Wondering how to make money on YouTube? Don’t worry as this post will show you the best strategies for monetizing your YouTube channel and your creative work.
For some people, YouTube is a site where they can spend many hours watching videos, product reviews, etc but for others, it’s a way to make money.
You might have seen that so many YouTube stars have millions of subscribers and are earning a great deal but becoming a professional YouTuber isn’t easy, you will have to hustle to get started and there’s no guarantee that it’ll pay off.
So, if you are looking to make quick money, you might consider other options as YouTube is not a site where you just get started and start earning immediately. However, if you are already a video creator and are willing to put in some extra work, you might be able to make money on YouTube.
Table of Contents
How to Make Money on YouTube
1. Join the YouTube Partner Program
To make money on YouTube, the first step to take is by joining the YouTube Partner program. Once you become a YouTube Partner, you’ll have access to multiple streams of income not just ads but YouTube Premium subscription fees, and features like Super Chat, channel memberships, and the merchandise shelf (we’ll see more of these later).
However, to become a YouTube partner, you must meet the following requirements:
- You must reside in an eligible area
- You need more than 1,000 subscribers
- Your videos must abide by YouTube’s advertising guidelines and must have over 4,000 valid public watch hours within the last 12 months
- Set up an AdSense account – follow YouTube’s official guide to AdSense accounts to easily set up your AdSense account.
Monetization features on the YouTube Partner Program
Each monetization channel has different eligibility requirements for example:
- Ad Revenue: You must be at least 18 years old to earn ad revenue and you must create content that’s advertiser-friendly. So, if you create less controversial videos, YouTube advertisers will be comfortable running ads on them, and thus you make more money.
- Channel Memberships: You need to be at least 18 years old and must have over 30,000 subscribers in order to sell channel memberships to your subscribers.
- YouTube Premium Revenue: You’ll get a portion of a YouTube Premium member’s subscription fee if the Youtube Premium member watches your video.
- Super Chat payments: For your fans to be able to have their messages highlighted in your live chats during your live streams, you must be at least 18 years old and must live in a country where the feature is offered.
- Merchandise Shelf: To be able to sell merch from YouTube’s merchandise shelf, you must be at least 18 years old and must have about 10,000 subscribers.
2. Sell your own products or merchandise
There are many products to sell that can help you make money via your YouTube channel. Making and selling merchandise like tote bags, t-shirts, coffee mugs, snapbacks, etc, has a benefit beyond revenue.
Merchandise not only increases your exposure by putting your online brand and personality out into the offline world but also deepens the relationship between you and your fans as they literally “buy” into what you
So, how do you go about this?
- Firstly, imagine and design your product: Merchandise for your channel is meant to both represent and feed your fan’s connection with you – meaning your merch should be unique.
- Secondly, Find and/or build your product: In most cases, you will need a manufacturer, supplier, or wholesaler to make and deliver your product. But if you are not sure where to start, you can check out Shopify’s post on how to find a manufacturer or supplier for your product idea.
- Next, create your shop and landing page: You will need a separate website to handle purchases. But if you want to link it directly from your videos, visit YouTube’slist of approved merchandise sites.
- Enable your YouTube Partner Merchandise shelf: As a YouTube partner, you can use the merchandise shelf feature to sell your channel’s merchandise that’s only if you are eligible.
- Lastly, promote your product in your videos: Wear or use your own merch in your videos as well as feature viewers who have bought and are using it. Also, add your store’s link to your video descriptions and include end screens and cards with compelling calls to action.
3. Use product placement and video sponsorship
Many companies might be interested in your channel’s audience and might want to sponsor your videos or offer your product placement deals in exchange for a shout-out. You will likely get paid on a per-sale basis or in commission
Visit affiliate marketing sites like ClickBank, ShareASale, and CJ Affiliate and search for possible corporate partners. Before signing up, make sure you are willing to vouch for the company and products you are selling.
You must notify YouTube by ticking the “video contains paid promotion” box in the advanced settings tab
of your video manager if you do have an endorsement or product placement in a video.
4. Turn to crowdfunding
There are two main types of crowdfunding i.e. recurring and project-based. Recurring crowdfunding allows contributors to pay a specific amount on a regular schedule. You would want to maximize this type of funding in order to turn your channel into a substantial income stream.
If you have an idea for a project that needs financial support, a project-based crowdfunding campaign is a way to go.
YouTube has a list of approved crowdfunding sites to choose from. If you are going for recurring funding, Patreon is a top choice while sites like GoFundMe or Kickstarter are best for project-based crowdfunding campaigns.
After signing up on a crowdfunding site, promote your campaign in your videos i.e. detail your specific goals so that people will know exactly what they can expect when you’ve succeeded.
5. Get your fans to pay you directly
This money-making strategy on YouTube includes various income streams but they all have one thing in common – you have to make it easy for your fans to show their appreciation with their credit card. Here’s how you can go about it:
- Host live chats where people can use Super Chat: Super Chat is a feature available only to YouTube Partners while they live stream. Your viewers can make their comments more visible when they highlight and pin their comments for a set amount of time depending on how much they pay – in the live chat stream.
- Encourage your fans to become channel members: YouTube offers the ability to allow your viewers to pay you in order to become members of your channel and in exchange, they’ll get badges, custom emoji, and access to members-only exclusives such as Live Chats with you.
- Encourage your fans to become YouTube Premium subscribers: When YouTube Premium members watch your channel, you get a cut of their subscription fee.
6. License your content to the media
If you’ve created a video that went viral and it’s appealing to people, you can license your content in exchange for money.
TV news outlets, online news sites, morning shows, and other creators might reach out about rights to use your videos if they happen to go viral.
Also, you can list your videos in a marketplace like JukenMedia where the right people will find and buy your content easily.
Knowing how to make money on YouTube is not as difficult as it may seem. There are many ways you can make money on YouTube as mentioned above. You can either become a YouTube Partner and make money from ads or sell products or merchandise.
Just find a strategy that works for you and start making money on YouTube.