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There are many ways to make money on YouTube and if you’re thinking about earning from this huge social media platform, then you will need this. YouTube has become a booming industry and Nate Woodbury created wealth in his company through it. Carolyn Norris is joining him as she has concerns of her own on how to make money on YouTube and Nate will be answering her questions.
Welcome back. In this episode, I’m going to share several different ways that you can make money on YouTube. Carolyn Norris’s here with me. She asked me this question so I thought it’d be great to kind of teach you in this video and to teach you at the same time. -I mean don’t you want to know? I want to know. How do you do it? -Alright. So, I’m curious what how do you think people make money on YouTube? -Okay, so I have these different things going on in my brain about it because I don’t even know if they’re real. Okay. So, you consistently are you making your videos and everything. You could either… You’re either making money because you have some kind of program that you’re basically pitching to them eventually after they get to know you… And so there’s that. And then I think some people do make money through ads but I don’t really… I don’t know that’s really real. -Okay. -I’m not sure. -Good questions. So, we’ll cover both of those plus we’ll throw in a bonus. -Okay. -So, first let’s talk about the ads. YouTube has an amazing program called a partner program. -Okay. -So, when advertisers pay money to YouTube to show their ads, YouTube gives 55% of that ad spend to you as the creator of the video. -Okay. -That’s pretty cool. -That’s great. -It amounts to like a little bit less than a cent per view. -Okay. -But it adds up if you’re getting millions of views, you’re making thousands of dollars which is pretty cool. I’m to a point now where I am making 5 figures monthly from YouTube ad revenue. But that’s after like 4 and a half years of getting to that point. -Okay. -And so that is significant. We’re making way more money from the other. So… When you have a business behind your YouTube channel. So, but one thing I want to… Let’s actually switch gears for a minute because we could talk a lot more about the ads. You really need to be consistent and put in so much time, effort and money into growing your YouTube channel and your they’re not going to make a return on it for years. And so just with the ad revenue… Right? And so I think that when you can have a business behind it, you can make a return on your investment away quicker. -Right. So the ad part eventually will come as you’re consistent and you grow it but it’s kind of the gravy on top sort of things. -Yeah. I like the gravy on top. -Yeah. Because if you’re only hanging on for that, it’s going to take a long time to get there. And it’s really hard to stay consistent and focus when there’s not some revenue coming in. -It reminds me… Have you heard of an event called VidCon? I’ve never been… It’s a huge event in California. Just thousands and thousands of people come. It’s really a lot of fans of YouTubers. So, there was… There’s this performer, singer on stage that she had on her channel 500,000 subscribers. Her only source of revenue was from ads. And she told somebody afterwards that wrote up an article. She performed onstage at VidCon. Screaming fans. They loved her. They’re big fans. But she admitted afterwards “You know what? I don’t have food in my fridge at home.” And she was worried about what am I going to eat when I go home? So… -She’s like this big YouTube star and then she’s not even making any money really? -Yeah. I mean not… Yeah, not enough. Right? So, imagine if she put on her own concerts. Hello?? Right? Imagine if she had merchandise. -Right. But… Yeah, all she would need to do is just have a little… Some little things with their name on or something. Her fans probably like… Right? -In a more traditional business, whether it’s… Whether it’s real estate, whether it’s you know, you’re a fitness coach or whether you’re selling up a product, the key on YouTube is not to make promo videos. So, that the video itself because the strategy that we talk a lot about on my channel is that you can use YouTube to really build a following. And build influence. Right? -Right. -Build a tribe. And so to do that, you can’t just sell stuff. -Right. And and you know… like I said, I have reviewing a bunch of just different channels to see what I like. And there was… There’s one that I really… Because some of the other ones, it almost seems like they’re doing great, they’re giving great content but it kind of seems like that singer like, I don’t even feel like they’re making any money. And then there’s other ones that you’re like, “No, I’m not buying your stuff.” Or whatever. But there’s this one that she’s like the perfect mix. Like she gives you tons and tons of real value that you just feel so extremely grateful for. And then just very subtly, you know, just