3 Ways Your Business Isn’t Making Money on YouTube

James Murphy
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Everyone knows YouTube. It's the second-largest platform in the U.S. just behind Google. Did you know that growth doubled in watch time for YouTube videos on “which product to buy” between 2017 and 2018? Doubled! Now is the best time for your business to get started making money on YouTube.

Okay, this is nice information but how does it make you money?

There are three ways your business can start making money on YouTube:

  1. Influencer Marketing

  2. Creating Your Own Channel

  3. Adsense

That's the shortlist. There are infinite ways your business can generate revenue hand over fist on YouTube but let's take a deeper dive into the nuts and bolts of it all.

1. Making Money on YouTube Using Influencer Marketing

We’ll start here because it doesn’t require you to go out and buy your own camera equipment and start a YouTube channel from scratch. You simply put your product in the hands of someone who has already built a loyal following.

What is an influencer, you may be wondering?

Quoting directly from Influencermarketinghub.com:

“An influencer is someone who has:

  • the power to affect the purchasing decisions of others because of his or her authority, knowledge, position, or relationship with his or her audience.

  • a following in a distinct niche, with whom he or she actively engages. The size of the following depends on the size of his/her topic of the niche.”

Here’s the thing. Influencers aren't just an Instagram thing. Influencers have a tremendous impact on YouTube viewers as well. In fact, 90% of people say they discover new brands or products on YouTube.

Using an influencer marketing strategy on YouTube is similar to a company putting its products in a large retail store. Why would a company want to have their products in Macy’s? Because millions of people are already familiar with and trust Macy’s. If the product is good enough to be sitting on display at Macy’s, then it must be a great product.

Influencer marketing will be a $10 billion dollar industry in 2020. Guess what? We’re already in 2020. And that was $10 BILLION with a ‘B’.

Why are businesses dumping so much money into influencer marketing? Influencer marketing has 11x higher ROI than traditional digital marketing, according to a Tapfluence study in 2016.

Investing money in influencer marketing. It’s a great way to expand your business into the YouTube cash-cow without creating your own channel or while your YouTube channel is just getting started.

You’re excited, I can tell, but before you go writing checks to anyone with a YouTube channel, there are a few things to take into consideration first.

How to Find an Influencer

For example, you might be wondering, "How do I find an influencer?"

Finding influencer(s) that are the perfect fit to represent your product or brand starts with searching YouTube. That's right, YouTube saves the day again!

But remember, finding the right YouTube influencer is similar to identifying your ideal customer. Influencers build followings based on relating to certain demographics and niches so an ideal YouTube channel should relate to your product and niche.

If you want to get your product in front of as many eyes as possible, start with channels with a large subscriber base. More subscribers equals more views equals more money in your pocket.

Most influential YouTubers have companies pounding on their door daily to negotiate influencer marketing deals. Don’t be afraid to work with smaller YouTube channels. You could find a channel that is on the rise and it could be a win-win for both parties.

2. Making Money on YouTube by Creating Your Own Channel

Creating a YouTube channel for your business could be the goldmine you’ve been looking for.

Sure, creating your own YouTube channel can be a huge time investment and a steep learning curve but laying the proper groundwork can yield limitless growth. With the power of the internet at your fingertips, there are many great resources to help you get your YouTube channel off the ground with ease.

“Don’t make a living on YouTube. Use YouTube to make your living.”—Sean Cannell, author of YouTube Secrets.

Let’s think about that quote for a second. What do you mean don’t make a living on YouTube?

Making money on YouTube should be a growth strategy and fuel your existing business. It shouldn’t be the only pillar holding your organization up. Think of YouTube as fanning a fire. Fanning a fire that isn’t lit yet doesn’t help you, but fanning a single ember with a little effort can produce a roaring inferno.

Besides being a limitless money-making platform, YouTube can be a force multiplier. When it comes to building your brand awareness and giving customers a peek behind the curtain, it can put a face and a voice to your business.

Your ideal customers get to know your company and products in an intimate setting that words on paper could never deliver. Using YouTube videos to genuinely help people solve their problems turns viewers into customers. According to Forbes, 90% of customers report that product videos help them make purchasing decisions.

3. Making Money on YouTube with Adsense

Disclaimer: This section only applies if you have already created a YouTube channel.

It's a must-mention tip. Most “experts” skate right over this YouTube money-making secret because they think it's peanuts money compared to other potential revenue a YouTube channel could generate. Honestly, they’re right.

But it’s important for you to know that this is the cherry on the top of the sundae. Yeah, no one buys an ice cream sundae for the cherry. They’re after that rich and delicious ice cream topped with hot fudge.

Doesn’t the sweet fruitiness of the cherry-on-top truly make the whole dish? That’s YouTube Adsense. It's the sweet little cherry on top.

If you’re putting the work into creating brilliant, relevant content for your customers to engage with you, you might as well get a little cherry on top.

The fact is, the money you earn with YouTube Adsense is not a money-making strategy for your business. However, many industry experts glide right over this YouTube money-maker because they feel it isn’t worth mentioning.

It’s worth mentioning YouTube Adsense because it monetizes content you've already worked hard to create.

Summary

Making money on YouTube can be a powerful way to grow your company. If your business is not involved in YouTube yet, it should be and it’s easy to get started.

Do you need help writing YouTube video scripts? Maybe you need some compelling content for your YouTube video description? Copywriters.com can help you get your YouTube channel rolling with force!

You have every reason to start today. Happy "tubing"!

James Murphy

James Murphy is a copywriter by day and devoted family man by night. He entertains, educates, and motivates with his words. He’s dedicated to helping you grow your company through compelling copywriting.

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