YouTube is one of the most lucrative platforms for making money online. Unlike other online platforms, you can make money on YouTube in Ghana by creating quality and unique video contents.
The truth is that people love to watch and engage with quality video content online. This is a reason why Instagram is the fastest growing social network in the world. Around the world, over five billion YouTube videos are watched every day.
YouTube has active monthly users of over 1.9billion which makes it the second most popular social network after Facebook which has over 2.27billion monthly active users.
Making money on YouTube is no longer exclusive to platinum musicians or huge influencers. There are plenty of opportunities for everyday people to make money from YouTube, creating great video content on their channels.
It is a really interesting way to make money, and when it’s done right, it can be a very lucrative business idea. In this post, we shared some basic tips and strategies on how you can double your income just by creating video contents and monetizing them on YouTube.
How to Make Money on YouTube
While it is possible to make significant income from YouTube as a content creator, it is not the easiest either. Four hundred hours of video are uploaded to YouTube every single minute across the world.
The competition on YouTube is pretty intense and making money online becomes challenging every day. Here are some powerful strategies you can employ to jumpstart your earning potential from YouTube.
1. Become a YouTube Partner and Make Money With Ads
To monetize your channel with Google Ads, you need to sign up to become a YouTube partner. Basically, Youtube monetization works on the basis of the platform provided by Google known as Google Adsense.
Actually, it is Google Adsense which pays you for your videos and not YouTube. Adsense is responsible for placing Ads on in your videos.
First, to qualify for monetization, your channel has to have at least 4,000 hours of watch time within the last year and at least 1,000 subscribers. This policy went into effect at the beginning of 2018 and is another way for YouTube to prioritize watch time (as opposed to view count, which was the platform’s previous focus).
Steps to Monetize Your YouTube Videos
Once your channel has achieved the total number of required YouTube hours and number of subscribers, then you are ready to enable monetization on your videos.
- Login to your YouTube account.
- Click on My Channel in the drop down after you click on your icon in the top right corner of the screen.
- From this screen, click on YouTube Studio.
- On the bottom, left-hand side of your screen, click the option for Creator Studio Classic.
- Once you’re in the Creator Studio, click on Channel > Status and Features. Finally, in the box that says Monetization, click Enable.
After you’ve enabled monetization on your YouTube channel, your videos can be submitted and approved for monetization. In order to earn the revenue that is generated from these ads, you will need to associate a Google AdSense account accompanied with your YouTube account.
2. Use Affiliate Links on YouTube
Promoting affiliate links can be a massive earning opportunity for channels that offer in-depth tutorials as well as insightful product reviews.
Affiliate marketing means selling products in exchange for a commission. Hundreds of thousands of companies offer attractive deals to affiliate marketers who promote their products, including huge companies, like Amazon and eBay, as well as smaller companies.
Affiliate marketing is obviously a hugely popular way to make money online from home. Instead of relying on static blogs to drive people to affiliate links, try creating a lively YouTube channel and using it as the primary catalyst for driving traffic and generating sales for affiliate websites.
To make money from YouTube as an affiliate marketer, review affiliate products such as mobile phones, laptops, cars or create “how to use this product” tutorials. Don’t forget to link to your products in your YouTube descriptions – make sure you’re using your affiliate link, or you won’t get credit for sales.
3. Get Sponsorships for Your YouTube Video
If you study some of the most successful YouTubers in Ghana, you’ll notice the sponsorships and advertisements they have in their video recordings. Lots of company nowadays provide sponsorship to YouTube channels for direct advertisement.
To reach for a sponsorship you might need to work on a detailed proposal about the things you are able to provide. Make sure you know well about your audience and the brand you are approaching. The great thing about sponsorships is that you don’t have to give YouTube a cut.
In most cases, the amount of revenue you generate from sponsorships is substantially more than YouTube ad revenue. If you want to get a brand deal and become an influencer on YouTube, then you will have to put yourself out there to be discovered.
