22 Apr YouTube & Your Wallet: Make Money On YouTube
In 2020, YouTube will make 5.5 billion dollars worth of advertising revenue in just the United States. I don’t know about you, but that makes me pretty inspired to make some money off of my YouTube channel.
How much are the top guys making, you ask?
If you have a camera (or smartphone), a computer, and some sort of video editing software, you are ready to start making videos today. The big question – How can I start making money? Let’s break it down.
1. Set up an AdSense Account
Plain and simple, AdSense throws ads on your videos so you can make money. Ads tend to be determined by your type of content and visitors. Find out more about how AdSense works here.
2. Become a YouTube Partner
This is not going to happen overnight. In order to become a partner, your channel must have at least 1,000 subscribers and 4,000 watch hours within the past 12 months. Don’t let this scare you away. Hustle hard and you’ll meet those requirements in no time.
Tips to Help Grow Your Channel:
- Make your channel name easy and memorable
- Find your niche
- Upload consistently
- Invest in quality equipment and software
- Market your channel on social media
- Be patient
3. Use Affiliate Links
You don’t have to be a YouTube Partner to do this! Make money by linking products you talk about in the description. Say I talk about a new hair product in my video. I would link it in the description. If a viewer clicks that link to buy, I would make a commission. Affiliate marketing is everywhere. Check out some of the best programs here to get you started.
What do I need to be an affiliate?
A place to promote links (YouTube channel, blog, Instagram stories, etc.) and a PayPal account!
4. Amazon Affiliate Program
Amazon offers an affiliate program that can have you cashing out in no time and it is FREE! They break it down into three simple steps: Join, Advertise, Earn. This program is great because you can buy practically anything on Amazon. Link everything you talk about in your description to maximize revenue! Tip: Don’t be afraid to link your equipment either. You’d be surprised how many people are interested in what camera or tripod you are using. Might as well make some money from it, right?
5. Crowd Funding
Make money by going directly to the source – your fans. This is a great way to grow and maintain a loyal fanbase as well as make a profit. A platform like Patreon allows you to create exclusive content for your audience, set goals, and create rewards. The best part? It’s all in your control. Create tier levels for your fans. Start at $1 and go up to whatever amount you would like. The more expensive, the more exclusive content. The opportunities are abundant with Patreon. You will be surprised at the generosity of your fans when they see the effort you are putting into creating great content!
6. Create Sponsored Content
Work with brands to promote new products or services to your audience. This may take a while to get, but the profit can be large. Brands are willing to pay more money for sponsored YouTube content because videos are the most expensive to make versus posting a picture on Instagram.
Sponsored Content is a great way to make money because YouTube does not take a cut of your earnings. The deal is strictly between you and the brand.
If you are just starting out with brand deals, don’t be afraid to make the first move. Reach out to brands you are passionate about. Be sure to have a well-crafted pitch that will impress. Let them know why they should work with you and how you can help them grow.
7. Sell Merchandise
You might make videos but that doesn’t mean you can’t throw your name and logo on a t-shirt, sticker, or whatever other product you have in mind. Get your fans involved and let them help you pick the designs!
There are countless ways to bring in revenue. Get creative with it. It can be a challenge to start making money from YouTube itself but take advantage of a few of the many other ways while you work towards it. Put in the work and you’ll bank account will thank you!