The best way to make money on YouTube is all of them.YouTube accounts for fifty percent of the internet, with almost two billion monthly users. In the same time, 500 hours of video have been uploaded to the site every minute. So you already know that this article will not be about how easy it is to buy a Swiss watch with ad revenue from your YouTube views. However, if you have millions of video views, you could probably rent one. Don’t do it.)
How to Make Money on YouTube
Join the YouTube Partner Program.
The YouTube Partner Program allows regular YouTubers to gain access to special features on the platform.
To make money on YouTube, you don’t have to be a partner (just setting up an AdSense account and getting views will suffice), but being a partner makes things a lot easier.
Read Also: 9 YouTube SEO Tips and Techniques (2024)
YouTube Partners have access to multiple revenue streams, including not only video ads but also YouTube Premium subscription fees and features that directly tap your loyal fans’ wallets, such as Super Conversations, channel memberships, and your product shelf (more on these later).
Step 1: Create a YouTube channel.
Don’t worry, we’ve got you covered. It’s called ‘How to Create a YouTube Channel.’
Step 2: Make your channel successful enough to meet the requirements of the YouTube Partner Program.
To participate in the program, you must have at least 1,000 subscribers and 4,000 watch hours in the previous 12 months.
Step 3: Create an AdSense account.
This is straightforward. Simply follow YouTube’s official AdSense account setup guide.
Step 4: Investigate your new monetization options.
The eligibility requirements for each monetization channel vary. As an example:
Ad revenue: To earn ad revenue, you must be at least 18 years old and create content that is appealing to advertisers. Basically, the less controversial your videos are, the more comfortable YouTube advertisers will be running ads on them, and the more money you will make.
Revenue from YouTube Premium: If a YouTube Premium member watches your video, you will receive a portion of their subscription fee. (This one is automated, which is convenient.)
Channel memberships: You must be at least 18 years old and have over 30,000 subscribers to sell channel memberships to your subscribers (i.e., your fans opt in to pay you an additional fee).
Merchandise shelf: You must be at least 18 years old and have at least 10,000 subscribers to sell merchandise from YouTube’s merchandise shelf.
Super Chat payments: You must be at least 18 years old (and live in a country where the feature is available) if you want your fans to be prepared to pay to have their messages highlighted in your live chats over your live streams.
Click Here: Get Monetization
Step 5: Submit to ongoing reviews
According to YouTube, your channel will be held to a higher standard as a YouTube partner. You must abide by not only the YouTube Partner Program rules but also the Community Guidelines. Not to mention keeping on the right side of copyright law.
Make and sell your own merchandise
Perhaps you identify as a content creator first and an entrepreneur second. (Remember, Drake sells t-shirts.)
Alternatively, you’re an entrepreneur first and a video creator second, which means you already have a product and are developing a YouTube marketing strategy to sell it.
In any case, merchandise is a viable way to make money on social media, particularly on YouTube.
Step 1: Visualize and design your product.
Merchandise for your channel should both represent and feed your audience’s connection with you. That means your merchandise should be distinctive.
Pro tip: You may have more merchandise ideas than you can possibly stock. Begin by wading into the water with one or two items. However, make certain that your audience is involved in the decision-making process. Ask them what they want. Alternatively, create buzz by offering one-time products tied to significant subscriber-count milestones.
Step 2: Find and/or create your product.
In most instances, you will require the services of a manufacturer, supplier, or wholesaler to create and deliver your product. Some suppliers will deliver it to you, while others will take care of inventory, shipping, and returns for you.
Step 3: Design your store and landing page.
To process purchases, you’ll need a separate website. If you want to link to it directly from your videos (which you should), consult YouTube’s list of authorized merchandise sites.
Step 4: Make your YouTube partner products available.
YouTube partners can also use the shelf to sell products from their channel. Follow YouTube’s instructions to enable it if you are eligible.
Step 5: Make use of your videos to market your product.
This is where your charisma comes into play. Wear or incorporate your merchandise into your videos. Display viewers who have purchased and are using the product. On another platform, this could be referred to as “user-generated content” or “solid gold.”
Don’t forget to include a link to your store in your video descriptions, as well as end screens and cards with compelling calls to action.
Don’t forget to express your gratitude. Because it’s courteous. But it’s also an excuse to remind people how great and popular your product is yet again.
Develop sponsored content
An influencer is not required to be on Instagram. The spontoon strategy has the advantage of not requiring you to give YouTube a cut of your earnings. You develop with the brand directly, and they pay you directly. It should come as no surprise that it is a popular way for YouTubers to earn money.
If you can provide brands with a large and/or engaged audience and your content is relevant to their target market, they are likely to be interested in hearing from you.
For example, YouTuber Aaron Marino, a.k.a. Alpha M, is well-known in the men’s lifestyle community. How big is it? So big that he has brand partners in his videos explaining his brand partnerships.
Step 1: Locate a brand with which to collaborate.
When it comes to the names you work with, quality is important. You probably currently have a wish list of ideal brands. Whether you’re aiming for the stars or building your brand from the ground up, make sure you perfect your brand pitch before sending it.