very subtly, she’ll just encourage you to do her program. But it’s a natural… It’s a natural flow with the fact that she’s trying to help you. Like she’s already helped you a ton and here would be their next step in getting more help. -That’s exactly… That’s exactly what we do and what works. And so, the key is to really give value to really… You don’t hold back. You don’t hold back your secrets. Like there’s no reason to hold back your secrets. But give them away. People will really value that and then at the end of your episode, at that point, people know that you’re training, your education or the video is done. And now, you can give them a small sales pitch. And now and if they don’t want it, they’re done with the video, they leave but a lot of people will want to hear it. Another thing that we’ll do is we’ll give them away something for free. So, we’ll just say, “Hey, if you really valued what we taught in this video, I’ve got a book that I want to give you for free. That will go into a lot more depth. Go ahead and just click the link below.” And that enters them into your sales funnel. -And you give something else for free? Real value there. What about… Because that’s a really great idea. And what about…? I’ve noticed a lot of them offer like you could be part of their Facebook group or you know, that’s another thing for free. I… -Yeah. Well, there. When you mentioned Facebook, there are some challenges because YouTube and Facebook are enemies. -Oh, I see. -If you have a link to Facebook on YouTube and people click on it, YouTube will show your video to less people. -Oh, wow. That’s good to know. Thank you. -Same thing on Facebook. If you post your YouTube video there and and Facebook notices people are leaving and going to YouTube, Facebook will bury your post. And it’s not just those 2. It’s like all the major social media platforms do that. But with YouTube, you can get your own website approved. Once you’re a part of their partner program, you can submit your own domain name to be approved. And so any penalty that you would normally get for linking somebody to go elsewhere, it’s like really minimized because it’s an approved website. So, you can you can just tell people, “Yeah, I’ve got a free book. Click on this link and go there.” Or “Hey, I’m putting on an event if you’d like to know about it, go here.” And you just link to your own website. I mean even if there is a little penalty, it’s worth it. Because you’re taking somebody from the public page or the page that YouTube controls. Not only shows your video but shows everyone else’s around it. Now, they’re going to your website and that’s where you can put a promo video. -Oh, right. Because they’d be expecting it. I mean, you know, that’s appropriate. -That’s the key. People are expecting it. -So, that’s the thing. You want to do things in the right order and in the right spaces where it’s… It feels like you’re givingthe proper value in the proper content what people like are expecting. -So, the amazing opportunity on YouTube is people are searching. And in a previous video, that we filmed with Carolyn we talked about keyword research. You can link to that one right up here. -It was awesome. -Yeah. -So, because people around the world are now searching for you, they find these videos that teach them and are helpful in our educational. Now, they’ve become fans of yours. And at the end, you can put a little call to action that sends them to your website so that you can grow your business and do well a lot better than that performer. -Yeah because once they’re on your website then they can check out things that you actually have for sale and that’s all appropriate and fine. And that’s not… Yeah. -So, the bonus that I wanted to share is there’s actually a website called patreon. And patreon is where you can sign up as a patron or a fan or a contributor to someone’s channel or like that you can do it for podcast too. But it’s really popular for YouTubers. So, if somebody liked the videos that you were creating. And if they wanted to donate $1 for every episode you created just because they want you to encourage you to keep creating videos… -Oh, I see… Like at a literal fan club that’s like supporting you? -And so, what a lot of YouTubers have done is they’ve created their own patreon you know, subscribers system where it’s hey if you at least donate one dollar per episode, we’ll give you these additional perks. We’ll send you videos early. Or we’ll do meetups and let you come and participate with us. There’s… -Like you’re kind of a VIP YouTube channel watcher. -Yeah. -They’ll give… Exactly. They’ll give them swag with their logo on it. There’s… So, there’s a channel that I follow. It’s called Sailing La Vagabonde. That’s the name of their yacht. They travel around the world. They live on this yacht. And they just blog about it. They post a couple of us once a week. They are getting paid about $12,000 per episode from their fans. -Oh my goodness. -They’re making ad revenue. -Right. And