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We all know the most common way to make money on YouTube is through AdSense. However, we are unaware that this is not the only or best way.
YouTube is half the internet, with 1.9 billion monthly users. However, every minute, 500 hours of video are uploaded to the site.
As a matter of fact, you already know that this article won’t be about how simple it is to buy a car using the advertising revenue from your YouTube views. (However, you could probably at least rent one if you have millions of video views.)
Here are seven ways to monetize your YouTube channel, each with step-by-step instructions.
How to earn money on YouTube
1: Sign up for the YouTube Partner Program.
Regular YouTubers gain access to special features on the site through the YouTube Partner Program.
To make money on YouTube, you don’t need to be a partner (simply setting up an AdSense account and gaining views will suffice), but becoming a partner makes things a lot easier.
YouTube Partners have access to a number of income streams, including not only video ads but also YouTube Premium subscription fees and features that directly tap your loyal fans’ wallets, like Super Chat, channel subscriptions, and the merchandise shelf.
Step 1: Launch a YouTube channel.
Follow these instructions to create a channel that only you can manage using your Google Account.
- Sign in to YouTube on a computer or mobile site.
- Click your profile picture and then Create a channel.
- You’ll be asked to create a channel.
- Check the details (with your Google Account name and photo) and confirm to create your channel.
Step 2: Ensure your channel is successful enough to qualify for the YouTube Partner Program.
You must have at least 1,000 subscribers and 4,000 watch hours within the last 12 months to be eligible to join the program.
Step 3: Create an AdSense account
This is easy. Follow the official YouTube guide for setting up AdSense accounts.
Step 4: Study your new monetization options.
Different criteria apply to different monetization channels. For example:
- Ad revenue: In order to earn ad revenue, you must be at least 18 years old and produce content that appeals to advertisers. In fact, the less restrictive your videos are, the more comfortable YouTube advertisers will be placing ads on them, and the more money you will make.
- Revenue from YouTube Premium: If a YouTube Premium subscriber views your video, you will receive a portion of their monthly fee.
- Channel memberships: You must be at least 18 years old and have more than 30,000 subscribers in order to sell channel memberships to your subscribers (i.e., have your fans agree to pay you an additional fee).
- Merchandise shelf: You must be at least 18 years old and have at least 10,000 subscribers in order to sell products from YouTube’s merchandise shelf.
- Super Chat payments: You must be at least 18 years old if you want your fans to be able to pay to have their messages highlighted in your live chats during your live streams (and live in a country where the feature is offered).
Step 5. Submit performance reviews:
According to YouTube, as a YouTube Partner, your channel
will be held to a higher standard. You must adhere to not only the YouTube Partner Program policies, but also the Community Guidelines. not to mention staying within the limits of copyright law.
2. Sell your own goods.
Perhaps you consider yourself a content creator first and an entrepreneur second.
Alternatively, you may be 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 both cases, selling goods on YouTube is a practical way to make money.
Step 1. Develop your idea into a product.
Your channel’s merchandise should both represent and feed your audience’s connection with you. That means your merchandise should be one-of-a-kind.
Tip: You may have more merchandise ideas than you can possibly stock. So start small, with one or two items. However, make certain that you involve your audience in the decision-making process. What do they want? Alternatively, generate buzz by offering one-time products tied to significant subscriber count milestones.
Step 2. Purchase or make your product.
To make and deliver your product, you’ll typically need a manufacturer, supplier, or wholesaler. Some suppliers will deliver it to you, while others will handle inventory management, shipping, and returns for you to save you the hassle.
Step 3. Make your landing page and online store.
A separate website is required to manage purchases. Refer to YouTube’s list of approved merchandise sites if you want to link to it directly from your videos, which you should.
Step 4: Make your YouTube Partner store operational.
The shelf feature can be used by YouTube Partners to sell products associated with their channels. Follow YouTube’s instructions to enable it if you’re qualified.
Step 5: Use your videos to promote your product.
This is where your charisma comes into play. Wear or feature your products in your videos. Showcase viewers who have purchased and are using it. On another platform, we might refer to this as “user-generated content.”
Don’t forget to include a link to your store in your video descriptions, as well as end screens and cards with convincing calls to action.
Tip: Don’t forget to say thank you. because it’s polite. But it’s also an excuse to remind consumers how awesome and famous your product is one more time.
3. Produce sponsored content
An influencer does not have to be on Instagram. The #sponcon strategy has the advantage of not requiring you to give YouTube a share of your profits. You do the negotiations with the companies directly and get paid directly. It’s no surprise that it’s a successful way for YouTubers to make money.
If you can provide brands with a big and/or active audience and your content is salient to their target market, they will probably be interested in hearing from you.
