7 ways to make money on YouTube

The most obvious way to make money on YouTube is through advertising. However, it is not the best or only option. There are many ways to make money on YouTube.

With over a billion monthly users, YouTube accounts for 50% of all internet traffic. Almost 500 hours of video are uploaded to the web every minute. How do you make money on this platform?

1. Join the YPP  (YouTube Partner Program)

Regular YouTube users can access exclusive features of the site through the YouTube Partner Program. Being an affiliate makes things a lot easier, but again, it's not the only way to make money on YouTube. To do this, just create an AdSense account and get views.

YouTube partners have access to several revenue streams in addition to video ads. The cost of YouTube Premium subscriptions and services like Super-chat, channel memberships, and product shelves directly hits the wallets of devoted followers.

Here's a step-by-step guide on how to go about it.

Step 1: Start your YouTube channel. Explore all available features and create your own unique channel.

Step 2: Increase the popularity of your channel to the point where it meets the criteria of the YouTube Partner Program. To join the program, you need at least 1,000 subscribers and 4,000 watch hours in the last 12 months.

Step 3: Set up your AdSense account by following the official YouTube AdSense account guide.

Step 4: Explore new monetization features. Each monetization channel has different eligibility requirements. First, the user must be over 18 years of age. The remaining criteria are listed below:

Ad Revenue: Create advertiser-friendly materials that can be monetized from ads. Basically, the less questionable your videos are, the more comfortable YouTube advertisers will feel about placing ads on them, and the more money you'll make.

YouTube Premium Revenue: If a YouTube Premium subscriber views your video, you will receive a percentage of their monthly price.

Channel Memberships: In order to sell channel memberships to viewers, you need to have more than 30,000 subscribers, i.e., get them to give you more money.

Merchandise Shelf: You need 10,000 subscribers to your channel to sell merchandise from the YouTube Store.

Superchat Payments: You can let viewers pay to have their words appear in your live chats during your live streams. But you also need to live in a country where this feature is offered.

Submit ongoing reviews: According to YouTube, the channel will be held to a higher standard if a person becomes a partner. You must comply with both the Community Guidelines and the YouTube Partner Program rules and copyright regulations.

2. Sell your own Content (merch)

You must have the mind-set of an entrepreneur and content creator. If you're an entrepreneur first and a video creator second, there's no doubt there's already a product you want to sell, so plan your YouTube marketing strategies accordingly. Keep in mind that Kanye also sells t-shirts!

Here are some sneaky merchandising hacks:

Imagine and design your product: Merchandise should reflect and strengthen your relationship with your audience. That means it has to stand out.

Pro tip: There may be more merchandise ideas than you can store. Build hype by releasing special products around major subscriber milestones.

Sourcing and/or assembling your product: You usually need a manufacturer, supplier or wholesaler to create and deliver your product. Some suppliers will ship, while others will take care of inventory management, shipping and returns to reduce the amount of hassle.

Create your "store" and landing page: Another website is needed to manage purchases. Here is a list of allowed YouTube product pages to help you connect to the landing page directly from the videos.

Run your store for YouTube partners: YouTube partners can also use the shelf feature to sell their channel's merchandise. If possible, follow YouTube's instructions to activate it.

Promote your product in your videos: Be creative with your products. Carry or incorporate your merchandise into your video content. Be sure to include end screens and call-to-action cards with a link to your website in your video descriptions.

Pro tip: Express gratitude often. This practice allows you to measure how good and popular your product is or otherwise.

3. Produce paid content

An influencer doesn't have to be limited to Instagram. The advantage of using the #sponcon approach is that one doesn't have to give YouTube a portion of their profits. The mark is paid directly after direct negotiation. It makes sense that YouTubers use this as a standard method of income.

Find a brand to work with and be transparent. Brands are likely to be interested if you can provide them with a significant and/or active audience and the content is relevant to their target market.

4. Become an affiliate partner

If your YouTube audience is loyal and active, but not large enough, look for companies that invest in affiliate marketing.

Brand-affiliated YouTubers encourage their followers to visit the brand's website or specific product pages. They then receive a share of the sales that their affiliates bring in.

5. Get fans to make payments directly

One thing that unites all the different sources of income is this method of making money on YouTube. Make it easy for viewers to show their appreciation by paying with a credit card.

6. Use crowdfunding

Online donation requests are becoming more routine. Crowdfunding is a way many YouTubers make money, whether they want to fund a personal project related to the channel or get a steady income from a group of small monthly donations. Create a crowdfunding account. YouTube has a list of approved crowdfunding sites for you to choose from.

7. Give the media a licence for your content

Most news organisations are always looking for popular videos to play to their viewers. And luckily, most reputable media organisations know they have to pay for the resources they consume. So licensing is another way to make money on YouTube.

Key Takeaways: Many factors that affect your ability to become famous on YouTube are beyond your control, including the YouTube algorithm and the preferences and needs of your audience. This is true no matter how popular your channel is or how much money you make from AdSense.

But these methods have been tried and tested and one of them will work for you as long as you follow the rules and requirements of each criteria!