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Youtube is the second most sought after search engine after Google and rightfully so. According to stats, an average individual spends at least 30 to 40 minutes on Youtube watching videos. These two revelations alone make Youtube a lucrative business prospect.
Is It A Possibility?
Yes, you can indeed earn money on Youtube by merely making videos, but that’s not everything. While making money via Youtube is a possibility, but it isn’t the easiest, and it is not for the ones who want to be rich overnight.
Can You Do It?
If you got the patience and dedication, then earning more than a few bucks off your video content is just a matter of time for you. You need to be committed to your Youtube channels long to get a few hundred views on all your videos.
How to Earn Money on Youtube?
You might have skimmed everything we said so far to read through this section quickly and honestly; we don’t blame you. This is the core of our blog, so strap up your seatbelts and hold tight because it’s about to get technical here!
This is one of the go-to method of earning money for almost all Youtubers, experienced, and amateurs alike. Statistics show that an average earning Youtuber gets most of his revenue from ads that are shown on his Youtube videos.
Following is a brief account on YouTube ads:
- Preroll: These are played before and after your Youtube video and can’t be skipped. Such ads guarantee a view; hence, they are paid per viewing. These are represented in streaming videos instead of regular ones, and their duration is thirty seconds.
- Bumper: These are five to six seconds long ads that are played before a regular video. Just like Preroll, they can’t be skipped.
- Banner: These ads are horizontal banners that show at the bottom of most Youtube videos and can be skipped. You get paid if someone clicks on that banner and visits its landing page.
- Viewing Ads: These are thirty seconds ads, and to get paid, viewers need to watch it till the end without skipping it.
These were just the necessary know-how on the types of Youtube ads to get you started. You must fulfill specific requirements to be eligible to partner up with Youtube.
- You must follow Youtube’s rules and guidelines strictly; otherwise, your channel will get suspended or restricted.
- You must have at least 1000 subscribers and 4,000 watch hours under your belt in 12 months.
How does it work?
There is no set formula that can help you fulfill these requirements, and you must experiment to know what works best for you. The most beneficial thing you can do for yourself is to put up exciting content that can hook your audience.
You can reach your goal of watch hours within days if any of your videos go viral. It isn’t easy to get a video viral, and most social media outlets like Twitter and Facebook play a vital to get anything trending and noticed.
The more traffic you’ll receive, the higher will be the chances of getting revenue from ads. Advertisers want their ads to be seen so it won’t be wise to pay to display your ads on a video that only a few people will watch.
Once you start getting ads for your content, you’ll be paid as follows:
- Cost per click (CPC): This is a forgotten mode of payment, and not many websites accept this mode of cash nowadays. Youtube is among them, though there may be exceptions.
- Cost per thousand impressions (CPM): You’ll get paid between .50 cents to around $10 for a thousand ad impressions. These prices will vary during celebrations, festivities, and on important national days.
- Revenue per thousand views (RPM): This payment method is mostly for ads that can’t be skipped but is used for other ad types as well. The percentage of profits between Youtube and Youtuber is 45% and 55% of the total revenue.
Get Yourself an Adsense Account
Once you join the Youtube Partner Program (YPP), you’ll have to sign up for an AdSense account to collect your earnings. It isn’t too hard to do so; you’ll find the “Monetization” option in your channel’s settings. From there, it is easy to navigate your way around.
This is the second most popular way of earning on Youtube and is in no way behind on profits compared to YPP. It is mostly used by Youtubers who review items from different niches. This is only possible if you have a loyal fan following that trusts your recommendations and advice.
- You must have a loyal fan following that follows your advice.
- You don’t have to be famous to get an affiliate link, but a substantial number of subscribers boosts your commissioned percentage.
How does it work?
While reviewing an item or recommending a solution to your viewers, you can add a pop up in your video and ask your viewers to use it for their purchase. You should tell them that you’ll commission from their investment, so they don’t feel wronged.
For instance, a Youtuber reviewing a book will put an affiliate link of an online bookstore to guide their viewers. Youtubers likes HaileyInBookland have affiliate links from Book Depository or Book Outlet.
Join Affiliate Programs
There are plenty of affiliate networks that you can join to explore endless opportunities and build connections in the Youtube community. Systems like Impact and CJ ensures that you become part of as many affiliate programs as possible relating to your niche.
Caution: You don’t have to be part of every affiliate program to maximize your earnings. No matter how tempted you are, you can’t drown your viewers with an affiliate link after every one minute in your videos.
It isn’t unlikely that your audience will get tired and skip to another video.
Fan-funded Channel & Content
This is another mode of earning that depends on your followers and their love and support for you. This is a huge leap of faith that a Youtuber might take to finance their expenses, but there aren’t any downsides to it, so why not go for it?
- You must put up engaging and exciting content on your channel to build your fan following.
- It is hard to break through niches like gaming and reviewing, so make sure you are doing something unique and out of the box.
- You should be able to provide extra benefits and bonus content to those who are funding your channel.
How does it work?
All you need to do is make good content and make a good case about your financial situation in front of the viewers. If you don’t want to, you can add a Patreon link at the end of your video and in the description with a promise of providing bonus content for those who help you pay your bills.
