YouTube is half the internet, around 1.9 billion users logging in every month. But at the same time, 500 hours of video are uploaded to the site every minute. So, you already know this article is not going to be about how easy it is to buy a Swiss watch with the ad revenue from your YouTube views, because it's not that easy. Gaining subscribers, views, likes and popularity on YouTube is extremely hard and it will takes a lot of time and effort from you if you want to make your dream a reality. Let's dive into this blog post and learn how everyone can make some money using YouTube.
1. Become a YouTube Partner
The YouTube Partner Program is how regular YouTubers get access to special features on the platform. You don’t need to be a partner to make money on YouTube, just setting up an AdSense account and getting views is enough to handle that, but being a Partner makes it a lot easier.
YouTube Partners have access to multiple income streams, not just ads, but YouTube Premium subscription fees and features that tap your fans’ wallets directly like Super Chat, channel memberships and the merchandise shelf. To join the program, you need a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months. After that, you can set up your Ad Sense account and register to the Google Ads program.
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2. Sell your own merchandise
Maybe you identify as a content creator first, and entrepreneur second. Just remember that even Drake sells t-shirts via links on his YouTube channel. Alternately, you’re an entrepreneur first and video creator second, which means you probably already have a product, and you’re designing your YouTube marketing strategy to sell it.
Either way, merchandise is a viable way to earn money from YouTube. Merchandise for your channel is meant to both represent and feed your audience’s connection with you. That means your merch should be unique. Hawaiian YouTube star Ryan Higa launched his milk-based energy drink Ninja Melk to leverage the popularity of his viral comedy, Ninja Melk. While he also sells t-shirts and other merch from his online shop, Ninja Melk’s appeal is broad enough it has its own website.
In most cases, you’ll need a manufacturer, supplier or wholesaler to make and deliver your product. Some suppliers will deliver it to you, and some will spare you the headaches of inventory, shipping and returns by handling it themselves.
Wear or use your merch in your videos. Feature viewers who have bought and are using it. (If we were on another platform, we might call this ‘user-generated content,’ or possibly ‘solid gold’). And don’t forget to add your store’s link to your video descriptions, and include end screens and cards with compelling calls to action.
3. Create sponsored content
You don’t have to be on Instagram to be an influencer. The advantage of the sponcon strategy is that you don’t have to give YouTube a cut of your earnings. You negotiate directly with the brand, and they pay you directly. No wonder it’s a popular way for YouTubers to make money.
If you can offer brands a large and engaged audience and your content is relevant to their target market, they probably want to hear from you. For instance, YouTuber Aaron Marino, a.k.a. Alpha M, is big in the men’s lifestyle space. How big? So big that even his videos that explain his brand partnerships have brand partners.
Quality is important, when it comes to the names you work with. You probably already have a wish list of dream brands. Whether you’re aiming for the stars or building yourself up grassroots-style, make sure you perfect your brand pitch before you send it. Also consider signing up with an influencer marketing platform. These are intermediary websites that help marketing teams find appropriate influencers to work with. FameBit was one of the first to focus on YouTubers, for instance.
According to this recent study by influencer marketing platform Klear, YouTube videos are, on average, the most expensive type of sponsored content brands can buy from influencers. Basically, YouTube influencers are able to charge more for their videos than they would for Instagram Stories or Facebook posts, because video is just more expensive to produce.
4. Get your fans to pay you directly
This strategy for making money on YouTube includes a few different 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.
In early 2017, YouTube replaced their previous Fan Funding feature with Super Chat. This is a feature that is only available to YouTube Partners while they live stream. Essentially, your viewers can make their comments more visible and they’re highlighted and pinned for a set amount of time depending on how much they pay in the live chat stream.
YouTube offers the ability to let your viewers pay you to become members of your channel. In exchange, they get custom emoji, badges, and access to members-only exclusives like Live Chats with you. For instance, Wintergatan is a Swedish band that also makes elaborate marble machines and posts videos about it to their YouTube channel. They regularly thank their channel members in their videos.
5. Use crowdfunding on an ongoing or one-off basis
Soliciting donations online is now commonplace. Whether you’re looking to build ongoing revenue from a pool of small monthly donations, or looking to fund a personal, channel-related project, crowdfunding is how many YouTubers make money.
YouTube has a list of approved crowdfunding sites to choose from. For recurring funding Patreon is a top choice. Meanwhile, sites like GoFundMe or Kickstarter are best for one-off campaigns to get a new mic, or new laptop. Even household names like Walk Off the Earth or Veronica Mars have used Patreon to fund their projects, be they music videos or feature-length films.
Detail your specific goals so that people know exactly what they can expect when you’ve succeeded. Also, offer enticing perks that stack as your fans choose how much they want to donate. When a video goes viral, every news outlet wants to get their hands on a copy in order to replay it for their audience. Fortunately, established media companies are well aware that they need to pay for what they use. And voila, you’ve got yourself another way to make money on YouTube.
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