Every day, the world watches 1 billion hours of YouTube videos. The massive popularity of the platform has transformed it from an entertainment channel to a powerful monetization tool for businesses and personal brands.

So, if you are interested in making money on YouTube, now is a great time to start. We recommend creating a website to host your videos and create a home for your brand, and then share your content on YouTube. This will not only expand your reach, but it will also help you earn money from your fans In this article, we’ll look at seven of the most effective ways to monetize your YouTube videos.

YouTube Monetization Basics

Before we dive into the best ways to make money on YouTube, we wanted to cover some facts about how YouTube works and some overarching strategies that will be relevant no matter what monetization method you choose.

To get started on YouTube you need to create a channel to host your videos. Uploading video content will not automatically earn you money. So, make sure you enable monetization in your settings when configuring your account This will give you the possibility to make money from your YouTube videos down the line. At that point you can decide which monetization strategy to work with.

Another important thing to note is that you can earn money from your YouTube channel in addition to millions of subscribers. One of the best ways to do this is to understand your audience and then target them with relevant content. Try to step into the shoes of your customers or those you want to follow you in the future.

Once you have a solid understanding of your audience, your next goal should be engagement. Think deeply about what kind of content they will be interested in, what will be most useful to them, and how you can prompt visitors to click, comment or subscribe. Only then can you create videos that succeed with one of the following monetization methods

How to make money on YouTube:

Become a YouTube Partner

Selling merchandise

Crowdfund

Use fan funding

Media license

Create sponsored content

Become an affiliate marketer

01. Become a YouTube partner

Once you start a YouTube channel, you can join the YouTube Partner Program to get access to special monetization features, including the ability to serve ads, display merchandise, and more.

While joining is completely optional, it gives you access to various monetization channels, including premium subscription fees and merchandise shelves. Here’s how to become a YouTube partner:

Step 1: Follow the instructions

When you first apply to the Partner Program, YouTube will review your channel for eligibility. For this reason, you should familiarize yourself with the platform’s monetization policies and make sure your content complies with the rules whenever you upload a YouTube video.

Your content will be under constant review, even as you grow your channel and start making money from it. If you’re accepted as a partner, keep tabs on the latest compliance policies to make sure you’re up-to-date.

Step 2: Meet the YouTube Partner Program requirements

To join the program, you must be a successful YouTuber. The criteria for joining, as of 2020, is that your channel has reached 4,000 watch hours and 1,000 subscribers within the last 12 months. Only once you meet or exceed these numbers can you apply to become a YouTube Partner.

Step 3: Apply to join the program

If you meet the necessary requirements, you can submit an application to join the program by following these steps:

Go to the top right of the YouTube homepage. Click on your account icon and select Creator Studio.

On the left, click Channels. Then, select Status and Properties.

Under the box that says Monetization, click Activate.

Agree to the YouTube Partner Program Terms.

Step 4: Set up AdSense

As part of the application process, you’ll need to set up an AdSense account linked to your profile to ensure you’ll earn and get paid for your videos. Note that you can only have one account and multiple channels can be linked to the same account.

Step 5: Review

Once you apply to become a YouTube partner and set up an AdSense account, your channel will be placed in a queue for review. At this point, both automated systems and humans will check your channel for full compliance with the guidelines

Step 6: Explore your monetization options

If you’ve been accepted by YPP, congratulations! It’s time to set up your ad preferences and enable monetization.

You can choose from a wide range of YouTube monetization options, but keep in mind that they each have different eligibility requirements:

Ad revenue: Earn money by including display, overlay or video ads next to your content To do this, you must be at least 18 years old or have a legal guardian who agrees to handle your payment. Your content must meet advertiser-friendly content guidelines.

Channel Membership: Offer special benefits to channel members who make monthly recurring payments. This requires you to be at least 18 years old and have more than 30,000 subscribers

Merchandise Shelf: Display official brand merchandise on your watch pages for your fans to browse and purchase. For this option, you must be at least 18 years old and have more than 10,000 subscribers.

Super Chat and Super Stickers: Earn money from fans who pay to have their messages highlighted in the chat stream. You must be at least 18 years old and live in a country where Super Chat is available.

YouTube Premium Earnings: A YouTube Premium subscriber receives a portion of their subscription fee when they view your videos.

