Making YouTube Videos Make Money

making youtube videosEveryone seems to love YouTube.  But one thing that is really awesome about it is that you can actually earn money by making YouTube videos. There are several different ways to accomplish this.  You can earn money via views and advertisements, but you can also earn by subscribers buying your offerings. It’s a wonderful way to make a living, and it’s possible for almost anyone who is in the right niche and is willing to make regular videos.  In order to monetize your videos, you have to be strategic about how you choose to go about it.

Making YouTube Videos Work for You

Ads –- Joining the ad network is simple with YouTube. You just turn it on or off, and then they approve you. You will need to enter in your social security number or tax ID number to collect any money from your ads. They have a choice of display ads, overlay ads, sponsored cards, and skippable video ads. It is highly recommended to allow your audience to skip the ads if they desire.  Giving them that choice will actually work better for you because viewers prefer choice.  How interesting you make it determines whether or not they will actually skip it.

Affiliate Sales -– You can also put links to any products you talk about in the video. Place them under the video in the description box. During the video, at some point just point your audience to the description box for more information and affiliate links to the products. You do need to reveal that you’ll earn a percentage of sales and thank them for it.

Merchandise Sales – If you have a t-shirt, mug, or other types of merchandise that you want to promote, you can also link to it in the description box. Be sure to show them what the merchandise looks like and tell them any details they need to know, such as whether sizing is accurate or not.

EBooks – If you write a book, you can promote it on your YouTube channel by mentioning it at the end of each video and putting a link in the description box. You can even make a special video just for the book trailer to let people know that it’’s published and where they can buy it.

Exclusive Content – You can make some content hidden on YouTube,   You can then create a link to it from your website that is behind a pay wall. This will make some videos only viewable through the right link, thus creating a membership for exclusive content, which would create another income stream.

Donate Button – You can also add a donate button to your YouTube channel via PayPal. Be sure to mention to your audience that they can support you via the donate button and tell them how they can do it. Even though many people can use technology,  not everyone understands how technology actually works.

Sponsorships – If you have been making YouTube videos long enough to have a large subscriber base and viewership, some companies will contact you for sponsorships. The way that works is they may give you free merchandise, plus a fee to wear or use their product on your channel. You may need to say something like “sponsored by …” in your videos to live up to your end of the bargain.

Paid Product Placement – When your channel is super busy and has an audience that is niche-specific, you may be asked if you’re  interested in paid product placement. This means that you take money to use the product and mention it in your video. Again, you must reveal when you have been paid.

Earning money on YouTube and via YouTube is something that you can do rather quickly if you’ve chosen the right niche for you, and if you’re willing to put in the work it takes to build up your channel. Making YouTube videos can lead to making a lot of money if you follow the right steps.  If you’re curious about any YouTube channel and how much people may be making on their channel, check out SocialBlade.com.

How to Analyze the Supply and Demand of a Niche

As a small business owner, it is imperative that you study the supply and demand of any particular niche for which you feel you want to be involved. In addition, choosing a smaller niche market can allow your business to avoid competing with huge businesses that can afford to put out less expensive items. You can also charge higher prices for specialized and differentiated products or services that you promote to smaller audiences, giving higher profitability. In contrast, a larger business isn’t going to touch the smaller niches because they want to make much larger profits than the smaller niches will allow.

The trick is to learn how to analyze the supply and demand of any particular niche to ensure that you want to enter that market.

* Define Your Customers – How many customers are there to whom you can market any particular product or service? Knowing how many there are can give you a good idea about what the price point of the product needs to be in order to make it worth your while. Remember, you’re never going to reach every last potential customer so adjust your expectations accordingly.

* Determine Their Needs – As you look at the customers you want to work with, it’s important that you develop an understanding of their needs so that you can create products or services that are special, differentiated, and that they’re going to be willing to pay a higher premium for than mass-produced products and services that are lower quality.

* Provide the Right Products or Services – Knowing the customers and their needs will help you get down to work identifying several potential product ideas that you can do more research on by using keyword research, polling of the audience, and other methods to determine the supply and demand of products like yours.

* Outline a Marketing Plan – Once you’ve figured out the product or service you want to market, you’ll be able to determine marketing strategies and tactics that will help you earn the most from your small niche. Part of profitability is to know how you can market efficiently to your customer.

* Make a Profit – Finally, doing the research will help you determine if you can make a profit. Take the number of people in the market, the average market penetration and your price point, and you can come up with the most likely number of products you’d have to sell each month, week and day to reach your goals.

In order to make all this work together it’s important to:

1. Choose Keywords – Keyword research is somewhat subjective and starts with an understanding of your audience and a few words that you think they’ll use. You can also use tools to help you do keyword research.

2. Research Other Products – Find products that claim to be answers to your audience’s issues and check them out to find out how you can differentiate yours enough to charge the price point you need.

3. Identify the Price Point – Using the information gathered, come up with a price point that works for you.

4. Determine Your Break Even Number – Using all that information, come up with how many products you’d need to sell to make the profit you need to make, and whether it’s even possible considering all the other factors.

Bringing all these points together will ensure that you understand how supply and demand relates to the profitability of your niche. If there aren’t enough customers, or enough demand, and you can’t sell at a price point that fits with your income needs, you can then know it’s time to move on to another idea.