7 Best Ways To Make Money On YouTube In 2021
Social media has to be one of the things that took over the world by storm. With so many social media channels available to the world population now, it has become quite easy for people to communicate and share information with the whole world. Among some of the top social media channels in today’s age is YouTube. Around the world, there are 5 billion YouTube videos that are being watched every single day. YouTube is gaining popularity at a very fast rate as users are spending an average of 40-45 minutes every time they log on to YouTube.
Now that YouTube has become so popular, and billions of people are using it every day, it is time to figure out ways to earn money from this amazing platform. Making money through social media isn’t as simple as it sounds; it takes a great amount of patience and persistence, but once you’re determined enough to overcome these challenges, we guarantee you won’t find any better option to earn more money. All you need is video editing software along with a computer to start your YouTube channel.
There is a rich profusion of examples of people who are earning a staggering amount of money through their YouTube channels, just by putting in minimal effort. For instance, a young kid Ryan has his channel named ‘Ryan’s Toy Review’ where he plays around and disassembles toys and gadgets. To your and our surprise, this kid earns a whopping $22 million just by doing this much!
A vast majority of people are of the opinion that making money on YouTube is exclusively for artists, skilled people, influencers, and musicians. It’s time to get rid of this misconception since the channel is now open to literally everyone as a means to earn money. There are a plethora of opportunities for people to make money by taking up any routine activity they are good at or are interested in and making good, catchy videos on it.
That being said, you will have to plan it carefully and be very strategic with your approach. This blog will guide you about different ways to start making money on YouTube right away. Let’s shed light on all the effective ways you can incorporate in your YouTube strategy to make it successful.
Making Money On YouTube
There’s no doubt that making a handsome amount of income through YouTube by becoming a content creator is a realistic possibility in recent times, but it’s not free of complications. In any place where you see a lot of competitors, it must be noted that the ocean is red, and in order to turn that red ocean into blue, you have to be innovative and different to stand out from the crowd. There are four hundred hours of video uploads to YouTube every minute from across the globe. These are genuine statistics, and numbers don’t deceive. This is why you cannot take this competition for granted, making money online a challenging task. Let’s get through some effective strategies you can employ to kick start your earning potential through YouTube.
1. Using Affiliate Links On YouTube To Monetize Your Channel
Affiliate marketing has grown to prominence lately, and there are innumerable examples of people who are earning plenty of money through this approach. By promoting affiliate links, know that you have an immense earning opportunity on hand for your channel if you’re offering complete, in-depth tutorials for products or services. Take the example of recommending a product where a user visits your link to purchase, and you’ll start earning commission through it. The most convenient method is to position these links at the start of your description for your viewers to see it, and then you can speak about it at the end of your video or anywhere.
Just like bloggers place affiliate links in their blogs, enticing people to click on them, posting affiliate links on YouTube is no different. However, it must be noted that spamming your viewers with plenty of links can backfire badly. You must never pour a lot of affiliate links all across your YouTube content and expect to earn money. Social media users nowadays are very smart, and they are only attracted to stuff that looks genuine and is promoted in the right manner. You should never forget that people will only follow the links you post if they think you are a genuine source.
This is why you will have to establish trust with the audience you’re targeting. In order to build this trust, put all your focus on identifying the problems your audience is facing, and then you can provide concrete solutions to eradicate those issues through video tutorials. The best way to achieve this is by creating videos and sharing your own experience where you encountered a similar problem and accomplished it. If your tutorials are descriptive, explanatory, easy to understand, and have decent graphics to attract people, there’s nothing that can stop you from reaching your goals.
Furthermore, you have the option to be a part of a great many affiliate programs. You can join plenty of different programs in one place on some famous affiliate network. Awin and Shareasale are the two most prominent channels.
If your video channel hasn’t aged, and you’re looking to monetize it through affiliate links, the best approach you can employ to enhance your revenue earning chances is to start a blog along with the YouTube channel. On this blog, you can add affiliate links along with the YouTube channel. You can monetize your YouTube channel as well as have a website on a platform you own.
If you’re considering starting a blog, the first and foremost thing to do is getting in touch with a hosting provider. Bluehost web hosting can be your go-to hosting provider. Blue is the official WordPress web hosting platform and once you sign up with this, you won’t have to worry about anything for your website.
