Making money on YouTube is like an having elephant in your room! Why? Because every day we watch 1 billion hours of videos. In fact, gazillions of users logged in to YouTube every month. This immense popularity causes this exceptional platform to transcend itself from an entertainment medium to a powerful monetization tool.
Spending TONS of hours on YouTube, you might think first that these people upload their content for free. For sure, they might have started out that way, but not anymore! As YouTube’s most-watched channels are making a lot of money, really!
Now, YouTube isn’t just for sloppy filmmakers or people videotaping their pets. Today many self-made celebs like musicians, journalists, entrepreneurs, and many others find monetary value in posting their own amazing yt shorts on YouTube.
Therefore, if you wake up with the spirit to start monetizing your YouTube channel once and for all then do it and start to fill some extra dollars in your pocket. As this platform is still in its full swing and it seems that there is no ceiling.
So let’s get started.
How to Make Money on YouTube?
YouTube, is a site where many spend infinite hours watching videos, but for others, it’s a way to make bucks. Becoming a pro-YouTuber might sound exciting, but there’s a hustle. Luckily, if you’re already an avid video creator then you’ll make money. All you’ve to do is: Find your niche, post regularly, buy the right gear, or learn how to edit your videos.
Are you wondering how much money YouTube generates? Here it is! Google has given us the statistics that YouTube generated $15 billion on advertising in 2019, WOAH! After reading this data, do you still think it isn’t worth it to bet on this medium? Stop wondering and look no further than these 7 strategies.
1. Become a YouTube Partner
To earn some extra bucks directly through YouTube, you must join the site’s partner program. For that, you will have to meet the criteria of the YouTube Partner Program (YPP) and must abide by certain rules as this removes bad actors in the community. In addition to this, creators won’t be able to turn on monetization until they hit a defined threshold.
So basically, your content must meet the standards of the site’s advertising guidelines and have more than 4,000 legit watch hours with 1,000 subscribers in the last 12 months. Provided you meet the basic requirements, you can submit an application to join the program: Click your account icon › Select Creator Studio › Channel › Status and Features › Enable Monetization.
Once you do this then click Agree to the YouTube Partner Program Terms. You have to link your YouTube channel to a Google AdSense account. And Submit to ongoing reviews, meaning that you have to follow not just the YPP policies, but the Community Guidelines as well.
When that’s done, head back to the dashboard and click the Analytics tab on the left side. From there, scroll down to the Monthly Estimated Revenue to get an idea of your predicted income.
YouTube Partners have access to manifold revenue streams i.e., Ad revenue (the perks didn’t just end up there, alright?) But there are YouTube Premium subscription fees and other monetization features that tap your fans’ pouch directly like Super Chat, channel memberships, and the merchandise shelf.
2. Use affiliate links on YouTube
The second alternative is to promote products & brands with affiliate marketing, as this is the next era’s advertising bedrock. Now, what is Affiliate Marketing? Well, as an affiliate marketer you’ll get a special link from the brand website which tracks back to your page. Once a person buys a product from that link, you’ll get a commission, isn’t this simple?
Here are just a handful of ideas on how to do it: like join an affiliate program (Target, BestBuy, or Impact) that offers a 10% commission. Reach out to your favorite brands and promote their products to your audience. Furthermore, you can feature the products in your content so that it doesn’t seem overly promotional with its link in your description.
Nowadays, brands invest more in affiliate marketers, as they already won the loyalty of their audiences. Hence, there’re some keys you’ve to keep in mind as an affiliate marketer, first, you build transparency and don’t endorse anything you don’t actually like or believe in. Transparency is good not only for your legal health but your relationship with the audience.
Second, ensure the quality of the brand you’re partnering with. Third, make a deal as YouTubers are able to charge more for their videos than they would for Instagram Stories or Facebook posts, just because the video is more expensive to produce, right?
A recent study revealed that the average business makes $6.50 for every $1 it spends on affiliate marketers, pretty cost-effective! So, yeah. Sponsored videos work! Therefore, gear up your game and master this art of promoting brands & their products. Keep reading for more!
3. Receive Money on YouTube from Fans Funding
Another option for making a mint on YouTube is fan funding. As fancy as it sounds, in fan funding you can actually call upon your audience to pitch in your content if it’s compelling enough! But if you feel shy, you can post a video pitching a project, excite your viewers and then ask them to support this project.
You can also trade this off with some enticing rewards. The more you can make donors feel like they’re getting something exclusive for being a loyal fan, the more likely you will get donations and higher pledges. Some popular income streaming options through fan funding are:
First is YouTube’s Super Chat where you host live public chats and create a tipping jar for your viewers to donate whatever they feel like contributing. The second is Patreon which allows you to launch membership-only video channels through YouTube at a small fee per month for regular rewards.
