The 7 Effective Strategies To Make Money On YouTube.
Now a day, YouTube is the best platform for digital and creative creators to make money. In this article, we discussed how a YouTuber makes money on YouTube.
YouTube has become one of the most trending places to gain popularity through content creation, teaching, making funny videos, sharing recipes, and so many other things that are of interest to different groups of people.
Most of these artists otherwise, known as “YouTubers”, are often known to make money from their YouTube channels, and we’re often curious how. It may come to you as a shock, but YouTubers earn money through their channels.
You may just start a YouTube channel for fun or share your views, talent, and content with the world, but it may come to you as a surprise that you can earn from it, as well.
However, it may not be the “easiest way to make money”, but it’ll definitely help you earn ample money if you know the tricks.
Let’s see how YouTubers earn money through these 7 effective ways as you read further.
1. The YouTube Partner Program
The YouTube Partner Program is the main earning way for a YouTuber. It gives you greater access to some advanced YouTube features. It gives you access to the creator’s support system, copyright match tool, and its monetization features. Being a partner will also allow you access to its various income streams.
Am I Eligible to be a partner?
Although it was a hefty task before becoming a partner, it is pretty simple nowadays. Anyone who has a good-standing account on YouTube can become a partner, allowing Google to add a few advertisements between your content, helping them earn money, and being a partner helps you receive a certain percentage too. Nevertheless, there are a few criteria that distinguish this feature-
- Abide by all the Monetization Policies
- Being in the region where the YouTube Partner Program(YPP) is available
- Have more than 4,000 decreed viewing hours in a year
- Have at least 1000 subscribers
- And have a linked AdSense Account
How to become a YouTube partner?
If you already have a channel that meets the criteria, you may start with the next step, although even after the criteria, there are a few YouTube guidelines that you have to follow to become a partner. To monetize your account you may follow the given steps.
Steps to monetizing your account.
- Click on your icon on the top right corner of the screen and then click on My Channel.
- Again, click on YouTube Studio from the screen.
- Find the channel menu on the left side of your screen from the YouTube studio and click on Other features> Monetization.
- Go to the Monetization window and finally click Start.
- Sign up for an AdSense account or connect an existing account to your YouTube account.
You are now ready to earn money on YouTube. You may as well customize your monetization preference, which suits you best at that moment or later.
2. Market your Merchandise.
Many famous YouTubers earn through sponsorship. Collaborating with other brands because of their fan base, reach, views, and engaging audience gives them an added advantage. Some YouTubers are so popular that they sometimes even sell their merchandise to the viewers.
Probably the sellers have their content or product, as one may say ready and then develop their YouTube marketing strategy to sell them. Many YouTubers such as Phil, are creating their line of merchandise products while others are finding opportunities in the TV and film industry. To do this, however, you need to prepare yourself first by-
Designing your Product.
Be creative and explore all the possible ideas to create a product that is relevant and engaging for the audience. Making your product unique is one of the important things to gain an audience.
Markiplier, although he had a rough start, is now one of the most successful merchandise sellers on YouTube. His t-shirts, pants, and caps are adored by the public and enhanced his reach as a YouTuber amongst the public.
Develop your Product.
Having an idea is great, but implementing it is better. If you already have a product, market it well through different YouTube marketing strategies. Or If you’re looking for ideas or need some more planning to engage your viewers in the decision-making process, take suggestions.
If you’re looking to build your product by conducting polls, countdowns to create hype among the audience could be a better way to create ways for your product that may stand out.
Another effective way to promote your product is through the content that you upload on your channel. The subtle impact on the users when you wear the t-shirt in the video, and feature people who’re using it in your video, create a temptation amongst other fans to get the products.
Add the link to the website in your description to make sure that people have access to the range of products that you have to offer.
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3. Crowdfunding Projects.
Crowdfunding is now a usual way to make money for many YouTubers. Creating an account to pool funds to raise awareness among the general mass about a cause or develop your personal project.
Crowdfunding your projects means you can start a new project or fulfill potential creative ideas that had popped up in your brain long ago or even help drive the awareness and growth of the channel.
Although it requires a lot of time and effort to set up a crowdfunding campaign. Nevertheless, if it’s done the right way, it can give you beneficial results. To set up a crowdfunding campaign, you should-
Choose the Appropriate Platform.
If you’re planning to promote your campaign through your YouTube channel. First, you need to select from the approved list of crowdfunding sites. There are many options available for you, such as there are sites that only fund the project-based campaign or monthly-based projects. You would also need to decide upon the time frame to raise the money, the cost of the campaign, and many other things with the people involved in this project.
Designing the Campaign.
While you’re campaigning for the project, make sure the motivation behind choosing crowdfunding as an option reaches the people who will be funding your project, besides that you also need to mention the payment system, as well as what are you giving them.
