You can set a price on your YouTube content based on factors like how big your audience is, how niche your content is and how much engagement you’re getting. Start by calculating how much money you will be spending on making your content, taking elements like transportation cost, time spent to make content, production crew, etc into consideration. Make sure that after you minus all these extra costs, you’re profiting and not going into debt.
To give you more clarity, here are a few pricing models that influencers commonly use to make the big bucks:
1. Barter system
Make videos for brands in exchange for freebies. If you’re reviewing a product, you can consider reaching out to the brand you’re reviewing and request them to send you the product for free. Or you can simply accept free goodie bags with related or unrelated products in exchange for your content. This model is a great gateway to gaining exposure and letting other brands know that you’re open for collaborations.
2. Affiliate links
You get paid for embedding exclusive links to a brand’s website or products in your videos, video descriptions and social media handles. This is a smart marketing strategy for brands to test the water and see how well your content can drive their sales. If the links resonate with your audience and drive conversions, you’ll get the opportunity to get paid more and score future brand deals.
3. Commission based pay
Brands may approach you to be their brand ambassador and offer special discount coupons for you and your audience. This is a no-risk strategy brands use to tap into a new audience set. If your audience makes a purchase using these special discount codes or links, you get a portion of every sale made. How much you earn depends on how well you can promote the brand and sell products through your content.
4. Flat rate
Charge brands a flat price based on how much it costs to produce a video. You can set a price by balancing out the production costs with the number of subscribers or views on your YouTube channel. For example, if your video costs $100 to produce, you can add an extra $20 for every 10k subscribers on your channel.
5. Cost per view
If you post videos consistently and your YouTube channel gets quite a bit of views, you can opt to get paid based on the number of views your video receives within a particular time frame.Check out how many views your videos are getting on a monthly basis, and make an estimate on how much money you can make based on your previous views. For example, you could receive 0.06 cents (USD) for every view up to 10,000 views and if your video goes above 10,000 you could receive 0.12 cents (USD) for additional views.
Whatever model you choose, remember to experiment with the pricing until you find a version that equally benefits you as well as the brand that’s paying you. Keep tweaking your pricing model and increasing your rates as you gain more brand deals. Before you know it, you’ll be well on your way to becoming the next rising entrepreneur.
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