Lesson: Exploring monetisation options +beyond ads

 

  • You don’t need to be a YouTube ‘celebrity’ to diversify your revenue. You just need enough fans who love your channel to make it worth your while. Extra income can potentially shift your channel from a hobby to a career and allow you to take on more ambitious projects.

  • With ads, there’s not a huge amount of effort on your part after you’ve set them up (and are making advertiser-friendly content). But with some other non-ads-based monetisation options, you’ll need to prep and promote them effectively to interest viewers to make a payment. But don’t get intimidated, this course will walk you through the details to help you maximise your efforts.

  • Tips

    1. Consider what of value you can give your viewers in return for their purchase.

    2. Promotion is key!

  • See it in action

    1. More ways to monetise

    2. Tim Schmoyer from Video Creators shares some of the revenue streams that he’s experimented with on his channel, including merchandise and crowdfunding.

    3. Alonzo: How I made YouTube work

    4. Coming from a small town didn’t stop Alonzo Lerone from finding a new opportunity on YouTube. Find out how he transitioned from a bakery job to succeeding on his terms with YouTube.

  • What monetisation options are right for my channel?

  • Will my audience support this new endeavour?

  • What should I offer that my audience will actually want to pay for?

  • How much time and money should I expect to spend?

  • There is no magic formula that will guarantee how much money you will make and how long it will take you to set up, but you can estimate. Here are 6 things to consider:

    1. Each new revenue stream option will require you to do some setup and background work, as well as make time to execute it. We’ll get into the details for the eac

    2. h.

    3. Think about your schedule and factor in how much time you actually have to work on a new project like this.

    4. Determine how much money you want to make. Be reasonable at first – you can always adjust later!

    5. Consider whether you’ll need to invest money up front. For some revenue streams, like Super Chat, you may be recognising your fans with a shout out or a mention in your next video. But others, like merchandise or crowdfunding, may require some money up front to build out the products or campaigns for your audience.

    6. Estimate how many people might spend money on it. How many engaged fans do you realistically have on your channel? If you’re not sure, consider asking your audience with a poll to see if they would be willing to participate in your next venture. Let’s say you have 50,000 subscribers, could you get 100 to buy a piece of merch or participate in Super Chat? Would that be enough? Remember, this is going to be an iterative process, so start slow and expect to keep revising your numbers.

    7. Maximise your revenue by considering more than one new monetisation option that you may be eligible for.

Try it

Review the different monetisation options available. Does one seem more feasible than another? Pick one to start investigating.

 

Decide how much extra money you would like to make. Estimate how much time you have each week to work on it and schedule the time on your calendar.