How to Make Money on YouTube: Developing a Creator's Mindset
How do video creators make money on YouTube? People are consuming entertainment and informational media like never before. If you pay enough attention to the people around you, you will notice how hard it is for them to stay away from their computer or phone screens for a long stretch of time.
With people ditching traditional media such as newspapers, TV programming, and magazines for digital content, companies are also directing their advertising dollars to the net. Unlike traditional media where most media outlets are controlled by a few big companies, the beauty of the internet is that anyone can get a piece of the action. This is why so many people are able to make money on YouTube.
You too can get a share of these advertising dollars. If you havenāt been living under a rock since the advent of YouTube, you must have seen those ads that play before videos start playing on YouTube. The companies whose products are being advertised pay for those adverts and the money is shared between YouTube and the person on whose video the ad played.
Fully understanding the above statement introduces a very important mind-shift. It is a mind-shift that if fully embraced will change your perception of digital content in a big way. Simply put, when you are interacting with digital content, you are either consuming content or creating content; the consumer earns no money while the creator gives themselves an opportunity to earn money from the fact that there are consumers willing to read or watch the content they create.
You are going to spend time online anyway. Why not spend the time as a creator and make money on YouTube in the process?
One of the easiest ways to jump on the side of content creators is to start a YouTube channel and put out videos regularly.
The Business Model
YouTube pays its content creators based on the revenues generated from ads served on their videos. The company charges advertisers using a formula they call Cost per Impression (CPI). Usually, they do their calculations based on 1000 impressions which simply means that 1000 views of a video will earn you an amount equal to the CPI after YouTube has taken its share.
If your video has 100,000 views, for instance, and the CPI after YouTube has taken its cut is $1.12, you will be paid $1,120.
Besides the revenues generated from YouTubeās own ads, you can partner with various companies and promote their products in the videos you create. You probably have seen YouTubers promote other companiesā products on their videos. They get paid to do this.
Further, if you build a big enough fan base, you can create your own products and sell them to your fans. You can sell things such as Mugs, T-shirts, and cool collectibles. What you choose to sell will largely depend on the type of audience you serve.
The Climb
As you would expect from anything worthwhile, earning a significant amount of money from YouTube will take some work. There is a learning curve to the process and building a following also takes time but it can also happen fast if you are good at promotion.
Unless you get lucky and have a viral hit, expect things to happen slowly at the beginning then gradually take off as your channel gains traction and a loyal following.Ā Ā By investing time in your channel and publishing high-quality and engagingĀ content, your channel will grow.Ā Ā Once momentum is on your side, your following and the number of views will grow exponentially.Ā Ā It's these eyeballs that you will be able to monetize.Ā Ā
Build your future
Start making good money choices today so you can have the tomorrow you dream about. Ā Make it happen!Ā