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YouTube has become the best place to watch videos related to everything from music to how to fry an egg. It’s the home of the newest wave of celebrities. These aren’t the movie stars; they’re the people who’ve built a large YouTube following that’s helped them become famous.
These YouTube stars make some serious money. Consider the Ryan ToysReview channel which is ranked number 8 on the Business’ Insider’s list of the 10 highest paid YouTube stars of 2017. The channel has 16, 989, 374 subscribers. Ryan and his family earned $11 million before taxes in 2017 simply from creating videos of Ryan unboxing toys.
Daniel Middleton, who tops Business Insider’s list, earned $16.5 million in pre-tax revenue from his Minecraft YouTube channel TheDiamondMinecart. His videos are about daily reviews and gameplay for the popular game Minecraft. The channel has 20,568,416 subscribers.
We’re not saying that you’ll become a YouTube celebrity and earn millions of dollars. Far from it. However, if you want to learn how to make money on YouTube, it’ll be wise to follow these YouTubers’ best practices.
[h2 bgcolor=”f08137″]Lessons from Great YouTubers[/h2]- Create a YouTube channel based on a popular topic.
People want answers to questions. It’s important for you to find the questions your potential audience is asking before creating a YouTube channel. What do they want to learn about? How can you help them find the answers?
That’s how Middleton built his YouTube channel. He began creating videos about Minecraft hacks and children between the ages of 5 and 10 gobbled them up. He has since expanded to include other video games that people love.
The point is that your YouTube channel must be meaningful.
It’s great to create a channel featuring something that you’re passionate about. However, that passion won’t translate into income if it’s related to a topic in which people really aren’t interested.
- Check out the competition.
You’ve identified a stellar topic and are excited to get your channel off the ground. Don’t jump the gun yet though. You must scope out the competition and see how you can create a channel that’s even better.
For instance, there are several comedic YouTube channels. Lilly Singh’s YouTube channel, however, is different from the norm. She’s ranked number 10 on Business Insider’s list and earned $10.5 million pretax in 2017.
Her comedies are primarily based on satirical takes on everyday life and people’s favorite complaints. She also has some video parodies that are some of the most popular videos on the channel. Further diversity has been achieved for her channel through the release of her feature film “Trip to Island Unicorn” on YouTube Red.
Like with anything in business, you must determine your Unique Selling Position (USP). What sets you apart? Why should people be drawn to your channel? What benefit will they derive from watching your channel?
- Expand your base.
All the top YouTube stars haven’t viewed the channel as the entirety of their careers. They’ve expanded into other areas that help drive traffic to their channels. Lilly Singh, for instance, has written and published a book entitled How to be a Bawse: A Guide to Conquering Life. It’s a book you should read if you want to create a career as a YouTuber.
The strength of your YouTube channel depends heavily on the number of views your videos get and the number of subscribers you have. You’ll only get this traction if you find creative ways to expand your base. What else can you offer that adds value to your audience?
- Post content regularly.
One of the weaknesses of many YouTube channels is that content is posted infrequently. The consistency of uploads builds interest. You can’t post a video in January, another in March and the other in September and expect to build a following. Consistency is key.
Most popular YouTubers post at least once per week. They have a schedule and they stick to it. Some key points to pay attention to when developing a schedule include:
- What day and time will you post content each week? Your followers should know when to expect your content. Also, ensure that it’s a day where you’ll have enough time to spend on writing a description and promoting the video.
- Post your schedule somewhere on your channel. It helps new members of your audience know what to expect and heightens the anticipation.
- Is there a way that you can prepare videos beforehand? For instance, can you use the weekends to prepare 5 videos that you can schedule for posting?
- How can you ensure that you produce quality videos while maintaining the quantity? Yes, you do need to post consistently. However, consistently posting crap will defeat the whole purpose of creating your channel.
- Include affiliate links.
Most of the top YouTubers have some affiliate links in their video descriptions.
Mark Fischback has one of the top YouTube channels focused on gaming. His videos include links to his social media profiles, but they also include links to the games he’s featuring. Chances are that he gets a commission each time someone clicks on the link and purchases a game.
