How to make money online with YouTube: a comprehensive guide

Summary: Are you interested in setting up a new residual income stream? While striking it rich with YouTube is very unlikely, it's extremely feasible to make an extra $50-$100 every month or two. Here's how I do just that!

Looking to make a little money on the Internet? Why not give YouTube a try? You don't have to strike it lucky or go viral to earn money with YouTube, but if you do happen to fall into such luck, there's quite a hefty pot of money to earn from. This is all thanks to companies who pay to advertise through YouTube (which is owned by Google, for those of you who were unaware).
In this post, I'm going to give you ideas for making videos that can earn you some real cash on YouTube, as well as give you some pro tips regarding the best practices for making the most of the videos you upload. Whether you're just an individual looking to make a bit of money on the side, or a business looking to monetize promotional videos, there's something for everyone in this post. Don't expect to break the bank -- I'm not promising riches and wealth beyond your wildest dreams -- but if you're looking for a legitimate way to actually make money online, this could be the article you've been waiting for!

Some stats from yours truly

First, let's start with some stats from a few of my videos. I want to show you that while I'm not making money hand-over-fist, I'm certainly making enough to put a smile on my face. Now, don't be too hasty to draw conclusions from these figures, because there are a number of factors to take into consideration with how videos earn and perform. I'll cover those factors in the next section, but for the moment, here are two of my better-performing videos, which, for what they are, is pretty astounding that I'm even earning anything! I'm not naming the specific videos, because I'm not quite sure at the moment if that would violate Google's ToS. Either way, here are the stats:

As you can see up front, there is no blanket statement for saying "X amount of traffic guarantees X amount of dollars." It just doesn't work like that, unfortunately. To further prove the point, here's some stats from a video of mine that has fairly terrible ad revenue performance:

Rough, right? Depending on who you ask, that $0.50 might be the first thing someone has ever earned online, and that's truly something to be excited about; however, judging by the numbers themselves, those earnings are pitiful. Regardless, I just wanted to give you a feel for how widely performance can vary, but the potential to really earn money is certainly there. Up next, I'll dig into why performance varies so much and what you can do to put the odds of better performance in your favor. Later, I'll go into exactly what you need to do to get set up to start making money with YouTube.