How to Make Money on YouTube: Four Effective Strategies
You can earn serious money from YouTube videos. And it might just be the most fun money-making trick out there. YouTubers make a fortune from creating content on YouTube and guess what? The highest YouTube earner is just 9 years old. Yeah! You heard right! Ryan Kaji pocketed $24.5 million from YouTube in 2020. Amazing right? Such is the potential in this market.
Let’s face it, making money as a YouTuber is not that simple, but if you’re consistent, dedicated, create value for your audience, and if you’re in a profitable niche, it is only a matter of time before you start earning big as a YouTuber.
Before we dive into the various ways you can make money as a YouTuber, it is important we address this important topic; choosing a niche.
What is the best niche for me?
Choosing a profitable niche can make you and choosing a non-profitable niche can break you… Even if you’re putting in the work. Gaming niche is one of the most profitable niches on YouTube as well as humor niche, prank niche, life hacks, failed compilations, animal videos, kid’s videos, celebrity gossip, and so on.
Keep in mind, targeting a profitable niche doesn’t mean you should go for an oversaturated niche. My advice? choose a profitable niche with less competition like sports niche, animal videos, and prank niche. Also, you can choose a saturated niche like the gaming niche, but make sure you give the audience something different from what others are offering. For instance, as a gaming YouTuber, you can leave contents around Fortnite and Minecraft out of your channel. These topics are already saturated and will slow down your growth.
Choosing the right niche and being consistent with giving your audience value is the shortest way to earning big as a YouTuber. Do your research, take your time, and go for a niche that you enjoy.
Now that we have answered the above question, let’s jump into how you can make money from YouTube;
Earn money from YouTube Ads
Earning through Ads is the first option for every YouTuber. Whether you are an on-screen or off-screen YouTube content creator, joining the YouTube Partners Program and setting up monetization is an important step. You can apply to monetize your content once you get 4k watch hours and 1k subscribers.
How to enable monetization;
- Sign in to the YouTube account
- Click the icon on the top right corner
- Then click YouTube studio
- Select other feature then click monetization
- Agree to the terms and conditions
- Connect an AdSense account to the channel (very important)
- Then set your monetization preferences
- Go back to the dashboard and click the analytics tab
- Choose revenue
- Then scroll down to the chart monthly revenue to get an idea of your predicted revenue
Sell products or merchandise
You can make money by selling your products on YouTube. But first, you need to have a huge following before this can be possible. The most important thing about being a YouTuber is to provide value to your audience, build a huge following and every other thing will fall in place. From popularity to wealth, you will have it all only if you dedicate your time and energy in building a successful YouTube channel.
You can sell anything from t-shirts to bags, snickers, beauty products, and so on. With a trendy YouTube channel, your merchandise can become a big brand in a short time and always remind them to check out your products in your videos or caption.
Every big brand has a YouTube channel… Have you ever bothered to find out why? It is because almost half of the world’s population use YouTube. YouTube can popularize your brand in minutes and get people to buy from you.
Work with brands as an influencer
Hmmmm, this is probably the easiest way YouTubers earn big pay cheques. Influencers around the world earn ridiculous amounts by advertising for brands on their platforms, be it YouTube, Instagram, Facebook, or any other social media platform. These brands know that you can help them make their products popular, that is why they pay influencers handsomely for their services.
The amount these brands will pay depends on your content quality, type of audience, niche profitability, content uniqueness, amount of followers, amount of engagement on your channel. To give you a rough estimate of what you can potentially charge, a mid-level influencer charges around $30 per 1k subscribers, or $3k per 100k subscribers.
Become an affiliate marketer for brands
This is a good way to make money on YouTube even while you sleep. You can become an affiliate marketer for top brands and earn a commission anytime they make a sale. How it works? It’s simple, you only need to advertise their product on your channel and earn on every sale the company makes. Sale percentage is up to you and the company to decide but this strategy is very lucrative and you don’t even have to do too much to start making money with this strategy.
Please do me a favor and ignore all the above strategies, at least for the first few months of your YouTube journey. All these money making strategies will fall in place if you spend the time creating value for your audience and racking up YouTube followers. Don’t let money be your drive if not you will fall off before you get to the promise land. Make sure you enjoy what you do, make sure you’re consistent, and soon you’re start cashing out big from YouTube. Remember, the reward is in the process, go through the process and you’ll surely reap success at the end.