The third is Kickstarter where you create a free account for the product you believe in and set a financial goal, and share that link with your viewers. Encourage your fans to become YouTube Premium subscribers as its paybacks your channel indirectly. As a result, when YouTube Premium members watch your channel, you get a cut of their subscription fee.
So, yeah! Fan funding is the perfect option for videos managed by charities and nonprofit organizations, but even independent creators and entrepreneurs publish such videos. Whatever option you choose, make sure you create a special bond with your subscribers first. Don’t ask for their money right away, you’ll only appear pushy!
4. Excel in YouTube SEO
Source: tagseoblog.com
Want to enhance your viewership and followers? If yes then follow YouTube’s Search Engine Optimization practices. With some good content on hand try to optimize videos for YouTube. This includes varied tools like using the Google keyword planner to find words that a large number of people search for and to include those keywords on your video page.
Tips: Insert your intended keyword in the video’s title; Optimize your video description; Tag your video with popular keywords that relate to your topic; Upload a custom thumbnail image; and finally, add End Screens to increase your channel’s viewership. Get the point!
YouTube wants to deliver the optimum content for each individual user. In the past, videos used to be ranked on the basis of no. of views received but now it’s based on multiple factors that YouTube doesn’t really want to share. However, metadata and engagement in terms of comments/likes are impactful factors you must keep in your mind.
Consequently, you have to play the long SEO game to make money on YouTube and do everything to ensure that your videos get found. This metadata will help you to maximize your presence in searches, promotions, suggested videos, and ad servings. You just have to understand the key that how the YouTube algorithm works.
Additionally, YouTube says that other aspects like how often you upload videos, the no. of hours users spend on your content, and the niche users usually watch can all impact your placement in the search results. Remember to stay up to date with algorithm guys!
5. Prepare Marketing Funnel for YouTube
Scratching your head that what exactly is a YouTube marketing funnel? Well, it is a way to track the customer journey from top to bottom. A customer passes through three stages, and this can be metaphorically known as a funnel. As a result of this funnel, you’ll graphically figure out how your videos will appeal to buyers at each stage. Let’s dive into it:
Create Awareness at the Top of the Funnel: this is the stage where new people found out about your content. The audience at this stage is generic and not ready to buy yet. At that point, you just have to enlighten them with your staple i.e., through Listicles, Topical vlogs, Simple tutorials, or Entertaining videos. Actually, giving them a reason to get a hook for your future video.
Engage users at the Middle of the Funnel: in this stage, your YouTube viewers start to engage, learn, and grow like you. This is where you have to ignite interest in your paid content so that you form your channel’s core community. For that, you have to build a relationship with them, create discussions, and Give them a taste of what your paid content can do. For this Tutorials and Breakdowns can do a lot more!
Push users to become paid subscribers at the Bottom of the Funnel: this is where your YouTube leads decide whether or not the user subscribes to your paid content. This entire stage tracks your subscribers to your landing page which has a clear call-to-action button, links to sales pages, testimonials, or positive user comments.
Phew! That was a pretty intense guide, right? But make sure you strategize your content and prepare a marketing funnel on YouTube to earn some extra pennies.
6. Become an Amazon Influencer
Do you have a big following on YouTube but figuring out how to monetize it? If this is the case then sign-up for Amazon Influencer Program as it is the perfect option. Probably, you’re already recommending products that you use, but aren’t getting paid. In fact, you can start this as a way to earn money from your very own YouTube channel.
They will give you a vanity URL from which your subscribers shop on Amazon. After that, you as an Amazon Influencer can earn from the purchases made through this special URL. You just have to keep in mind that the affiliate link must have a deep-rooted connection with your YouTube content.
For instance, a YouTuber who talks about skincare must have a link to a dermatological store. For this, you have to create content that educates, engages, and grows your users. Like Host, a live Q and A session, showcase your favorite products in listicles, and Live unboxing for a solid review.
Therefore, if you don’t have an Amazon Influencer Program account yet, sign up for it today! This is the easiest way to start your career as an influencer.
7. Explore YouTube Red Subscribers
Did you know? YouTube Red A.K.A YouTube Premium doesn’t just offer some perks for viewers, it’s also an extra way for YouTubers to earn some extra revenue that they’ve always wanted from the deal. YouTube Premium is comparatively novel, but don’t underestimate its potential yet. As more viewers subscribe to the service, its revenue – which creators get a share of – is bound to increase.
To laugh all the way to the bank you must have to know about YouTube Premium! Basically, it’s a paid membership package that allows your followers to watch and support your content without the disruption of ads. For YouTubers, not much changes, as they will earn for content watched by non-members on YouTube along with content on YouTube Premium.
Creators are paid for YouTube Red based on how many individuals watch your content. Sounds like a difficult goal, but don’t worry! As YouTube always finds groundbreaking ways to fund creators. At present, YouTube is having a beta test for YouTube Premium, where subscribers can send free money to their must-see YouTubers. Isn’t it cool?