02. Sale of Merchandise

Another way to make money on YouTube is by selling merchandise. You can offer products you already sell on other platforms or you can create a new collection based on your channel’s content. Remember that you’re more likely to make sales if your videos already have a fan following, so focus on building your popularity before you start producing such products.

Step 1: Design your product

Your merchandise will represent your brand, appeal to your target audience, and build a community around your channel. When you dream up your products, think of something relevant to your niche that your audience will be interested in Remember that you can check your YouTube analytics to get a better understanding of the people interested in your content

For example, if your channel is about makeup or beauty, you might want to sell branded cosmetics or makeup bags. On the other hand, if you’re a YouTube fitness instructor, you might consider selling branded fitness equipment and energy bars. You can poll your audience to ask them what kind of products they are most interested in.

Step 2: Source and build your product

Now, it’s time to bring your product ideas to life. You will likely need a manufacturer, wholesaler or retailer to manufacture your products and deliver them to you. You can also try dropshipping, a method by which manufacturers, wholesalers or retailers ship products directly to customers.

Whichever method you choose, be careful not to overstock in the beginning. Instead, start with just 1-2 products and produce them in small quantities. That way, you’ll have time to gauge their popularity and predict how many people will buy.

Step 3: Start an online store

To manage transactions, you need to create an online store. It will allow you to manage end-to-end fulfillment, accept secure online payments and more Having your own professional eCommerce site will also boost your brand credibility while providing a dedicated platform for your visitors to browse your merchandise.

Step 4: Launch your merchandise shelf

If you’re a YouTube partner, you can also take advantage of YouTube’s built-in merchandise shelf. This allows you to display up to 12 official branded products on your channel’s video page so you can showcase the items to your audience.

Step 5: Promote the product in your YouTube video

Once you’ve created your products and set up a website, spread the word by promoting them in your videos. Think of creative ways to present the merchandise to the audience, such as wearing or using it or featuring customers with your product.

End your videos by reminding users to like, subscribe and check out your website You should also add a link to your online store in your description section so that users can seamlessly navigate to your website and make a purchase.

03. Crowdfunding

Crowdfunding is the practice of raising money from a large number of people, whether friends, family or third parties interested in your project. If you’re looking for a monthly income or a one-time donation to jumpstart your efforts, this is a viable option for making money on YouTube.

Step 1: Join a crowdfunding site

First, you need to join a crowdfunding platform. Check out YouTube’s list of approved crowdfunding sites for different options. Some of the most well-known include:

Kickstarter

Indiegogo

GoFundMe

Angel.me

Crowdfunder

Keep in mind that some platforms are best for raising money for one-time projects, while others help you raise long-term funds. Whatever your choice, make sure to choose a platform that aligns with your needs.

Step 2: Promote your crowdfunding effort

After you create an account, you need to raise awareness of your campaign. This is where your YouTube channel comes in. You can use your video to tell the story behind your project or brand. Create interest, excitement and suspense by keeping your fans up-to-date on your fundraising progress. Also, attract donors by providing them with shout-outs, exclusive content or free merchandise – depending on the amount of their contribution.

To increase awareness, combine your YouTube videos with other social media marketing strategies Post about your campaign on your Instagram, Facebook and Twitter accounts and include links to both your YouTube video and crowdfunding page. At the same time, you can increase the visibility of your content on Google by optimizing your YouTube SEO.

04. Use Fan Funding

Another option to make money on YouTube is fan funding. While crowdfunding platforms target the general crowd for donations, fan funding specifically raises funds from your audience.

Step 1: Join a fan funding platform

You can start with fan funding by joining a dedicated platform. One of the most popular is Patreon, which provides tools for content creators to get recurring, long-term support from their fans.

Another option is to do fan funding directly through YouTube using YouTube’s built-in features. For this you need to become YouTube partner first. As a partner, you can collect money by offering channel subscriptions, which take the form of a join button directly below your YouTube video. By clicking this button, fans will have the option to provide regular support in exchange for benefits such as custom badges, custom emojis, and exclusive content.

Additional YouTube features built into the Partner Program include Super Chat and Super Stickers, which allow fans to pay you in exchange for pinned comments and animated graphics, respectively.

