How to Make Money on YouTube?
Marketing is a continually evolving subject and, over the years, has undergone many transformations. From traditional media advertising (newspaper/TV/film), we have moved to the domain of digital marketing. The coming of the internet has changed the scenario in a significant way and an entirely new segment, known as social media, has taken centre stage. YouTube represents a substantial channel of social media.
How Popular is YouTube in India?
A viewership figure of about 325 million viewers in a month (as of September 2020) in the 18 years + age group is enough to understand its reach and popularity in India.
From a humble beginning in 2005 in the USA, YouTube has become the natural home of the short format videos, from music, dance, entertainment, studies, DIY manuals and How to do's; in short, practically any topic under the sun. Almost 500 hours of video content is uploaded to the platform every minute in the world.
The service has recorded over 265 million monthly active users and over 1200 channels from Indian users (or creators) that have crossed the one million subscriber mark as of 2019. Women now run almost 10 % of these channels ( compared to none, just five years back ) With consumers (viewers) preferring content in their language, plenty of regional language channels are in the elite category of 1 million + subscribers.
How to Earn Money on YouTube in India?
YouTube offers multiple revenue options. They are in close contact with creators to help them on content creation and monetisation.
To be a successful YouTuber in terms of earning, one needs to adopt a business approach. It is like running a small business where all necessary decisions on the product, marketing and finance have to be taken by you. Professional help is always available for improvements you wish to make or doubts to be clarified.
Once you decide to become a YouTuber, knowing your audience is priority number one. Customer insights will help you to decide on the content and other specifics your viewers want from you. The comments on your videos are an essential indicator.
Several analytic tools make your task more straightforward, and you can derive data on the number of views, likes and dislikes, location (of the viewer), gender and other similar information; advanced details, like duration of viewing, sharing is also possible.
Some of the YouTube analytic tools are Unbox social, Channel Meter, Quintly, and Viralstat.
Your content has to be good enough to attract viewers, enjoyable enough to encourage sharing. Google reviews its systems and procedures regularly and modifies them to be more user-friendly. But there are several more steps you need to take before you can start to make money.
The Basis of Payment: Rules of the Game
Joining the YouTube partner program is the first step. What does it offer?
The content creator gets access to tools to monetise their videos through Google AdSense. One has to meet a few primary criteria to qualify for the partner programme. The creator should have a minimum of 1000 subscribers and at least 4000 hours of accumulated watch time over the prior 12 months period (for the videos of the creator available on YouTube).
The advertiser pays based on clicks –revenue sharing is usually on 55:45 bases, with the creator getting 55% and YouTube, the balance 45.
There are several ways one can earn on YouTube.
You get paid for allowing Google to display ads on your content.
The number of views your videos get is not the sole factor for earning money; the other conditions include the number of clicks, defined as viewer clicks ( the viewer must click an ad or watch the ad in full (ad's come in various time slots of 10,15 or 30 seconds).
You charge a monthly fee to your subscribers who pay against special perks that you offer.
A company pays the content creator for promoting a brand (of the company) in the video. The content creator may do it in many ways – the brand can appear in a display in close-up shots, it can be part of the backdrop, or, may even find a place in the script and become an integral part of the story. There are several popular short films with a compelling story where the sponsor's brand has a prominent place.
YouTube partners have an option of selling merchandise (usually up to 12 varieties to their audience.
Super Chats and Super Stickers
The fans (of the creator) pay to highlight their names and messages in the chat feed in a live show.
YouTube Premium Membership Programme
This programme is a payment plan that allows fans to support their favourite content creator. Paid members enjoy their videos without the distraction of ads. Non-members continue to view the same videos in the usual way (content with ads).
Offline modes like affiliate programmes, Influencer marketing, licensing of content are additional areas for revenue generation.
How Can I Get Higher Views on My Videos?
- The primary requirement is creating engaging content.
- Optimising videos for better search is another process. Using SEO tools like Google keyword planner will help you to find words used by a large number of people during the search. These words in your content will give a better result.
- Proper use of social media to promote your videos can generate additional traffic.
YouTubers, Freelancers, and the Economy
The rapid changes in technology and its user-friendly reach have redefined the usual employment model, and India has seen an increase in the number of freelancers.
Recent media reports mention India as the second fastest-growing freelance market in the world, comprising an estimated 15 million freelancers. Women have found the right opportunity to use their skills and time to earn for themselves.
Several women YouTubers have made a name for themselves with their content and earning decent amounts. There are several YouTubers across India who make a decent living out of the earnings on YouTube alone. The growing influence of freelance opportunities has created a positive impact on the employment scenario, and the economy of the country.
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Q. As a YouTuber, I am doing well with my travel video series. I have over 1 million subscribers, and income is growing. How can I get professional help to manage my business?
Ans: You have raised an important issue. With YouTube and other digital media growing fast, many people are facing similar problems.
For financial issues, many technology platforms like OkCredit offer specialised services like digital accounts receivables, doing bank reconciliation and the like.
For audience analytics, several small firms and consultants are available who can provide you with all relevant viewership data of your videos. Similarly, you can source advanced professional support for video editing, music.
All these support services come at very competitive charges and can power your business to a high level, both the backend and the front –end product.
Q. How to create a YouTube channel that gets good viewership?
Ans: Interesting content brings in viewers. You can make videos on any subject you like. But some of the niches or fields which enjoy good viewership in India are: Travel, Food reviews, Gaming, How to do's ( how to search for suitable local restaurants), Product unboxing and reviews, How To Use (say, a coffee making machine), Comedy, Celebrity lifestyles, and News.
Q. Will my earnings increase with a higher number of subscribers?
Ans: Earning is related to subscriber numbers, but that is not the only thing that matters. The cost per thousand (CPM) factor decides your pay when you join Google's partner program. Advertisers pay different rates (or CPM) based on factors like location, seasonality type of video. On a general basis, the average payout rate is between 2 to 4 US dollars, per thousand views.
Q. As a small business owner, how can I benefit from YouTube?
Ans: Depending on the business you are in, several ways you can benefit. You can use promo video to expand your market or connect with your customers better by way of explaining the functions of your product. In the educational sector, you can use video tutorials. Digital marketing and YouTube, in particular, offer many solutions for small businesses. As the owner (of the company) you need to have a clear vision about your product and customers.
Q. How quickly can I start earning money from YouTube?
Ans: To start earning money, you must be a member of the YouTube partner programme. The criteria for a membership demands your channel to fulfil must the following conditions:
- Have a minimum of 1000 subscribers.
- Must have 4000+ watch-hours in the past 12 months (from the date of application).