Unless you have been living under a rock for the past few years, you are probably well aware of YouTube. The platform hosts millions of videos that are viewed by millions of people around the world each day. While YouTube first started as a free streaming service, it has evolved into a thriving online community of creators who make a decent living. If you are interested in joining their ranks, read on to find out the different ways you can use YouTube to generate income.
The YouTube Partner Program
YouTube’s partnership program is the most convenient monetization option for video creators. To quality for the partnership program, you need to have at least 1,000 YouTube subscribers on your channel and a minimum of 4,000 public watch hours over the past 12 months. Your channel must also have a good publishing record with no active Community Guidelines violations. Once you are accepted into the partnership program, you will be able to access a variety of monetization options.
Advertising Revenue – Advertising revenue share is one of the most popular options available through the partnership program. With this option, you will receive a share of the ad revenue from your videos based on the amount of views you receive. You can also gain extra revenue if viewers click on the ads and make purchases. Ad formats can include bumper ads that appear before your video, skippable ads that appear halfway through playback, or overlay ads that stay at the bottom of the video screen.
Channel Memberships – As a member of the YouTube Partner Program, you can also make money through channel memberships. Through memberships, you can offer special perks to members who pay you a recurring monthly fee. Examples of potential perks include early access to new videos, discounts on merchandise, or emojis and badges for chats. However, certain actions such as marketing to children, downloading of YouTube content, and having in-person one-on-one meetings are prohibited.
Super Chat / Stickers / Thanks – Fans love connecting with content creators and engaging with them on a more personal level. The Super Chat and Super Stickers option allows your viewers to pay a small fee to purchase interactive elements that they can use during your videos and live streams, giving them greater visibility over ordinary viewers. Super Thanks is another revenue option where viewers can send you a ‘thank you’ tip and have their comment highlighted.
Connect Your Shopify Store – As a partner in the YouTube Partner Program, you can connect your YouTube channel to your Shopify store and sell products directly through your videos. Once connected, you can add links to any product in your store and fans can purchase them without leaving the YouTube app or website. In addition to monetizing product sales, you can also use YouTube’s audience insights to learn more about your customers and generate new sales opportunities.
What If I Do Not Qualify?
Perhaps you are just shy of the subscriber requirement or do not live in a country that is eligible for the YouTube Partner Program. Not to worry, there are still other ways that you can monetize your video content on the platform.
Sell Merchandise – You can promote and sell merchandise in your YouTube videos. While you may not be able to allow direct purchases from the video itself, you can display links in the video description to the relevant product page on your website. A sure-fire way to do this is to use the merchandise across many videos. For instance, some creators wear the same T-shirt or use the same coffee mug in every video so that their viewers slowly become conditioned to want their merchandise.
Become an Affiliate Marketer – You can become an affiliate marketer by signing on to affiliate marketing programs such as Amazon Associates. These programs will give you a percentage of each sale that is made through your affiliate link. The products featured in your affiliate marketing program can either be products that you personally use or products that are sent to you by brands to review. However, be sure to disclose your affiliate partnerships to your viewers.
Crowdfund – If you have a small but niched community of viewers, you can consider crowdfunding to support your channel. This will allow you to directly monetize your content creation efforts outside of the YouTube Partner Program. Some crowdfunding platforms include KickStarter, which specializes in arts and entertainment projects; Indiegogo, which focuses on entrepreneurship; and Patreon, which gathers monthly support for all types of content creators.
As you can see, there are numerous ways to profit from your YouTube channel. While the YouTube Partner Program offers the easiest way to generate revenue, you must be active and post frequently to retain your membership status. For those that have not met the qualification thresholds yet, there are alternative revenue streams that you can use to increase your earning potential on the platform.
The key to success on YouTube is to create interesting, high-quality content that will attract a loyal following. As your popularity grows, so will your potential to earn revenue. Be sure to interact with your viewers in the comments section of your videos and encourage them to subscribe to your channel. With some hard work and a little luck, you can start making money from YouTube in no time!