A popular question I seem to always get is “How do I make money on YouTube?”
I actually wrote an eBook about this topic that you’ll receive for free when you join the Channel Empire email club. However, I’m a video lover so I decided to do what I do best. Here are the top 6 ways to make money on YouTube.
The easiest way to start making money on YouTube is through advertisements, and this is done by enabling monetization on your YouTube videos in your account settings. Enabling monetization will link your YouTube channel to your Google Adsense account. Once you are approved you can enable advertisements on your videos. Ad types can be text or display pop-ups or skippable video ads called pre-roll ads. When your viewers watch a pre-roll ad or click on a display ad you will earn a certain percentage of the fee that Google charges the companies for those ad placements. Simple.
In 2015 YouTube rolled out a feature called Fan Funding that allows viewers to donate money to their favorite YouTube channels. When you enable Fan Funding in your YouTube account settings, your channel will now have a Support button for the donations to be made. Another popular donation service (or crowd funding) for YouTubers is Patreon where an automatic monthly donation can be made by supporters.
Almost anyone can sign up for a free Amazon Associates account, and if you’re approved then you can start sharing any Amazon link with your own unique code. If anyone clicks your link and buys that product (or anything on Amazon for the next 24 hours) then you will earn a small commission from Amazon for referring that customer. Pretty cool, right? There are also many other popular affiliate sites such as CJ, ShareASale, iTunes, and Rakuten. Sharing affiliate links is a great way to recommend products and services with your audience. It really is a win-win situation for both you and your viewers.
It seems like sponsored videos are becoming more popular by the day. To put it simply, a sponsorship is when a company or brand pays a YouTuber to feature or mention their product or service in a video. An easy way to get sponsorships for your YouTube videos is through a site called FameBit. If you have at least 5,000 YouTube subscribers you can join FameBit for free and it’s one of the easiest and fastest ways to get linked up with brands who want to sponsor your videos. If you don’t have the minimum number of subscribers to join FameBit, you can always reach out to brands manually and pitch them an idea for a sponsored video.
Selling your own product or service and using YouTube as the main content platform and traffic source is one of the best ways to earn income from your videos. For example, I do videos for people who want to create a successful YouTube channel. During these free videos I can also mention and link to my site where I sell my own online course YouTube Formula: How to Get 10,000 Daily Views. The people who watch my free videos can also benefit from my paid course and if they buy my course then hey I just used YouTube to make a sale. So to put it simply you’re basically linking probably to your own website or a site like eBay or Etsy or any place that sells some type of merchandise. Maybe you’re selling a live event. I know a lot of people are starting to do live events and charging tickets to those live events and also I know a lot of fitness YouTubers sell merchandise. That is a huge thing in their industry. So really you can sell almost anything to your YouTube audience as long as it fits their needs and desires.
This is probably the most interesting and exciting way to make money from YouTube. I like to use Rory Kramer as an example. I mentioned him in a previous video as one of my favorite YouTubers. He’s made money from YouTube by creating opportunities for himself by uploading the type and style of videos that he wants to make. He has a passion for it, and he uploaded videos for years without any type of planned income strategy. But after he started doing it consistently he finally got noticed and got an opportunity to film and produce a music video for Avicii. Now he’s Justin Bieber’s video guy after directing the “I’ll Show You” music video. So even if you make $0 from the previous five ways, the opportunities that will come your way if you consistently upload quality videos will be worth it alone.
Bonus Tip: How Not to Fail
You can’t really start a successful YouTube channel when your only focus is making money. If that’s your only goal, it won’t work out. You have to start making videos based on content that you want to create, and you have to love the entire video creation process. You need to be creating and sharing videos about a topic that you truly enjoy. Stay true to yourself. Don’t think about the money because once you focus on something that you love doing, the money won’t matter and then at that point the money will magically start to appear. That, folks, is how to make money on YouTube. Enjoy the ride.