The rise of social media usage has opened many doors for content creators; hence, the industry is currently facing multiple opportunities. Knowing how to monetize it will be an advantage if you are in this industry or trying to break into it.
Most people know that YouTubers earn money through ads. But there are several ways to monetize your channel.
This article will tackle the 7 ways for you to make money on your YouTube channel.
- Be part of the YouTube Partner Program
The usual way of monetizing the Youtube channel is engagement in Youtube Partner Program.
- The main requirement is to reach a minimum of 1000 subscribers and accumulate 4,000 watched hours in the past 12 months.
- Once you’ve reached the threshold, you can set up your AdSense account to enjoy YouTube’s features that focus on the monetization of an account.
So, it is advisable to upload more quality videos during that 12-moth period to achieve the required subscribers and hours, but make sure you are not violating any Community Guidelines.
- Learn about Affiliate Marketing
Another way to monetize the channel is to connect or be an affiliate marketer to specific companies or brands. This is the most practical and accessible way, especially if you are fond of giving recommendations.
- This mechanism works by searching for a company or a seller willing to be featured on your videos.
- Make a review of the product, and demonstrate its features/use so that it may persuade viewers to try it.
- Custom links to the products are created and posted in the description.
Once a viewer purchases a product through your link, you will earn a commission on the sale transaction.
You should always provide honest reviews and feedback to build credibility and gain your audience’s trust.
- Earn through brand deals/partnership
Landing a brand deal is also an effective way to get paid on Youtube. This is how sponsorship happens and works; companies interested in your audience will most likely sponsor your videos in exchange for promoting their products.
- Like affiliate marketing, you can reach out to companies that may want to be mentioned or featured in your videos in exchange for a specific amount of money or products. There are instances when brands are the ones reaching out to influencers.
- Depending on the agreement, they might have some conditions on how you promote their brand.
Unlike affiliate marketing, this one doesn’t necessarily “require” purchases for you to earn money.
- Sell your Merch
If at some point you have thought of having a business, this one might also work for you.
- Of course, you must think about what product/s you want to sell. Make sure these product/s or merch represent you as an influencer and resonate with your followers. The audience is more likely to purchase a product if it has some sort of emotional attachment.
- Plan the execution. Look for a supplier; consider the price, quality, and shipping. Figure out the process from producing to delivering the product to the buyers.
- Try merchandise shelf, a feature you can enjoy under YouTube Partner.
- Promote your product/s through your videos. Put them in the background, use them and show your followers that you are patronizing your product. You can also give discounts, raffles, or games mainly featuring your merch.
Though this method is a bit harder than pitching the products of other companies, you will be able to gain more proceeds since you are the sole owner. You must consider the tastes and preferences of your targeted audience to catch their attention and persuade them to make a purchase.
It can be overwhelming when you try to handle your channel and business simultaneously. Good thing you can ask for help and hire a Virtual Professional.
- Get paid by your audiences’ support
Youtube is a fan-based site just like any other social media site. Supporters are a significant source of income in this type of industry. Try encouraging your audience to avail or subscribe to different features such as:
- Channel Membership – subscribers can pay you for exclusive membership in your channel, wherein they can enjoy custom emojis, badges, and other features that are only limited to those subscribers.
- Super Chat – viewers can also pay for their comments to be featured or highlighted for a specific amount of time which depends on how much they paid.
- YouTube Premium subscription – You can also earn some money when your viewers or followers watch your videos while using YouTube Premium.
- Utilize Crowdfunding
To keep the channel alive, content creators can use the crowdfunding method of monetization. This is a great approach for a project-based campaign that intends to help others or your chosen charity. Although you may not benefit from this direction, it can boost your image, which later on may result in monetary value.
- Viewers can send donations and gifts as a way of supporting your project.
- In addition, viewers can pay extra charges or additional costs for special features such as a chance to have a meet and greet, a personal video greet coming from the creator, exclusive access, and other perks and benefits.
There are different sites that you can use to start your campaign. Remember to be careful and choose the approved sites. Also, don’t forget to promote the said project on your channel.
- License your content to the media
Every video you upload is a masterpiece and an artwork, which is why it is better to have a trademark and copyright for your creations. Licensing your content on media outlets is another way to earn money, especially when a video goes viral and hype. In that case, news media outlets or interested users will pay to get a copy for them to use the tape.
For your free, no obligation, consultation, click here.