If you're wondering how to make money on YouTube, well, you should look no further than these 6 strategies which are the best for monetizing your Youtube channel and your creative content work.
Okay, revenue from advertisements is the most obvious way to make money on YouTube as an online entrepreneur on this platform. However, this is not the only way there are some more couple methods too.
(Spoiler: the best way to make money on YouTube is all the ways since you can use your own unique methods to get income from your audience.)
YouTube is a very massive platform with a whooping 1.9 billion users who are actively logging in every month. Also, another fact is that 300 hours of video are uploaded to YouTube every minute.
Read on, and i will elaborate for you six ways to earn income from your YouTube channel. and lets get started:
- Become a YouTube Partner
- Sell your own merchandise
- Create sponsored content
- Get your fans to pay you directly
- Use crowdfunding on an ongoing or one-off basis
- License your content to the media
And now for some step-by-step instructions for making money on YouTube.
How to make money on YouTube
Become a YouTube Partner
The YouTube Partner Program is how regular YouTubers get access to special features on the platform.
You don’t need to be a partner to make money on YouTube (just setting up an AdSense account and getting views is enough to handle that), but being a Partner makes it a lot easier.
YouTube Partners have access to multiple income streams: not just ads, but YouTube Premium subscription fees, and features that tap your fans’ wallets directly like Super Chat, channel memberships and the merchandise shelf (more on these later.)
Step 1. Start a channel
Step 2. Make your channel successful enough that it meets the YouTube Partner Program requirements
To join the program, you need a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.
Here are some ideas for how to get more of those precious YouTube views.
Step 3. Set up an AdSense account
This is simple. Just follow YouTube’s official guide to AdSense accounts.
Step 4. Explore your new monetization features
Each monetization channel has different eligibility requirements. For instance:
- Ad revenue: to earn ad revenue, you must be at least 18 years old, and you must create content that is advertiser-friendly. Basically, the less controversial your videos, the more YouTube advertisers will be comfortable running ads on them, and the more money you make.
- YouTube Premium revenue: if a YouTube Premium member watches your video, you get a portion of their subscription fee. (This one is automatic, which is nice.)
- Channel memberships: in order to sell channel memberships to your subscribers (i.e., your fans opt in to pay you an extra amount), you need to be at least 18 and have more than 30,000 subscribers.
- Merchandise shelf: in order to sell merch from YouTube’s merchandise shelf, you must be at least 18 years old, and have at least 10,000 subscribers.
- Super Chat payments: if you want your fans to have the ability to pay to have their messages highlighted in your live chats during your live streams, you must be at least 18 (and live in a country where the feature is offered).
Step 5. Submit to ongoing reviews
As a YouTube Partner, your channel will be held to a higher standard, according to YouTube. You have to follow not just the YouTube Partner Program policies, but the Community Guidelines. Not to mention staying on the right side of copyright law.
Sell your own merchandise
Maybe you identify as a content creator first, and entrepreneur second. (Just remember that even Drake sells t-shirts.)
Alternately, you’re an entrepreneur first and video creator second, which means you probably already have a product, and you’re designing your YouTube marketing strategy to sell it.
Either way, merchandise is a viable way to earn money from YouTube.
Step 1. Imagine and design your product
Merchandise for your channel is meant to both represent and feed your audience’s connection with you. That means your merch should be unique.
Hawaiian YouTube star Ryan Higa launched his milk-based energy drink Ninja Melk to leverage the popularity of his viral comedy, Ninja Melk. While he also sells t-shirts and other merch from his online shop, Ninja Melk’s appeal is broad enough it has its own website.
Pro tip: You might have more ideas for merch than you can possibly stock. So start by dipping your toes in the water with one or two items. But make sure you engage your audience in the decision-making process. Poll them as to what they want. Or build buzz by offering one-off products related to big subscriber-count milestones.
Step 2. Source and/or build your product
In most cases, you’ll need a manufacturer, supplier or wholesaler to make and deliver your product. Some suppliers will deliver it to you, and some will spare you the headaches of inventory, shipping and returns by handling it themselves.
If you’re not sure where to start, check out Shopify’s how-to on the topic of finding a brick-and-mortar company to make your dream a reality.
Step 3. Create your shop and landing page
You’ll need a separate website to handle purchases. If you want to link it directly from your videos (and you do), refer to YouTube’s list of approved merchandise sites.
Step 4. Enable your YouTube Partner merchandise shelf
YouTube Partners can also use the shelf feature to sell their channel’s merchandise. If you’re eligible, follow YouTube’s instructions to enable it.
Step 5. Promote your product in your videos
This is where your charm comes in. Wear or use your merch in your videos. Feature viewers who have bought and are using it. (If we were on another platform, we might call this ‘user-generated content,’ or possibly ‘solid gold’).
And don’t forget to add your store’s link to your video descriptions, and include end screens and cards with compelling calls to action.
Pro tip: Don’t forget to say thank you. Because it’s polite. But also because it’s an excuse to remind people how great and popular your product is, one more time.
