online Earning

5 Ways To Make Money On YouTube In 2023

The growing creator economy has created many different ways to make money on YouTube. While some methods offer a lower barrier to entry than earning through ads, there is no substitute for quality content and an engaged audience.

If you tap into your creative side and are willing to put in a lot of effort, you can make money on YouTube. Here are some monetization methods to explore.

How to get paid on YouTube?

1. Earn through ads as a YouTube Partner Program member
2. Take it easy with affiliate marketing
3. Create a brand deal and sponsored content
4. Sell some stuff
5. Provide members

1.Earn through ads as a YouTube Partner Program member

Let's get this out of the way first. To earn money from ads, you need to join the YouTube Partner Program. You cannot become a YouTube partner until your channel exceeds the 1,000-subscriber threshold. You will also need 4,000 hours of observation time in the last 12 months. Check those big boxes and it opens the door to ad revenue.

Some additional requirements apply before you can become a partner:

• Your videos must comply with YouTube's monetization policies.
• You must live in an eligible area.
• You need to link Google AdSense account.

To track your subscriber and see time progress, click on "Monetize" section in YouTube Studio. YouTube will let you know when you're eligible to apply.

As a YouTube partner, you can earn money from ads, chat features, and YouTube Premium subscribers who watch your content. Notably, in 2023, YouTube will begin allowing YouTube partners to earn ad revenue on shorts. Shorts are YouTube's version of short-form Tik Tok-like videos.

How many views do you need on YouTube to make money?

You will not get paid per video view. Instead, you get paid for the number of times someone views or clicks on an ad displayed on your video.

Influencer Marketing Hub says that while fees vary, the average YouTube channel can expect to earn about $18 per 1,000 ad views. This translates to $3 to $5 per 1,000 video views when you factor in the percentage of ads you actually see.

When do you start making money on YouTube?

You will be paid once your balance reaches $100. Say you need approximately 1,000 video views to earn $4 from viewers who saw ads. You need 25,000 video views to earn $100 from those ads.

If you have a small channel, you will get paid only once every few months. You should also be aware of how Google, the provider of AdSense payments, handles taxes.

2.Take it easy with affiliate marketing

Affiliate marketing is a very practical way to monetize your YouTube traffic, especially if you plan to create product review videos. It works like this:

Find a company or seller with an affiliate program like Amazon Associates and apply to join.

Once accepted, you'll use their process to create custom links for the products you plan to feature in your videos.

Demo, review or mention products in your YouTube videos and paste your custom marketing link(s) in the description field when you upload.

As a brand affiliate, you earn a commission when a visitor clicks on your custom link and buys a product.

Amazon Associates is a great way to make money on Amazon, and there are endless other opportunities. Search affiliate marketing sites like ShareASale and ClickBank for potential corporate partners and product features. You can also search the websites of your favorite brands for information on how to become an affiliate.

Don't forget to properly inform your audience about your association with the brand or brands, and don't forget to point out the "link in description" when you shoot your video.

3.Create a brand deal and sponsored content

Companies interested in your channel's audience can sponsor your videos or offer you product placement deals in exchange for shoutouts known as Brand Deals in Bizz.

The operative word here is "audience", which means these types of deals are more likely to present themselves as you build a following. As your channel grows, you can reach out directly to brands you want to work with or use resources like the aforementioned affiliate marketing sites to find corporate partners that complement your content style.

With brand deals, you can get a lump sum, a commission based on a sale, or get the product or service for free.

Remember: If you have consent or use product placement in a video, you must notify YouTube by ticking the box in your video details.

4.Sell some stuff

If you have merchandise or offer a service that is relevant to your audience, let them know about it and provide links in your videos. For example, Marquez Brownlee, creator of the popular tech review channel MKBHD, leaves a link to his own t-shirts and accessories in every video he posts.

Selling a physical product requires you to buy the products or find a manufacturer, but you can also sell downloadables like e-books, art prints, or virtual classes. Have a secure payment method in place before promoting your products.

Incentive to sell: While creating your own products is harder than other companies' products, you can make more money this way because you keep the majority of your income as the product owner.

5.Provide members

Membership model is another way to monetize visitors. With this method, fans of the channel pay a small subscription fee for privileges and/or exclusive access.

Patreon is a popular third-party membership site. YouTube is slowly rolling out its own channel membership feature, but you'll need to be part of the YouTube Partner Program to qualify. As always, more visitors mean more revenue. Offers such as one-on-one video chats, private classes, or other perks can entice visitors to become paid members.

How much money can you make on YouTube?

Breakout YouTube stars with millions of followers earn a lot of money and easily reach seven figures. But even lesser-known content creators with a small following can make a solid income on the side or full-time.

According to Forbes, Steven John, the creator of the very popular children's channel Philippi, earned $17 million in 2020, including 8.2 billion views and 27.4 million subscribers on YouTube. That kind of success is the exception rather than the rule.

Kelly Anne Smith, a personal finance YouTuber with 50,000 subscribers, earned about $900 in ad revenue as of March 2022, according to Business Insider.

Earn visitors and earn more in the long run

YouTube gives everyone an opportunity, but it's not a get-rich-quick platform. Making money on YouTube requires time, effort and an engaged audience. The good news is that with a little motivation and a lot of practice, you can find ways to earn even before the coveted 1,000-subscriber threshold.

Keep these tips in mind as you get started:

The more videos you create and upload, the easier it is to hit the watch time limit.

If you target your content to specific audiences or niches (eg, film photography), your audience is more likely to subscribe for more.

Thoughtful, entertaining videos are more likely to get views, so it's worth putting effort into planning and production.

Don't underestimate the power of a targeted headline and unique thumbnail to grab your audience's attention.