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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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                    1 The Definitive Guide to Get out of Debt Fast (and Forever) 2 25 Easy Tips on How to Save Money Fast 3 What Is a Good Credit Score (And How to Get One) 4 9 Millionaire Success Habits That Will Inspire Your Life 5 10 Reasons Why Following Your Passion Is More Important Than Money

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                    Last Updated on July 10, 2020

                    The Definitive Guide to Get out of Debt Fast (and Forever)

                    The Definitive Guide to Get out of Debt Fast (and Forever)

                    Debt can feel crushing, like a weight that is always weighing you down. Looking at those numbers, it can feel as if you’ll never get out from under it. However, if you really want to learn how to get out of debt, it is possible with a great deal of focus and self-control.

                    Getting out of debt isn’t impossible. Like any big goal, all that it takes is an action plan to identify where you are and creating a plan to zero out your debt.

                    Identifying All of Your Debts

                    The first part of paying off your debt is getting a complete picture of what you owe. When you have everything written out in front of you, it makes it much easier to create an action plan. Depending on how much you owe, it might also help you realize it’s not as bad you might have originally thought.

                    Here’s how you can get started identifying your debts:

                    1. Own Your Debt

                    Before you start identifying all of your debts, take a moment to process that you have debt but want to get out of it.

                    Forgive yourself for any past mistakes, missed payments, or overspending. It might be painful to accept how much debt you have at first, but you must own it.

                    2. Make a Debt Tracker

                    It’s astonishing how few people ever created a tracker to understand their total debts. Most likely, it comes from not wanting to accept the guilt of having debt, but, if avoided, it can make it nearly impossible to get out of debt.

                    Open up a new Google or Microsoft Excel sheet and list out all of your debts. Start with the name of the creditor, interest rates, total balance, loan term length (if any), and the minimum amount due each payment. This will include student loans, credit cards, and any other type of debt owed.

                    3. Get Your Debt Number

                    Once you’ve made your debt tracker and taken the other steps, identify your total payoff number. This is crucial, as you will have a starting point and a clear goal that you are trying to achieve.

                    Prioritizing Your Debts

                    All debt is not created equal. It’s imperative to understand that there are different types of debt.

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                    1. Understand Bad and Good Debts

                    Bad debts are usually paying for things you want instead of always need. While there might be some emergencies that max out your credit cards, often times it’s excessive spending[1].

                    There are three main types of bad debt:

                    • Credit Card Debt: The average American household owes over $16,000 in credit card debt!
                    • Auto Loan Debt: According to CNBC , the average auto loan in the US is $30,032!
                    • Consumer Loan Debt: Consumer loan debt isn’t as common as credit card and auto loan debt, but it’s still considered bad as interest rates are usually between 10-28%.

                    Good debt is identified as investments in your future. Here are three common types of good debt:

                    • Student Loan Debt
                    • Mortgage Loan
                    • Business Loans

                    2. Decide Which Debt to Pay off First

                    Once you know each type of debt and their interest rates, you can begin to pay off debt quickly.

                    Focus on paying off bad debt first, regardless of if it is a credit card or auto loan. Start by paying off the loan with the highest interest rate first.

                    If you have several credit cards with different interest rates, you want to focus on the one with a higher APR. You will actually save more money by eliminating the card with the highest interest rate.

                    3. Don’t Pay the Minimum Amount

                    Paying the minimum amount digs you into a hole as interest rates will offset your payment. Even a small amount more than the minimum can help you pay off debt much faster.

                    Removing Obstacles to Pay off Debt Quickly

                    Creating a debt tracker and prioritizing a plan is simple, but avoiding temptation can be difficult.

                    1. Set a Reminder to Track Your Debt

                    “If you can’t measure it you can’t manage it.” -Peter Drucker

                    It’s so important to track your debt to ensure that you get it paid off quickly. Similar to working out and measuring your results, you need to track your debt constantly. Start with a weekly reminder, where you sign on and log your updated number. Did you increase, decrease, or stay the same?

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                    Regularly tracking your student loan balance can be incredibly motivating, as well. You will get a huge confidence boost each time you see your total debt amount decreases.

                    Set weekly and monthly goals so you can have short term wins and keep the momentum going.

                    2. Hide Your Credit Cards

                    If your biggest debt is credit cards, you need to eliminate temptation and remove them from your wallet.

                    Some people have gone to extreme measures by freezing their credit cards. Why? This would create an ice block around your card, which would require you to chip away at it slowly. This will give you time to think if it’s the best idea to buy that thing you’re about to buy.

