YouTube has become one of the most popular social media channels as people consume a lot of video content every day. YouTube is not just a source of entertainment but also a source of income for many people. You, too, can create a YouTube channel and earn a lot of money.
YouTube is not just the second most popular social media channel but it’s also is an income source for a section of society. This article will help you understand how to make money on YouTube – how to earn money by making your YouTube channel. Let’s check out how you can make some money with YouTube!
Ways to make money on YouTube
There are several ways in which you can make money using YouTube. To understand how to make money on YouTube, you can follow the following tips:
1. Enroll With The YouTube Partner Program
If you have been searching for how to make money on YouTube, this is one of the options. The creators can access the specialized tool that YouTube offers to create compelling and engaging content with the YouTube Partner Program.
You don’t need to become a YouTube partner to make money. You can start with setting up an AdSense account and start engaging with your audience. However, once you become a YouTube partner, several earning opportunities will open up for you.
These income streams include premium subscription fees, exclusive features like SuperChat, etc. Listed below are some simple steps in which you can become a YouTube partner:
Start with your YouTube channel by signing up as a creator on the YouTube website.
Devise a plan to make your channel viral to gain enough subscribers that will make you eligible to apply for the YouTube Partner Program. For this, you need at least 1000 subscribers and a total of 4,000 watch hours.
You will have to start your AdSense account. YouTube has a complete guide on setting up the AdSense account.
You can now try out different avenues for earning once you set up your Ad Sense account. Some of the monetization options are listed below:
(a). Ad Revenue: There is an age requirement for earning ad revenue. You must be at least 18 years old to benefit from this revenue stream. Here, you are required to create advertiser-friendly content where companies can run their ads before the actual content begins. As the number of ads increases, the revenue will also increase.
(b). Premium Revenue: In this case, you are paid a portion of the subscription fee if a premium member watches the content you upload on YouTube.
(c). Super Chat Payments: The fans pay to get featured on your chats. It would be best if you were at least 18 years old to avail of this feature.
(d). Channel membership: People can subscribe to your channel by paying an additional amount. However, to subscribe to this avenue, too, you must be at least 18 years old.
(e). Merchandising: YouTube also gives you an option to sell your merchandise. If you are 18 years old and have at least 10,000 subscribers, you can sell your merchandise through YouTube.
According to YouTube, as a YouTube Partner, your channel will be held to a higher standard. Not only must you adhere to the YouTube Partner Program’s standards, but also the Community Guidelines. Not to mention staying within the bounds of copyright legislation.
2. Set Up A Merch Store
YouTube as a platform is quite diversified and provides you with several avenues of making money. You can lift your entrepreneurial spirits and sell your merch on your YouTube channel. There is a considerable margin if you plan on selling your merch using YouTube. You can follow the following steps to start selling your merch through your YouTube channel:
You must have a clear design for your product in your mind. Your merch should act as a connection between your channel and your subscribers. Also, there are so many YouTube channels against which you will be competing. Therefore, you must make sure that your product is unique and stands out from the crowd.
Once you are thorough with what you want to build, you can get in touch with a manufacturer or supplier who will help you make the product. You can also drop ship your products through a website.
Once the product is sorted, you need to build your website.
You can avail the YouTube shelf feature to sell your products directly from your YouTube channel.
If you plan to set up a merch store and sell products through the store, you will have to promote your products using your videos. This will create a massive buzz for all of your products.
3. Make use of Sponsored Content
Sponsored content always works out well for most YouTube channels. If you become a YouTube influencer, you will earn money by creating content, and the brands will pay you to promote their brand on your videos.
The best part about sponsored content is that you will not have to share the money with anyone else. Brands reach out to influencers if they find a commonality in the target audience. You can follow the following steps to create sponsored content for your channel:
You must get in touch with a brand that you can partner with. You can try and make a perfect pitch and get them onboard. You can also take assistance and enroll in an influencer marketing platform.
Once you complete your pitch, you can close the deal. You can decide the rate based on the efforts you will have to put in while creating the video and the engagement you can get on the content.
You can tell your subscribers and followers that the post is a sponsored ad. Transparency on social media channels is a good sign and is also healthy for your YouTube channel.
4. Get into affiliate partnerships.
You can also get into becoming an affiliate partner. This way, you will encourage your followers to visit the page’s website for which you are running promotions, and you will get a share of the sale that the brand makes. It’s a win-win for both parties.
This is a very healthy kind of relationship as you will engage with the audience and make them aware of the brand, and the brand will make the required sales and profits and meet its targets.
- Read Also: How to make money on SocialGood App
There are several other ways to earn money through YouTube. You can get your fans to pay directly by using the Live Chat option. Your fans will pay you to watch your content or feature their comments on the Live Chat. This will make your consumers happy and will also keep your pocket full. You can navigate through all the options and choose what works the best for you.