Step 2: Promote your fan funding efforts

To run a successful fan funding campaign, you need to spread the word to your audience so they have the opportunity to contribute. End your videos by politely inviting viewers to support your work

05. Media License

Most content doesn’t go viral. When it does, however, many news outlets want a copy so they can replay it to their audience. In this case, you can make money by licensing the media and charging a license fee for permission to use it.

Step 1: Put your contact information front and center

There is no real formula for creating viral content. It is often a matter of strong marketing strategies and opportunities. If you want to create a viral video, the first thing you need to do is make your contact information easy to find This will improve the likelihood that news outlets will reach out and offer payment in exchange for a licensed copy.

Create an email account with your YouTube channel name and place it on your website and in the description section of your YouTube channel. Explain this email address with a clear and direct statement, eg: For business enquiries, please contact [email address].

Step 2: Join a video writing marketplace

You can get paid to list your videos on a video rights marketplace This makes it easy for media professionals to find and purchase your content. For example, Zookin Media is a video rights marketplace that stores your files in their content library and sends them to news channels, advertising agencies, and other companies. You will earn money if these companies decide to use your content.

06. Create sponsored content

If your channel gains traction, you can become an influencer and earn money on YouTube with sponsored content. Once you have a large and engaged following, you may be able to profit by endorsing branded products.

Step 1: Find a brand to sponsor

As you grow your YouTube subscribers, brands may start reaching out for a collaboration. When this happens, it’s a good idea to research brands and their products before promoting them on your channel. Support products you can wholeheartedly recommend to fans so you avoid compromising the quality of your content.

If you have a specific brand in mind that you want to sponsor, you can reach out to them yourself and explain how they will benefit from working with you. For example, you can tell them why your target audience is relevant, how many people subscribe to your channel, and how much engagement your videos get.

You can also find brands by joining influential marketplaces like Grapevine Logic, Famebit, Channel Pages and CrowdTap. These are some of the dominant companies

Step 1: Find a brand to sponsor

As you grow your YouTube subscribers, brands may start reaching out for a collaboration. When this happens, it’s a good idea to research brands and their products before promoting them on your channel. Support products you can wholeheartedly recommend to fans so you avoid compromising the quality of your content.

If you have a specific brand in mind that you want to sponsor, you can reach out to them yourself and explain how they will benefit from working with you. For example, you can tell them why your target audience is relevant, how many people subscribe to your channel, and how much engagement your videos get.

You can also find brands by joining influencer marketplaces like Grapevine Logic, Famebit, Channel Pages and CrowdTap. Some companies in this influential marketplace will give away free products in exchange for sponsorship, while others will offer payment.

Step 2: Create branded content

Once you partner with a brand, there are several ways you can promote them on your channel to bring in revenue For example, you can create entire videos focused on the brand or include products in other video content. Many beauty influencers, for example, sponsor beauty products as part of an extensive makeup tutorial.

07. Become an affiliate marketer

Another option is to sponsor products and brands with affiliate marketing. As an affiliate marketer, you get a special link on a company’s website that leads back to your page. When people buy from the company using that link, you get a commission from the sale.

Since the brand only pays you when you make a sale – instead of just paying you to recommend their brand – you don’t need a large fanbase to get started. Here’s how to do it:

Step 1: Join an affiliate program

There are various affiliate programs that you can join. A popular option is Amazon Associates, which is a good choice for beginners in affiliate marketing and offers up to 10% commission. Other big brands like Target and Bestbuy also have affiliate programs.

For even more options, check out affiliate marketing platforms such as:

CJ Affiliate

Rakuten Ads

ShareASale

effect

By using these platforms, you will be able to connect with different brands

How much money can you earn on YouTube?

Now that you know how to make money on YouTube, you’re probably wondering if you can earn enough to make it a full-time job. These statistics provide some insight into how much YouTubers earn:

Google pays 68% of their AdSense revenue to video creators. This means that for every $100 an advertiser makes, Google will pay you $68.

YouTube advertisers pay an average of $0.18 to view their ad.

This means a YouTube channel can earn $3-5 per 1000 video views on average.

The amount you earn from other YouTube monetization strategies – whether it’s selling merchandise or creating affiliate content – ​​depends on your marketing efforts and the number of fans you have. As with many things, the answer is not black-and-white. You can start earning some extra cash on the side – and later, with enough hard work and persistence, make a comfortable living out of it. We recommend experimenting with different monetization options to find the one that’s best for you and will earn you the most money