Ever wonder how the big YouTubers make so much money? In this video I will show you the methods Peter Mckinnon uses to monetize his audience so effectively.
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It’s been over 2 years since I made my first video on Peter McKinnon where I analysed the techniques he was using to grow his first 1 million subscribers. In that time a lot has changed in the world, but Peter McKinnon is still growing on YouTube, he’s just bout to hit 4 million subscribers to be exact.
The point of that video was to show how peter is to building his YouTube audience and the spotlight today is on how he monetizes that audience it in a lucrative but honest fashion.
Before anyone accuses me of calling peter a sell-out. That is simply not the case here. Peter puts his audience and content first and it’s clear he loves what he does.
However, I think we need to change our perception of YouTube as purely a passion project for creators. Yes you need to love the act of creating videos for your fans, it’s very clear when someone doesn’t and just does it for financial gain. If someone is willing to sacrifice hours upon hours filming, editing videos and growing a youtube channel, I think it’s only fair this hard work is rewarded. And it’s not like youtuber’s are given a monthly pay check from google, to make a career on this platform you need to have a strong business mind. There are multiple ways youtubers can turn their passion into a high earning career without being a money grabber exploiting their audience.
1. Build multiple Income Streams – One Key thing that all business savvy YouTubers do is to build multiple sources of revenue. Adsense is somewhat unreliable and by diversifying your income on YouTube you protect yourself and maximize your earning potential. Peter has 5 main streams of income.
2. The Power Of Positioning – On YouTube it is so important to identify the niche you are occupying. You need to see this from both the viewers perspective and the advertisers perspective. Peter Mckinnon did this very early on.
3. The Digital Product is King – In my opinion the end goal for all youtuber’s should be to release a digital product. Why? Because of unlimited replication! Peter currently has 5 digital products on sale such as his Luts pack. This can be a really good source of income.
4. Respect Your Audience – This point may be the most important of the bunch. Having good business ideas is useless if you don’t respect your audience. Don’t forget they are the people who make it all a reality in the first place. Peter Mckinnon shows a lot of transparency and integrity when it comes to selling to his subscribers.
My name is Paddy Galloway and I hope you enjoyed this video! @paddygalloway @paddyg96
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