YouTube has grown into one of the largest platforms for making money online today.
In this article, I am going to share with you nine prove ways of making money on YouTube
This is because YouTube is no longer just a place for you to watch funny videos or music, but a platform that can generate revenues for you every month.
However, you have to be serious and treat your YouTube channel as a business.
Every day, millions of people upload videos on YouTube, and some of them are turning their YouTube channels into real online businesses
That means you can be able to make money on YouTube in a number of ways, even when you do not have many subscribers.
For you to start earning from YouTube, you need the right strategy and a clear understanding of the different ways to make money on YouTube
So today, I am here to give you ways on how to make money or earn an income on YouTube
All this will not matter if you do not learn how to start a YouTube channel.
9 Ways to Make Money on YouTube
Here are nine ways you can use to make or earn money on YouTube today;
- YouTube AdSense (Ad Revenue)
- Affiliate Marketing
- Selling Your Own Digital Products
- Channel Memberships
- Brand Deals and Sponsorships
- Coaching or Consulting
- Merchandising (Selling Physical Products)
- Crowdfunding & Donations
- Licensing Your Content
You should craft a strategy on how you are going to implement your monetization strategy on YouTube
It would be best if you could start with beginner-friendly ways to make money on YouTube, and then scale the income streams as your YouTube channel grows.
You might also need to improve your skills to execute some of the above YouTube monetization ideas.
YouTube AdSense (Ad Revenue)
Making money through AdSense is one of the common ways you can make money on YouTube
In fact, many people think about this monetization idea when they think about making money on YouTube.
YouTube AdSense allows you to make money on YouTube through adverts.
However, to start earning through YouTube AdSense, you need to qualify and join the YouTube Partner Program (YPP).
Once you join the YouTube Partner Program, YouTube will be placing adverts on your videos, and you are going to generate an income.
You can be able to place adverts on your videos at the beginning, middle of your videos, or towards the end of your videos.
The amount of money you are going to make depends on your audience, your niche, and how many views you get.
For example, YouTube channels about finance, technology, or business often earn more per view than entertainment channels.
This is simply because advertisers in those industries pay higher advertising rates to Google/YouTube.
Earning money from AdSense on YouTube works very well as your channel grows
When done right, it can provide a steady stream of passive income over time.
Affiliate Marketing
Another way to make money on YouTube is through affiliate marketing.
It is actually one of the fastest ways to earn money on YouTube, especially for beginners.
You can start making money on your YouTube channel with affiliate marketing even with very few subscribers.
This means that affiliate marketing should be your first monetization strategy to implement on your YouTube channel.
It is going to allow you to start generating some income, long before you make money through AdSense or before you join the YouTube Partner Program
Here is how affiliate marketing works on YouTube; you recommend a product or a service in your video, and share a special affiliate link in our description
When someone uses that link to buy the product or service, you earn a commission.
For example, if you have a YouTube channel about fitness, you could recommend workout equipment, supplements, or mobile apps.
Another example would be if you have a technology review YouTube channel. In such a case, you could share links to cameras, laptops, or software
Affiliate marketing works well because you are helping your audience by pointing them to useful tools while earning money at the same time.
It is a YouTube monetization strategy that works for everyone; your audience wins, you win, and the business with the affiliate marketing program wins too.
Selling Your Own Digital Products
One of ways you can make money on YouTube is by selling your own digital products.
Digital products are a lucrative way to monetize your YouTube channel
The idea here is basic; you can monetize your skills, knowledge, expertise, hobbies, passions, or life experiences by creating a digital product
And these digital products could be eBooks, online courses, templates, guides, or even mobile apps, among others
Digital product is something that your audience can get simply by accessing the internet, and without need for any exchange of physical products.
The great thing about digital products is that you create them one, but sell them over and over with no extra cost.
For example, if you teach people how to save money, you could sell a budgeting template.
As a content creator, you could create video editing presets, and if you know about business, you could package your knowledge into a paid online course
When you monetize your YouTube channel through this strategy, you are not only going to bring in income, but also builds your authority in your niche.
Channel Memberships
Another way to make money on YouTube is through channel memberships
This is a YouTube monetization strategy you can implement once your channel grows, and when you have a loyal audience.
Offering channel memberships is an idea where your viewers pay a small monthly fee to access exclusive perks.
The perks could include members-only videos, live streams, behind-the-scenes content or special badges and emojis
What you would be doing is to offer a kind of a VIP club for your most loyal fans.
Having channel membership as part of your YouTube income stream not only generates money for you, but also builds a deeper connection with your audience or community.
