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Around the globe, five billion YouTube videos are watched every day. YouTube is as popular as ever with users spending an average of 40 minutes a single YouTube session.
In line with this digital shift, the next thing to learn is how to make money on YouTube. All you need is video editing software and some a computer and you can get started on YouTube.
On Ryan’s Toy Review, young Ryan makes a whopping $22 million by playing around and disassembling toys. Not bad for playing around with gadgets.
Making money via YouTube is no longer exclusive to platinum musicians or huge influencers. There are plenty of opportunities for everyday people to make money from YouTube, creating great video content on their channels.
In this article, I’ll go over the different ways you can start making money on YouTube this year.
How to Make Money on YouTube
While it is possible to make significant income from YouTube as a content creator, it is not the easiest either. Four hundred hours of video upload to YouTube every single minute across the world.
Numbers don’t lie. Therefore the competition is pretty intense, and making a lot of money online becomes more challenging. Here are some powerful strategies you can employ to jumpstart your earning potential from YouTube.
1. Become a YouTube Partner and earn from ads
For many YouTubers, ads form the essential revenue stream. This is consequent to becoming a YouTube Partner.
As a YouTube partner, you make money in different ways. You can make money from ads on your videos, channel memberships, plus Super Chat features. These chats give viewers on a live chat increased visibility from the streamer by boosting their comments.
However, there are some ground rules to observe before becoming a certified YouTube Partner as well as some prerequisites needed to start. Aside from religiously adhering to YouTube’s ad rules, you must have been able to amass a minimum of 4,000 video watch hours on your channel and 1,000 subscribers within the last 12 months.
There is no concrete timeline or format to get these foundational 4,000 hours. You can get 100 hours each on 40 videos, and there you are. Then if you are the viral maestro, you can get the 4,000 hours or 24,000 full views on one video.
For example, the famous international hit Gangnam Style took an enduring five months to achieve 1 billion views. However, Despacito was less patient rushing to 1 billion views in barely 97 days.
Therefore, it can be that spontaneous – or lazy, depending on the allure of your content and your strategy.
Now, after successfully achieving the 4,000 hour-threshold and winning your place as a YouTube partner, we can now talk about the money.
In your Video Manager, a green “$” next to your videos indicates that you can now tap into YouTube monetization.
However, you may not always be able to base your revenue generation on YouTube from advertising alone. There are other avenues by which you can consolidate your earning potential on YouTube.
Our next monetization outlet is leveraging affiliate links.
2. YouTube Monetization: Use affiliate links on YouTube
Promoting affiliate links can be a massive earning opportunity for channels that offer in-depth tutorials as well as insightful product reviews. For example, if you recommend a product and a user visits your link to buy, you’ll start earning commissions. You can place these links in the first few lines of your description and speak about your link in your video content.
Posting affiliate links on YouTube shares a typical resemblance to promoting affiliate links on your blog. Thus, you shouldn’t pour affiliate links all over your YouTube content just for the monetary benefit. Don’t forget that viewers will only follow these links when they believe you are a trusted resource.
To build trust with your audience, help your affiliates solve concrete problems. Create videos that offer solutions that you have previously accomplished yourself.
3. Make Money on YouTube with Funding from Your Fans
If you’ve built a following of loyal fans, encouraging them to crowdfund your channel can help you fund your new videos and profit.
A platform like Patreon introduces more seamlessness to the process of getting paid for your content. For as little as a dollar, your fans can make subscriptions to their favorite channels, even going home with some exclusive rewards from their favorite content creators. Tipee is another service that allows you to enjoy a combo of recurring and one-time donations.
For-profit and nonprofit channels alike are leveraging this fan-funding with their audience to keep their video operations running smoothly. As long your content is interesting, entertaining, or providing value, you would be amazed at how your viewers open the floodgates of generosity.
4. Master Your YouTube SEO
For YouTubers who have not built a significant following yet, you have to step up your game and maximize YouTube SEO this year.
To do that, perform keyword research like you usually would – however, think a little differently based on what people are searching for on YouTube. Next, make sure you are using high-value keywords in your video title, description, and video tags.
Once launched, you can check your YouTube “Traffic Source: YouTube search” report to get an idea of what people are searching for when they find your videos.
In general, Google provides video results for keywords on how to, reviews, tutorials, and funny video terms.
