According to data, YouTube has been a dominant platform for years, and there are no signs that this trend will change. Approximately $19.7 billion in revenue was made by YouTube in 2020 alone, with more than 2 billion monthly users.
The global community of content producers and company owners has benefited greatly from this social media behemoth.
On the surface, it might appear that the most straightforward approach to monetizing YouTube is through advertising. It's also not the only option to make money, even though it is a possibility.
So if you're considering using YouTube as a source of income or if you already use the platform but aren't sure how to monetize it, stay tuned because I'm about to share some innovative methods you may make money from YouTube.
Ready? Take off!
Warning: This article contains affiliate links that could result in a tiny commission for me at no additional cost to you (but will still buy me a cup of coffee). My affiliate policy has further information regarding the affiliate disclosure.
How to Make Money on YouTube
Nowadays, you don't have to be the next Spielberg or a well-known influencer to start a fantastic YouTube channel, which is a terrific thing. You must identify your mission if you want to make the most of your channel.
Are you merely engaging in it for fun? Maybe you want to impart some knowledge? Whatever your motivations are for establishing a profession online, you must be dependable and give your audience a lot of value.
1. Become a YouTube Partner.
The majority of people begin their YouTube money-making career in this manner.
By submitting an application to join YouTube's partner program, you gain access to additional revenue streams for your channel aside from just video adverts.
Here are the prerequisites to join the YouTube Partner Program:
- Head over to the account icon in the top right corner, then click on YouTube studio. Then go to Other Features -> Monetization.
- Follow YouTube’s monetization policies.
- Live in a country where the program is available.
- Have a clean account with no community strikes.
- Have more than 4,000 public hours been watched in the last 12 months?
- Have more than 1,000 subscribers.
- Have a Google Adsense account linked to YouTube.
After receiving approval, you can begin using more YouTube premium services, such as channel memberships, super chat, and YouTube premium revenue.
You can still earn money from ads even if you don't fully meet the criteria for the YouTube Partner Program at this time. Just be sure to connect your Google Adsense account to ensure payment.
This is, of course, the most passive way to earn money online, and for the majority of content producers, it's really simply the cherry on top. You can use social media marketing techniques to spread the word to further reduce your involvement.
2. Compliment Your YouTube Channel.
Why not double down and create a second channel that uses the second-largest search engine to harness the traffic you can get from your blog and partnerships with the biggest search engines in the world?
Compared to a YouTube channel, blogging enables you to interact with your audience on a more personal level. You can accomplish this using forums, members-only areas, and email lists.
You can drive visitors from YouTube to your blog and vice versa, is the concept here. Through a variety of touchpoints, it increases brand awareness and helps your audience engage with you.
Make sure to include a mention of it in the video itself as well as a call to action to "check out the description below" the video, where you'll include a link to your website.
Finally, despite what many people think, the content you submit to YouTube does not belong to you.
Imagine discovering one day that YouTube has ceased to exist or that your entire channel has been removed from the site.
I suppose you would freak out right away. If you did have a backup plan, such as a blog, then you have already made arrangements for income to continue while you figure out what went wrong and resume making wonderful videos.
3. Sell Your Personal or Brand’s Merchandise.
You can potentially reach millions of visitors worldwide with YouTube. If you enjoy vlogging, you can concentrate on elevating YouTube to the top of your list of marketing platforms.
Aim high and take the chance.
This is not only a means to make money, but it also helps you connect with your audience, whether you intend to sell hoodies, mugs, or whatever merchandise you have in mind. You should take this chance to diversify your social media marketing efforts and keep in mind that even Drake sells t-shirts.
Create a poll to find out what goods your followers would truly like before you start manufacturing them. It would be a complete shame if no one purchased your new line of t-shirts. You would now have an excess of t-shirts that no one would buy.
If everything works smoothly, you can connect a Shopify store or your website to take orders on a wider scale.
Even though generating videos alone can be more lucrative than selling anything, you can kickstart everything by promoting it on your YouTube channel.
Your merchandise should be of the same caliber as your YouTube videos. Produce goods that can help your brand's reputation. Never let your YouTube channel suffer because of your merch.
Consider it a prize for those that subscribe to your channel and watch your videos while also making money. That is a situation where everyone benefits.
Notable YouTubers Selling Merch:
- PewDiePie sells t-shirts, hoodies, and other items.
- DudePerfect sells hats, hoodies, bottoms, jackets, and accessories.
- Ryan Kaji of ‘Ryan’s World’ sells toys and other items.
4. Take Advantage of Affiliate Marketing.
Your best chance to generate money on YouTube may not always be through video advertising revenue. In order to acquire that much-needed money boost, you must be inventive and combine various choices.
Upping the ante is affiliate marketing. This may be a common social media marketing tactic, but if used correctly, it has several advantages.
Being an affiliate marketing enables you to make a percentage of the sales from the item you have highlighted or advertised without requiring the client to spend more than they would if they went straight to the business.
Marketing firms don't rely on their own channels to market or distribute their goods. Instead, they believe it is more advantageous to pay established YouTube channel owners to promote their videos.
One of the finest methods to make money, especially if your channel has a loyal following, is undoubtedly affiliate marketing.
