How to Make Money on YouTube in Nigeria 2020 Update: Good content plays a vital role in monetizing any site. so let’s go down on how to monetize your youtube channels.
Monetizing your channels used to be as simple as just publishing great content, and getting quite a number of views.
Recently, content creators have access to multiple ways to monetize their content. They include.
- GOOGLE ADS:
Joining the youtube partner program is one of the first steps to making money on your youtube. the partnership in question gives content creators access to special tools like the ability to monetize their videos through Google Adsense.
The content creators must have at least 1,000 subscribers and 4,000 hours of accumulated watch time over the prior 12-month period, to qualify.
Youtube monetizes videos through pre-roll, display, and other advertising formats. Then the advertisers pay based on clicks and impression, youtube gives the content creator 55% of this revenue and takes 45% for itself, wow!!
Finally, the content creators must stick to the advertising guidelines. This includes content that contains foul language, adult content, violence, and other subjects will not have ads placed against them.this can include contents on sensitive news, etc.
- BRAND SPONSORSHIP:
This is another superb form of advertising, the BrandSponsorship is also known in the digital marketing world as “Influencer Marketing”. This is where a company will pay a content creator to promote a brand product in a video.
There were more than 700 agencies that help match brands with social media influencers on platforms such as youtube, Facebook, Instagram, Snapchat, and twitter, as of 2019.
FameBit, which is linked with youtube takes 10% of any sponsorship fee it brokers.
- FAN FUNDING:
Channel membership is another popular way of monetizing your channel. In Fan Funding the fans and followers make recurring monthly payments in exchange for bonus conteb=nts like emojis, badges, special videos, live chats, and so on.
In this the youtube partners who have reached 30,000 subscribers can enable this monetization feature on their account, the third-party service such as Patreon also help video creator to monetize their fan base through a monthly membership. Top video creators can earn as much as $40,000 per month from fan support.
- MERCHANDISE SALES:
Another way of earning from your channel is through Merchandise Sales. On Merchandise Sales, youtube partners also have the ability to sell up to 12 items of Merchandise to their audience by enabling this feature in their account.
- REVENUE GENERATION CHALLENGES:
There are some revenue generation challenges that video creators face. The median cost per thousand ad rate charged to advertisers was just $10 at the end of 2018, this is because creators are paid only on monetized views, and not total views, i.e the effective CPM they can earn can be lower.
- YOUTUBE BEST PRACTICES:In order to increase their chances of attracting a large follower base, content creators should stick to the youtube best practices, which include creating rich and engaging content and videos.
Viewers usually come to your channel looking to either be entertained or for a solution to a problem they face, videos get viewed and shared by creating great content.
The more engagement a video gets, the more valuable it is to youtube, increasing its chances it will rank higher within the search result.
However, another way to increase viewership is for content creators to optimize their videos for youtube searches. It includes using the google keyword planner to find words that a large number of people search for and to endeavor to add those keywords within the description and tags of the youtube video page.
And finally, promoting youtube videos via the use of social media and paid advertising is another popular way to earn additional traffic to the video.
For you to start making money on your channel, you have to enable monetization of your youtube account setting, then from there, you have options to join the youtube partners program or have your videos listed on youtube premium.
You should also know those content creators are not paid by youtube for the videos they upload, neither are videos monetized by default.