While at one time you could earn ad revenue through the YouTube Partner Program even as a beginning YouTuber, today, YouTube requires that channel owners have a total of 4,000 watch hours of video over 12 months, and at least 1,000 subscribers to be eligible for the YouTube Partner program. Striving to meet these requirements is a good goal, however, ad revenue isn’t your only option for making money through YouTube. Similar to blogging, YouTube offers a variety of ways to make money through your channel. Here are five additional ways you can make money from YouTube besides its partner program. You can choose one or combine them to maximize your income potential.
1. Drive Traffic to Blog or Website to Make Sales
Video marketing is an excellent way to promote your home business. Ways you can market your business on YouTube include:
- Introducing yourself and your business
- Behind the scenes views to your business
- Tours and demonstrations of your business
- Q&A to answer your market’s questions about your niche and industry
- Tutorials
When you create your YouTube video, you can include links to your website or blog in the description, and then let YouTube send traffic to you.
Further, you can embed the video onto your website and share it on social media for even more exposure. YouTube watchers can also share it. For example, if you have an online course, you can post one lesson from it on YouTube, and then include a link to your course where people can sign up to get all the lessons.
Another example is to use YouTube to bring awareness to your blog. The more traffic to your blog, the more money you can make through all of your monetization methods, such as Google AdSense, affiliate marketing, or selling your own products.
2. Sell Own Products or Services
YouTube has so much traffic and is so effective that many home business owners use it almost exclusively to promote their business. Instead of a blog, they use YouTube to share their expertise, tips, and insights to built trust and rapport with their market. Similar to driving traffic to your website through video, you can sell your products and services using demonstrations, sharing your expertise and tips, answering questions, doing tutorials and more.
3. Affiliate Marketing
Don’t have your own product or service? No problem. Through YouTube, you can promote other businesses’ products and service through affiliate marketing. To be effective, you should start a YouTube channel around a specific niche and then find affiliate products and services that will solve your target market’s problems in that niche.
For example, you can start a healthy baking YouTube channel, and find quality baking equipment and healthy good options through Amazon’s Associate’s program or other companies that offer baking supplies. Simply include the links to the products you’re using in your YouTube video’s description.
Don’t forget to add any required disclosures about affiliate links. Along with sharing the tools and resources you use, you can also use YouTube to promote affiliate products by doing reviews and demonstrations.
4. Ads/Sponsorship
Generally, you need good traffic to sell ads or secure sponsorships for a YouTube video, but it may be possible to get this type of income before you qualify for the YouTube Partnership Program if your traffic is steady and growing.
Further, selling ad space or getting sponsors has the potential to earn more than YouTube’s Partner Program, so it’s worth pursuing. To sell ads or get a sponsorship, you’ll need to reach out to brands with a proposal. In your proposal you’ll need to:
- Introduce yourself and your YouTube Channel. Make sure you indicate how your channel relates to their business.
- Share your YouTube Channel, and provide information on the level of engagement you have, including views, comments, likes etc. If you have a good social media following, you can include those numbers to give you more authority and show off your influence.
- Focus on how you can help the company, as opposed to talking all about you. If you’ve used their product, let them know and share how much you liked it.
- Pitch your idea. For example, you can do a review in exchange for a free sample of the product. Or you can do a shout-out about the company for a monetary payment.
- Have a media and sponsorship kit to share with potential advertisers and sponsors.
You can also join sponsor platforms, such as Famebit, to find and pitch brands for sponsorships.
5. Crowdfunding
It’s possible to generate regular income or project-based income using crowdfunding through YouTube.
Much depends on your channel topic and what your crowdfunded donors get in exchange. For example, you might use crowdfunded money to enhance your production value or do special topics. Usually, YouTube channel owners offer different rewards depending on the level of contribution.
Some rewards channel owners can give include a shout-out in a video or something more substantial for more money contributed. Crowdfunded money can be earned on a recurring, similar to a subscription or membership model, or project-based, in which people help fund a specific video or series that needs greater investments to be created.
Success in Making Money on YouTube
Like all other methods of making money in business, your success in YouTube depends a great deal on how well you attract your target market.
While you don’t need an expensive video production system, you do need to provide quality content on a regular basis and use tools and resources, such as keywords and social media to promote your videos. In fact, along with providing videos, people want to watch, growing your YouTube channel should be a part of your plan if you hope to make money.
Further, YouTube is a social media platform, so you should seek engagement with your audience, and be responsive then they comment and interact with you. The more YouTube views and interaction you have with your audience, the more money you can make. In fact, there are entrepreneurs who are making a living through YouTube.
Whether you want to become a famous vlogger or to add to video to your existing business to build an additional stream of income, YouTube makes it possible to market and make money all in one.
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