Consider joining an influencer marketing platform as well. These are intermediary websites that assist marketing teams in locating relevant influencers to work with. Fame Bit, for example, was among the first to focus on YouTubers.
Step 2: Reach an agreement
According to a recent study conducted by influencer marketing platform Klear, YouTube videos are the most expensive type of sponsored content that brands can purchase from influencers. Simply put, YouTube influencers can charge more for their videos than they can for their Instagram Stories or Facebook posts because video is more expensive to produce.
While your rate will vary depending on the size of your audience, engagement, and relevance to your potential partner, know your worth before signing a contract.
Step 3: Be open about your #sponsored #ad.
Sponsored content is advertising. That means you must follow Google’s ad policies. If you’re American or British, you should be aware of the FTC (United States) and ASA (United Kingdom) guidelines.
Transparency is beneficial not only to your legal health but also to your relationship with your audience. YouTube has a visible disclosure feature to help you ensure that your audience is aware that you are advertising to them.
Become a partner affiliate
Look for companies that invest in affiliate marketing if your YouTube audience is loyal and engaged but not quite there in terms of headcount.
Businesses’ YouTubers encourage their viewers to visit the brand’s online store or specific product pages. They are then compensated a percentage of sales generated by their—you guessed it—affiliated links.
Affiliate partnerships are similar to sponsored content deals in terms of setup and logistics, so start with tip #3.
Have your fans pay you directly.
This YouTube money-making strategy includes several different income streams, but they all have one thing in common: you must make it simple for your fans to show their appreciation with their credit card.
Step 1: Organize live chats in which people can use Super Chat.
YouTube’s before-fan funding was replaced with Super Chat in early 2017. This is a feature accessible only to YouTube Partners while they live stream.
Essentially, your viewers can make their comments more visible in the live chat stream by paying to have them highlighted and pinned for a set amount of time.
Step 2: Remind your fans to join your channel.
YouTube allows you to charge your viewers to become members of your channel. In exchange, they will receive custom emoji, badges, and access to members-only benefits such as Live Chats with you.
Wintergatan, for example, is a Swedish band that also creates elaborate marble machines and posts videos about them on their YouTube channel. In their videos, they frequently thank their channel members. They also state clearly what the money from memberships is used for:
You’ll need to devise a promotion strategy to persuade people to join, which may or may not include multiple tiers of membership. This feature, like Super Chat, is accessible to YouTube Partners.
Step 3: Remind your fans to upgrade to YouTube Premium.
This is the last step in our strategy because it only indirectly benefits your channel. However, when YouTube Premium members watch your channel, you receive a percentage of their subscription fee. (And every other channel they watch does as well.)
Make use of crowdfunding
It is now common practice to solicit donations online. Crowdfunding is how many YouTubers make money, whether it’s to generate ongoing revenue from a pool of small monthly donations or to fund a personal, channel-related project.
1. Create a crowdfunding account.
YouTube has a list of approved crowdfunding sites from which to choose.
Patreon is a great option for recurring funding. Meanwhile, GoFundMe and Kickstarter are best for one-time campaigns to get a new microphone, laptop, or spleen.
Even well-known artists such as Walk Off the Earth and Veronica Mars (ok, she’s a fictional character) have used Patreon to fund their projects, whether they’re music videos or feature-length films.
Step 2: Set up your videos to promote your campaign.
Detail your specific goals so that people know what to expect when you succeed.
Also, provide enticing perks that stack as your fans decide how much to donate.
Step 1: Keep your contact information on your About page up-to-date.
Nobody knows when lightning will strike. Set up a generic email account for business inquiries even if you don’t have a business manager.
Step 2: Join a video rights marketplace.
Jukin Media is an excellent place to begin. Even if you don’t have a viral video like the Chewbacca mask lady (see below), news organizations frequently require timely footage to supplement their reporting.
For example, Juking has an entire catalog of ‘newsworthy’ videos to which you can contribute if you have exclusive footage of a major natural disaster, plane crash, or locust plague.
How much money can you make on YouTube?
Tragically, the answer to this age-old question is a vexing one: it depends.
Since 9-year-old YouTuber and multi-millionaire Ryan Kanji’s story demonstrates, the sky is the limit. However, breaking into the seven-digit range requires a significant amount of time, consistent effort, and good fortune.
YouTube’s revenue is heavily reliant on AdSense. Simply put, YouTubers are compensated for each ad view on their channel. However, rates vary by geography, demographics, and even industry (for example, software ads may have a higher CPM than clothing ads).
Google AdSense receives YouTubers between $3 and $5 per 1,000 video views on average. If your channel reaches a large number of people, this can add up to a tidy sum. It’s not uncommon for major creators to earn more than $200,000 per month from AdSense alone.
Even if your channel is trending and AdSense revenue is filling your bank account, keep in mind that YouTube fame is dependent on many factors, some (or most) of which are beyond your control—the YouTube algorithm, as well as your audience’s tastes and needs, can change.
Follow our 7 tips and branch out to ensure that the money you make on YouTube turns into a healthy and consistent income. Merch, branded deals, and crowdfunding can make you money even if your AdSense earnings decline for whatever reason.
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