Register yourself at Patreon & the Likes
There are plenty of dangers and scams lurking around on the internet, which is why a website like Patreon and Tipee come in handy. They are safe and will help you collect your funds and keep track of them conveniently.
Design & Sell your Merchandise
Once you have established yourself as a Youtuber, then you can design your merch and sell them to your fans. It is an easy way to earn some extra bucks, but you must work immensely to be able to pull this off.
Mostly art channels and promotional channels launch their self-produced merchandise early in their career as a Youtuber.
- You must have an aptitude of an artist or a designer to produce quality products.
- You must have the necessary know-how of e-commerce businesses.
- Being connected with a reliable website that can sell your merchandise or you can launch your website.
How does it work?
Mostly Youtubers get in touch with e-commerce businesses that use drop shipping mode of dealing instead of retail. When there is demand, your product will be shipped to the buyer’s address without you breaking a sweat.
Collaborate with e-commerce platforms
There are plenty of e-commerce marketplaces that are eager to give the space you need to market your products. Shopify, Alibaba, AliExpress, Etsy, and many more are popular sites to sell your merch. You can explore other options to choose what’s feasible for you.
An Amazon Influencer
Amazon influencer programs are getting popular recently because of the feasibility they offer. These programs are much like the affiliate programs we’ve mentioned before, but they are solely designed for Amazon products.
- The number of your social media followers impacts your eligibility for this program exponentially.
- You shouldn’t have any controversial views about specific issues at least not something that can be found when you are searched online.
How does it work?
An amazon influencer gives you free rein to review and recommend products bought at Amazon. You are also provided with an affiliate link that your followers can use to purchase your recommended products.
Sign up for Amazon Influencer Program
If you are confident about your social media following, then you can apply for these influencer programs easily. Mostly allows you to take away commission of at least 8% to 10% that is equal to other non-amazon affiliate programs.
Live Streams & Super Chats
This is another way that helps you earn money off your Youtube subscribers. Live streaming via Youtube and doing unique things that your audience asks you to do in exchange for money is standard practice. Most fans also pay to boost the rank of their comments so that you can see them and read out loud.
- You must have a Paypal, Patreon, or Tipee account to facilitate the transfer of funds.
- You must be willing to do what is asked of you while setting limitations at the beginning of your stream.
How does it work?
An apt knowledge on live-streaming sites like Twitch and the likes might help you understand Youtube live streaming. Head on to your Youtube settings and tweak the live streaming setting to fit your needs.
Be Active on Social Media
Apart from being active on your Youtube channel, you should build your social media reputation as well. This way, you can branch out to other websites and maximize your earnings exponentially. Once you gain the standing of a social media influencer, you can earn more than you ever did solely through your Youtube channel.
In conclusion, your Youtube channel opens doors to endless opportunities.
Meet & Greet Events
This method of earning is listed at the end because it isn’t something a newbie can achieve. Such things are possible only for people like Zoella and Mr. Beast, but it doesn’t mean an average earning Youtuber can’t throw their dice in this league.
- You must have enough fans that are ready to attend your event and meet you in person.
- You must have a place where you can accommodate the attendees effortlessly.
How does it work?
If you are arranging the venue on your own, then you might need to invest some money initially. To recover this investment, you must price the tickets for your event wisely. If you charge too much, your fans might think that you are ripping them off.
Contact Event Planners & Communities
It is recommended that you stay in touch with event planners and organizations so that they can invite you to their events. This way, you don’t have to invest in your meet & greet, and others can sponsor your activities while you collect the riches in the end.
Now, this is something that only pro league Youtubers can attain, but it is highly profitable. If you have an impressive number of subscribers and views on your videos that you can try to get sponsors to sponsor your content.
- You need to have a massive following to pull this off.
- You must have tact and negotiation capabilities to convince potential sponsors in investing you.
How does it work?
Most times you must work for it, but other times, sponsorships come to you. Youtuber Joe Sugg was able to prank Casper Lee by filling his car with Maltesers solely because he was sponsored to do so.
You should have a fetching idea that you can sell to potential sponsors, and before you know it, you will be getting sponsors to do all sorts of crazy things.
Some Frequently Asked Questions:
How much can you earn through Youtube?
It is difficult to pin down a specific number of earning that you can make through Youtube. Each Youtuber earns differently than the other, and it all depends on several variables.
For instance, you can earn around $8 per thousand impressions off the ad put up in your video. And you can be commissioned at least 8% to 10% and maybe more depending on the site you are affiliated to.
So far, we’ve detailed how a new Youtuber can earn money, but the making of established Youtubers go beyond a few hundred dollars. If a Youtuber’s video is gaining a million views, then they can earn around $20000 to $50000 easily. See, it’s all about how many views you are getting on your videos.
How many subscribers does one need to make money?
Your number of subscribers doesn’t specifically determine your earnings. They help you reach your goal to be eligible for YPP and later attract sponsors. They also are a requirement to apply for Amazon affiliate programs and the likes.
While Youtube is a reliable platform to earn money, it isn’t easy to break into this market. There are thousands of videos being uploaded on Youtube per minute, and the competition is insane. You have to think out of the box or use a unique approach to get noticed.