5 Ways To Make Money On YouTube
“Thousands of people are cashing in on youtube“, reveals the Head of YouTube’s Partner Program, Bing Chen. Today, like never before, makeup enthusiasts, Pilates instructors, music DJ’s, and people from just about every walk of life are making money off of each viewing of their YouTube video.
What is so astonishing is that 99% of the most successful individuals on YouTube are the average everyday people who happened to have a bit of nerve, good timing, and talent thrown in for good measure.
1. Become a YouTube Partner. The simplest and most common way to make money through YouTube involves partnering directly with YouTube and effectively splitting the money that is made off of ads. This includes both the ads that play during and before your videos, as well as the banner ads that are shown to the right of your video on YouTube.com. For a detailed breakdown of the various ad units, as well as where earnings for each are displayed, check out this recent article from Chris Atkinson at ReelSEO. The biggest advantage of the YouTube Partner program is the convenience: it’s easy to get up and running and start earning some revenue. However, it’s going to be tough to get rich this way; only a very small portion of YouTube partners make the big bucks.
2. Sign up your own sponsors. There is, of course, another way to make money off of YouTube: cut out the middle man and sign up your own sponsors. If you’re able to build a substantial audience, you’ll have the ability to sign up sponsors for your programming who want to advertise their products and services to your target audience. There’s no simple formula for signing up sponsors for your program; it all depends on your audience, the number of potential sponsors, and their budgets. But if done correctly, this can be a very lucrative source of revenue for YouTube channels.
3. Promote your own merchandise. While many YouTubers focus on the “direct” monetization routs available, perhaps the biggest potential in video is in the opportunity to promote other products and services that are moneymakers for you. Giving away free video content can be a great way to make money–if you’re effectively promoting merchandise or services that your free users will pay for. If you have products or services to sell and a YouTube audience that would be interested in purchasing them, this might be your best monetization opportunity.
4. Go freemium style. YouTube can be a great way to generate leads for your paid services, and a “freemium” business model can be a great way to turn on the masses to your paid product. This concept is pretty simple; give away a bunch of content for free on YouTube, but hold back some of your best stuff behind a paywall on your own site. If you can get a big crowd to enjoy your free content, odds are that you’ll be
5. Get an affiliate deal in place. If you don’t have a great premium product to sell, find someone who does–and cut yourself into their revenue stream. If you have a large and/or targeted audience, find a partner whose products you can promote in your videos and hash out a way that you can get credit for sending clients their way! Affiliate deals can be tough to monetize if there are no obvious partners for your channel, but there’s a huge opportunity here if you can effectively become a spokesman for another company in your videos.