Getting Good with YouTube: Monetization [Part 4]
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All this work with video and YouTube and you’re wondering the point of it all.
First of all: building any community behind your brand is well worth the effort because it helps you become recognized in your industry.
But let’s get down to why we’re doing this …. We want to make some money.
All the content, all the production value, all the interactions, and all the effort – it’s there so you can share great information but more importantly … sell an offer.
Throughout this week I want to take you from the very basics to a comfortable level with using YouTube in your business. We’ll start with an explanation of the platform and what it has to offer and move through the process of creating videos, gaining subscribers, monetizing the work, and growth.
In this article, part 4 of our series, I want to show you some of the various ways you can monetize your content (and some things you should keep in mind when doing so).
First Up: What to Avoid
I’d like to start off by noting that you don’t want to go too overboard with pushing an offer or monetizing the video.
Remember that people are coming to your videos for great information or to be entertained. You should certainly keep the monetization in mind whenever you’re creating the video but don’t create it for the sole purpose of selling (unless it’s a review, obviously).
I guess what I’m trying to convey is that you don’t want to just make a commercial.
As I’ve mentioned before – make a video you’d want to watch.
That’s all you really need to avoid: pushing too hard.
Monetizing Your Efforts
There are many different ways you can go about monetizing your YouTube video efforts.
Here are some of the basics – but play with the formats and see what you can come up with, too:
- Sponsored Videos – The video could be completely sponsored by a company and their product but be sure to have a disclaimer in the beginning. You can get these opportunities by building a popular channel and/or contacting businesses explaining the work you’re doing and whether it’s something they’d like to be a part of.
- Partner Up – You can partner with Google and monetize the videos automatically. Ads will display within your videos and if they’re clicked you get a piece of the pie.
- Promote Offers – Use the video as a platform to promote products or services. Go onto your preferred affiliate program/network and find products related to the content you plan to cover in the video. Create a short link which can be placed as an overlay within the video and within the description. Consider, also, creating a review for said product/service and use that link in place of the shortened URL.
- Lead Magnets – Focus most of your video efforts into driving people to your landing pages. Here you can get people to opt into your lists which then gives you the opportunity to share new content and promote products/services (the basics of email marketing – which you should already know).
- Pitch Your Services – Craft videos which work like case studies. These videos can be crafted in a way that show off your expertise rather than just walking them through a tutorial or getting a laugh. It’s much like a sales letter. At the end of it all – drive people to your services page and solicit leads.
- Do It For Others – Use your skills in video production to create content for businesses that aren’t yet on board with YouTube. Be their representative. You take a cut of the action if you’re promoting their product or you’re getting paid directly for the creation of these works.
One final note – be aware of copyright. Don’t use media you don’t own in your video else you may be severely limited in monetizing the video. Other than that – keep pushing great content, build the views and subscribers, and test the waters of monetization.
Think: The Big Picture
Don’t limit the scope of your YouTube efforts to a single point of sale. Think of the big picture.
In writing you have the concept of a money page (this is often an evergreen page). These are pieces of content that transcend the trends and become resourceful for years to come.
Whenever you create a video you should always think: what else could I do with this work?
- Perhaps this video could be embedded into one of your ebooks?
- Perhaps a popular video could become an entire series? Maybe even a video course!
- Perhaps this video could be shot in a way where you can cut and paste new offers every few months, without having to change out too much of the core content, and then re-uploaded?
- Perhaps you can use these longer videos as part of a prerecorded Webinar?
- Could it be condensed and sold as a course on physical media?
- Would it be something you could use as part of a training course during local meet ups?
Think beyond the point of publication. Think of every way you can reuse it in your business. Think of how you can craft videos that are still as valuable in the coming years as they are today.
YouTube can become a cash cow if your channel takes off in popularity and you build up those video views. However, as I’ve said before – don’t just hope things happen – work toward a predictable, steady growth.
Having a predictable growth in your monetization will help you see a variety of data which can be used in optimizing your efforts and conversions as opposed to using a gut reaction to some form of traffic spike. Think long-term, here.
There are many different ways to earn through YouTube directly and indirectly. Try them all. But more importantly don’t piss off your audience. Keep giving them great information and entertainment, do what you need to do with promotions, but don’t go too overboard else you’ll alienate the audience.
In all – play around with it. Monetize some videos. Use others for lead generation. Try your hand at creating a business network which opens other doors of opportunity. Make it your platform.
Are you ready to monetize your video efforts?