868 – Don’t wait to get revenue: Tom talks YouTube Money

Episode 868 – YouTube Money
[00:00:08] Welcome to Screw the Commute, the entrepreneurial podcast dedicated to getting you out of the car and into the money with your host, lifelong entrepreneur and multi-millionaire Tom Antion.

[00:00:24] Hey everybody, it's Tom here with episode 868 of Screw the Commute podcast. Today, we're going to talk making money on YouTube. So here's the thing. The first goal you should have is a thousand subscribers. That should be a goal for you. But guess what? That doesn't mean you have to wait for a thousand subscribers to make money. That's what I'm going to talk about today. All right. Make sure you list grab a copy of our automation book at screwthecommute.com/automatefree. It's going to save any of our hundreds of episodes. If you just need even a couple of the a quickened in this book, copy and paste. Check out my mentor program at greatInternetmarketingtraining.com any you want. So here's the thing you only get this goal would be 1000 get rich as well you deck. Why is that a good enough? It's an even number. Kingdom kind of sounds cool and and but the sorting this is is because they went that was once you get qualifies want to make you in partied in to getting awesome to Google's ultra program accessory. So trust a thousand subscribers and we trust you can put cameras ads and sell ads and you get most of the revenue, adding that. Now, I'm not in favor of that as being your goal. All right. I'm going to tell you about that in a minute.

[00:01:37] But so here's the thing. Some of the studies have shown that let's say you even had 1000 subscribers. Well about. The subscriber to view rate on the, uh your video. Averages about 8 to 14%. And that means that you've had, uh, 80 to 140 impressions, ad impressions. And even if the person clicks skip, that number is even lower because the advertiser doesn't have to pay if they if they. Skip it if the viewer skips it before thousand or 30s say all right, so so average. Again, this is a big average because it's nobody knows for sure. And it varies depending on your market and a lot of different variables. No no need to talk about them here. But average is about 5 to $7 in sons per have a thousand add any uh, empathic ones is how young would make for a. Again, this is one of the reasons it's for me. It's not. It shouldn't be your first goal. Because. In 2023. They lowered the requirements for certain things like paid chat and certain shopping channels, where you only have to have 500 subscribers to start to qualify. See if you had 500 subscribers, but you don't have a certain number of views and everything, they still, you know, you can buy subscribers and then if you don't have the views, they know that that you're, you know, you're faking your your subscribers.

[00:03:32] So anyway, you can have that as a first goal, 500 subscribers to get this other stuff going, but I'm still not in favor of that. Okay. Um, because most people that's their goal. And then they never get anywhere because it can take a while unless you're super popular to get a thousand subscribers, and then they never make any money, and they give up long before they should have say so, because most of them are shooting to be in that AdSense category of a thousand subscribers and a bunch of views so that you can get the ad revenue. And I'm certainly happy for you to do that. But don't do that in the beginning. In fact, I don't do it at all after all these years. I built YouTube because there's other ways that you can make money with a couple subscribers, see, and that's what you should be concentrating on, especially in the beginning. Now, if you consistently get millions of views. Yeah, take it, take the ad revenue and you can still do these other things. But until you get to that point, I don't want you to be discouraged with no revenue coming in. So, let me mention some of the other things you can do as soon as you get a YouTube channel going. All right. Now, certainly if you have one subscriber, it's going to be hard to make a lot of money, but you don't have to have 500 or 1000 to start making decent money.

[00:05:05] And so one way is your affiliate program. So you just go find affiliate products you like, you talk about them, show how they use them, things like that. I even do it without me even being on the screen. And that I use screen capture video. So so that's a way unboxing kind of stuff. People love those. Uh, so that's affiliate stuff. Patreon. That's where you know your subscribers. If you do a good job, you can just ask them to contribute a few dollars a month and you have different levels of that. You can sell merchandise. Uh, I used to sell Butt Camp t shirts and things like that because, uh, I probably should redo that because butt camps, the longest continuously running, uh, internet seminar ever. And, uh, you know. Yes, I mean, butt camp, you know, because I named it something crazy because everybody was begging me to do boot camps, but I said, nah, I'm sitting on my butt making all this money. I'll call it butt Camp. And it kind of caught on. So merchandise you can sell. Uh, what I always tell my students is I want you to sell your own stuff. That's where you make the most money. So especially if it's digital. So you can really quickly take my email or book marketing class and get an e-book going. And you could, you know, they go for 17 or 20 7 or $47.

[00:06:39] I have one that sold for ten years for $97. Okay. I bought some that were $97. Even so. So your own stuff. And then of course, another possibility is sponsorships, but they're harder to get if you don't have a lot of people because nobody wants to sponsor a channel with no views. But you still don't have to have enormous numbers to get somebody to sponsor. You say so. So there's loads of ways to make money, but don't make the mistake of just shooting for that thousand subscribers on a new channel and being discouraged when there's no money coming in. You have all these other avenues that can keep money coming in, and then if you build it up or if you hit some real big videos, you can take the ad revenue and still sell your own stuff. So that's how you make money on YouTube. Now, if you want help with this and the other billion things you need to be successful online, check out greatinternetmarketingtraining.com it's the longest running, most unique, most successful ever in the field of internet and digital marketing. And you get one on one attention from me and my entire staff, which nobody at my level will even talk to you, all right. Let alone actually teach you stuff. All right. That's my story. I'm sticking to it. We'll catch you all in the next episode. See you later.