Depending solely on a piece of YouTube’s advertising revenue probably won’t suffice.
You need to establish relationships with affiliates and include relevant affiliate links in your video descriptions to earn additional revenue.
[h2 bgcolor=”f08137″]Profitable YouTube Niche Ideas[/h2]1. Unboxing
Unboxing videos do very well on YouTube, and people love to watch them.
There are lots of channels doing unboxing videos on a variety of products. If you’re good at communicating features and benefits, this niche could be perfect for you. Just do some research and find an untapped niche.
2. Cooking
This is a very popular category. Cooking videos show a variety of recipes from Italian dishes to tips on how to use cooking tools and utensils. It’s important you have some good editing skills so you can make your videos engaging.
3. Vlogs
Vloggers do videos about a variety of topics. You could share travel tips, money advice or day to day experiences. Popular vloggers have millions of views. If you have some charisma, this could be for you.
4. Tutorials
Tutorial videos are one of the most popular types of videos on YouTube. From learning a new language to video editing, there is a tutorial for just about anything. Most people prefer to watch how-to videos over written material since it’s much easier to understand.
The Tipsy Bartender does clever videos all about cocktails and they have over 3 million subscribers.
5. Product reviews
Who doesn’t do research prior to making a purchase?
I’m a bit obsessed when it comes to making a smart buying decision. I could spend a few hours doing my research before I hit that purchase button.
When your channel grows, you can get free products to review by companies who would like their products promoted.
6. Comedy
Comedy channels get tons of views. For example, prank videos do quite well on YouTube. But, you need to stand out since there are many YouTube creators doing this.
7. Healthy Living
There is a high demand for learning about healthy living, diet, and exercise. It would be best to focus on a sub-niche of healthy living so you can stand out.
8. Travel
Now if you’re going to compete as a travel vlogger, you need to have some skills with the camera.
Some of the most popular travel channels are quite professional. They have some serious gear such as drones, 4k cameras, camera stabilizers and a variety of lenses. They are also skilled in cinematography. You can certainly develop those skills with experience if you have the passion.
The Vaga Brothers are YouTubers that have vastly improved their videos since they began their channel. If you watch their first videos, you will see how much they have grown creatively. Now, they have their own show on Youtube TV.
[h2 bgcolor=”f08137″]How to plan your videos[/h2]Develop a written calendar outline. You should have at least have your next month of videos topics written down in advance- whether you’re planning one or two videos per week.
Whatever you vlog about, it’s important you have a solid plan. The more you plan, the better your videos will be.
An unplanned video is unlikely to be a success and you probably will end up with a bunch of “ums” and “aahhs” and hence not a very watchable video.
[h2 bgcolor=”f08137″]Create a Consistent Structure [/h2]
Script
It doesn’t need to be scripted out word for word. In fact, scripting your video word for word comes off unnatural. Instead, you want to come across conversational and friendly.
All of your videos should be planned out with a general outline and structure. This is what the most successful YouTube channels do so you should too.
Hook
Have a good intro or hook. Just like any movie, you want to make sure you draw the viewer in so they keep watching. A hook tells what your video is about or something that grabs the viewers attention and why they should watch your video.
Introduction
In the introduction, you simply want to introduce yourself and highlight the points you will cover in the content of your video.
Body
This is the content of your video. You will get into the meat and potatoes of your video.
Close
At the end of your video, you want to have a call to action – get the viewer to comment, subscribe, or perhaps watch another related video. The goal is to have them engage with future content. You will find out what works when you test out different ideas.
The quality of your content determines the strength of your YouTube channel.
Shoddy videos won’t get any views and will probably get a barrage of negative comments.
Features of a good YouTube Video
- Use a high-quality microphone to get the best sound quality. After recording the video, use a noise-removal filter to get a cleaner sound.
- Use the right lighting to minimize shadows. People enjoy watching videos that are well lit. A lighting kit can help you create the right lighting all the time.
