Okay, the most apparent way to earn money on YouTube is through advertising. However, this is not the only or, to be honest, the best method.
YouTube is the majority of the internet, with 1.9 billion monthly subscribers. However, 500 hours of footage are posted to the website per minute.
You already know that this post will not be about how easily you can get a Swiss watch with the advertising income from your YouTube views. (However, if your video has millions of views, you could certainly hire one. Wait, don’t.)
Step-by-step instructions on seven strategies to generate cash from your YouTube channel are provided below.
How to get income on YouTube
Participate in the YouTube Partner Program.
The YouTube Partner Program grants normal YouTubers access to the platform’s unique features.
Setting up an AdSense account and generating views is sufficient to generate revenue on YouTube; but, being a Partner makes the process more simpler.
YouTube Partners have access to several revenue sources, including not only video advertisements but also YouTube Premium subscription fees and features that directly touch your dedicated fans’ money, such as Super Chat, channel subscriptions, and the product shelf (more on these later.)
Step 1: Create a YouTube channel.
We’ve got you covered with a helpful guide. It is titled “Creating a YouTube Channel.”
Step 2: Generate sufficient success for your channel to fulfill the YouTube Partner Program’s standards.
To qualify for the program, you must have attained at least 1,000 subscribers and 4,000 watch hours in the preceding 12 months.
Here are some suggestions on how to increase your YouTube views.
Third step: Create an AdSense account
This is easy. Simply adhere to YouTube’s official AdSense instructions.
Step 4: Investigate your new monetization capabilities
Each avenue of monetization has distinct qualifying requirements. For example:
Ad revenue: to earn ad money, you must be at least 18 years old and provide advertiser-friendly content. The less contentious your films are, the more comfortable YouTube marketers will feel placing advertising on them, and the more money you will make.
If a YouTube Premium subscriber sees your video, you receive a percentage of their monthly money. (This is automated, which is convenient.)
To offer channel subscriptions to your subscribers (i.e., have your followers opt-in to pay you extra money), you must be at least 18 years old and have more than 30,000 subscribers.
To sell products from YouTube’s retail shelf, you must be at least 18 years of age and have at least 10,000 subscribers.
Super Chat payments: you must be at least 18 years old if you want your followers to be able to pay to have their words highlighted in your live chats during your live streams (and live in a country where the feature is offered).
Step 5: Provide continuing reviews
YouTube states that as a YouTube Partner, your channel will be held to a higher standard. You must adhere not just to the YouTube Partner Program rules, but also to the Community Guidelines. Not to mention maintaining compliance with copyright law.
Sell your own merchandise.
Perhaps you consider yourself a content producer first and an entrepreneur second. Keep in mind that even Drake sells t-shirts.
Alternately, if you’re an entrepreneur first and a video producer second, you likely already have a product and are building a YouTube marketing strategy to sell it.
Regardless, selling items on YouTube is a practical method to get income.
Step 1: Visualize and plan your product
Merchandise for your channel is intended to both symbolize and strengthen the relationship between you and your audience. Therefore, your merchandise should be unique.
Utilizing the popularity of his viral comedy, Ninja Melk, Hawaiian YouTube personality Ryan Higa created his milk-based energy drink Ninja Melk. While he also sells t-shirts and other merchandise through his internet store, Ninja Melk’s popularity is sufficiently broad to have its own website.
You may have more merchandise ideas than you can physically stock. Therefore, begin by testing the waters with one or two products. However, be certain to involve your audience in the decision-making process. Inquire as to what they desire. Or generate interest by delivering unique items relevant to subscriber milestones.
Step 2: Sourcing or manufacturing your product
Typically, you will need a manufacturer, supplier, or wholesaler to create and distribute your goods. Some vendors will bring it to you, while others will handle inventory, shipping, and returns to spare you the hassle.
Step 3: Create your storefront and landing page
You will need a separate website to manage transactions. Refer to YouTube’s list of permitted merchandise sites if you wish to connect directly to these sites from your videos.
Step four: Allow your YouTube Partner product shelf
YouTube Partners may now utilize the shelf function to sell products associated with their channel. If eligible, activate it by following YouTube’s instructions.
Step 5: Advertise your goods through videos
This is when your appeal comes into play. Utilize your merchandise in your videos. Include viewers who have purchased and are utilizing the product. (If we were on a different platform, we could refer to this as “user-generated content” or “solid gold”).
And remember to include a link to your business in the video’s description, as well as end screens and cards with engaging calls to action.
Don’t forget to express gratitude. Because it’s courteous. But also because it’s an opportunity to tell folks again again how fantastic and popular your product is.
Develop ad-supported content
An Instagram account is not required to be an influencer. The benefit of the #sponcon technique is that you do not have to share a portion of your revenue with YouTube. You deal with the brand directly, and the brand pays you directly. No wonder it’s a popular method for YouTubers to generate income.
If you can provide companies with a big and/or engaged audience, and your material is relevant to their target market, they will likely be interested in hearing from you.
For example, YouTuber Aaron Marino, often known as Alpha M, is popular in the men’s lifestyle industry. How big? Even his films explaining his brand collaborations contain brand partners.
Step 1: Identify a brand to collaborate with
Regarding the names you collaborate with, quality is essential. You likely already have a list of your ideal brands. Whether you’re going for the stars or building yourself up through grassroots efforts, make sure your brand pitch is flawless before sending it.
Consider up for an influencer marketing platform. These are intermediate websites that assist marketing teams in locating suitable influencers with whom to collaborate. For example, FameBit was one of the first platforms to focus on YouTubers.
