In Episode #479, Eric and Neil discuss how to make money from videos. Tune in to learn how you can monetize your videos and the types of videos you can create to attract viewers.
Time-Stamped Show Notes:
- [00:27] – Today’s topic: How to Make Money From Videos
- 00:44 – You can use Patreon to have your fans support you through donations for your videos
- [01:22] – Add call-to-actions to your videos
- [02:15] – Product reviews still work—link them to a different platform, like Amazon
- 02:37 – Neil’s YouTube videos are getting hundreds of thousands of views a month that he can retarget
- [03:09] – YouTube needs millions of views before you can monetize from it and their terms are continuously changing
- [03:24] – Videos are a long-term play
- 03:40 – Gary Vaynerchuk’s empire has grown because of the number of videos he has
- 04:02 – Marketing School is giving away 90-day FREE trial for Crazy Egg which is a visual analytics tool
- 04:10 – Go to SingleGrain.com/giveaway to get your FREE copy
- [04:13] – That’s it for today’s episode!
3 Key Points:
- YouTube’s algorithm is constantly changing—video creators need to be just as quick to adapt to the changes.
- Monetizing from videos is a long-term play for your marketing.
- Know your target market and craft videos that cater to them specifically.
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Full Transcript of The Episode
Eric Siu: Welcome to another episode of Marketing School. I'm Eric Siu.
Neil Patel: I'm Neil Patel.
Eric Siu: Today, we're going to talk about how to make money from videos. Money, money, money, right? YouTube sucks right now, because they keep adjusting the revenue or the Adshare agreements with the creators. But the cool thing is you can use Patreon. That's P-A-T-R-E-O-N. You can go to Patreon, and you can have your friends come to you, donate to you, have different tiers of people. An example of this, let's take a Playboy model for example, right? She might have a private Patreon channel where people can donate to her. People can do it that have ... They draw cartoons, they do videos, things like that. You can see people making 30-40 grand a month doing this, right? Check out Patreon. You've got a better deal there. A lot of creators are flocking to it. I recommend checking that out. They just raised I think, I don't know, 144 million, and they're valued at a billion now. I could be off there, but I do think they're valued at a billion.
Neil Patel: Have call to actions within your video. Sell products, sell services. You don't have to monetize just by using ads like AdSense or Patreon, or anything like that. It's funny, Eric and I was doing an event the other day. One of the people in the audience has a popular YouTube profile. They're all about skincare and acne. You know what? They do a few million a year in revenue. If it wasn't for their YouTube profile, they wouldn't be generating that kind of income. It was funny when Eric and I were talking to her, we were just like, "How many more videos have you been creating?" She was just like, "I haven't been doing it in a while. I started seven years ago, and I just slowed down on it." It's like, "Why would you slow down on it?" She's like, "I don't have that much time." Well, if that's what generated you most of your income, you should double down on it. You shouldn't slow down on it. It's super powerful if you're selling your own products or services.
Eric Siu: Yeah. The other thing, if you're looking to generate money from videos or getting a lot of views, you can always do product reviews. A lot of photographers do it, and a lot of creatives do that, right? They link to an affiliate link, let's say they're linking to Amazon. But yeah, it goes without saying. You can definitely talk about the things that you offer, maybe get people to download some kind of leadback, and then push them through a funnel, and then get them to buy that way. Think about that, right? Let's look at Neil's YouTube channel right now. You're getting what, 130,000 views a month right now?
Neil Patel: That's correct.
Eric Siu: Okay. He's getting 130,000 views. Maybe he's not monetizing right now. He probably isn't. But if we wants to later, if he wants to retarget those people, he can retarget all those views through YouTube advertising. That's how he can decide what kind of message he wants to drive them, what kind of funnel he wants to put them through, whether it's SEO, pay-per-click, whatever it is exactly. That's how you can get more creative with videos. Don't just think about, hey, how can I become a Vlogger, and then how can I get people to support me that way, through ad revenue. You need millions and millions and millions of views. Even then, if YouTube decides to ban you or they decide to make adjustments to their terms again, and screw your revenue share, then you are screwed. You're better off building your own empire.
Neil Patel: In general, with YouTube, it's a long term play of videos in general. You can use them for so many different things, and there's so many different ways to monetize. You just have to be creative. But you have to give it time. A lot of people are like, "I'm getting all these views. I expect to make money right away." It doesn't happen. If you look at Gary Vaynerchuk, he's extremely popular on YouTube. It's helped build his agency and his career. If you look at them now, they're doing over a hundred million a year in revenue. If it wasn't for all the social media videos that he's putting out there, he wouldn't have built up as big of a brand, and he wouldn't be generating as much income.
Eric Siu: Great. I think that's the high level around how you can make money with videos. There's so many examples out there. I encourage you to look at what makes sense for you. That's it for today from us. But before we go, we have a 90-day free trial of Crazy Egg to give away to each and every one of you. All you need to do is go to singlegrain.com/giveaway, to learn more. We will see tomorrow.
Speaker 1: This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics, to help you find the success you've always dreamed of. Don't forget to rate and review, so we can continue to bring you the best daily content possible. We'll see you in class tomorrow, right here on Marketing School.
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