How to Get A Brand Deal or Sponsorship
- Find brands and campaigns that match your audience.
- Pitch your creative ideas and present the proposal to the brand within their parameters (product review, 30-60 shoutout, etc.)
- If accepted, you are hired and will begin collaboration with the brand to produce the project.
- Build out content and seek brand approval.
- Get Paid.
4. Sell Your Own Products or Services
You can also make money from YouTube by selling your own products and services. However, you need to, first of all, learn what your viewers need and sell them something of value.
If you want to make 100 per cent of the revenue and have full control of the money coming in? To do this, you need to sell your own products or service.
For example, let’s say you create a mini online training program that you sell for $250. If you can convert just one viewer in every 1,000 views to your $250 video course, you’ll have made $0.25 per view…more than 59-times what you would make with YouTube ads.
You can sell your products on popular e-commerce platforms such as Amazon, Shopify, Jumia. These platforms provide an online store for you to sell your products. By mentioning or linking your products in your videos, you can direct traffic to your e-commerce spot on any of the platforms and make some extra cash.
How Much Can You Make On YouTube?
There is no limit to how much you can make on YouTube. Every cent you earn on YouTube boils down to you.
You can monetize your channel by using ad monetization, affiliate links, and selling sponsored placements in your videos.
On YouTube, you can make money from ads on a CPM, CPV, and CPC basis. With cost per impression (CPM), a typical YouTuber makes $7.60 per 1,000 views.
By Google policy, video creators get 55% of earnings accrued from advertisements while Google keeps 45%.
Now if you are using affiliate marketing as a channel owner, advertisers disburse payment with different models – typically cost per sale or cost per lead. Here, your earnings directly correlate with the number of conversions and sale commissions you get from advertisers.
You can also sell sponsored product placements in your videos. Here YouTubers make money by selling either short mentions or more extended product recommendations on brands looking for exposure.
However, if you have been able to build a measurable following on your channel, brands will pay you. This price may range from $20 to $50 for every thousand views they get on your channel. So if for example, their video on your channel hits a million views, you can be dancing to the bank with anywhere from $20,000 to $50,000. This strategy is a better way to monetize when you aren’t generating millions of views.
How Much Money Do YouTubers Make?
There is no fixed amount when it comes to YouTube. In fact, for thousands of YouTubers, this answer may be nothing, or barely anything. For popular YouTubers, this could be millions per year.
It’s getting tougher to make money, as ad revenue can range from $0.35 to $5 per view, with the safe assumption being $1 per 1,000 views.
The profitability of your channel is tied to both your views and your niche.
YouTubers in highly-viewed niches like listicles, news, celebrity gossip, makeup and beauty, and popular fails quickly pull in revenue with millions of views.
There are also YouTube revenue calculators to help you understand how much you can make based on video views and engagement.
What Amount Do YouTubers Earn for Every 1000 Views?
In line with our previous stipulation, YouTube content creators can, on average earn from $0.30 to $5 for every 1,000 views their videos achieve. In some scenarios, this can be higher, while it’s safe to assume this number is a $1 CPM.
How many views do you need to cash out on YouTube?
Once you attain a balance of $100, YouTube pays you.
Can you earn from YouTube pay per subscriber?
YouTubers channel owners do not receive payment from YouTube per subscriber.
Making money online from YouTube needs a lot of dedication and perseverance. To make a noticeable amount of money, you’ll need to attract thousands of viewers to each video. Know that you’ll need to build trust for your channel by creating consistent, quality content that entertains, informs, and delights.
Making money on YouTube doesn’t have to depend on advertising and it certainly doesn’t mean being held back by new YouTube advertiser policies. The good thing is that you can combine two or more ways of making money on YouTube in order to boost your monthly earnings.
However, make sure your video contents are of good quality for your target audience. If you have a bit of extra money to spend on equipment, opt for a good digital camera to do the job instead of using the camera of your phone.