When you’re thinking about starting a Youtube channel (or if you’ve already got one up and running), there’s always one question that pops up eventually: “How do you make money on Youtube?”
That’s a great question because there are three different monetization strategies. I’m going to walk you through each of them so you know how to make money on Youtube.
Rather watch that read? Head on over to my Youtube channel where I cover all three strategies!
1. The Youtube Partner Program
This is a program you can be eligible for once you have 1,000 subscribers and over 4,000 watch hours. It is not based on how many views your video gets.
The money maker?
Utilizing this program, you get paid for all of the ads that are being shown on your videos. On my channel Viciloves, for example, I’m in the Youtube Partner Program and I get paid for all of the ads that are being shown on my videos on that channel. Google then pays me every month through the Google AdSense account that I have set up.
There is a huge misconception out there though, that you make tons of money once you have joined the Youtube Partner Program and that is the only way Youtubers make money. That is simply not the case! While AdSense can certainly be profitable for big channels, for most creators out there, it’s just a small piece of the revenue pie.
2. Sponsored video content.
This strategy works in collaboration with other brands.
The money maker?
A company will reach out to you and pay you (or gift you something) in exchange for featuring their product or service in one of your videos. Sometimes, they’ll want a dedicated video created solely around the product or service of their choosing.
If this is an avenue you’re interested in, keep in mind to only partner with brands and companies that you genuinely are a fan of that you would spend your own money on. The last thing you want is to post a video of a product you actually wouldn’t use and possibly jeopardize the trust of your audience. Ultimately, they (your audience) are the most important asset on your channel.
3. Using links in your description box (also my favorite way..!)
These can either be affiliate links or links to your services and products. They can also be “book now” or “contact me now” links – but they all live in your description box. The reason this is my favorite strategy is because the people that click on your links are already somewhat interested in what you are talking about!
The money maker?
At this point, your audience is pretty warmed up because they’ve heard you speak about something of interest to them and they now want to learn more (a.k.a join or buy your offer).
Having these links readily available is critical to giving your audience the information they need to make a decision.
The best part? This strategy is not dependent on your Youtube channel size – whether you have one subscriber or 10,000 subscribers, everyone and anyone can link things in the description box. So, take advantage of it!
You can also update your description box if you currently have videos out there that are just sitting around. I would highly recommend going into your old videos, updating your description box, and putting your links out there for your viewers when they come across your videos.
I hope these strategies help you figure out the best way for you to make money on Youtube! Let me know if you have any questions below and be sure to subscribe to my Youtube channel so you don’t miss my weekly episodes 👍🏻.