Are you Curious about its works? Well, every month, YouTube will add $2 worth of Super Chat credits to Premium accounts. Through those funds, watchers can send donations to creators during live streams. So, YouTubers/YouTubers-to-be just stick in what you’re doing and make some great perks out of this!
How Much Money on YouTube you can Make?
From the above strategies, you’ll know now how to earn money on YouTube! Besides this, you’re probably wondering whether you can earn enough for it to be a full-time job. Some insights are there to prove how much money you can make on average.
Google pays 68% of its AdSense revenue to the video creator. Moreover, YouTube advertisers pay an average of $0.18 per view, which means that a YouTuber can receive $3-5 per 1000 views.
Hence, your earnings depend upon various YouTube monetization strategies; whether it’s affiliate marketing or your partnership with the platform. Plus, your marketing efforts and number of subscribers also came into this loop. As with many things, the answer remains grey.
You might start out making some extra cash in a month or probably later. But for sure with enough hard work and persistence, you can absolutely make a comfortable living out of it. Also, experiment your luck with different monetization tools to find the choice that’s best for you.
Moreover, you can also leverage youtube alternatives for monetization to further diversify your income stream.
How Much Money Do YouTubers Make?
If you are one of those who are wondering how much money YouTubers make and how to become a YouTuber, then you’re in the right place. We’ll glance over some of the most popular YouTubers, all you have to do is keep reading this!
In general, professional YouTubers have multiple sources of income streams that allow them to turn their hobby into a full-time career. Additionally, this whole process of earning usually depends on two factors: first, their niche, and second, the size of their audience.
Honestly, after seeing the wages of the top-ten YouTubers by Forbes, you may contemplate a career change. Why? Let’s dive into it!
Last year, Ryan Kaji, a 9-year-old kid who took in an estimated $29.5 million between June 1, 2019, and June 1, 2020, has the highest earnings. He is the content creator of videos related to DIY science experiments and toy reviews. In the report, he had over 41.7 million subscribers, and his videos received 12.2 billion views.
Meanwhile, Jimmy Donaldson_ A.K.A Mr. Beast _was ranked as the second-highest earner, bringing in $24 million and garnering 47.8 million subscribers. Additionally, with some 3 billion views; Btw thanks to his premium productions of hilarious stunts.
Commonly Asked Questions
It is pretty challenging to make earn some greenbacks on YouTube. Because now for this, you first have 1,000 subscribers and 4,000 watch hours within the last 12 months to join the YouTube Partner Program. Then you have to make a lot of views and monitor your cost-per-view (CPV) to see how much money you earn for ads.
And don’t worry If you don’t have millions of views! One of the best ways to monetize your content is affiliate marketing. You can review products or perform a tutorial and place affiliate links in your video description. By this method, you can earn commissions on every sale and will create more cash.
There is no black-white answer that how much 1,000 views are worth. As there are factors on which it is based, like the industry you are in, how many users click on your advertisements, and the location of your country.
For instance, you could get $0 for one view and $5 for another, if that viewer clicks on a high-value advertisement. Therefore, if we apply the rule-of-thumb then probably you’ll earn $0.75-1.00 for 1,000 views while using banner ads, or $6-7 per 1,000 views if you use ads that play before your video begins. With that said, creating a YouTube channel can be a great side hustle, really!
Based on the YPP eligibility criteria, you have to have 1,000 or more subscribers to be able to monetize your channel. Once you reach that threshold your can apply for YPP and be eligible for monetization.
So, earning money on this platform is something that everyone can do! It’s not just something for those “famed” on YouTube. With persistence and the right know-how to turn subscribers into an income, you will make cash on YouTube in no time!
Running a YouTube channel is a side hustle for many! It is because there are so many techniques to earn some extra bucks through YouTube. When you first think probably as revenue would just come into your mind. But wait! There is a lot more.
So, what other income streams can you pursue? Affiliate marketing, getting big brand sponsorship, and crowd/fan funding are some of the modes to earn more money from your YouTube channel without ads.
How to Make Money on Youtube – Final Summary
According to Forbes, the highest-paid YouTuber is close to $20 million a year. Therefore, it looks easy to see why so many of you chase this seemingly bottomless well of income.
What obliges most YouTubers to create is rarely ‘money’. It’s the thought of making something for the entire world to enjoy. But ironically, that puts them under great pressure to actually make money in a content-obsessed world.
In the end, I would say that with continued dedication and patience, you can grow your YouTube channel by finding and taking advantage of the varied opportunities that best fit your channel’s niche, purpose, and financial goals.
More from Smashitbuck: Do check out my article on time management skills, inspirational quotes, and leadership qualities to improve your work life.
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