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Today I’m going to share with you how to make more money on YouTube beyond doing ads.
That’s the core focus of today’s lesson. I know ads are an easy way to get started in the YouTube market space where you can start generating money and revenue right away.
That’s usually a good approach for most people when they’re getting started, but eventually, you want to evolve to other areas and avenues. I’m going to share with you the three primary ways that you can make serious money online. Yes, there are only three ways in total.
My Personal Story You Might Find Useful to Hear
Before we get started, I want to share with you a quick little story. Back when I did web design (10-15 years ago) advertising for me was the way to go paid sponsorships.
You know the drill. You got money, and you put on ads on your website for the traffic that you got. There’s some cash flow, and as a college student and a high school student I was thrilled.
It allowed me to pay and live my life with some passive cash flow. Now, that’s all fine and dandy, and that’s usually where most people start when they’re doing online YouTube and trying to make money online.
The Only Ways to Make Money Online
This is what you can do:
- Paid sponsorships
- Affiliate (sell someone else’s product)
- Sell your product
And believe me, that’s it. Everything else you’ve heard so far stems from this.
This Is The Way How Paid Sponsorship Works
If you want paid sponsorships, you could do paid sponsorships on a podcast or a YouTube. This is the easiest way to start with, and most people start this way.
The bad news is that you get probably the smallest amount of money in return. If you have 10 000 people coming to your website what you’re getting is around 10$ for those 10 000 visitors.
You’re going to get a few pennies per visitor, and that’s how things are. That means you need a lot of traffic, views, and videos. That’s why people with multi-millions of YouTube subscribers make good money.
- The answer is simple > they have the traffic.
If you want to make an enormous amount of money this way, the key is – you need traffic.
This Is The Way How Affiliate Works
If you sell someone else’s product, you’re an affiliate. That means when you’re an affiliate you’re making that affiliate money in cash flow. This method is a medium difficulty because you have to have an email list; people have to have some trust.
You can make quite a bit of money (sometimes even much more than selling your product). It depends how good you are with affiliate marketing.
This is how the thing is with affiliates.
A Quick Example – Affiliate
Let’s say you have 10,000 visitors trying to sell someone else’s product. Remember, you get a commission of 5-20 % (depending on the program) every time someone buys the product.
If five or ten people buy a product, you can get around 100-200$ from that traffic. These are rough ideas because all of that it also depends on the cost of the product, but you get the bigger perspective.
The downside, for some people, can be that when you want to take this road, you need to do a review video. You also need to collaborate with people, to write e-mails back and forth. You’re dealing with all this stuff. If you are ready for that, you can earn a pretty decent commission.
This Is The Way How Selling Your Product Works
What’s important to know is that selling your product means this – that’s the approach if you want big money. However, this is the most challenging situation. You have to have a name brand, an image that people already know.
If all things being considered equal, you can make much more money selling your product. If you don’t have the traffic and you have a small YouTube channel you can make it up by selling your products.
A Quick Example – Your Product
Let’s say that you have a product that’s 97$ or 197$ (depending on what product you’re selling), and 2 or 3 people buy it. Well, you got 600$ that you are making.
This is a little bit more than what the affiliates would make. And much more than the paid sponsorship.
The thing here is that having your product takes development time. It is just far more difficult. Because you have to brainstorm about it, you have to create a product, and you have to create a sales page.
All those things start to take more and more time, but that’s why you’re charging much more. You’re getting the full revenue share.
These are the main three ways to make money online. It all works a little bit differently. But overall this is the concept.
If you want to get away from ads, you know what to do to make more money. But, if you’re dreaming of ramping up and getting a hundred percent of the profits, then you got to sell your products.
Start thinking about growth at how to get to the next stage and remember this: When you’re building a business you want to have all of these.