Okay, so making millions on YouTube might be rare. But we have heard the stories of YouTubers earning significant amounts of money through the video-sharing website. There’s no arguing YouTube has become a major revenue stream for content creators. It’s easy to understand why. Consider these statistics:
1.8 billion users log in every month
180.1 million users in the United States alone
Viewers are from 90 countries
Viewers watch 1 billion hours of content every day
More than 60% of US companies have a presence on YouTube
Incorporating YouTube into your marketing strategy is a smart move and your decision to make the leap into the second most popular social networking site — behind Facebook — has the potential to increase the reach of your brand. The challenge is understanding how to best leverage your YouTube channel and overcome some of the difficulties inherent in the platform. With some basic understanding of how the platform works, every organization can inject new life into its marketing strategy with a presence on YouTube.
As a premier video production company working with everything from small businesses to big brands, the team at WMV Productions understands the power of video-based marketing. Our goal is to help our clients set themselves apart from the competition with results-oriented sales and marketing videos, explainer videos and brand awareness.
Before you jump into the world of YouTube, we’ve identified five things you should know to make your YouTube an effective revenue stream.
Know your audience
Before you create your YouTube channel and upload your first epic production, you have to know who you’re talking to. It’s important to understand the habits of your customers. A video is a powerful form of marketing unless no one is watching. Do some homework before launching your YouTube channel.
YouTube has implemented new standards for a channel to monetize its account. To be approved in the YouTube Partner Program, you must have a minimum of 1000 subscribers and 4000 hours of view time over the previous twelve months. These new rules were implemented at the beginning of 2018 to weed out spammers and others who previously abused the program. Once you reach that threshold, you can earn money by serving ads on your videos as well as from premium subscribers who watch your channel.
Sponsorship and affiliate marketing
Some YouTube channels monetize through sponsors and affiliates. You can include a link to a featured brand, and if a viewer clicks through and buys a product, the channel will receive a payment.
Related to this are including sponsorship as part of your channel. These act in much the same way as commercials on television and typically require a large number of viewers. But if your channel gets to that audience level, it can be a significant source of income.
As with any social media marketing, it’s important to be consistent. The worst thing you can do is post a video or two then not follow up for several months. This is primarily to keep your audience engaged. Once you lose viewers due to inconsistent content, it can be difficult to draw them back. While YouTube’s policy for its partners does not necessarily withdraw your monetizing status, it does reserve the right to review inactive channels for action.
The only thing worse than no video is a bad video. You want to the highest quality production your budget will allow. Your YouTube channel will be the first impression people may have of your organization. Be sure to put your best foot forward when selecting your production company.
WMV Productions wants to partner with your brand to create compelling video marketing. We have the best video professionals and can take your project from pre-production through completion. When it’s time for you to enter the world of YouTube, give us a call and let us know how we can help.