How to Earn Money on YouTube in 2023: 7 Powerful Techniques
YouTube videos are viewed for one billion hours each day worldwide. The platform’s enormous popularity has allowed it to evolve from a conduit for entertainment into a potent monetization tool for companies and individual brands.
Therefore, this is a wonderful moment to start if you’re interested in earning money on YouTube. We advise starting with a website to house your videos and serve as a platform for your brand before uploading your material on YouTube. This will increase your audience and enable you to charge your followers. The seven best strategies to monetize your YouTube videos are examined in this post.
Basics of monetizing YouTube
You must create a channel to host your videos on YouTube before you can begin posting. But earning money just by uploading videos is not guaranteed. So, once you set up your account, make sure to activate monetization in your settings. This will provide you with the chance to eventually monetize your YouTube videos. You can then choose which monetization strategies to employ.
It’s also vital to keep in mind that you can still monetize your YouTube channel even if you don’t have millions of subscribers. Understanding your audience and then targeting them with pertinent information is one of the finest methods to achieve this. Consider what it would be like to be one of your subscribers or the people you want to follow in the future.
After you have a thorough understanding of your audience, engagement should be your next objective. Consider carefully the kind of information that would appeal to them, the things that would be most helpful to them, and the best ways to get readers to click, comment, or subscribe. Only after that can you produce videos that are certain to be profitable using one of the following strategies.
The best way to monetize YouTube:
- Become a partner with YouTube
- Sell products
- Crowdfund
- Utilize fan money
- The right to the media
- Put together sponsored content
- Become a marketer for affiliates
1. Sign up to be a YouTube Partner
As soon as you launch a YouTube channel, you can sign up for the YouTube Partner Program to have access to exclusive monetization tools like the capacity to serve advertisements, display goods, and more.
Even though signing up is entirely optional, you do gain access to a number of ways to make money, such as Premium subscription fees and a retail shelf. How to become a YouTube Partner is as follows:
Step 1: Stay compliant with the guidelines
When you first apply to the Partner Program, YouTube will review your channel for compliance. For this reason, you should get acquainted with the platform’s monetization policies, and make sure your content abides by the rules every time you upload a YouTube video.
You can join the YouTube Partner Program as soon as your YouTube channel is live to have access to special monetization capabilities like the ability to serve advertising, display products, and more.
Despite the fact that joining is completely optional, you do get access to a variety of revenue streams, including Premium subscription fees and a retail shelf. Here’s how to sign up as a YouTube Partner.
Step 2: Comply with the conditions of the YouTube Partner Program.
You must succeed as a YouTuber in order to apply for the program. As of 2020, you must have 1,000 subscribers and 4,000 view hours on your channel to be eligible for membership. You can only submit an application to become a YouTube Partner if you’ve reached or exceeded these figures.
Step 3: Submit a program application.
If you satisfy the prerequisites, you can submit an application to join the program by doing the following:
- On the YouTube homepage, look to the top right. Select Creator Studio by clicking the symbol for your account.
- Click Channel on the left side of the screen. Select Status and Features after that.
- Click Enable next to the Monetization box.
- Accept the terms of the YouTube Partner Program.
Set up AdSense in Step 4
To ensure you’ll make money from your videos and get paid, you’ll need to create an AdSense account linked to your profile as part of the application procedure. Remember that you are only allowed to have one of these accounts, even if you can link several channels to it.
Step 5: Request a review
Your channel will be added to a queue for review once you’ve submitted an application to become a YouTube Partner and created an AdSense account. At this point, your channel will be thoroughly examined for compliance with the rules by both automatic systems and humans.
Step 6: Examine your choices for generating income.
Congratulations if YPP accepts you! It’s time to enable monetization and set up your ad options.
There are many various ways to monetize your YouTube channel but bear in mind that each one has its own eligibility requirements.
2. Market products
Selling products on YouTube is another option to generate income. You can offer items you already sell on other platforms or you can develop a brand-new collection based on the material on your channel. Remember that if your films already have a fan base, you’ll have a far higher chance of making purchases, so work on increasing your fame before you start creating such things.
Step 1: Create your goods.
Step 2: Gather materials and create your goods
Step 3: Start an internet store
Step 4: Make your product shelf active.
Step 5: Use your YouTube videos to market the merchandise.
3. Crowdfunding
Crowdfunding is the activity of soliciting financial support from a sizable group of individuals, including friends, relatives, and other interested parties. If you’re seeking recurring income or a one-time payment to kickstart your efforts, this is a potential alternative for making money on YouTube.
Step 1: Sign up with a crowdfunding platform.
You must first sign up with a crowdfunding platform. For a variety of choices, check out YouTube’s list of authorized crowdfunding websites. The most well-known ones consist of:
- Kickstarter
- Indiegogo
- GoFundMe
- Angel.me
- Crowdfunder
Be aware that some platforms work best for fundraising for one-time projects while others support long-term fundraising campaigns. Regardless of your preference, be sure to pick a platform that meets your requirements.
Step 2: Market your crowdsourcing initiatives
You must spread the word about your campaign after setting up an account. Your YouTube channel will be useful in this situation. You may explain the history of your project or brand through films. By keeping your fans informed of the status of your fundraising, you may create excitement, intrigue, and suspense. Additionally, to entice donors, give incentives based on their contributions, such as shout-outs, access to special material, or free items.
4. Use fan money
Fan financing is another way to monetize your YouTube channel. Fan fundraising particularly sources money from your audience, as opposed to crowdfunding services that solicit donations from a broad public.
Step 1: Sign up with a fan fundraising website.
Step 2: Publicize your fan fundraising initiatives.
5. License to the media
Most content is not a viral hit. But when it does, lots of media outlets want copies so they can show it to their viewers again. By licensing it to the media and charging them a license fee for permission to use it, you can generate money in this situation.
Step 1: Make sure you prominently display your contact information.
Step 2: Sign up with a video rights exchange.
6. Create sponsored content
You may become an influencer and earn money on YouTube with sponsored content if your channel takes off. When you have a sizable and active fan base, you might be able to make money by promoting branded goods.
Find a company to sponsor in step one.
Create branded content in step two.
7. Learn how to use affiliate marketing
Using affiliate marketing to promote brands and items is an additional choice. As an affiliate marketer, you’ll acquire a specific connection to a corporate website that tracks back to your page. You will receive commissions from sales when customers use that link to make a purchase from the business.
You don’t need a sizable fan base to start out because the brand only pays you when you generate sales rather than paying you to merely advocate their brand. This is how you do it:
First, sign up for an affiliate program.
Step 2: Speak with companies
The products should be highlighted in your material in steps three and four.
What kind of earnings is possible on YouTube?
After learning how to monetize your YouTube channel, you may be wondering if you can make enough money from it to make it your full-time job. These figures reveal some information about the earnings of YouTubers:
Google gives the video author 68% of their AdSense earnings. This means that Google will pay you $68 for every $100 an advertiser spends.
Advertisers on YouTube receive an average payment of $0.18 for each ad view.
This implies that, on average, a YouTube channel can earn $3–$5 for every 1000 video views.
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