Channel memberships on YouTube work best when your audience trusts you and loves your content enough to want that extra connection or deeper insights.
Brand Deals and Sponsorships
One of the ways to make money on YouTube is through brand deals and corporate sponsorships.
It is a great way for you to monetize your YouTube channel, and to generate additional income from your video content.
Corporate brands are always looking for video content creators who can help them reach new targeted audiences.
What this means is that if you are getting consistent views, and you have an engaged audience, companies or brands might pay be willing to pay you to promote their products or services
Sponsorships can often bring you more money or income than AdSense.
For example, a brand may pay you hundreds or even thousands of dollars for one sponsored video, especially if your audience matches their target customers.
The key to making money on YouTube through brand deals or sponsorship is authenticity.
You should only work with brands you truly believe in, and that your audience will find valuable.
Otherwise, you risk losing the trust of your audience, which is the most valuable asset on YouTube.
Coaching or Consulting
It is possible for you to monetize your skills, knowledge, or expertise on YouTube through coaching and consulting
This is one of the ways to make money on YouTube.
If you are a coach or a consultant, YouTube can be your best tool for attracting clients.
Many professionals use their channels to share tips, answer questions, and build authority.
When you do this, you can then offer paid coaching or consulting services to your audiences who want personalized help or assistance.
For example, if you are a financial coach, you can create videos about how to manage personal finances, budgeting, investing or managing debt. and then invite your audience to book one-on-one coaching sessions with you.
Coaching or consulting is can be an extremely profitable way to make money on YouTube
You can be able to charge premium rates for your expertise and transformation offer.
Merchandising (Selling Physical Products)
As your YouTube channel grows, you might consider leveraging the power of YouTube to sell merchandise.
Merchandising is one of the ways you can make money or generate an extra income on YouTube
There are viewers or section of your audience who support creators by buying their merchandise.
Some of the merchandise you could sell include t-shirts, hoodies, mugs, caps, or even niche-specific products related to your content.
YouTube even allows you to connect your channel directly to merch platforms like Teespring.
This allows your product to appear right below your videos, making it easy for your viewers to buy.
Merchandise works very well if you have a strong community on YouTube or unique branding.
It is worth noting that selling merchandise is not just about selling a product, but about ensuring your fans feel that they are part of your journey too.
Crowdfunding & Donations
Crowdfunding and donations are also ways you can make money on YouTube today.
This is an idea where your audience might just want to support you or your creative journey directly.
Platforms such as Patreon, Buy Me a Coffee, and Ko-fi are examples you can use.
YouTube’s own features like Super Chat and Super Thanks, allow your audience or fans to donate money to you.
The idea is not to rely on this monetization strategy entirely
However, it does provide a way for you to earn money on YouTube and increase your monthly revenues.
Crowdfund and donations on YouTube work well if you provide high-value content such as tutorials, educational videos, or entertainment that the audience enjoy on a regular basis.
These strategies can also be used for specific projects, like raising money to create a documentary, upgrade your equipment, or launch a new series.
Licensing Your Content
One way of making money on YouTube is through licensing your content
Licensing is a way to get paid for work you’ve already done, which makes it an excellent bonus income stream
In very simple terms, licensing is a way to get paid for the YouTube videos you have already created and published on YouTube
Basically, you license or allow other companies or entities to use your content.
This could be for their own marketing, for websites, or media outlets.
For example, news stations, blogs, and advertisers are often willing to pay for the rights to use high-quality video clips
What this means is that if you create unique, original, and viral videos, you can make money on YouTube using those assets.
Drone footage, time-lapse videos, animations, or trending short clips can all be licensed, allowing you to generate extra income from your work.
This monetization strategy does not require building a huge audience.
You just need to create content that is valuable or in demand to your target audience.
Licensing means you grant someone else, a TV show, brand, publisher, or even a platform, permission to use your video under set terms
The terms include where it can run, for how long, and for how much.
Unlike YouTube ad revenue, licensing pays you for the right to use the clip, not the views on your own channel.
Deals usually fall into two buckets: (1) clip licensing to media/brands and (2) catalog licensing, where a company pays you upfront and collects the ads from your back catalog for a fixed period.
Conclusion
As I conclude, I do hope that you now understand that YouTube provides you with various ways to earn money or generate an income with your YouTube channel.
The key is to just start, create content consistently, and then add monetization methods
It is possible for you to start with one income stream on YouTube, and then increase the income streams as your channel grows.
With patience and creativity, you can turn your YouTube channel into an income-generating online business that generates cash flow every month.
This would allow you to create a profitable online business, and improve your personal or business finances.
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