How to Make Money on YouTube: 7 Effective Strategies in 2024

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How to Make Money on YouTube: 7 Effective Strategies

If you are wondering how to make money on YouTube, do not look beyond these 7 strategies to monetize your channel and your creative work.

Well, revenue from ads is the most obvious way to make money on YouTube. But it is not the only way — or, to be honest, the best way.

(Spoiler: the best way to make money on YouTube by all means.)

YouTube is part of the Internet: what 1.9 billion users enter every month. But at the same time, 500 hours of video are uploaded to the site every minute.

So you know that this article will not be about how easy it is to buy a Swiss watch with ad revenue from your YouTube view. (Although you have millions of video views, you can probably rent one. Wait, don't do it.)

Keep reading, and we will set out 7 ways to earn money with your YouTube channel, complete with step-by-step instructions.

How you make money on YouTube

1. Join the YouTube Partner Program

The YouTube Partner Program is a way for regular YouTube users to access specific features on the platform.

You do not need to be a partner to make money on YouTube (just set up an AdSense account and get enough views to deal with that), but being a partner makes it a lot easier.

YouTube Partners have access to many revenue streams: not just video ads, but YouTube Premium subscription costs, and features that affect your loyal fan wallets such as Super Chat, channel membership and sales shelf (more on this later.)

Step 1: Start a YouTube channel

Don't worry, we have some helpful guide for this. It's called 'How to create a YouTube channel.'

Step 2: Make your channel effective enough to meet the requirements of the YouTube Partner Program

To join the program, you need at least 1,000 subscribers and 4,000 viewing hours in the last 12 months.

Here are some ideas on how to get the most out of this valuable YouTube view.

Step 3: Set up an AdSense account

This is easy. Just follow the official YouTube guide for AdSense accounts.

Step 4: Explore your new monetization features

Each revenue stream has different eligibility requirements. For example:

Ad revenue: to earn revenue from ads, you must be at least 18 years old, and you must create content that is suitable for advertisers. In fact, if your videos are no longer controversial, YouTube advertisers will be free to play ads on them, and make more money.

YouTube Premium Income: When a YouTube Premium member watches your video, you receive a portion of their subscription. (This is automatic, which is nice.)

Channel Membership: In order to sell your subscription to your subscribers (i.e., your fans have chosen to pay you extra), you need to be at least 18 years old and have more than 30,000 subscribers.

Sales shelf: to sell items on the YouTube goods shelf, you must be at least 18 years old, and have at least 10,000 subscribers.

Super Chat Payments: If you want your fans to be able to pay for their messages to be highlighted in your live chats during your live stream, you must be at least 18 years old (and live in the country where this feature is provided).

Step 5: Post for ongoing updates

As a YouTube Partner, your channel will be held at the highest level, according to YouTube. You should not only follow the YouTube Partner Program Policies, but the Community Guidelines. Not to mention the fact that you live on the right side of the copyright law.

2. Sell your sales

Maybe you identify yourself as a content creator first, and secondly an entrepreneur. (Just remember that Drake also sells T-shirts.)

Plus, you're an entrepreneur first and then a video creator a second time, which means you probably already have a product, and you're designing your YouTube marketing strategy to sell it.

In any case, sales are an effective way to make money with YouTube.

Step 1: Think about and design your product

Your channel sales are designed to both represent and nurture your audience's communication with you. That means your sales should be different.

Hawaiian YouTube star Ryan Higa has unveiled his milk-based drink Ninja Melk to enhance the popularity of his comedy, Ninja Melk. While she also sells T-shirts and other items at her online store, Ninja Melk's appeal is wide enough with its own website.

Expert Tip: You may have more trading ideas than you can stock. So start by dipping your toes in water or in one. But be sure to include your audience in the decision-making process. They voted for what they wanted. Or create a buzz by offering one-time products related to a large number of subscribers.

Step 2: Source and / or build your product

In most cases, you will need a manufacturer, supplier or retailer to make and deliver your product. Some of their suppliers will bring it to you, and others will save you inventory headaches, shipping and refunds on their own.

If you are unsure where to start, check out Shopify on how to find a brick and mortar company to make your dream come true.

Step 3: Create your own store and landing page

You will need a separate website to manage the purchase. If you want to link it directly to your videos (and you do), check out the YouTube list of approved marketing sites.

Step 4: Enable your YouTube Partner Sales Shelf

YouTube Partners can also use the shelf element to sell their channel sales. If you qualify, follow the YouTube instructions to enable it.

Step 5: Promote your product in your videos

That’s where your beauty comes in. Wear or use your merchandise on your videos. Enter the viewers who bought and used it. (If we were in another forum, we might call this ‘user-generated content,’ or maybe ‘solid gold’).

And don't forget to add your store link to your video descriptions, and include end screens and cards with compulsive calls.

Expert Tip: Don't forget to say thank you. Because it is modest. But also because it is an excuse to remind people how good and famous your product is, as well.

3. Create sponsored content

You don't have to be on Instagram to be a promoter. The advantage of the #sponcon strategy is that you do not have to give YouTube a portion of your income. You negotiate directly with the product, and they pay you directly. Not surprisingly, it is a popular way for YouTube users to make money.

If you are able to cater to a wide audience and / or involved — and your content is relevant to their target market — they probably want to hear from you.

For example, YouTuber Aaron Marino, aka Alpha M, is the largest living space for men. How much? So much so that his videos describe the product relationships he has with his partners.

Step 1: Find a partner to work with

Quality is important, when it comes to co-workers. You probably already have a wish list for your dream products. Whether you are aiming for a star or creating a low profile, make sure you do your best with your product tone before posting.