Step 2: Conclude an agreement
YouTube videos are, on average, the most costly kind of sponsored content that marketers can buy from influencers, according to a new report by influencer marketing platform Klear. YouTube influencers are able to charge more for their videos than for Instagram Stories or Facebook posts since the production of video is more expensive.
While your pricing will differ on your audience’s size, engagement and relevancy to your potential partner, know your worth before you sign a deal.
Step 3: Be honest about your sponsored advertisement
Promoted content constitutes advertising. Therefore, you must ensure compliance with Google’s Ad rules. The FTC (U.S.) and ASA (U.K.) both have criteria of which you should be aware, too, if you’re American or British.
Transparency is essential for your legal health, but also for your connection with your audience. You may use YouTube’s visible disclosure function to ensure that your audience is aware of your advertising efforts.
Become an associate partner
If your YouTube following is loyal and engaged, but not large enough in terms of headcount, seek for affiliate marketing businesses.
Affiliated YouTubers urge their viewers to visit the brand’s online store or particular product pages. They then collect a portion of purchases made through their – you guessed it – affiliate connections.
Affiliate partnerships are similar to sponsored content arrangements in terms of setup and logistics, so follow the procedures in Tip #3 to get started.
Get your fans to pay you directly
This technique for generating money on YouTube involves a variety of income streams, but they all have one thing in common: you must make it simple for your viewers to pay with credit card.
Step 1: Host live conversations where users of Super Chat can participate.
Super Chat replaced YouTube’s prior Fan Funding function in early 2017. This functionality is only accessible to YouTube Partners during live streams.
In essence, your viewers may make their comments more apparent in the live chat stream by paying to have them highlighted and pinned for a specified period of time.
Step 2: Encourage your viewers to subscribe to your channel
YouTube provides the option for your visitors to pay to subscribe to your channel. In exchange, they receive customized emoji, badges, and access to member-only perks such as Live Chats with you.
For example, Wintergatan is a Swedish band that creates complicated marble machines and broadcasts YouTube movies about them. They appreciate their subscribers frequently in their videos. In addition, they explain what the membership fees support:
To entice individuals to become members, you will need to develop a promotion plan, which may or may not include many membership tiers. Similar to Super Chat, this function is exclusive to YouTube Partners.
Step 3: Encourage your viewers to subscribe to YouTube Premium
This is the final phase in this plan because it only indirectly improves your channel. Consequently, when YouTube Premium subscribers see your channel, you receive a portion of their monthly money. (As do all of the other channels they watch.)
Online contribution solicitation is becoming prevalent. Crowdfunding is how many YouTubers generate income, whether they’re wanting to develop recurring revenue from a pool of tiny monthly donations or want to support a specific channel-related project.
First, create a crowdfunding account.
YouTube provides a list of permitted crowdfunding websites.
For regular donations, Patreon is an excellent option. In the meanwhile, platforms like GoFundMe or Kickstarter are ideal for one-time campaigns to get a new microphone, laptop, or… spleen.
Even major names such as Walk Off the Earth and Veronica Mars (okay, she’s fictitious) have utilized Patreon to support their projects, whether they music videos or feature-length films.
Step 2: Advertise your campaign with videos
Specify your explicit objectives so that others are aware of what to expect when you achieve them.
Also, give benefits that accumulate based on how much your supporters donate.
Check out this comprehensive guide on crowdfunding tactics for more information and ideas.
Step 3: Go further than YouTube
A successful campaign utilizes several platforms. We have some recommendations for promoting your YouTube channel (and, by implication, your crowdfunding campaign) elsewhere.
License media outlets to use your material
When a video becomes viral, every news organization tries to obtain a copy so they may show it to their viewers. Established media businesses are thankfully aware that they must pay for the resources they utilize. And voilà, you now have an additional option to generate money on YouTube.
As a content producer, licensing your most popular work to the media may be as straightforward as ensuring that you are easily discoverable.
Step 1: Update your contact information on your About page
There is no telling when lightning may strike. Even if you do not have a business manager, you should create a generic email address for business enquiries.
Register with a video rights marketplace
Jukin Media is an excellent starting point. Even if you don’t have a popular video like the woman in the Chewbacca mask (see below), media outlets sometimes want timely film to supplement their stories.
You may add to Jukin’s whole collection of “newsworthy” films, for instance, if you have unique footage of a huge natural disaster, plane crash, or locust infestation.
How much money is it possible to make on YouTube?
Unfortunately, the solution to this age-old issue is frustrating: it depends.
The story of 9-year-old YouTuber and multimillionaire Ryan Kaji demonstrates that the sky is the limit. However, entering seven-figure territory requires significant effort, perseverance, and chance.
YouTube’s income is primarily dependent on AdSense. Simply said, YouTubers are compensated for each advertisement watch on their channel. However, rates vary among regions, demographic groups, and even sectors (software ads may have a higher CPM than, for example, clothing ads).
AdSense provides YouTubers with an average of $3 to $5 every 1,000 video views. This may add up to a substantial income if your channel is reaching a large audience. It is not unusual for large creators to earn over $200,000 per month through AdSense alone.
But even if your channel is trending and AdSense income is filling your bank account, keep in mind that YouTube success depends on numerous factors, some (or most) of which are outside your control – the YouTube algorithm may change, as can the likes and demands of your audience.
To ensure that the money you earn on YouTube translates into a healthy and sustainable income, follow our seven suggestions and diversify. Merchandise, branded agreements, and crowdfunding can provide income even if your AdSense earnings decrease.