There are also five key YouTube SEO ranking factors to consider:
- Number of comments
- Subscribes after watching a video
- Thumbs up/thumbs down ratio
- Video length
- Click-through-rate on the YouTube search results
5. Make the most of your YouTube marketing funnel
Optimize your YouTube channel for sales. Choose your niche, become a YouTube partner, and start planning your marketing funnel.
YouTube is one way to spread your message, but you can make more money by using YouTube in unison with a blog. That way you’re collecting more email addresses and eventually selling products to your fan base.
For example, if you write a blog post about an affiliate product you’re recommending, repurpose that content, and create a YouTube video embedded in the post. Then send users from YouTube back to your blog and to the affiliate links to both earn commissions and build blog readers.
6. Become an Amazon Influencer
The Amazon influencer program is becoming more popular. This influencer program allows you to maximize your YouTube (social media in general) presence to make money via Amazon recommendations.
After joining the program, you can review and recommend products and direct your viewers to Amazon to purchase via affiliate links. When your viewers click through and make Amazon purchase, you get your cut of the commissions – typically 8-10%.
However, this program isn’t open to everyone. Social media follower count and other metrics dictate approval odds.
7. Explore extra gains from YouTube Red Subscribers
YouTube Red allows users to pay $9.99 for ad-free YouTube viewing. Even without ads, content creators can still generate money and make 55% of revenue, based on view time. There are mixed reviews on whether YouTube Red increases or decreases CPM rates.
With YouTube Red, your watch time matters, so check your YouTube Analytics to view your statistics like watch time and video engagement.
How Much Money Can You Make on YouTube?
The short answer: it depends.
By using ad monetization, affiliate links, and selling sponsored placements in your videos, you can maximize your revenue potential.
On YouTube, you can make money from ads on a CPM, CPV, and CPC basis. With cost per impression (CPM), a typical YouTuber makes $7.60 per 1,000 views.
Nonetheless, by Google policy, creators get 55% of earnings accrued from advertisements while Google keeps 45%.
Now if you are using affiliate marketing as a channel owner, advertisers disburse payment with different models – typically cost per sale or cost per lead. Here, your earnings directly correlate with the number of conversions and sale commissions you get from advertisers.
You can also sell sponsored product placements in your videos. Here YouTubers make money by selling either short mentions or more extended product recommendations on brands looking for exposure.
However, if you have been able to build a measurable following on your channel, brands will pay you. This price may range from $20 to $50 for every thousand views they get on your channel. So if for example, their video on your channel hits a million views, you can be dancing to the bank with anywhere from $20,000 to $50,000. This strategy is a better way to monetize when you aren’t generating millions of views.
How Much Money Do YouTubers Make?
For thousands of YouTubers, this answer may be nothing, or barely anything. For popular YouTubers, this could be millions per year.
It’s getting tougher to make money, as ad revenue can range from $0.35 to $5 per view, with the safe assumption being $1 per 1,000 views.
The profitability of your channel is tied to both your views and your niche.
YouTubers in highly-viewed niches like listicles, news, celebrity gossip, makeup and beauty, and popular fails quickly pull in revenue with millions of views.
There are also YouTube revenue calculators to help you understand how much you can make based on video views and engagement.
What amount do YouTubers earn for every 1000 views?
In line with our previous stipulation, YouTube content creators can, on average earn from $0.30 to $5 for every 1,000 views their videos achieve. In some scenarios, this can be higher, while it’s safe to assume this number is a $1 CPM.
How many views do you need to cash out on YouTube?
Once you attain a balance of $100, YouTube pays you.
Can you earn from YouTube pay per subscriber?
YouTubers channel owners do not receive payment from YouTube per subscriber.
That’s a Wrap
Making money on YouTube is possible, but it’s hard to make money with just YouTube alone. It’s vital to have a platform that you own like a blog and use YouTube as a secondary traffic stream. One benefit is that YouTube SEO is not yet as competitive as organic SEO. If you can get in now and start generating traffic, you’ll be a better place by 2020 when the competition is more fierce.
My advice: start a blog with a high-end marketing funnel, then join YouTube as a secondary way to build your email list and generate affiliate income.
Feel free to use some of these YouTube monetization tips to launch your channel and build your audience of avid viewers this year.