Selling on YouTube can be highly lucrative, but the process is not as straightforward as one might think. In fact, getting started can be rather difficult. Below, we’ll discuss some of the essential tips and tricks that you need to keep in mind so that you can become a profitable YouTube reseller.
Create compelling content.
The first and arguably the most critical step to becoming a successful YouTube seller is to create compelling content. For viewers, that means creating content that is interesting, useful, and/or entertaining. In the eyes of potential buyers, that means creating content that is interesting, useful, and/or entertaining enough that they’ll be motivated to click on your link (or, heaven forbid, simply watch your video and then buy what you’re selling).
To create compelling content, you need to stand out from the crowd. To achieve that, you need to invest in quality over quantity, so that your content stands out even among the millions of videos on YouTube. To give you an idea of just how much competition there is, below we’ve provided a list of the top YouTube live chats that currently have 100 or more subscribers.
It’s clear that high-quality content that is interesting, useful, and/or entertaining enough to gain a following will translate to revenue for its creator. Investing in quality over quantity when it comes to content means that even if you have numerous videos on YouTube, your audience will still be able to find the content that they want to see. This is key to building a successful YouTube audience and transforming that audience into paying customers.
Build a community.
Another way to garner revenue on YouTube is to build a community of individuals that want what you have to offer. To do this, you need to put in the effort to engage with your audience, responding to comments, liking comments, and sharing content with your followers. These are all critical components to creating a YouTube community.
Aside from engaging with your audience, one of the most powerful tools that you have for making money on YouTube is to use affiliate marketing. To put it simply, affiliate marketing is when you earn a commission (usually around 30% to 40%) from sales that are referred to you via a special link or code that you place on your website, blog, or social media channels. There are a variety of affiliate marketing programs from which you can choose, so it’s important to do your research before committing to one.
Monetize niche communities.
Now, you might be thinking that as a channel owner, I’d lay out the step-by-step blueprint for making money on YouTube. While I can’t speak for every circumstance, here’s a general idea of what you can expect if you decide to go down the route of monetizing your channel.
The first step is to determine how much money you’ll need to make to live your life the way you want to live it. This will depend on your situation (i.e., number of children, marital status, etc.). Calculate your yearly expenses (e.g., housing costs, medical bills, etc.) and add an amount sufficient to cover your costs (e.g., 30% to 40% of your expenses).
Once you’ve determined how much you need to make, take that amount and divide it by the estimated hours that you’ll need to put in to run the channel (i.e., 20 to 30 hours a week). The result is how much you’ll need to earn each week (e.g., $500 to $1000 per week).
Keep in mind: If you want to monetize your content, you’ll need to make at least $500 per month to break even. After that, you’ll need to make at least $1000 per month to turn a profit.
If you’re looking to make passive income (i.e., money that keeps on giving), consider creating a blog around a specific topic (e.g., tech, lifestyle, etc.). Doing this allows you to display ads on your blog which, in turn, earns you money. You can also consider creating a YouTube channel around a specific topic and then using affiliate marketing to promote relevant products on your blog and across social media platforms (e.g., Facebook, Twitter, etc.).
Keep in mind: If you want to make passive income, you’ll need to make at least $5000 per month to break even. After that, you’ll need to make at least $8000 per month to turn a profit.
Make money from memberships, live chats, and podcast sponsorships.
On the surface, making money from memberships, live chats, and podcast sponsorships might seem like an easy way to make money on YouTube. After all, all you need to do is get people to join your site or channel, have them engage with you via a live chat session, or find a way to get product sponsorships. These are all easy ways to make money, but there’s a lot more that goes into it than you’d think.
To start, you’ll need to determine how much you’ll need to make per month to live your life the way you want to live it. This will depend on your situation (e.g., number of children, marital status, location, etc.). Once you’ve determined how much you need to make, take that amount and divide it by the estimated hours that you’ll need to put in to run the channel (i.e., 20 to 30 hours a week). The result is how much you’ll need to earn each week (e.g., $500 to $1000 per week).