

                      Managing your extra money to achieve your short and long-term financial goals

                      and live a debt-free life is doable for anyone who is willing to put in the time and effort. Use the tips above to get you started on your path to setting financial goals.

                      More Tips on Financial Goals

                      Featured photo credit: Micheile Henderson via unsplash.com

                      Reference

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