ONLINE MEDIA- building a business on YouTube, podcast, social media: how do you build the most influence (and make the most money)?
This is not ESSENTIAL to succeed, but if you have a large online following it will help ANY business to a large degree
If you are skilled in building online influence, you will be able to help any business that you make by building high interest and hot leads. Online influence is massively growing and will become an even bigger aspect of marketing a business in the next 25 years
It will also make lots of money by itself! Tens of thousands of people make over £200k per year just from the online influencing platforms alone
So this upcoming topic is about how to make money online with the power of your influence (YouTube, podcasts, online course downloads, and social media influencing)
So we will look at:
-direct money from YouTube
-indirect money from YouTube
-how to grow and monetise YouTube
-indirect money from podcasts
-how to grow and monetise podcasts
-direct money from downloadable courses
-how to grow and monetise courses
-indirect money from social media
-how to grow and monetise social media
-how to link YouTube, podcasts, courses and social media together to grow all of them
-how to use the influence from these to help your product-selling business
-how to use the influence from these to help your service-providing business (including b2b)
These will each be their own insight but I havent planned them so there might be more as I talk about these topics! So there will be a minimum of 12 insights on this broad topic
DIRECT INCOME FROM YOUTUBE
This takes the form of ad revenue per 1000 views- how much do you really get paid?
This does not include affiliate marketing, sponsored products, et cetera! These are INDIRECT income from YouTube because you are using your YouTube influence to ask for money from other people. With DIRECT income from YouTube, the company is paying you directly to be on their platform.
The only way YouTube does this is with ad revenue, and this is given to you based on video performance
Some videos make small amounts (such as £0.50 per 1000 views) and some videos make large amounts (such as £22.00 per 1000 views). This is determined by your video SUBJECT, the ANALYTICS of who watches your video and for how long, the SUCCESS RATE of the viewer interacting with the advert, and HOW MANY ads you show in one video.
The best performing videos are long videos on financial topics, because these tend to score highly in all four categories above! They have long videos and a high percentage of people click on the ads on finance videos. So an episode which interviews a financial expert for 45 minutes would be an excellent video for making lots of money in ad revenue!
However if you can make a video that gets paid £10.00 per 1000 views and it only gets 100k views (£1000) it will pay you less than a video that gets paid £1.00 per 1000 views and gets viewed 2M times (£2000), or if it takes two days to make a £10.00 per thousand view video, versus a video that you could make two every day, the video that you can make four times the frequency means it can be one quarter of the payout (so a £10.00 video once every two days or a £2.50 video twice per day are exactly the same).
So if a video makes £1.50 per 1000 views, and a video is viewed 1M times, that means the person was paid £1,500 for that video. Today (2020) YouTube deducts its fee BEFORE it pays you for your ad revenue. So when you see your revenue (for example £10,000 in the last 28 days) that is the amount that you will receive from YouTube. So if you see that you have had 10 million views and made £10,000 that means you made £1.00 per thousand views
Direct revenue from your channel is good because you can see exactly how much you were paid. BUT it is quite a weak way of making money from YouTube compared to indirect methods! These indirect methods use your influencing power to make money for other people (or your own products) and this is where the majority of income is generated when you have a successful YouTube channel with high influence
So in general indirect methods are superior and make far more income than direct methods (ad revenue)
In the next insight we will look at these indirect methods, and then we will look at HOW you build a successful YouTube channel!!
I wrote this in about 5 minutes with the thoughts in my head during a work break on a busy day so if I have forgotten anything important please let me know!! Thank you for your time in reading :)