Perhaps, you've been wondering how to make money on YouTube, these 6 simple steps will walk you through monetizing your YouTube channel and as well creating lots of fun for yourself.
The most obvious way to make money on YouTube is through advertising. However, it is not the only option.
YouTube accounts are made up of half of the internet, with 1.9 billion monthly unique users.
Nonetheless, every minute, 500 hours of video are posted on YouTube.
So you already know that this article isn't going to be about how easy it is to buy a Swiss watch using ad income generated by your YouTube views. (Though you could definitely rent one if you had millions of views.)
But do you think, that would be necessary?
Okay!
Continue reading to learn more on the six(6) strategic ways to monetize your YouTube.
And this is as follows:
1. Join the YouTube Partner Program.
2. Make money by selling your own products.
3. Create content that is sponsored.
4. Make it possible for your supporters to pay you directly.
5. Crowdfunding can be used on a regular or one-time basis.
6. The media can use your work if you give them a license.
Now, let's check out all this step-by-step on how to make money on YouTube in detail, so you can easily follow the same steps and get started.
How to Make Money on YouTube
Step 1 Join the YouTube Partner Program.
Regular YouTubers or YouTube Creators can gain access to unique YouTube features 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 receiving views will be enough).
There are other ways you can monetize your YouTube channel such as sharing your affiliate link from an affiliate program, or selling your personal product (used or unused) but becoming a Partner makes things a lot easier.
YouTube Partners can earn money from a variety of sources, including adverts, YouTube Premium subscription fees, and features that directly affect your viewers' wallets, such as Super Chat, channel memberships, and the goods shelf (more on these later.)
a) Create a channel:
Don't worry, we've got you covered with a simple guide. 'How to Create a YouTube Channel' is as simple as just creating a Gmail account.
b) Make your YouTube channel good enough to qualify for the YouTube Partner Program:
A minimum of 1,000 members and 4,000 watch hours in the past 12 months are required to join the program.
Here are some suggestions for increasing the number of views on YouTube.
c) Create a Google AdSense account:
This is straightforward. Simply follow YouTube's official AdSense account guide.
d). Take a look at your new monetization options:
Each monetization channel has its own set of eligibility criteria. Consider the following example:
Ad Revenue: To earn ad money, you must be at least 18 years old and develop content that is appealing to advertisers.
Simply put, the less contentious your videos are, the more comfortable YouTube advertisers will be running adverts on them, and the more money you'll make.
YouTube Premium Revenue: If a YouTube Premium subscriber watches your video, you will receive a percentage of their monthly money. (It's good that this one is automatic.)
Channel Membership: You must be at least 18 years old and have over 30,000 subscribers to offer channel memberships to your subscribers (i.e., your followers opt in to pay you an additional fee).
Merchandise Shelf: You must be at least 18 years old and have at least 10,000 followers to sell items through YouTube's merchandise shelf.
Super Chat Payments: You must be at least 18 years old to allow your followers 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).
e) Participate in continuing evaluations:
According to YouTube, as a YouTube Partner, your channel will be held to a higher standard.
Not only must you adhere to the YouTube Partner Program's standards, but also to the Community Guidelines. Not to mention staying within the bounds of copyright legislation.
Step 2 Make money by selling your own products
a) Create a prototype of your product:
Your channel's merchandise should both represent and nourish your audience's relationship with you. That means your merchandise should be one-of-a-kind.
To capitalize on the success of his viral comedy, Ninja Melk, Hawaiian YouTube personality Ryan Higa created his milk-based energy drink Ninja Melk. Ninja Melk's appeal is extensive enough that he has his own website, where he sells t-shirts and other merchandise.
Helpful tips: You might have more merchandise ideas than you can stock. So start with one or two items to dip your toes in the water.
However, make certain that your audience is involved in the decision-making process. Take a poll to find out what they desire.
Check out the Resource In Becoming a Digital Marketer:
12 Effective Ways to Make Money With Digital Marketing In 2021
Alternatively, create hype by releasing one-time products in conjunction with significant subscriber-count milestones.
b) Your product should be sourced and/or built.
To build and transport your product, you'll almost always require a manufacturer, supplier, or wholesaler. Some vendors will send it to you, while others will handle inventory, shipping, and returns for you, saving you time and money.
If you're not sure where to begin, Shopify has a how-to on locating a brick-and-mortar firm to help you realize your goal.
c) Create a shop and a landing page for your business:
To process purchases, you'll need a second website. Refer to YouTube's list of permitted merchandise sites if you wish to connect to it directly from your videos (which you should).
d) Activate the product shelf for your YouTube Partner:
YouTube Partners can now use the shelf feature to sell products associated with their channel. Follow YouTube's instructions to enable it if you're eligible.
e) In your videos, promote your product:
This is where your charm enters the picture. In your videos, wear or use your stuff. Showcase viewers who have purchased and are utilizing the product. (We might term this ‘user-generated material,' or even ‘solid gold,' if we were on another platform.)
Also, don't forget to include end screens and cards with engaging calls to action, as well as a link to your store in your video descriptions.