2. Earn Through Ads and Become YouTube Partner
Ads are one of the most effective ways to earn money through any online channel; be it Facebook, Instagram, Google, or YouTube. A lot of YouTubers consider ads as the most integral revenue stream. Moreover, by becoming a partner with YouTube, you have the option to earn money in many different ways. You have the option to earn money through ads before your video even starts. Channel memberships and Google AdSense banner ads all come before your video.
That being said, there are some basic rules that you must adhere to if you’re looking to become a certified YouTube partner along with some important actions you will have to take to get started. There are some ad rules you will have to abide by for YouTube, but other than that, you will also have to accumulate at least 4000 video watch hours on your channel in the last year and have a minimum of 1000 subscribers on your channel. Then only you can have ads placed on your videos.
The good news is that there is no set timeline or approach to get these 4000 hours to get started. A lot of successful YouTubers get 100 hours each on 40 of their videos, but this is up to you. You can use any combination to amass a total of 4000. If you look at some of the most talked-about and viral videos, you have the example of the international sensation Gangnam style. This dance music video took a long five months from the date it was uploaded to get to 1 billion views, whereas Despacito was very quick to achieve this figure by hitting the 1 billion mark in only 97 days! Surprisingly, the “Baby Shark Dance” video made to attract children only, has achieved 7.8 billion views as of January, indicating that anything can hit the success mark if you’re dedicated enough.
You can start earning a significant amount of money from ads once you’ve successfully achieved the 4000 hour-threshold and becoming a YouTube partner. To know that you can now tap into YouTube monetization, look for the green “$” label next to your videos in the video manager. This will indicate that you can now start earning. Recently, there has been a lot of complaints and issues people have lodged against ad spamming while they’re watching videos. This is why YouTube premium has allowed for removing ads for viewers if they choose to subscribe and pay a monthly fee. However, YouTube still assists in supporting the video creators by paying money on the basis of the percentage of total watch time.
You should also note that you cannot only rely on advertising to generate revenue from your YouTube channel. Though ads generate a significant amount, if you’re only narrowing down your horizons to this one approach, like what most people do, you’re limiting your options. There are a lot of other avenues through which you amalgamate your earning streams and potential on YouTube.
3. Get Fund From Your Fans And Make Money On YouTube
Once you’ve spent a considerable amount of time and you have built a good loyal fan base for your channel, here onwards you should look for ways to encourage them to crowdfund your channel. Crowdfunding is a great way to fund your videos and maximize profits.
There are various platforms like Patreon, which brings you the option to get paid for your content in the most seamless manner. Your fans have the option to subscribe to their favorite channel at a very minimum amount, as little as $1. They also have the option to win some great rewards from their chosen content creators.
Another amazing service is Tipeee which enables you to make the most of recurring payments as well as one-time donations.
Fan-funding and crowdfunding are being used by a lot of people. Profit-seeking as well as NGOs, all are making great use of these fan-funding methods with their audience to have their video channels run smoothly. You will definitely see your viewers be as generous as you can think of them to be, provided that your content is well-made, relevant, interesting, informative, funny (if the genre is a comedy), and entertaining.
4. Get SEO for Your YouTube
If you have spent some time in the video creation domain on YouTube, and you’re failing to attract a considerable amount of followers for your channel, you will have to step up your approach by taking up the SEO option for your YouTube channel.
The SEO process is very long and time taking, but for starters, you can put in some effort in doing proper keyword research. Try having a different thinking approach depending on what your audience, in particular, are searching for on YouTube. After this, shortlist the high-value keywords and use them in your video title, description, and video tags.
Once you have launched your SEO campaigns, you can track the performance of your keywords and the traffic you’re getting on your YouTube on “traffic source: YouTube search”. This will provide you a report to get a fair idea of what people are searching for when they look for your hosted videos.
You can also head over to Google as it will provide video results for keywords on many topics like reviews, tutorials, and other video terms.
Furthermore, there are other key YouTube SEO ranking elements that you need to take into account while formulating your strategy, like:
- The number of comments you’re getting
- Number of subscribers after watching a video
- The ratio of Thumbs up to thumbs down
- The video duration
- Click-through-rate on the search results of YouTube
5. Fully Utilize Your YouTube Marketing Funnel
You need to kick start your marketing funnel right away to build your revenue streams from the work you love the most. You will have to optimize and improve your YouTube channel in order to generate sales. Start by selecting a particular niche, for which you will create content. Remember, making content for everyone, or choosing to offer content for everyone is never a good strategy. You will have to know which segment of the market will be happy with your work. Once you choose your niche, you can then become a YouTube partner and start earning good loads of money from it.
