January 28, 2021

How to Make Money on YouTube

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“Hi guys, welcome to my YouTube channel!’

These seven words have become increasingly common over the last three to four years.

Why? Because not only is YouTube the second most popular social media network after Facebook, it has come to be a lucrative source of income for content creators. You can check out how to make money on Facebook.

Founded just 15 years ago, YouTube has over 1.9 billion active monthly users. According to a 2018 statistic by digital agency Omnicore, over five billion videos are watched on YouTube daily…DAILY!

Whether they are comedy skits, short films, reviews or tutorial videos, people love to engage and interact with quality content. Now more than ever, content creators in Nigeria can leverage the platform as a lucrative source of income.

However, YouTube is not exactly a lottery ticket. Monetizing your channel requires lots of hard work and consistency, even from the most popular Nigerian content creators on YouTube like Miss Techie, Fisayo Fosudo and Sisi Yemmie, to name a few. They all had to create engaging content consistently over the years to earn the way they do now.

This article shares a few tips and strategies on how to make money on YouTube in Nigeria.

Create and Upload Content
The first step to making money on YouTube is creating and uploading fun and engaging content on your channel. It can range from educational to funny and even downright silly! There’s no limit to what you can create. As long as it’s relevant to the people you want to connect with and engaging, you are bound to have an audience no matter how small.

It is also crucial to upload your content regularly. People have extremely short attention spans, so do not give them a reason to forget about your channel. Consistency is the name of the game.

Monetize Your Channel
After you have done this consistently, you can then apply to monetize your channel through the Google Platform, AdSense. A fun fact to know is that it is Google AdSense pays you for your content, not YouTube. To be eligible to monetize your channel, it must have at least 1,000 subscribers and at least 4,000 hours of watch time. By doing so, brands can now auction for ad space on your channel for a fee.

YouTube is increasingly becoming a very lucrative business in Nigeria if you are consistently dishing out great content.

Get Into Affiliate Marketing
You can also make money on YouTube through affiliate marketing. It involves advertising products or services on your channel. You then get a commission based on the number of sales you bring in. You can start by reviewing products or creating tutorial ‘how-to’ videos for them and including your affiliate link in the description. How many people click on your link to make a purchase is what determines how much you get paid.
Source for Brand Sponsorships
A lot of brands provide sponsorship to popular YouTube channels as another means of advertisement. You do not have to wait for brands to come to you. Research on which brands are relevant to you and your audience, and send out proposals offering real value. If you’re lucky, some of these brands may reach out to you and thus begins your money-making career on YouTube.
Become an Influencer
If you make content that has a niche audience, i.e. Tech, Cooking, Video games, etc., then you can become an influencer in that space. Of course, you need to grow your following first, but with as little as 1,000 subscribers, you can pitch small businesses to feature their products on your channel.

These are a few ways you can make money on YouTube, even if you’re a student. There are other strategies you can employ, but the most important thing is that your content is fresh, exciting and engaging.

So what are you waiting for? Go ahead and start creating! Good luck!

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