In the past decade, Youtube has gained a lot of visibility in terms of people taking it as a brilliant income source. It has lately become a magnificent medium of marketing for brands. It has also been an absolute place for individuals and groups to showcase their talents to the world. The real question that comes to mind is "Has it reached saturation ? Or is there still a scope for us to start a Youtube channel and make millions ? To understand that, we have come up with a detailed article on what it takes to have a successful Youtube channel.
Difference between a traditional business and Youtube
Investment: Traditional business requires huge investment whereas Youtube business can be started with zero investment.
Timing: Traditional business needs to operate in a dedicated time slot whereas Youtube can be done 24X7.
Available market: Traditional business is limited to a particular geography, whereas in Youtube, the world is your market.
Competition: Traditional business has limited competition within the area of operation whereas in Youtube, there is huge competition as it is online.
Yet there is one commonality between the two, i.e. Patience and Consistency. Whatever the nature of business be, if you wish to stay successful, you need to be patient and stay consistent.
Why people quit Youtube ?
Since Youtube is free, it is always done with a mindset to try and see if it works. With that mindset, it becomes difficult for the individual to give his best. To prove this point, the best example is to observe an individual toiling hard the entire year for a salary hike and continuing with the job even when his aspirations are not fulfilled.
They do not observe. This is something most people miss. They keep repeating the same mistakes again and again in spite of not getting results. Instead, a simple analysis of why things are not working can help filling the gaps.
They forget about quality and focus on returns. This is a common problem where people lose focus of the core point, i.e. quality content. And this leads to their downfall.
They stop putting that extra effort. In order to maintain your speed, a continuous effort is required. But in order to stay ahead of the race, an extra effort is always needed. This is missed by many which leads to an adverse impact on stats.
Requirements to become a good Youtuber
1. Quality content - The only thing that matters in Youtube business. By quality, we do not mean video resolution (1080p, 720p). Rather, content's quality and originality is what matters the most. To start creating content, we need to do the following steps:
> Identify your niche and start exploring deep into the same.
> Don't look at what others are doing and start copying. Rather get inspired from other creators and learn to be your best self.
>Always remember, consistency is the key.
2. Gears - For a beginner, basic equipments required are Camera, Tripod and mic. A video editing software is also a much needed tool. The most recommended softwares are Adobe Premier Pro and iMovie. And there are free applications on google playstore which can help you edit your videos quite professionally.
3. Packaging - Even if the gift is top notch, it wouldn't be opened if the wrapping is shabby. Therefore, package is equally important as the content. For that, 3 things that are to be taken care of are thumbnails, title and description. Thumbnail and TItle are the first touchpoint of any Youtube video that compels users to click on it. Once done, description is the next point where users get details about the contents of the video.
4. Marketing - The next important aspect of any product is marketing. Unless and until that is done, customers will never be able to know the value it offers. In this case, the product we are working with is our videos. To market them, there are few simple yet effective techniques. Sharing, Collaborating, Putting a call to action
5. Youtube Algorithm - Decides if your video is supposed to be on the top of search results.
Income sources over Youtube
Ad revenue (Requirement: 1000 subscribers, 4000 watch hours)
Sale of Merchandise (Requirement: 10000 subscribers)
Contributions from Subscribers
Paid promotions from brands
Verdict
Youtube is undoubtedly one of the best source of revenue, only if your focus is to give quality content to the your subscribers. For that, you need to have a Youtube marketing strategy. Contact us for more details.
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