While you could earn ad revenue through the YouTube Partner Program as a new YouTuber, it isn’t the only way to make money on YouTube. Like blogging, there are numerous ways to monetize your YouTube channel.
Besides the partner program, here are five other ways to make money on YouTube. You can pick one or combine them to increase your earnings.
Contents
- Crowdfunding
- Increase blog or website traffic to boost sales
- Affiliate Marketing
- Sell own goods or services
- Sponsorship/Advertisement
- In Conclusion
1. Crowdfunding
You can earn a living or fund a project by crowdfunding on YouTube. How much you get back from your crowdfunded donors depends on your topic. You could use crowdfunded funds to improve your production value or do specific topics. Typically, YouTube channel owners offer varying rewards based on contribution. More money contributed can earn you a shout-out in a video or something else substantial.
Crowdfunding can be recurring, like a subscription or membership model, or project-based, like helping fund a specific video or series that requires more investment.
2. Increase blog or website traffic to boost sales
You can use video marketing to promote your home business.
In the description of your YouTube video, you can link to your website or blog, allowing YouTube to drive traffic to you. Your website and social media accounts can also be used to promote the video. Viewers can also share it.
Then link to your online course where people can sign up to get all the lessons.
Another example is using YouTube to promote your blog. More traffic to your blog means more money from Google AdSense, affiliate marketing, and selling your own products.
3. Affiliate Marketing
No own product or service? No issue. Affiliate marketing on YouTube allows you to promote other companies’ products. Create a YouTube channel around a specific niche and find affiliate products and services that solve your target market’s problems. To find quality baking equipment and healthy food options, you can join Amazon’s Associate program or other companies that sell baking supplies.
Simply include product links in your YouTube video description. Remember to include any required affiliate disclosures.
You can use YouTube to promote affiliate products as well as share your tools and resources.
4. Sell own goods or services
Because YouTube has such high traffic and effectiveness, many home business owners rely on it exclusively. Instead of a blog, they use YouTube to build trust and rapport with their market.
Demonstrations, sharing your expertise and tips, answering questions, doing tutorials, and more are all ways to sell your products and services via video.
5. Sponsorship/Advertisement
If your traffic is steady and growing, you may be able to sell ads or secure sponsorships before you qualify for the YouTube Partnership Program. Selling ad space or getting sponsors can also earn more than the YouTube Partner Program.
In Conclusion
Your success on YouTube, like any other business method, depends on how well you attract your target market. You can promote your videos using tools and resources like keywords and social media without an expensive video production system. Growing your YouTube channel should be part of your plan if you want to make money.
Also, because YouTube is a social media platform, you should engage with your audience and respond to their comments and interactions.
More YouTube views and audience interaction means more money. Indeed, some entrepreneurs make a living from YouTube.
The ability to market and make money with YouTube is a great way to become a famous vlogger or add video to your existing business.