So, you have decided to create a YouTube channel and make lucrative money. You have chosen the right platform.
One of the foolproof ways to make easy money is YouTube as it lets you monetize your account, unlike other social media networks. Additionally, it provides diverse options to make really a good amount of money as a reward for your extraordinary content.
YouTube is the second most used search engine and is almost half of the Internet, so you will never go unnoticed or failed as nearly 79% of internet users access YouTube. Yes, there are more than 2 billion YouTube users worldwide. So, if your content is really great and engaging, it may go viral. And who knows you might be the next YouTube star.
How to Make Money from YouTube?
There are many ways you can make money from this most popular social media platform. However, how much you earn depends on the strategies you choose. Before we discuss those strategies to make money, let’s see how much you can actually make from YouTube.
You can make $1-$2 for 1000 views on your video. If you run ads on your video you can make $7.60 for the same 1000 views. With that said,
YouTubers earn up to $50,000,000 on average for 1 billion views. Okay, don’t get overwhelmed seeing this figure.
Read the detailed article: How much money does 1 million youtube views make?
Those YouTube stars making seven-figure money are self-made celebs, they worked hard, showed patience, honed their creativity and entertained their audiences whenever they appear on the screen. So, becoming a YouTuber needs creativity, originality, memorable content, grit and patience. Why? Well, you will know that soon in this article.
Similar to other social media platforms such as Facebook, Instagram, TikTok etc. making money from YouTube also requires a huge number of followers (subscribers). Say, if you want to generate revenue directly from your own videos and get paid from YouTube, you need more than 1000 subscribers and over 4000 watch-hours in the past 12 months. Remember, Patience? Luckily, this isn’t the only way to fill your pockets, there are many other ways as told. So, shall we explore them?
Sell your Products
Running a business or store? Well, take traffic to them from YouTube for free. Confused? You can create a channel for your business or your store that sells any legal items, shoot videos, and promote them for free. But remember before you actually drive traffic to your site or store, you need audiences. So, optimize your meta title, description, and tags properly, else you make nothing out of your effort. After all, your ideas and promotions need to reach the right people right? Otherwise, what is the point for you to enter into such a competitive platform?
Join Affiliate Marketing
There are numerous affiliate marketing sites such as Amazon affiliate program, ClickBank, eBay, etc. that help you make money by promoting them on your social media channels. So, if you are a YouTuber helping your audiences with product reviews, suggestions, how-to’s, tips, etc. then you can make a decent income through affiliate marketing. As you have people who listen to you take your suggestions. All you need to do is put a video related to affiliate products and promote them transparently yet honestly. So, choose the products carefully else you may lose your trusted subscribers.
Ensure you put affiliate links in the description of your video so that you get paid your commission when people click and purchase the products.
You can even find affiliate programs in most of the eCommerce stores directly. Clarify the commission rate and start promoting.
Become a YouTube Partner
Youtube Partner Program (YPP) credits YouTube’s content creators with rewards such as Ad revenue, Membership programs, Premium plan, and Super chat. Wondering what exactly are these?
Ad revenue
When your account is verified for monetization (remember 1,000 subscribers and 4000 watch-hours for your videos?) YouTube starts displaying ads on your videos based on your preferences.
You get 55% of the ad revenue whereas 45% go to YouTube.
Wanna know How does Youtube makes money? Read here.
There are three types of ads: TrueView ads, Preroll ads, and Bumpers. These include skippable ads, non-skippable ads, ads before and after the main video, and overlays (non-video ads, simply banners).
Note: Running ads on your videos alone can’t earn you money. Your visitors need to either watch them fully or click on them. So, wisely choose the type of ads you allow on your videos. Inappropriate or irrelevant ads can make your followers turn down.
Channel Membership
YouTube lets you offer exclusive content to your loyal and paid subscribers. You can motivate your subscribers to become your channel members paying some extra amount.
You need to have at least 30,000 subscribers to add channel membership to your account.
Super Chat
YouTube has an amazing feature to fund creators and entertain subscribers. You can do live streaming and make money when your subscribers or fans reward you with coins. Subscribers pay you to get their names highlighted in your Live.
YouTube Premium
This is a super simple way to make money as you don’t have any part to do here but receive payments. What it is? Simple, you get a part of revenue when a YouTube Premium member watches your videos or content.
Use Crowdfunding
The other way to make money for your future projects is Crowdfunding. Share your ideas, mission, or vision of your future projects for which you need some bucks to implement. This is similar to other crowdfunding platforms outside YouTube such as Kickstarter, Patreon, GoFundMe.
This way you can launch your dream product, take it to customers, and get rewarded without having to put too much effort into arranging expenses.
Work with Brands
As we mentioned in the other article How to Make Money from Instagram. Brands need you. They need you because they don’t have time to build audiences for their business but are smart enough to drive your subscribers to their sites.
Moreover, they can pay you for leading your fans to their site or store. So, search for the brands that you feel like they need you. Or agree to the proposals with good rewards. But again stay choosy when selecting brands, pick the ones that are related to your niche and your followers’ interest.
Luckily, you don’t have to wait till they reach you or get tired searching for them. There are a few sites that already have registered brands looking for influencers and vice versa. Some of them are Famebit, Grapevine Logic, Channel Pages, and Crowdtap.
License your Work to Media
This is one of the great ways to many huge sums of money all at once. You can make money by licensing your video that has gone viral to media outlets. Not all your videos may go viral and demand huge amounts of money. But if someone reaches you for a license for a video that has gone viral, do not hesitate to charge them loud.
Create Sponsored Content
If you are a product reviewer be it gadgets, kitchenware, or appliances, you might have noticed a few unpopular brands that offer high quality. They are unpopular because they don’t market themselves. In this case, you can proactively approach them and quote your deal with sponsored video. You can either receive commission per sale of bulk amount for your contribution if they agree.
Go Beyond YouTube
You can only gain big through social media or entertainment platforms with your influence simply, your popularity, your genuine fanbase, and consistency. So, go promote yourself on other platforms beyond YouTube. Share your content or videos on Facebook, Instagram, Twitter actively, and increase your fanbase.
Bottom Line
Millions of YouTubers all over the world are making money from YouTube with their passion and grit, so you could do. But all you need is patience, effective strategies, originality, and engagement with your audience. You can analyze your growth with the YouTube analytics tool and plan your next strategies while constantly serving your audience with fun and worthy information.