Know that YouTube is a great way to disseminate and spread your message across your market segment, but if you’re looking to enhance your revenues and get big, make sure you use your YouTube in unison with a blog. Through this approach, you will be able to gather more email addresses, more data, ultimately leading to more traffic, and eventually, you’ll be able to sell more products to your fans.
For instance, you can utilize your writing skills in making a good blog about an affiliate product or service that you want to recommend, you’ll be attracting a good amount of audience from there, and then you can repurpose that content and make a YouTube video attached in the post. Followed by this, you can direct your YouTube users back to the blog and to the affiliate links. This will not only help you in earning commissions but also assist in building your blog for readers.
In truth, there are endless possibilities to earn through YouTube, One more option is to attach your YouTube channel with several prominent eCommerce channels like Shopify, Magento, and sell merch.
6. You Can Choose To Become An Amazon Influencer
Amazon is known for its amazing diversification. From acquiring a plethora of other companies through their horizontal integration approach to building their own supply and retail using the vertically forward and backward integration, this company has become a giant in a very short period. Talking about Amazon, its influencer program is also becoming very famous. The Amazon influencer program enables you to enhance and improve your YouTube or whole social media presence by making money through Amazon recommendations.
Once you join the program, you can then review and recommend products, as well as bring your viewers to Amazon for them to buy products/services using the affiliate links. As soon as your users will click through and make any purchase on Amazon, you will immediately get your commission cut, which is generally around 8-10% of the total price.
The drawback with Amazon influencer programs is that it’s not available for everyone. The program will check several metrics that include follower count on social media and other things before it gives you approval. You will have to spend a good amount of time and effort on your channel to make your presence on Amazon.
7. Get Additional Gains From YouTube Red Subscribers
Ever heard of YouTube Red? This allows all users to pay $9.99 and view YouTube without any ads. However, ad-free does not mean it will remove your chances of earning money from your channels. Content creators can still make money. Based on the view time, 55% of the total revenue can be generated. There are a lot of mixed viewers on whether YouTube red improves or diminishes the CPM rates. You need to take into account that with YouTube Red, the watch time matters a lot. Therefore, you will have to keep tabs on your YouTube analytics to continuously keep an eye on the statistics of watch time and video engagement.
The Amount Of Money You Can Make On YouTube
You have the option to optimize and improve your revenue potential through all the approaches mentioned above; ad monetization, selling sponsored placements in the videos, affiliate links, and more.
On your YouTube channel, you’re entitled to make money through ads on the basis of CPC, CPV, and CPM. A typical YouTuber makes around $7.60 per 1000 views with cost per impression. Despite all that, content creators get 55% of their earnings by Google policy, which is accrued from advertisements and Google keeps 45%.
Also, if you’re a channel owner using affiliate marketing, advertisers disburse the payment using several unique models- generally, this is done through cost per sale or cost per lead. In this approach, your earnings are directly linked with the number of conversions and sale cuts you get from advertisers.
In addition to this, you also have the option to sell sponsored product placements in your videos. Over here, YouTube video makers make money when they sell short mentions and even through extended product recommendations on brands while searching for exposure. That being said, if you have created a good following on your channel, you will be paid by brands. The price paid by brands ranges from $20 to $50 for every thousand views they bring on your channel.
To put this into perspective, if their video on your channel goes over a million mark, you will be enjoying $20,000 to $50,000. This is by far the best strategy to monetize your channel if you don’t have millions of views.
How Much YouTubers Are Earning?
For all the famous YouTubers, this can go up to million dollars or even more a year. Making money is getting more and more complex with every passing day since ad revenue can range from $0.35 to $5 per view. All in all, how much profit your channel earns depends on your niche and the number of views. Content creators who fall in highly-watched niches like makeup, sports, celebrity gossip, international current affairs, or news are able to quickly pull great revenues with millions of views. Moreover, there are also YouTube revenue calculators to assist you in understanding how much money you can earn depending on the video engagement and views.
You can earn a significant amount of money on YouTube if you apply the right approach. Use the preceding tips to make money on YouTube in 2021.