Almost everyone creating content for YouTube ultimately aims to monetize its YouTube channel. And rightly so, since the popularity of YouTube and Youtubers is on the rise, be it in media, among audiences, or for a number of views. No surprise, YouTube appears to be a treasure trove of opportunities, both in terms of popularity as well as making money.
But, how to monetize YouTube channels? Are there ways to monetize YouTube channels other than advertising?
There are undoubtedly several ways to make money on YouTube, some more profitable than others. However, it’s definitely possible to earn a decent recurring income from YouTube. In this article, we will talk about some of the latest and most creative ways to monetize YouTube channels and earn dollars.
Before you concentrate on making money on YouTube, it’s essential to analyze where you stand and how much work you need to do to attain a level that will bring you steady income per month from YouTube.
- Is your channel new? You have to work on it and grow to attain a considerable following.
- Do you already have a certain number of subscribers? Understand, the more subscribers you have, the more visibility you will gain. Higher visibility translates to more traffic and hence more revenue.
- Are you already popular on YouTube? Know that there are several ways other than advertising to monetize your YouTube channel.
What are the eligibility criteria for YouTube Monetization Service?
When it comes to YouTube monetization, advertising is the most widely adopted method. However, to activate display advertising on your channel, there are conditions to respect:
- Your channel must abide by all the rules and regulations set up by YouTube.
- Your channel must have at least 1000 subscribers and 4000 video watch hours.
- You must have an Adsense account.
- You must be a member of the YouTube partner program.
YouTube is undoubtedly the most popular video platform out there. Moreover, it boasts a total of over 2 billion users with monthly traffic that is second only to Facebook. Furthermore, in 2020 YouTube paid around 16 billion dollars to content creators. So, how to utilize the immense potential of this video platform and make money from YouTube? Here are all the ways;
Perhaps the biggest way to monetize through YouTube is to use the platform for brand or company promotion. While it does not directly result in income, but with the right promotion strategies and with interesting and exciting content, you could build a captivating image about your brand or business. This will indirectly lead to increased sales, which ultimately results in more revenue and profits.
Channel membership is another indirect method to earn money from YouTube. With a channel membership, users get exclusive benefits in terms of content, exclusive videos, badges, emojis, live chat, etc. Users pay a monthly sum in exchange for all the exclusive benefits. While free content will be the pillar for your channel’s popularity and reach, channel membership will allow you to maximize your income through YouTube.
During a live broadcast on YouTube, hundreds of users interact with the session and leave comments. However, comments are easily lost in such an overwhelming crowd. If users don’t want this to happen and wish that their message stands out from the rest of the crowd, they can buy a super chat or a super sticker. One part of the money will go to youtube while the other will be credited to the content creator. Similarly, super stickers allow the users to send unique and eye-catching stickers.
According to YouTube, product placement and promotion is one of the biggest YouTube monetization methods. In simple terms, it’s about promotional content. Now, promotional content could be anything from product recommendation, promotion of events, digital products, etc.
However, it only works with channels having a considerable subscriber base and specific niche content. You can then approach brands related to your niche for promotional activities on your channel. YouTube allows this practice as long as you clearly mention that the video on your channel includes promotional content.
Merchandising on YouTube is another popular method to churning out extra profits from the YouTube channel. To facilitate merchandising further, YouTube has created a tool popularly known and YouTube Merchandise.
Below the videos, there is a small section where you can display the merchandise. You can showcase up to 16 products at a time. However, to access merchandising service on YouTube, you must have at least 10,000 subscribers and be a part of the YouTube partner program.
Yet another method to earn a decent amount of money through a YouTube channel is through brand affiliates. In affiliate marketing, content creators produce videos encouraging users to buy certain products through a given affiliate link. When users purchase through the affiliate link, a part of the sales goes to the content creator as a commission. YouTubers can earn up to 10% commission depending upon the product and category.
Service promotion works similarly to brand or business promotion. For example, if you are a graphic designer, you could showcase your latest work on your YouTube channel.
Many of the users are on the lookout on YouTube for quality services. If your work simply reflects top-notch quality, you could generate recurrent sales for your services through YouTube and earn money.
You may not believe it, but people are ready to pay the YouTubers for their favorite content. You can simply place a donation link below your videos and make simple requests to viewers that you accept donations.
Simply explain to viewers that the money received will ultimately spend to create better content. While donations won’t make you rich, but a little support from your viewers will encourage you to keep producing good quality content and ultimately reach a level where you can unlock other potential sources of YouTube monetization.
It’s certainly possible to make money on YouTube, and there is no shortage of methods for YouTube monetization. But you have to grow your YouTube channel as fast as possible. The bigger your YouTube channel is, the more YouTube monetization sources you can unlock and generate more profits. It won’t happen in a day; you have to take it as a long-term project and commit to it. Only then can you generate a stable monthly income from YouTube.