I have to warn you – YouTube itself is a pretty competitive environment and starting a new channel is not easy. YouTube also has fairly high requirements for financial content and there may be problems if users start complaining about you or you talk about controversial issues.
However, creating a channel and growing your finance audience on YouTube is a feasible task even in 2024. Start with our guide and you will be many steps closer to your goal.
Stages of Creating a YouTube Channel on Financial Topics
#1 Finding Your Niche
If your goal is a financial YouTube channel in 2024, then the first and most important task is to choose the right niche. This could be a personal finance content creation or a more authoritative niche – banking financial management, investing, etc. If we are talking about financial literacy education on YouTube, your range of videos will be large, but the competition is also huge. If you choose a narrower topic, then you should understand it now, and not while creating the video. A sophisticated viewer can determine your professionalism from the first seconds and first words.
#2 Crafting a Compelling Welcome
A well-crafted welcome video serves as the front door to your channel. This introduction is akin to the initial impression on a resume—it must be engaging, concise, and reflective of your brand. Regularly revisiting and updating this video ensures that it accurately represents your evolving channel identity and encourages new viewers to subscribe.
#3 Mastering YouTube SEO
- Develop a list of seed keywords covering a broad spectrum of personal finance themes.
- Leverage tools like KeywordTool.io to identify specific, less competitive, long-tail keywords.
Optimizing Videos for SEO:
- Tailor video titles with relevant keywords to enhance search visibility.
- Craft titles with high click-through rates to encourage user engagement.
- Create SEO-friendly video descriptions that provide context and incorporate keywords.
- Enhance video tags using tools like VidIQ to refine targeting.
Advice! Be prepared for the fact that advertising revenue from your YouTube channel will be insignificant for a long time. Even with the right YouTube SEO for financial channels, you will not be able to live off the income from the channel for the next few years. Moreover, there is YouTube Adblock, which helps you watch any channel without advertising. For content creators, this is a potential risk, but for ease of viewing it is a big plus. But don’t worry, advertising is far from the only type of income you’ll receive. The only main thing is to prepare for the long-term development of the channel, without having any illusions about its immediate growth and large income.
#4 Utilizing Custom Thumbnails
Custom thumbnails play a pivotal role in enticing clicks and attracting viewers. Experiment with vibrant, contrasting thumbnails that maintain a consistent branded look. Platforms like TubeBuddy offer A/B testing functionality, allowing you to optimize your thumbnails for maximum impact.
#5 Maximizing Watch Time
YouTube’s algorithms favor videos with longer watch times. To optimize watch time:
- Minimize fluff and stick to the script for concise and focused content.
- Aim for longer videos (15-20 minutes) to thoroughly cover topics of interest.
- Avoid prolonged intros, ensuring viewers receive immediate value.
- Maintain an engaging presentation style by incorporating movement, changing screens, and asking questions.
#6 Elevating Your Editing Game
Effective video editing is a fundamental aspect of maintaining viewer interest. A well-edited video, coupled with appropriate lighting, background sounds, and backdrops, contributes to an aesthetically pleasing and professional presentation. Remember, a poorly edited video can harm your brand’s reputation and diminish your credibility as a content creator.
#7 Leveraging YouTube Analytics
Regularly analyzing video analytics provides crucial insights into your channel’s performance. Key metrics to monitor include:
- Real-time views: Assessing a video’s performance in real-time.
- Traffic source: Identifying the origin of views for strategic promotion.
- Demographics: Understanding the audience demographic to tailor content accordingly.
- Click-through rate (CTR): Evaluating video performance and making necessary improvements.
Creative Growth Strategies
One of the development strategies involves visual storytelling in financial videos to attract attention, the other involves interesting content. You can glean all this from competitors’ videos. To get inspiration and not have your thoughts crossed with your closest competitors, download a VPN and try to go beyond your home region. You may well find worthy bloggers abroad and draw inspiration from them.
Basic YouTube channel growth strategies:
- Interview Other Creators: Collaborating with influencers and creators in your niche can significantly expand your audience through cross-promotion.
- Face Reveal: While not mandatory for every video, occasional face reveals humanize your channel and foster a deeper connection with your audience.
- Subscription Reminders and Giveaways: Actively encourage subscriptions through reminders and engage your audience with giveaways, leveraging positive reinforcement.
- Expand Across Platforms: Utilize the full spectrum of social media platforms, including TikTok, Facebook, Instagram, Twitter, and email, to cross-promote your YouTube content and broaden your reach.
In conclusion, the journey to building a successful financial YouTube channel in 2024 demands a strategic and holistic approach. By understanding your audience, consistently delivering valuable content, and employing various creative strategies, you can foster long-term success. Remember, the growth of your platform is a journey that requires patience, dedication, and a profound understanding of your viewers’ needs. Armed with the tips provided in this guide, you are well-equipped to embark on the path of growing your financial YouTube channel.