The latest statistics from YouTube show that the video platform saw 95% more new channels trying to build an audience in 2020 (compared to last year). When people were stuck at home, they were forced to spend more time in front of screens. And YouTube was his source for learning new skills, entertaining himself, and even a replacement for live events. That means the appetite for online videos has also increased.
While the competition seems to have increased for new video creators, there is still a great opportunity to make money on YouTube.
In the infographic below, you will learn fifteen ways to monetize your channel. There’s something for every type of creator – whether you teach, entertain, or inform your audience. In fact, even novice YouTube creators will find a couple of ways to generate income from their YouTube marketing and video editing skills. There is a difficulty level indicator next to each tactic, and you can start choosing a couple of ways initially.
Remember to run your YouTube channel as a creative entrepreneurship project. You want multiple sources of income to build a sustainable business, not just relying on ad monetization or brand sponsorship.
My personal recommendation for you to create a thriving YouTube channel in 2021 is to create a united community around your channel. It requires the following steps:
Find your 1000 true fans: These will be the people who will see each of your videos. And buy all the products you launch. Only they could create a sustainable business for you.Create content that appeals to them (and only to them): Yes, make a niche on your channel instead of trying to attract a wide audience. Instead of creating a channel on “YouTube Marketing”, create one on “YouTube Marketing for Real Estate Business Owners.” Do you understand drift?Listen carefully to the demands of your audience: Use YouTube analytics to discover the type of videos your audience likes and find out where your audience’s attention falls. Remember that YouTube’s algorithm “follows the audience,” so doing the same yourself is the fastest way to grow your audience.Validate demand and launch a product: On the way of listening to your audience to create your videos, ask them what they are willing to pay for. Maybe they want you to launch an online course on one of their pain points. Or maybe they want you to create some templates and offer them for free. Research, validate your claim and give your audience what they want.Keep adding more ways of monetization into the mix: Once you find something your audience likes, keep repeating the process to instill more ways to monetize your channel by choosing strategies from the infographic below:
Designed by: The Creatives Hour
Infographic Source: Elite Content Marketer
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