How to Diversify Your Revenue on YouTube

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YouTube is the largest video-sharing platform that the internet has to offer. It is owned by the largest search engine Google. Also, the said video-sharing giant is the second largest search engine next to its parent company. This is why many businesses, artists, and content creators are utilizing the platform to earn revenue and reach a wider audience.

YouTube will not be what it is now, if not for the creators who contribute videos to the platform. On the other hand, artists and content creators are running the world as their own bosses and CEOs. 

How to Diversify Your Revenue on YouTube

Besides, YouTube believes that artists and creators should have various ways to make money through the platform. For this reason, it created many ways that could help them increase their revenue. 

Increase Your Revenue on YouTube

1. Utilize your merch shelf

Content creators and artists working with any of YouTube’s merchandise partners around the world can set up their own merch shelf right under their videos. 

A merch shelf allows viewers to browse and buy merchandise directly from the watch page. Also, it provides fans with the opportunity to support their favorite YouTubers to buy purchasing views or merch from them.

For instance, Seth James DeMoor inspires other people to take up running through his channel. He organized and lived streamed a virtual marathon despite the cancelation of his organized physical events. On the event’s day, he successfully sold thousands of dollars worth of merchandise. 

On the other hand, celebrities like Selena Gomez utilized the merch shelf to offer her fans with exclusive albums along with her music video for “Rare.” The merch went sold out in less than one hour. 

2. Go Live

Go Live, or YouTube’s option for creators to host a premiere is a way for creators to connect with their audience in real-time. It also provides monetization opportunities using features like Super Stickers and Super Chat. 

Alec Steele, a blacksmith who lives in Montana, uses Go Live to live stream himself while making swords, tools, and sculptures for his viewers’ community. He leveled up the way he makes live videos last April. For this reason, he was able to earn approximately $5,000 in Super Stickers and Super Chat in just one video. 

How to Diversify Your Revenue on YouTube

Similarly, artists like M.S.S Project, a Japan-based rock band, also utilized this YouTube feature. Their fans began a grassroots effort and used Super Stickers and Super Chat on the band’s live stream last March. The fans aim to help the group recoup sunk costs when they canceled their concert. The total loss was more than a million dollars. 

3. Use YouTube’s Channel Memberships option 

Channel Memberships provide fans with an option to pay a monthly recurring fee to access custom perks and exclusive content. The educational channel called Mr., and Mrs. Gao is one of the early adopters of this program. Since the beginning of this year, the channel has seen a more than 75 percent increase in subscribers who pay for a channel membership. Moreover, more than 65 percent of their total YouTube revenue consists of the money they get from Channel Memberships. 

4. Level up Channel memberships

Content creators have the option to set up five different price levels for Channel Memberships. Each of these price levels offers different benefits for members. 

Content creator Akash Banerjee has his videos revolving around social satire and politics. He was able to increase his membership revenues by more than 175 percent. Besides, his channel’s active members increased by 190 percent since March this year. He offers different The  Deshbhakt with Akash Banerjee membership levels. These memberships range from custom emojis, member Q&A, and shoutouts in his content. 

5. Use Search Engine Optimization

Google loves content that utilizes the best search engine optimization or SEO practices. As mentioned, Google is the parent company of YouTube. For this reason, it is no surprise if this video-sharing platform would allow you to reach more audience through SEO. And, more audience means more revenue.

When creating the title of your videos, make sure to use keywords relevant to your video’s topic. Also, it would be helpful if you will use a couple of keywords in your descriptions. 

Furthermore, tags are often deemed as unimportant. However, the truth is that it could help you reach more audiences. For this reason, make sure to stay relevant and specific when using tags. Allow them to reflect on the topics that the content of your videos is focused on. This way, you will make your videos more findable when viewers search for a topic related to it. 

How to Diversify Your Revenue on YouTube

6. Create content consistently

Consistently creating videos has helped a lot of channels to say on top of their viewers’ choice. The type of videos you create does not really matter, same as your follow-up strategy. What is more important is to regularly feed your audiences with videos that you know they will enjoy watching. 

Needless to say, creating content regularly will provide you with benefits. But apart from those benefits, consistency plays a major role in the algorithm of YouTube. Actively creating content will encourage YouTube crawlers to check your channel out more often. This will then lead to a higher ranking on YouTube. 

7. Customize your video’s thumbnails

Your thumbnails are the visual representations of your videos before your viewers watch them. A lot of viewers decide whether or not they will watch a particular video based on its thumbnail. For this reason, make sure that your thumbnail is visually pleasing and can attract your viewers’ attention. 

It would also be helpful if you will have your own brand that will make people recognize. This way, your viewers will be able to know that the video they are watching was published by you even if they haven’t seen your name in it yet.

Date: October 7, 2020 / Categories: YouTube, / Author: Joy P

October
7
2020

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