However, even if you have a lesser audience, this can still be a successful means of earning money. Simply develop a strong marketing plan to target a particular demographic.
Join various businesses that provide affiliate programs in order to profit from this tactic. Make sure they provide products that are directly relevant to the focus of your channel. Choose products that are most beneficial to your audience.
Always remember to place the product affiliate link in the description area of the video. If the product you are promoting has a high conversion rate along with a high commission, that would be the ideal result.
Just remember that disclosure is necessary if you want to make money through affiliate marketing on YouTube. All you have to do is acknowledge that you have a clear affiliate relationship with the company that makes the product and that you will get paid if they click the link.
5. Use Live Streaming.
Using live streaming to make money on YouTube is a viable option. By turning on adverts and using the Super Chat feature in your YouTube Partner account, you can make money.
Live-streaming sessions are a more inventive method to gain a following, though. People adore this feature because it allows them to feel as though they are experiencing events in "real-time."
Selling goods or affiliate products can enhance your money stream, as we've seen above. However, for a little extra spice, try marketing deals as your live audience watches your stream.
You may interact with your audience more directly in this way and feel more connected to them. The key is to interact with them. As they come inside the room, welcome them. Depending on how much they spend, users can pay for a certain period of time to have their stickers pinned to the chat.
Offering something exclusive would be the finest method to captivate your audience. Tell them how watching you live will give them an advantage over people who don't follow your stream.
For instance, everyone who subscribes to your channel can make a donation and join an exclusive group by paying a monthly fee. They will receive personalized emojis and badges they may use while you are live streaming in exchange for access to members-only content or both.
With a unique code, you can also choose to incorporate momentary promotions or various kinds of discounted prices. This tactic can assist your viewers to become engrossed and eager for the next live streaming.
Marketing automation software can handle all of those selling activities to assist with scheduling so you can concentrate on producing the greatest content.
6. Don’t Neglect YouTube SEO.
Many online video producers do not think that YouTube search engine optimization is important when it comes to monetizing their YouTube channel.
On the surface, YouTube might seem like a website where you can watch videos for hours on end.
You should treat your YouTube videos the same way if you wanted to rank on page one of Google since Google controls YouTube. In other words, take into account a user's search intent before making sure your target term is present in the title, video descriptions, and tags.
In order to rank your YouTube videos, you should still follow the traditional SEO best practices. Gain links to your high-quality content first, then develop it.
One thing to keep in mind is that your long-term strategy should include this. Finding other YouTube channels to collaborate with and generate videos for will help you experience an increase in your own channel more rapidly. SEO takes time.
This prompts me to...
7. Become a YouTube Influencer.
Intriguing partnerships to monetize your YouTube channel can result from even one popular video that goes viral and circulates online.
Even if you only have 1,000 followers, you can still take advantage of sponsorship opportunities. Influencer fees start at $20 for each video and can reach more than $20,000 per post. Some companies even charge per 1,000 views.
Even now, media companies look for videos to utilize on their own networks. To make this happen, though, be sure to give them a legitimate business email to contact you on the back end of your YouTube account.
Once a bargain is reached, it's polite to let your audience know that they are being advertised. In reality, Google's Ad Policies and the FTC in the US have rules that will keep you legally secure.
How to Make Money on YouTube FAQ
How Many Views do You Need to Make Money on YouTube?
There is no clear answer to this because it depends on the niche, the caliber of the content, and many other variables.
However, in general, in order to start making money from advertising, you'll need at least a few thousand views for every video. And you'll probably need to generate millions of views each month if you want to make life just from YouTube.
Can a Beginner Make Money on YouTube?
Yes, even a newbie can succeed financially.
There are several considerations you should make, though:
Gaining a following and generating a steady income from YouTube ads requires time and work.
Making content that viewers want to watch and that draws advertisers is the greatest method to monetize your YouTube channel.
To ensure that your films are seen by as many people as possible, it is crucial to invest in high-quality video production and marketing strategies.
There are numerous methods for making money, so it's crucial to consider them all and choose the one that suits you the most.
Who is the Highest Paid YouTuber?
Ryan Kaji is the highest-paid YouTuber, with estimated yearly revenues of $29.5 million, according to the most recent Statista figures (2020). Jimmy Donaldson's Mr. Beast ($24 million), Dude Perfect ($23 million), and Mark Fischbach ($19.5 million) are some of the other top earners.
This list is interesting because it consists primarily of comedy channels rather than gaming, fashion, or DIY tutorial channels. This is a reflection of the rising trend of businesses and marketers spending a fortune to connect with Millennials via social media influencers.
We can anticipate an increase in these numbers as YouTube's popularity grows.
How Many Subscribers do You Need to Make Money on YouTube?
If your goal is to make money on YouTube, you should strive for 1000 subscribers. This is because YouTube bases the amount of its ad revenue it gives you on the number of people who watch your videos. Additionally, there are a lot of potential viewers to reach with roughly 1 billion active users.
Naturally, it's crucial to keep in mind that there are alternatives to using adverts to monetize YouTube.
You can also make money by selling things associated with your channel or by providing paid memberships that grant exclusive access to your content to YouTube Premium users.
No matter the path you choose, having a sizable and active subscriber base is crucial for consistently making money from your channel.
It’s time to be the pilot of your life and not the passenger.
