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How Peter Mckinnon Built A Million Dollar Youtube Business
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How Peter Mckinnon Built A Million Dollar Youtube Business

Monetizing a YouTube Channel: Lessons from Peter McKinnon

In this video, the speaker discusses how to effectively monetize a YouTube channel while keeping the audience as the number one priority. The focus is on Peter McKinnon, who has built a million-dollar YouTube business by diversifying his income streams.

Building Multiple Streams of Income

  • Diversify your income streams around your YouTube channel.
  • Adsense is unpredictable and over-reliance on it can be detrimental.
  • Peter McKinnon's multiple streams of revenue include Adsense, video sponsorships, and affiliate links in video descriptions.

Video Sponsorships

  • Peter regularly works with brands he believes in and uses himself.
  • Each brand sponsorship could bring in over $10k or more.

Affiliate Links

  • Peter includes an endless list of gear he uses in his video description with affiliate links mainly to Amazon.
  • It's impossible to track the exact amount of money he makes through these links.

Creating Products for Your Audience

  • Create products that solve problems for your audience.
  • Examples include presets, courses, and merchandise.
  • These products should align with your brand and provide value to your audience.

Building a Team

  • As you grow, consider building a team to help manage different aspects of your business.
  • This can include editors, managers, and assistants.

Conclusion

  • Monetizing a YouTube channel requires a strong business mind and diversification of income streams.
  • It's important to prioritize creating content for your audience while also finding ways to monetize effectively.

Peter McKinnon's 5 Income Streams on YouTube

In this section, Peter McKinnon discusses his five main sources of income on YouTube and the importance of having multiple streams of income.

Multiple Income Streams

  • Peter has five main sources of income on YouTube: Adsense, brand deals, merchandise, digital products, and affiliate marketing.
  • It is important to have multiple streams of income to avoid relying solely on Adsense.
  • Make a list of ways you can monetize your audience and see how many income streams you can generate.

Positioning Within YouTube

  • Positioning within YouTube is important for both viewers and advertisers.
  • Peter transitioned from personal vlogs to in-depth tutorial videos to open up more business opportunities for himself.
  • Analyze your channel through the eyes of viewers and advertisers to see if there's a way you can position yourself better in your current niche.

Digital Products

  • Digital products are the most effective way to make money quickly on YouTube while providing value to your audience.
  • Unlimited replication makes digital products the most lucrative form of monetization for YouTubers.

Monetizing Your YouTube Channel: Lessons from Peter McKinnon

In this video, the speaker discusses how to monetize a YouTube channel using lessons learned from successful YouTuber Peter McKinnon. The speaker emphasizes the importance of respecting your audience and providing value in order to build a successful business.

The Lucrative Nature of Digital Products

  • Peter McKinnon's Autumn 2018 preset pack retailed for $30 USD.
  • If just 1% of his 500,000 regular viewers bought the pack, that would equal $150,000 USD in revenue before tax.
  • This is just one of five digital products that Peter sells.

Why Digital Products are a Great Way to Monetize Your Audience

  • Providing a good product for the price helps improve creative skills.
  • Having your own digital product should be an end goal for all YouTubers.
  • Building up an audience and expertise first is necessary.

Lessons on Respect and Integrity

  • Always respect your audience by practicing proper integrity towards them.
  • Proper integrity means not trying to milk your following for cash.
  • Viewers see through pushy or pressurizing sales tactics and will leave if they feel disrespected.

Lesson One: Fair Value Exchange

  • Make sure the value exchange is fair by providing high-quality videos that provide value for free.
  • When you do monetize, your audience will be more open to it.

Lesson Two: Sell with Transparency

  • Sell with transparency by never being pushy or pressuring viewers into buying something.
  • Suggest free alternatives to what you're selling when possible.
  • Only work with brands you actually use and believe in.

Lesson Three: Never Oversell

  • Never oversell by only accepting offers that align with your values and content goals.
  • Don't turn every video into a sponsored sales pitch.
  • Put your content first and viewers will appreciate it.

Conclusion

  • Peter McKinnon has used these lessons to turn his YouTube channel into a million-dollar business.
  • Respecting your audience and providing value is key to monetizing successfully on YouTube.
Video description

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. - Free trial with Epidemic Sound (you won't regret trying it!): http://share.epidemicsound.com/BjLPV - Install TubeBuddy (Tool I use to beat the Youtube Algorithm, free but I recommend upgrading): https://www.tubebuddy.com/paddygalloway Google Plus: https://plus.google.com/u/0/106264745922042638061 Podcast referenced (really good listen!): https://www.youtube.com/user/creativespacesTV/ 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 Disclaimer: Some of the above links are affiliate links. I may receive a small commission from referring at no additional cost to you.