- Use a good quality camera. If you’re using your smartphone, ensure that the camera quality is good. You don’t necessarily have to invest in a DSLR camera.
- Appeal to the right emotions. Some possible emotions to target include: joy, self-empowerment, amusement, fear, surprise, affection, and trust. The type of emotion you use depends on the theme of your channel and your intended audience.
Here’re some quick tips for promoting your YouTube channel so that you can get more views and subscribers:
- Use the right keywords and keyword phrases in your video’s title and meta description. The right keywords and keyword phrases will make it easier to find your content using either Google or YouTube’s search engine.
- Create compelling video titles that grab your audience and are relevant. There’s nothing more annoying than watching a video that is completely unrelated to its title.
- Create captivating thumbnail images. There are the images that appear as video previews and will, therefore, be the first things that people see.
- Use email marketing if you already have a mailing list.
- Use lead magnets such as eBooks, podcasts and video courses.
- Use social media advertising (both paid and free). Instagram’s hashtags can be powerful ways to reach new audiences, especially with short video content. You can use snippets of your existing YouTube video to create Instagram, and other social media, posts.
- An excellent way to increase your ranking is by adding the text transcript of your video to the description section. You can use a transcript service that will do this for as little as $0.10 per minute.
If you want to learn more, check out our video marketing guide – a comprehensive resource to take your videos the next level.
The lessons from the greats demonstrated how to create a high-quality YouTube channel. The 5 lessons listed lay the foundation for making money from your YouTube channel. Success won’t happen overnight.
However, as long as you dutifully follow these steps, your reward will be great.
[h2 bgcolor=”f08137″]How to make money on YouTube[/h2]- Earn revenue through the Creator Studio. Your YouTube channel must be linked to your Google AdSense account for this to work.
- Get at least 1,000 subscribers and at least 4,000 hours of watch time in order to receive your first payout. Funds less than $100 for the month, however, won’t be released.
- Linking your YouTube channel to your Google Adsense account means that Google gets 45% of your revenue and you keep the rest.
- You’ll likely get $7.60 per 1,000 ad views. That’s a mere $7,600 (before taxes and operation costs) for 1 million views and the likelihood of you getting 1 million views is slim. That $7.60 is also a high estimate because YouTube’s ad rates tend to fluctuate, even going to as low as 35 cents per 1,000 views.
Is YouTube Really Worth It?
YouTube is sensationalized as a way to make quick money. It isn’t. You’ll spend hundreds, maybe even thousands, of dollars shooting and editing high-quality videos. Additionally, these videos that you work so hard on probably won’t get enough views to help you reach your breakeven point.
Fortune Magazine supports this point by stating that “96.5 percent of all those trying to become YouTubers won’t make enough money off of advertising to crack the U.S. poverty line.” This means that you can’t depend solely on YouTube advertising to earn revenue.
Here’s the best strategy for making money on YouTube:
- Build a channel with more than 4,000 subscribers. This lays the foundation for the remaining steps.
- Set up your channel for monetization through the YouTube creator studio. This, however, won’t be your main income source.
- Start subtly promoting products in your videos. Tag the companies that make these products when you’re promoting the video on your YouTube pages.
- Set up sponsorship deals. These deals will be your main source of revenue.
- Establish relationships with affiliates and include affiliate links for relevant products in your video description.
Learning how to make money on YouTube requires more than depending on revenue from the ads shown in your videos. Think big.
Your channel will only be a worthwhile source of revenue if you integrate other income streams into your YouTube channel. It’s all about diversifying what you offer.
Putting it all together
It takes a lot of work to become a YouTube star and only the top 1 percent really earn huge revenue.
Succeeding as a YouTuber depends heavily on your ability to diversify. The more diversified you are in your revenue stream, the more likely it is that you’ll earn enough to make a decent profit.
Always remember though that you won’t be able to diversify your revenue if your channel doesn’t have enough subscribers and views.
The initial stages of developing your YouTube channel should center on building that traffic and establishing your brand. You can only do this by producing high-quality videos that matter to your audience, sticking to a consistent posting schedule, and promoting your channel.