Also consider signing up with an influencer marketing platform. These intermediate websites help marketing teams find the right promoters to work with. FameBit was one of the first to focus on YouTube users, for example.

Step 2: Make an agreement

According to a recent study by influencer marketing platform Klear, YouTube videos, on average, are the most expensive type of content sponsored by products that can be purchased from promoters. Basically, YouTube promoters are able to charge more for their videos than they would for Instagram stories or Facebook posts, because video is too expensive to produce.

Although your rating will vary in the size of your audience, engagement and relationships may be your partner, know your value before signing a contract.

Step 3: Display the details of your #supported ad

Sponsored content is advertising. That means you need to make sure you comply with Google's advertising policies. The FTC (U.S.) and the ASA (U.K.) both have guidelines you should be aware of, too, if you are American or British.

Openness is good for your legal life, but also for your relationships with your audience. YouTube has a visual display feature to make sure your audience knows that you are advertising them.

4. Be a co-worker

If your YouTube audience is honest and involved, but not yet very active, look for companies that invest in affiliate marketing.

YouTube business-linked users encourage their viewers to visit the product's online store or specific product pages. Then they get a percentage of their own sales - guess what - the relevant links are.

In terms of setup and editing, managed collaborations are like sponsored content deals, so follow the steps from point # 3 to get started.

5. Get your fans to pay you directly

This YouTube monetization strategy includes a few different revenue streams, but they all have one thing in common: you should make it easy for your fans to show their appreciation for their credit card.

Step 1: Hold live chats where people can use Super Chat

In early 2017, YouTube changed its previous fan support feature to Super Chat. This is a feature only available to YouTube partners while streaming live.

In fact, your viewers can make their comments more visible — they are highlighted and pinned for a certain amount of time — depending on how much they pay for the live chat.

Step 2: Encourage your fans to become channel members

YouTube offers the ability to let your viewers pay you to become members of your channel. When exchanging, they receive custom emojis, badges, and exclusive access to members only as live chat with you.

For example, Wintergatan is a Swedish group that replicates detailed marble machines and submits videos on its YouTube channel. They always thank their channel members for their videos. They also make it clear what income from membership supports:

You will need to create a promotional strategy to convince people to become members, which may or may not include several categories of membership. Like Super Chat, this feature is only available to YouTube partners.

Step 3: Encourage your fans to sign up for YouTube Premium

This step is the last one in our list of strategies because it only benefits your channel indirectly. That being said, when members of YouTube Premium watch your channel, you get a discount on their subscription. (So ​​do all the other channels they watch.)

6. Use crowdfunding

Asking for donations online is now commonplace. Whether you are looking to build a steady income with a collection of small monthly donations, or looking to fund a personal, channel-related project, mass sponsorship for how many YouTube users.

Step 1: Set up a crowdfunding account

YouTube has a list of authorized crowdfunding sites to choose from.

For continued support Patreon is a top decision. At the moment, sites like GoFundMe or Kickstarter are best for one-time campaigns to get a new microphone, or a new laptop, or a new ... bandwagon.

Even local names like Walk Off the Earth or Veronica Mars (okay, she's a fairy tale) have used Patreon to fund their projects, be it music videos or long films.

Step 2: Promote your campaign on your videos

Define your specific goals so that people know exactly what to expect when you succeed.

Also, offer attractive accumulating benefits as your fans choose how much they want to donate.

For more information and inspiration, see this detailed guide to making money for more people.

Step 3: Go beyond YouTube

A successful campaign is a story with many forums. We have tips on how to promote your YouTube channel (and by extension, your mass helping campaign) everywhere.

7. License your media content

When a video is broadcast, all media outlets want to contribute to the copy so that it can be played back to its audience. Fortunately, established media companies are well aware that they need to pay for what they use. And voila, you have found another way to make money on YouTube.

As a content creator, licensing your most successful media career can be as simple as ensuring that you are easily accessible.

Step 1: Keep your contact details updated on your About page

You never know when the lightning will strike. Even if you do not have a business manager, set up a regular email account that you can identify if you have business questions.

Step 2: Sign up for the video rights market

Jukin Media is a good place to start. Even if you do not have an infected video like the wife of the Chewbacca mask (see below), media outlets often need timely images to complete their reporting.

Jukin, for example, has a complete catalog of ‘news-appropriate’ videos to donate, in case you have special photos of a major natural disaster, a plane crash, or a locust plague.

How much money can you make on YouTube?

Sadly, this ancient question has an intriguing answer: it depends.

The sky is the limit, as the story of 9-year-old YouTuber and millions of Ryan Kaji proves. But getting into a 7-character space takes a lot of time, consistent work and luck.

YouTube revenue is heavily dependent on AdSense. In simple terms, YouTube users are paid for each ad view on their channel. But rates vary across areas, demographics, and even industries (software ads may have higher CPM than, for example, clothing ads).

On average, YouTube users make between $ 3 and $ 5 per 1,000 video views per AdSense. If your channel reaches a lot of people, this can accumulate good revenue. It is not uncommon for big creators to earn more than $ 200,000 a month with AdSense alone.

But even if your channel is trending and AdSense revenue fills your bank account, remember that YouTube's reputation depends on many factors, some (or more) of which are beyond your control - the YouTube algorithm may change, as may viewers they are. and requirements.

To ensure that the money you make on YouTube turns into a healthy and consistent currency, follow our 7 tips and opt out. Sales, name deals and lots of funding can make you money even if, for whatever reason, your AdSense payments go down.