YouTube is the third largest search engine in the world with almost a billion users scattered all over. You can learn, share and implement strategies that you find all over YouTube in everyday life. YouTube is a great resource for everyone and you can even download your favourite videos for offline viewing when you’re not in a wifi-zone. Making money on YouTube is not difficult, however, it requires a lot of hard work and effort. You can’t make lakhs of money early on, and you need to wait until you have a sizeable audience to finally be able to see returns.
YouTube has changed the world with the number of things it can do for us. Want to learn how to edit a video? YouTube has thousands of step-by-step guides on how to do so. Want to understand thermodynamics better? There are teachers from across the world, who will explain in detail what you want to know about the subject. Yes, YouTube has changed the way we operate in our everyday lives.
The real question is, how does someone make money on YouTube? It’s really simple. YouTube runs on advertising. That means ads will play before actual videos can begin, which will allow YouTube to pay you as a creator. YouTube will keep 45% of the money that it generates from your video and give you 55% of the remaining. For example, if an advertiser pays 10 INR for placing an ad on your video, you will get INR 5.5 from it.
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Enable AdSense
You need to go your settings, and set up an AdSense account. Creating a new AdSense account takes less than 20 minutes, and entering all the necessary information in the agreement form is quite simple. Next is the verification process which can take some time, and you should be good to go. You’ll need to associate an AdSense account to your YouTube channel, and enter the appropriate payment gateway that you will be utilizing for payments
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Understanding CPC &CPM
Now comes the hard part, which is CPM and CPC. YouTube charges advertisers in two distinct ways – CPC which is Cost per Click and CPM which is Cost per Mille (Thousand views). So if you are an advertiser that wants to go with the CPM model, then you will pay YouTube INR 10 for 1000 views, and if you want to go with CPC model, you pay (for example) INR 1 per click on the video. Once you’ve really mastered the understanding of these two models, then you’ll be in a better shape to understand how to make money
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Select appropriate content
Then comes the concept of content – something you’re really good at that no one else currently has great videos on. You need to ensure that your production quality is high, you prepare a script and you have a specific subject or topic to make videos about. For example, UIC channel makes videos about technology, gadgets, etc. and is now experimenting with daily vlogging. Mumbaikar Nikhil’s channel makes videos about bikes, bike rides and his experiences in the city. You need to find what works for you, and ensure that no one around you is making similar types of videos.
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Understanding advertiser psychology
Now once you’ve done your research and chosen a topic, you need to understand what kinds of brands will potentially advertise on your channel. If you make videos about different pencils available to draw professionally, then you’d have Faber Castle, or similar brands advertising on your video. You must, however, understand their psychology – would they advertise on your video if you criticize them too much, or lack good communication skills? Probably not. Would they advertise on your video if you are cursing or using inappropriate language? Absolutely not. You must select the best balance for your YouTube channel.
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Channel Branding
Next is branding. You must have a great looking banner and icon, as well as social media links that display your professionalism or your personality. You can then start approaching brands directly and work out a deal with them in the videos you make. You can earn Rs 15000 onwards monthly if you really work hard towards brand partnership.
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Focus on ‘watch time’
Finally, you must understand that the biggest metric YouTube considers when paying your revenue is your ‘Watch Time’. If your videos are only 2 minutes long and take people away from YouTube, or to another channel, YouTube may pay you less. But if your videos are 10 minutes long and viewers want to watch more of your content then YouTube will prioritize your channel and even help you grow by recommending it to others.
In a nutshell, you must focus on making good content, branding, and partnerships that can help increase revenue and diversify your income sources.