A company or any crowdfunding agency will only consider the offer if the returns are good. So make sure, whatever you’re offering, whether shoutouts, special mention in the video etc. are worth their money.
Kick Off Your Promotion.
Once you’re done planning, you may start with the promotion. YouTube has many options such as call-to-action, video teasers, and cards, so make sure to link the campaign in your video description. Social media is also a good option to help promote your cause.
Keep an Update.
Always keep updated of the campaign. You may as well share it with the audience to show status updates. This helps to create momentum for your project-based Campaigns.
4. Work Through Fan Funding.
Somewhat similar to crowdfunding, fan funding is the fund set up by the audience to show their appreciation. Fan funding is also known as a tip jar; you can set up a tip jar on your channel videos and your page, where your fans can easily access these features and lets them support your channel monetarily.
✓ What is the Requirement to Set Up Fan Funding?
If you want to set up the fan funding option to your channel, you must-
- be a citizen of the USA, Japan, Mexico or Australia
- meet the criteria of YouTube Partnership
- hold a verified account
- If in case you’re a part of Multi-Channel Network, they must also be a part of fan funding
- You must have an approved AdSense account linked to your channel
If you fulfill the requirements given above, you may follow the steps to create a fan-funding account through.
Process of Fan Founding.
- Sign in to your YouTube account.
- Click on your account icon in the top right corner and then click on Creators Studio.
- Click on the channel from the dashboard drop-down is the left menu and then go to status and features.
- Look for the fan funding option in the features list and click
- After that, follow the instructions given on-page to accept the YouTube Fan Funding Agreement.
- Click on the community that appears in the left menu and go to fan funding.
- Finally, follow the on-page instructions given to link the fan funding account with the Google payment merchant account. Note that you must create a Google payment merchant account before you create a fan-funding account.
Finally, your fan-funding account is created, you may now have a “support this channel option visible on the channels page where the viewers can click and support your page.
✓ Encourage your Fans
After setting up an account, encourage your fans to become premium subscribers on YouTube or become channel members. You may also use super chat options that are available for partners to chat live with the audience, it may encourage them to comment, and their chat may be highlighted and pinned for a certain amount on the video.
5. License Your Content.
Every other day there is one video or other that is streaming everywhere, on the news channels, social media, etc. When such videos go viral, the person that licenses those videos is in exchange for money.
Fortunately for YouTubers, this is another way of making money. If your content is funny or lays out an important message for everyone, it is bound to get viral. You may then license your content and get money for creating it.
There are a few things that have to be kept in mind while uploading the content on your channel-
- Make sure you’re easy to find- Being a content creator, make sure you update the viewers with your about and contact details so that others can easily approach you if they want to collaborate or use your videos for their own channel.
- Sign up on a video-right Marketplace- signing up on a video-right marketplace could be a very profitable option for the creators. A few successful video marketplace such as Jukin Media provides a platform to sell your content and get a hefty amount out of it. It could be one of the great ways to earn money through video rights.
6. Paid Subscription- The Best Way to Make Money.
Enabling paid channel subscriptions is one of the easiest and most efficient ways to earn money. YouTube now allows partners with more than 10,000 subscribers to charge for subscriptions. In 2013, in May, YouTube finally allowed this feature for their partner to check whether it works as efficiently for everyone and whether people would subscribe to the channels as they did for other VODs such as Netflix and Hotstar.
It gives a free 14 days trial and then charges on a yearly basis for subscribing to a channel. The 55/45 ratio for the paid channel subscription is a good way to earn money for the partners. Immediately after this feature was launched, more than 50 channels began with this pay model, which ranges between $0.99 to $6.99 every month.
7. Join Affiliate Marketing.
Affiliate marketing is the most popular online earning way for YouTubers, influencers, and bloggers. Amazon partnership program, Shopify, Alibaba, Commission Junction, Theme Forest, Hubspot affiliate, etc are very trustful affiliate marketing platforms.
FAQs About YouTube Earning.
Even though there are many options to earn money through YouTube, there are often some questions left behind in the minds of people. There are a few frequently asked questions that we’ll try to address now.
How much money do you get for 1000 views?
It is AdSense(YouTube) that pays you the money for every 1000 views you get paid around $0.75 to $2.00 on average. For 100K views, on average you get around $75 to $200.
Is there anyone who earns a lot through YouTube videos?
Actually, there are many rich YouTubers on the internet today. A few distinguished YouTubers are PewDiePie worth $15.5 Million, as mentioned above, there’s Markiplier worth $17.5 Million who is trending on the internet today.
Do I get paid monthly as a YouTuber?
Yes, YouTubers get paid on a monthly basis, usually around the 21st of every month. Although it depends on the views of your content, YouTube pays an average of $2 for every 1000 views, depending on the calculations, you get paid at the end of the month.