they’re making this huge petreon revenue. -Okay. So, they don’t necessarily have a business per se behind it as far as like being on the… But the fans love it. They want to see… -They want to go on the adventures with them. -Right. From their cubicle, right. -So, that’s kind of a bonus strategy that’s really linked with the advertising side. Not so much the business side. -Okay. -But you have… You had one more question on this. -Okay. So… Well, this question is just more like… When you’re when you’re helping somebody in your videoing and all of that… You kind of help them you know… Kind of sequence the right proper way to like fit that in, like this check the subscribe… Because you know, how many videos have you watched on YouTube where it’s really uncomfortable? Like that’s a really awkward moment where they’re like saying, I mean some of them do it really great. And it’s all fine. But some of them are like, “I don’t know where that is. But wherever it…” -Right. So, all of my clients are really good at their content. So, when they’re presenting, they’re teaching, they’re really comfortable with that. But what they’re… What they typically need help with is the intro. How do you start a video. So, I’ll just share some bonus tips here. You want to tell people what the video is about. And then give them kind of a reason why they should watch it. Maybe its credibility. So, if it’s like… You know, I’m going to teach you about how to make money on YouTube. And I could just end it there. Or I could say, “You know… And I found three different ways to make money on YouTube. So I’m going to teach you that.” And they’re like, “Okay, I wonder what the 3 are.” So, it gives them reason to actually watch the episode. And then at the end, really want to focus on one main call to action. When you can send somebody to your website and have them join your list, that’s such a valuable outcome, that’s the main thing that I recommend people focus on. Secondary to that would be to encourage new visitors to subscribe to the channel. -Okay. But we just… We practice. And the great thing about video is… If you… If you say it and it just comes across awkward uncomfortable, it’s like… Just take a step backward so we record that. But you do notice that on a lot of channels like… Even… My kids love to watch Studio C. -Oh… Their outros or the clothes where they invite you to subscribe to, it’s just really awkward. Like they’re great actors this whole time doing these skits. And then in the end, it’s like… “Well, this part’s off. I don’t really want to watch this because they’re awkward there.” -Well and have you noticed because… And maybe it’s just me. But I don’t… I personally don’t… I’m not a person that actually does subscriber hits the like button. Even if they tell me to. But if it’s somebody that I have grown to really like, I might buy their program. So, but I’m probably not gonna subscribe and I’m probably not… -Yes. Some people are, some people aren’t. If you’re a person that… I think the real take away is just because you say subscribe doesn’t mean that they will. But if you really give them value, that’s going to be more likely that they’ll actually subscribe. -Right, that’s true. And I guess if you start realizing, “Oh, hey. Well that is supporting them doing more videos.” If you get… If you get attached to them enough so that at that point then maybe you would. -So, to tie in that question to the topic of the video about how to make money on YouTube, subscribers doesn’t directly link to making more money. But the more subscribers you have, the more initial views and engagement you get on your channel and the more views you get, the more ad revenue you might get. But also, the more your channel grows, the more new traffic you’re getting to your channel which leads into your sales funnel. And that’s what’s going to make. -Right. Now, when they subscribe, it’s not like you have their name or their email or anything? Or do you? -No, you don’t have that. When they subscribe, another button can appear that’s a shape of a bell. And if they click that, they’ll get email alerts from YouTube every time you upload. -Oh. -But you never get their contact info. So, that’s what you want them to go to your website? -And just to… Just to give you an idea, my biggest channel with one of my clients is making $600,000 per month just from organic YouTube traffic. So, they’re going from YouTube to their clickfunnels website and they’re making $600,000 a month in sales on the website just from that traffic. So, that’s… -Well, dang! You can make money on YouTube. -So, I often talk about keyword research that I do to pull in that traffic. So, I’d like to offer everyone that’s watching a free gift. I have a keyword research guide. Alright so I’ll try to remember to put this down in the description but if you text the number 415-528-7403 and text Hero1 to that number, you’ll get my free keyword research guide. It goes all through all the steps on how to do that. -That’s cool.