How to make money online 2: Youtube
Of course we know that if we have millions of views on YouTube or a huge audience we will make good money, but what do you do if you have a small channel or are just starting?
So, we continue with the series on how to make money online. In this case we will see how to get it on youtube. We will review five strategies to earn income on YouTube with a small channel.
1. Become a YouTube partner
The YouTube Partner Program is the way that regular YouTubers get access to special features on the platform.
YouTube partners have access to multiple sources of revenue - not just ads, but also YouTube Premium subscription fees and features leveraged directly by their users like Super Chat, channel memberships and the product shelf.
Step 1. Start a channel
Step 2. Make your channel successful enough to meet the YouTube Partner Program requirements
To join the program, you need a minimum of 1,000 subscribers and 4,000 hours of observation in the last 12 months.
Step 3. Set up an AdSense account
This is simple. Just follow the official YouTube guide for AdSense accounts.
Step 4. Explore your new monetization features
Each monetization channel has different eligibility requirements. For example:
Advertising Revenue: To earn advertising revenue, you must be at least 18 years old and create content that is advertiser-friendly. Basically, the less controversial your videos are, the more YouTube advertisers will feel comfortable posting ads on them and the more money you will earn.
YouTube Premium Revenue - If a YouTube Premium member views your video, you automatically get a share of their subscription fee.
Channel Memberships: To sell channel memberships to your subscribers (i.e. your fans choose to pay you an additional amount), you must be at least 18 years old and have more than 30,000 subscribers.
Merchandise shelf: To sell merchandise from YouTube merchandise shelf, you must be at least 18 years old and have at least 10,000 subscribers.
Super Chat Payments: If you want your fans to have the ability to pay to make their messages stand out in your live chats during your live broadcasts, you must be at least 18 years old.
Step 5. Submit to ongoing reviews
As a YouTube partner, your channel will have a higher standard, according to YouTube. You must follow not only the YouTube Partner Program policies, but also the Community Guidelines. Not to mention staying on the right side of copyright law.
2. Sell your own merchandise
Maybe you identify yourself first as a content creator and second as an entrepreneur.
Alternatively, you can be an entrepreneur first and a video creator second, which means you probably already have a product and are designing your YouTube marketing strategy to sell it.
Either way, merchandise is a viable way to earn money from YouTube.
Step 1. Imagine and design your product
The merchandise for your channel is intended to represent and nurture the audience's connection to you. That means that your merchandise must be unique.
Hawaiian YouTube star Ryan Higa launched his Ninja Melk milk-based energy drink to take advantage of the popularity of his viral comedy, Ninja Melk. While it also sells T-shirts and other products from its online store, the appeal of Ninja Melk is broad enough to have its own website.
Pro tip: You may have more merchandising ideas than you can possibly store. Then start by dipping your toes in the water with one or two elements. But be sure to involve your audience in the decision-making process. Survey them about what they want. Or build excitement by offering unique products related to huge subscriber count milestones.
Step 2. Search and / or create your product
In most cases, you will need a manufacturer, supplier, or wholesaler to manufacture and deliver your product. Some vendors will deliver it to you and others will save you the hassles of inventory, shipping, and returns by handling it themselves.
If you're not sure where to start, check out Shopify's instructions on finding a physical company to make your dream come true.
Step 3. Create your store and landing page
You will need a separate website to handle purchases. If you want to link to it directly from their videos (and it does), check out YouTube's list of approved product sites.
Step 4. Enable YouTube Partner Merchandise Shelf
YouTube partners can also use the shelf feature to sell their channel merchandise. If you're eligible, follow YouTube's instructions to enable it.
Step 5. Promote your product in your videos
HereThis is where its charm comes in. Use your merchandise in your videos. Introduces viewers who have purchased it and are using it.
And don't forget to add your store link to your video descriptions, and it includes end screens and flashy call-to-action cards.
3. Create sponsored content
You don't have to be on Instagram to be an influencer. The advantage of the #sponcon strategy is that you don't have to give YouTube a share of your earnings. You negotiate directly with the brand and they pay you directly. No wonder YouTubers is a popular way to earn money.
If you can offer brands a large and / or engaged audience, and your content is relevant to their target market, they probably want to hear from you.
Step 1. Find a brand to partner with
Quality is important when it comes to the names you work with. You probably already have a dream brand wish list. Whether you are aiming for the stars or developing in the base style, be sure to perfect your brand tone before shipping.
Also consider signing up with an influencer marketing platform. These are intermediary websites that help marketing teams find appropriate influencers to work with. FameBit was one of the first to focus on YouTubers, for example.
Step 2. Make a deal
According to this recent study by influencer marketing platform Klear, YouTube videos are, on average, the most expensive type of sponsored content that brands can buy from influencers. Basically YouTube influencers can charge more for their videos than they would for Instagram stories or Facebook posts, because producing videos is more expensive.
While their rate will vary based on your audience size, engagement, and relevance to your potential partner, know what their value is before signing a contract.
Step 3. Be transparent about your #sponcon #ad
Sponsored content is advertising. This means that you need to make sure you are up to date with Google's advertising policies. Both the FTC (USA) and ASA (UK) have guidelines that you should also consider if you are American or British.
Transparency is good for your legal health, but also for your relationship with your audience. YouTube has a visible disclosure feature to help you ensure that your audience knows what you are advertising to them.
4. Use crowdfunding
Requesting donations online is now common. Whether you are looking to generate continuous income from a set of small monthly donations, or if you want to finance a personal project related to the channel. The key is to build trust early.
Step 1. Set up a crowdfunding account
YouTube has a list of approved crowdfunding sites to choose from.
For recurring financing, Patreon is the best option. Meanwhile, sites like GoFundMe or Kickstarter are best for one-off campaigns to get a new microphone or a new laptop.
Even well-known names like Walk Off the Earth have used Patreon to fund their projects, be they music videos or feature films.
Step 2. Promote your campaign in your videos
Detail your specific goals so people know exactly what to expect when you are successful.
Plus, it offers attractive benefits to accrue as your fans choose how much they want to donate.
Step 3. Go beyond YouTube
A successful campaign is a cross-platform issue.
5. License your content to the media
When a video goes viral, all the media want to get a copy to play for their audience. Fortunately, established media companies are aware that they need to pay for what they use. And voila, you have another way to earn money on YouTube.
As a content creator, licensing your most successful work to the media can be as simple as making sure it's easy to find.
Step 1. Keep your contact details updated on your "About" page
Even if you don't have a business manager, set up a generic email account to which you can direct your business inquiries.
Jukin Media is a great place to start. Even if you don't have a viral video, the media often needs timely images to complete their reports.
For example, Jukin has a full catalog of "newsworthy" videos that you can contribute to, if he has exclusive images of a major natural disaster or global news.