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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 August 20, 2019

                    How to Set Financial Goals and Actually Meet Them

                    How to Set Financial Goals and Actually Meet Them

                    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. And 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 on how to set financial goals and then actually meet them with ease.

                    5 Steps to Set Financial Goals

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

                    1. Be Clear About the Objectives

                    Any goal (let alone financial) 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 is for. It could be anything like kid’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, however small they may be, that you foresee in the future and put a value to it.

                    2. Keep Them 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 out of the line will definitely hurt your chances of achieving them.

                    It’s important that you keep your goals realistic in nature for 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”. And this quote sums up the best what inflation could do your financial goals.

                    Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

                    For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

                    4. Short Term vs Long Term

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

                    As a rule of thumb, any financial goal, which is due in next 3 years should be termed as 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.

                    More on this later when we talk about how to achieve financial goals.

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                    5. To Each to His Own

                    The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

                    It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

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

                    11 Ways to Achieve Your Financial Goals

                    Whenever we talk about chasing any financial goal, it is usually a 2 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. So let’s get down to ensuring healthy savings.

                    Ensuring Healthy Savings

                    Self realization is the best form of realisation 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 monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

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

                    2. Pay Yourself First

                    Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

                    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 then manage all the expenses from the rest.

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

                    Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

                    3. Make a Plan and Vow to Stick with It

                    Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

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                    Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

                    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. Rise Again Even If You Fall

                    Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

                    If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

                    Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

                    All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

                    5. 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 counter intuitive to many but there are some deft ways of doing it. For example:

                    Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

                    If you are travelling buff, try to travel during off season. Your outlay will be much less.

                    If you go out for shopping, always look out for coupons and see where can you get the best deal.

                    So 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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                    6. 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. And it would be rather easy to lose the grip over your discipline.

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

                    7. Maintain a Journal

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

                    So 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.

                    Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

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

                    At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

                    Making Smart Investments

                    Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

                    8. Consult a Financial Advisor

                    Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is 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.

                    9. Choose Your Investment Instrument Wisely

                    Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

                    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.

                    Do you remember we talked about bifurcating financial goals in short term and long term?

                    It is here where that classification will help.

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                    So 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 as compared to equity instruments.

                    10. 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.

                    So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

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

                    11. 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; taking stock of how our investments are doing.

                    If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

                    If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

                    Do 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

                    This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

                    As you can see, all it requires is discipline. But guess that’s the most difficult part!

                    More About Personal Finance Management

                    Featured photo credit: rawpixel via unsplash.com

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