Step 1: Find a company to collaborate with.
When it comes to the brands you work with, quality matters. You probably already have shortlisted your ideal brands. Whether you’re aiming for the stars or building yourself up from the ground up, make sure you perfect your brand pitch before sending it.
Consider registering with an influencer marketing platform as well. These are middleman websites that assist marketing teams in locating suitable influencers with whom to partner.
Step 2: Reach an agreement
YouTube videos are, in fact, the most costly form of sponsored content brands can purchase from influencers. Simply put, YouTube influencers can ask more for their videos than they can for Instagram Stories or Facebook posts because the video is more expensive to produce.
While your rate will differ depending on the size of your audience, engagement, and relation to your potential partner, know your value before you sign a contract.
Step 3: Be open and honest about your #sponsored #ad.
Advertisement is what sponsored content is. That means you must fully comply with Google’s Ad policies. If you are American or British, you should be aware of the FTC (United States) and ASA (United Kingdom) guidelines.
Transparency is beneficial to both your legal safety and your association with your audience. YouTube has a visible disclaimer feature that can help you in ensuring that your viewer is aware that you are advertising to them.
4. Enroll as an affiliate partner.
If your YouTube viewer is loyal and committed but isn’t quite enough in terms of numbers, look for companies that invest in affiliate marketing.
YouTubers who are affiliated with companies urge their viewers to visit the brand’s online store or specific product web pages. They are then paid a percentage of sales generated by their affiliate links.
Affiliate partnerships are similar to sponsored content deals in terms of setup and logistics, so start with tip #3.
5. Have your fans pay you directly.
This YouTube money-making strategy includes several different forms of income, but they all have one thing in common: you must make it simple for your fans to show their gratitude with their credit card.
Step 1: Organize live chats where participants can use Super Chat.
YouTube’s previous Fan Funding feature was replaced with Super Chat in early 2017. This is a feature available only to YouTube Partners while they live stream.
Mainly, your audiences 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: Urge 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 emojis, badges, and access to members-only benefits such as Live Chats with you.
You’ll need to create a promotion strategy to persuade people to join, which may or may not include multiple tiers of membership. This feature, like Super Chat, is only available to YouTube Partners.
Step 3: Urge your fans to upgrade to YouTube Premium.
This is the last step in our strategy because it only benefits your channel indirectly. However, when YouTube Premium subscribers watch your channel, you receive a portion of their subscription fee. And also of every other channel, they watch.
6. Make use of crowdfunding
It is now common practice to ask for donations online. Crowdfunding is how many YouTubers make money, whether it’s to generate consistent revenue from a pool of small monthly donations or to fund a personal, channel-related project.
Step 1: Create a crowdfunding account.
YouTube provides a list of recognized crowdfunding sites from which to choose.
Patreon is an excellent option for continuous funding. However, sites like GoFundMe or Kickstarter are excellent for one-time campaigns to get a new phone or something.
Step 2: Use your videos to promote your campaign.
Give specifics about your objectives so that people will understand exactly what to expect from you when you succeed.
Additionally, provide appealing benefits that grow as your supporters select their level of donation.
7. Make your content available to the media.
Every news company wants to collect a copy of a popular video so they can play it for their audience. Luckily, reputable media organizations are aware that they must pay for the resources they consume. And there you have it — an additional way to monetize your YouTube channel.
Making sure you are easy to find can help you as a content creator license your most popular work to the media.
Step 1: Update your contact information on your About page.
Lightning can strike at any moment. If you don’t have a business manager, create a general email address that you can use for daily communication.
Step 2: Register with a marketplace for video rights.
An excellent place to start is Jukin Media. Media sources frequently require the latest video to boost their reporting, even if you don’t have a popular video like the others.
How much money can you make on YouTube?
The sky is the limit, but it takes a lot of time, continuous effort, and good fortune to reach the 7-digit range.
AdSense is the main source of income for YouTube. Simply put, YouTubers are paid for each time an ad is viewed on their channel. However, rates differ across regions, populations, and even industries (Mobile ads may have a higher CPM than, for example, shoe ads).
YouTubers typically earn between $3 and $5 for every 1,000 video views thanks to AdSense. This can add up to a nice paycheck if a lot of people are watching your channel. Big creators generally receive over $200,000 in monthly payouts from AdSense alone.
However, keep in mind that YouTube fame depends on many factors, some (or most) of which are outside of your control — the YouTube algorithm can change, as can your audience’s tastes and needs. This is true even if your channel is trending and AdSense revenue is filling up your bank account.
That’s it, best of luck with your journey, and do share this with others if you liked it.