YouTube is the 2nd biggest search engine in the world. Yes, it is a search engine. People are using YouTube to find things; watch and learn, and more!
Making money on YouTube is like a social media influencer.
There are 3 ways you can make money on YouTube:
- As an advertiser: You can use YouTube to promote your business on YouTube.
- As an ad platform: You get paid money when you you have enough views (others paid content)
- As a lead or sales generator: You can use YouTube as lead or sales generator.
Setting up your channel on YouTube is free. You just need a Google account. From there you can setup your own YouTube channel
The work comes in when you need to decide who your target audience is and what they want. This is a very important first step.
The second is creating content. In this case; videos.
There are many different types of videos you can create. Some involves more work than others.
To get paid by YouTube; you need to have 4000 hours watched on your channel, and more than 1000 subscribers in the last 12 months (these guidelines could change anytime). You do not automatically get awarded access to YouTube partner program. You do need to apply for it.
Join the YouTube Partner Program and earn money from ads
The first revenue stream you’ll likely explore is ads. Whether you want to earn money on YouTube without creating videos or as a content creator, joining the YouTube Partners Program and setting up monetization is a vital step. You can apply for monetization once you’ve hit 1,000 subscribers and 4,000 watch hours over the past year.
How to enable monetization on YouTube
- Sign in to the YouTube account you want to monetize.
- Click the icon for your account in the top right corner.
- Click YouTube Studio.
- In the left menu, select Other Features > Monetization.
- Read and agree to the YouTuber Partner Program terms.
- Create a new AdSense account or connect an existing one to your channel. (You need an AdSense account to get paid.)
- Set your monetization preferences.
Once that’s done, head back to the dashboard and click the Analytics tab on the left side. From there, you’ll need to choose Revenue from the tabs at the top, then scroll down to the chart Monthly Estimated Revenue to get an idea of your predicted revenue.
Sell products or merchandise
There are plenty of products to sell that can help you make money through your YouTube channel. Selling merchandise—t-shirts, coffee mugs, tote bags, snapbacks, you name it—has a benefit beyond revenue.
Merchandise increases your exposure by putting your online brand and personality out into the offline world and deepens the relationship between you and your fans as they literally “buy” into what you’re doing.
Crowdfund your next creative project
When money is all that stands between an idea and its execution, crowdfunding is a good way to make it happen.
Whether you need help buying better equipment, hiring actors, or covering other production costs, you can call upon your own audience and the crowdfunding community to pitch in if your idea is compelling enough.
Many successful crowdfunded creative projects tend to offer a sneak peak or “trailer” that gets people excited, so consider shooting a video explaining your project or offering a taste of what it’ll be like, such as this popular Kickstarter for Kung Fury, a short film paying homage to ’80s action movies.
Let your audience support your work through “fan funding”
Similar to crowdfunding a project, you can also set up “fan funding” streams to source donations from your audience.
As a creator, you’re contributing your voice to the internet without forcing your audience to pay for admission. So, if you’re offering good content, your audience might be inclined to support you on an ongoing basis.
Many fan funding platforms offer creators another place for people to discover their content and a way to engage their most loyal audience and reward them for their support.
License your content to the media
If you happen to create a viral video with mass appeal—say, a funny clip featuring your dog—you can license your content in exchange for money.
TV news outlets, morning shows, online news sites, and other creators might reach out about rights to use your videos if they happen to go viral.
You can also list your videos in a marketplace, such as Juken Media, where your content will be easier for the right people to find and purchase.
Work with brands as an influencer or affiliate
Influencer marketing is going to be one of the advertising bedrocks of the next decade. Gary Vaynerchuk
Brands are investing more and more in influencer marketing, spending their typically large advertising budgets on influencers who’ve already won the loyalty of their audiences.
This creates a massive opportunity for you as a creator if you can negotiate the right deals.