                    3. Automate Everything

                    Willpower can be a huge downfall to paying off your debt. By automating your bills each month, you will ensure that willpower isn’t involved.

                    4. Plan Ahead

                    Getting out of debt will require some sacrifices, but with enough planning, you can make it work.

                    For example, if you know that you have a friend’s birthday or family dinner coming up, plan ahead for the costs. Whether you need to cut back on spending the week before, pick up a side job, or meet them after dinner, do what is needed.

                    5. Live Cheaply

                    The only way to get out of debt is to make some sacrifices on your spending habits. Find ways to save money each month so you can apply that amount to your outstanding debts. Here are some ways to save money each month:

                    • Live with roommates
                    • Cook dinners and prepare lunches for work instead of eating out
                    • Cut cable and choose Netflix or Amazon Prime
                    • Take public transit or bike to work

                    Finding the Lowest Interest Rates

                    The higher your interest rates, the harder (and longer) it will take you to pay off any debt.

                    If possible, you want to find ways to lower your interest rates to help get out of debt quickly. Here’s how you can get started:

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                    1. Maintain a High Credit Score

                    Your credit score will have a large impact on your ability to refinance your loans and receive a lower interest rate. If you have a low credit score, it’s unlikely you will be able to refinance your loans. Use these credit tips to increase and maintain an excellent score:

                    • Never miss a payment
                    • Don’t exceed 30% of your credit limit
                    • Don’t sign up for more than one card at once
                    • Limit hard inquires, like auto-loans and new credit cards
                    • Monitor frequently with free credit-tracking software

                    2. Find Balance Transfer Offers

                    Start by opening a free account on credit.com. Credit.com offers you the chance to open a free account and see what type of balance transfer offers you can receive. Some of your existing credit cards might already have 0% or lower APR balance transfer offers available.

                    Contact each of your credit card providers to ask about lowering your rate for a one-time balance transfer offer[2].

                    If you do take advantage of this option, make sure that you use a balance transfer and not a cash advance. Cash advances have a ton of high interest fees (15-25%, depending on your credit card) and will only compound your debt problem.

                    How to Get Rid of Debt Forever

                    Setting up a plan, removing temptations, and getting the lowest interest rates is the first step to get out of debt.

                    1. Keep Monitoring and Adjusting

                    Once you have a plan, don’t get comfortable. Track your debt payoff plan and make the necessary adjustments when needed.

                    Monitor your credit scores with a free site like CreditKarma. The higher your credit score climbs, the more likely you will be to secure a new, lower-interest loan.

                    2. Earn More Money

                    There are only so many ways to save money. Instead of clipping another coupon or making sacrifices for your morning coffee, find ways to earn more money!

                    Think about it…it is much easier to find ways to earn an extra $1,000 per month than find $1,000 to cut from your budget.

                    Here are some examples of ways to earn more money:

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                    Talk to Your Boss

                    Have a conversation with your boss about current salary and/or commission rates. If you’re not satisfied or want a change, don’t be afraid to look around at other positions. Some of them might even have a student loan debt reimbursement plan!

                    Start a Side Hustle

                    This could be coaching students on the weekends, driving for Uber, or taking paid online surveys. There are tons of ways to make money outside your 9-5. Now that you have a clear plan to pay off your debts, you’ll be more motivated than ever to figure out creative new ways to earn money.

                    Build an Online Business

                    There are so many websites and blogs that earn money from ads, affiliates, and other online products. Find your niche and get started.

                    3. Celebrate Your Wins

                    As you progress in your debt payoff journey, don’t forget to celebrate your wins. You need to always reward yourself for the hard work and discipline that is required to get out of debt.

                    While you shouldn’t celebrate so big that it increases debt, make sure to factor in little rewards to keep you motivated.

                    4. Set New Financial Goals

                    Eventually, with a plan and these steps, you can rid yourself of your debt. Once you do, make sure to celebrate your monumental achievement, but don’t stop there.

                    Now, you can focus on acquiring wealth and increasing your net worth. Set new financial goals so you have a new target to aim toward. Here’s how to set financial goals and actually meet them.

                    These could be anything now that you are debt free! Think about where you want to travel, buying your first home, or saving for your future retirement. Just like before, make sure that your goals are specific, measurable, and achievable.

                    Conclusion

                    Congrats, you can now set a plan in motion to finally pay off your debt quickly (and hopefully forever)!

                    Remember, if you want to get out of debt quickly, it’s not always easy. Just like any big goal, there will be sacrifices, challenges, and problems to overcome.

                    More Tips on Getting out of Debt

                    Featured photo credit: Pepi Stojanovski via unsplash.com

                    Reference

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