Okay, monetizing your YouTube channel through ads is the most straightforward option. However, this is not the best or even the only option.
YouTube’s 1.9 billion monthly users make up almost half of all internet users. On the other hand, 500 hours of video are added to the site every minute.
You probably don’t need me to tell you that the ad money you make off of your YouTube views won’t even come close to affording a Swiss watch. (Though if your video has millions of views, you might be able to rent one. Whoa, hold on a second.)
Making Money on YouTube: The Step-by-Step Guide
1) Enroll in YouTube’s Partner Program
Normal YouTube users can gain access to premium services by joining the YouTube Partner Program.
The only requirements for making money on YouTube are an AdSense account and views, but becoming a Partner streamlines the process significantly.
Besides traditional video ads, YouTube Partners can also profit from YouTube Premium subscription fees and features that directly monetize your audiences, such as Super Chat, channel memberships, and the product’s shelf (more on these later.)
2) Market your products
Perhaps you see yourself as a creator before an entrepreneur. (Don’t forget that even Drake has a merch store.)
The other possibility is that you’re an entrepreneur who happens to make videos; in this case, you already have a product and are working on a YouTube strategy to promote and sell it.
3) Make sure to include sponsored content
Being active on Instagram is not a prerequisite for influencing the digital space. One of the benefits of using the #sponcon strategy is that it does not require you to hand over a portion of your earnings to YouTube. You engage in direct negotiations with the brand, and you receive direct payment from them.
If you can offer brands an audience that is either large or engaged, and if your content is appropriate to the audience they are trying to reach, then they will likely want to hear from you.
For example, the YouTuber Aaron Marino, better known by his moniker Alpha M, is quite successful in the men’s lifestyle space. How big? To such a large extent that even the videos he creates to clarify his brand partnerships have product partners.
YouTube channels with a dedicated and active following but a smaller subscriber base should consider partnering with affiliate marketing firms.
Affiliated YouTubers try to get their viewers to buy products or check out the company’s website. Then, when people buy through their affiliate links, they give them a cut.
Getting started with affiliate partnerships is similar to setting up a sponsored content deal.
4) Find a way to have your supporters pay you directly
This method for getting money on YouTube involves a few distinct sources of revenue, but they all have one feature in common you need to make it simple for your supporters to express their gratitude by paying with their credit cards.
5) Make use of crowdsourcing
Donation campaigns that take place entirely online have becoming more common. Crowdfunding is a common way for YouTubers to make cash, and it may be used for a number of purposes, including the development of a constant stream of income from a collection of small monthly donations and the financing of personal projects that are related to the channel.
6) Give the media a license to use your work
When a video gains massive online popularity, every news organization desires to get their hands on a copy so they can show it to their viewers. Established media outlets, thankfully, are aware that they must pay for all of the content they distribute. And there you have it; yet another method of monetizing your YouTube channel.
One of the most important steps you can take as a creator is to make yourself easily discoverable online.
Can you make money on YouTube?
Unfortunately, there is only one frustrating answer to this age-old question: it depends.
Ryan Kaji, a 9-year-old YouTuber who has made millions of dollars, is proof that any goal is achievable. However, it takes significant time, consistent effort, and luck to break into the seven-digit range.
AdSense is crucial to YouTube’s business model. Advertisers pay YouTubers a small amount for each view of their video. But rates differ by location, demographics, and even industry.
YouTubers can expect to make between $3 and $5 per 1,000 views through AdSense. This can add up to a nice salary if your channel is popular. Big content producers often earn $200K+ per month in AdSense revenue.