Helpful tips: Don't forget to express gratitude. Because it's the courteous thing to do. But it's also an excuse to remind folks about how fantastic and popular your product is yet again.
Step 3 Create content that is sponsored
To be an influencer, you don't have to be on Instagram. You don't have to give YouTube a percentage of your earnings if you use the #sponcon approach.
You deal with the brand directly, and they pay you directly. It's no surprise that it's a popular way for YouTubers to earn money.
Brands are likely to be interested in hearing from you if you have a large and/or engaged following and your material is relevant to their target market.
In the men's lifestyle area, for example, YouTuber Aaron Marino, a.k.a. Alpha M, is a major name. How big is it? His brand partnerships are so large that even his videos explaining them have brand partners.
a) Look for a brand to collaborate with:
When it comes to the brands you work with, quality is crucial. Most likely, you already have a wish list of desirable brands.
Make sure you refine your brand pitch before sending it, whether you're shooting for the stars or building yourself up from the ground up.
Consider using an influencer marketing platform as well.
These are websites that assist marketing teams in locating acceptable influencers to collaborate with. For example, FameBit was one of the first to focus on YouTubers.
b) Strike a Deal:
YouTube videos are, on average, the most expensive type of sponsored content brands can buy from influencers, according to a recent study by influencer marketing platform Klear.
Because video is more expensive to produce, YouTube influencers can charge more for their videos than they can for Instagram Stories or Facebook posts.
While your rate will vary depending on the size, engagement, and relevancy of your audience to your potential partner, you should know your worth before signing a deal.
c) Make your #sponcon #ad as transparent as possible:
Advertisement is what sponsored content is. That means you'll need to make sure you're following Google's advertising regulations.
If you're American or British, you should be aware of the FTC (United States) and the ASA (United Kingdom) standards.
Transparency is beneficial not only to your legal health but also to your audience's relationship with you.
You can use YouTube's visible disclosure function to make sure your audience knows you're advertising to them.
Step 4 Make it possible for your supporters to pay you directly
This YouTube money-making plan comprises a few distinct revenue streams, but they all have one thing in common; you must make it simple for your followers to express their gratitude by using their credit cards.
a) Organize live chats where participants can use Super Chat.
YouTube's prior Fan Funding option was replaced by Super Chat in early 2017. This is a feature that only YouTube Partners can use when live streaming.
In the live chat stream, your viewers can make their comments more apparent by highlighting and pinning them for a defined amount of time, depending on how much they spend.
b) Encourage your fans to subscribe to your YouTube channel:
YouTube allows you to charge your visitors to become members of your channel.
They get personalized emoji, badges, and access to members-only benefits like Live Chats with you in exchange.
Wintergatan, for example, is a Swedish band that constructs complicated marble machines and uploads films about them on YouTube.
They acknowledge their channel members in their videos on a regular basis.
They also state clearly what the money raised from membership dues is used for.
c) Encourage your fans to subscribe to YouTube Premium:
This is the last phase in our plan because it only improves your channel indirectly.
You do, however, receive a portion of the membership money from YouTube Premium users who watch your channel. (They do the same thing with every other channel they watch.)
Step 5 Crowdfunding can be used on a regular or one-time basis
Soliciting donations via the internet has become widespread.
Many YouTubers gain money through crowdfunding, whether it's to build a steady stream of income from a pool of tiny monthly donations or to fund a personal, channel-related project.
a) Create a crowdsourcing account:
You can choose from a list of permitted crowdfunding sites on YouTube.
Patreon is a great option for recurrent funding. Meanwhile, one-time campaigns for a new microphone, laptop, or... spleen work best on platforms like GoFundMe or Kickstarter.
Even well-known artists such as Walk Off The Earth and Veronica Mars (OK, she's a fictional character) have used Patreon to support their projects, whether they're music videos or full films.
b) In your videos, promote your initiative:
Specify your objectives so that others know exactly what to expect when you achieve them.
Also, give appealing incentives that accumulate as your supporters pick how much to donate.
Check out our comprehensive guide on crowdfunding tactics for more information and ideas.
c) Don't stop at YouTube, go beyond:
A multi-platform campaign is essential for success. We can help you market your YouTube channel (and, by extension, your crowdfunding campaign) in other places.
Step 6 The media can use your work if you give them a license.
When a video becomes viral, every news organization wants a copy so that they can show it to their audience.
Making sure you're easy to find as a content creator can help you license your most successful work to the media.
a) Update your contact information on your About page:
It's impossible to predict when lightning will hit. Set up a generic email address that you can use for business queries even if you don't have a company manager.
b) Become a member of a video rights marketplace:
Jukin Media is an excellent place to begin. Even if you don't have a popular video like the Chewbacca mask lady (see below), news organizations frequently require current footage to supplement their coverage.
If you have an exclusive film of a huge natural disaster, plane crash, or locust plague, for example, Jukin has an extensive collection of ‘newsworthy' recordings to which you can contribute.
At this point, I can assure you of a peak of success in your YouTube money-making journey.
Don't hesitate to comment if you have any question or needs help.
…and please like, share, cheers!
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