Create sponsored content
You don’t have to be on Instagram to be an influencer. The advantage of the #sponcon strategy is that you don’t have to give YouTube a cut of your earnings. You negotiate directly with the brand, and they pay you directly. No wonder it’s a popular way for YouTubers to make money.
If you can offer brands a large and/or engaged audience—and your content is relevant to their target market—they probably want to hear from you.
For instance, YouTuber Aaron Marino, a.k.a. Alpha M, is big in the men’s lifestyle space. How big? So big that even his videos that explain his brand partnerships have brand partners.
Step 1. Find a brand to partner with
Quality is important, when it comes to the names you work with. You probably already have a wish list of dream brands. Whether you’re aiming for the stars or building yourself up grassroots-style, make sure you perfect your brand pitch before you send it.
Also consider signing up with an influencer marketing platform. These are intermediary websites that help marketing teams find appropriate influencers to work with. FameBit was one of the first to focus on YouTubers, for instance.
Step 2. Make a deal
According to this recent study by influencer marketing platform Klear, YouTube videos are, on the average , the foremost expensive sort of sponsored content brands can purchase from influencers. Basically, YouTube influencers are ready to charge more for his or her videos than they might for Instagram Stories or Facebook posts, because video is simply costlier to supply .
While your rate will vary on your audience’s size, engagement and relevance to your potential partner, know your worth before you sign a contract.
Step 3. Be transparent about your #sponcon #ad
Sponsored content is advertising. That means you need to make sure you’re in step with Google’s Ad policies. The FTC (U.S.) and ASA (U.K.) both have guidelines of which you should be aware, too, if you’re American or British.
Transparency is good for your legal health, but also for your relationship with your audience. YouTube has a visible disclosure feature to help you make sure your audience is aware that you’re advertising to them.
Get your fans to pay you directly
This strategy for creating money on YouTube includes a couple of different income streams, but all of them have one thing in common: you've got to form it easy for your fans to point out their appreciation with their mastercard .
Step 1. Host live chats where people can use Super Chat
In early 2017, YouTube replaced their previous Fan Funding feature with Super Chat. This is a feature that's only available to YouTube Partners while they live stream.
Essentially, your viewers can make their comments more visible—they’re highlighted and pinned for a group amount of your time counting on what proportion they pay—in the live chat stream.
Step 2. Encourage your fans to become channel members
YouTube offers the power to let your viewers pay you to become members of your channel. In exchange, they get custom emoji, badges, and access to members-only exclusives like Live Chats with you.
For instance, Wintergatan is a Swedish band that also makes elaborate marble machines and posts videos about it to their YouTube channel. they frequently thank their channel members in their videos. They also make it clear what the cash from memberships supports:
You’ll got to build out a promotion strategy to convince people to become members, which can or might not include several tiers of membership. Like Super Chat, this feature is merely available to YouTube Partners.
Step 3. Encourage your fans to become YouTube Premium subscribers
This step is that the last on our list for this strategy because it benefits your channel only indirectly. That said, when YouTube Premium members watch your channel, you get a cut of their subscription fee. (And so does every other channel they watch.)
Use crowdfunding on an ongoing or one-off basis
Soliciting donations online is now commonplace. Whether you’re looking to build ongoing revenue from a pool of small monthly donations, or looking to fund a personal, channel-related project, crowdfunding is how many YouTubers make money.
Step 1. Set up a crowdfunding account
YouTube has a list of approved crowdfunding sites to choose from.
For recurring funding Patreon is a top choice. Meanwhile, sites like GoFundMe or Kickstarter are best for one-off campaigns to get a new mic, or new laptop, or new … spleen.
Even household names like Walk Off the Earth or Veronica Mars (ok, she’s a fictional character) have used Patreon to fund their projects, be they music videos or feature-length films.
Step 2. Promote your campaign in your videos
Detail your specific goals so that people know exactly what they can expect when you’ve succeeded.
Also, offer enticing perks that stack as your fans choose how much they want to donate.
For more information and inspiration, check out this detailed guide to crowdfunding strategies.
Step 3. Go beyond YouTube
A successful campaign is a multi-platform affair. We have some advice on how to promote your YouTube channel (and by extension, your crowdfunding campaign) everywhere else.
License your content to the media
When a video goes viral, every news outlet wants to urge their hands on a replica so as to replay it for his or her audience. Fortunately, established media companies are cognizant that they have to buy what they use. And voila, you’ve got yourself differently to form money on YouTube.
As a content creator, licensing your most successful work to the media are often as simple as ensuring you’re easy to seek out.
Step 1. Keep your contact details updated on your About page
You never know when lightning will strike. albeit you don’t have a business manager, found out a generic email account that you simply can point to for business inquiries.
Step 2. Sign up to a video rights marketplace
Jukin Media is a great place to start. Even if you don’t have a viral video like the Chewbacca mask lady (see below), media outlets often need timely footage to round out their reporting.
For instance, Jukin has an entire catalogue of ‘newsworthy’ videos that you can contribute to, if you happen to have exclusive footage of a major natural disaster, plane crash, or plague of locusts.
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