How to Make Money on YouTube in 2024?
Are you thinking about earning money from YouTube? Then you are at the right place. This blog post discusses how to make money on YouTube with some best and most effective strategies to boost and monetize your YouTube Channel!
YouTube is buzzing all over the world with an increased brand value of $29.71 billion in 2023. You can also notice the drastic increase in the rate of global advertising revenue of 12% than previous years. A survey report highlighted the fact that YouTube creators who have 100,000+ subscribers have been making money more than $2,000 from each video.
So, advertising revenue is the most effective strategy to earn money on YouTube, along with other best possible strategies!
Let’s read out the 7 most effective and popular strategies to Make Money on YouTube.
How to Make Money on YouTube: 7 Effective Strategies
Here, you can find the 7 most effective and success-guaranteed strategies on how to make money on YouTube with step-by-step guidance! You can follow these for more ad revenue, sponsorships, brand deals, and digital merchandise to make more money on the YouTube channel.
Strategy 1: Creating Sponsored Content
Social media influencers don’t always need Instagram to make money by creating a buzz! The additional benefit of a SponCon strategy is that you don’t need to give an earning percentage to YouTube! The brands will pay you directly after negotiating.
This SponCon is the best and most popular strategy for YouTubers to earn money.
Step 1: Build a Potential Audience Base
You can grow your audience base by just creating attractive and informative videos! You can share your videos on various social media platforms to grab the attention of viewers and build a huge audience base for your YouTube Channel!
Step 2: Research & Reach high-intent sponsors
You should always focus on quality while working with the sponsors. You definitely wishlisted your dream brands already! You have to research more and prepare an outstanding and catchy brand pitch for your dream sponsors.
You can also work with an influencer marketing channel that guides you in reaching the most suitable influencers to work along! InfluencerBay is one of those that helped YouTubers hugely in 2024.
Step 3: Generate sponsored videos with engaging content
You can create engaging sponsored videos that only focus on sponsored services or products by maintaining originality and offering the highest value to your potential audiences.
You should show the ways in which a sponsor’s ad offering provides a solution to issues or fulfills a demand effectively!
Step 4: Maintain transparency about Sponsored Ad
Maintaining transparency will always be in your favor while maintaining positive relationships with potential audiences. YouTube has its visible disclosure feature, which helps audiences know that you’re advertising your content or videos to them.
You should be aware of and follow Google’s Ad policies while making sponsored ads.
Step 5: Publish the content
You should now upload your engaging videos on your YouTube Channel by optimizing content titles, tags, and descriptions with relevant and specific keywords. Then, you should share it on social media platforms to find and reach more target audiences.
You can also engage your viewers with informative comments to enhance your online presence!
Strategy 2: Joining the YouTube Partner Program
Ads are the best possible revenue source you can always look for! Joining the YouTube Partner Program and starting monetization is the first and foremost step in the query “How to make money on YouTube” whether to make videos or content provider.
First, you have to be aware of and follow the monetization policies of YouTube! Once you hit 1000 subscribers along with 4000 watched hours yearly, you can apply for YouTube monetization.
Step 1: Create your YouTube Account
The first thing you have to do is sign in to your Google Account and then set your profile picture by setting up your YouTube channel. Then, you follow some steps to set up your account and customize it with an attention-grabbing name, a catchy banner, and a display picture.
Step 2: Assuring your YouTube channel follows all eligibility criteria
To join this YouTube Partner Program, you must cross the 1000 subscribers along with a watched hours of 4000 hours within the last 1 year!
Step 3: Enroll in Partner Program
Go to your YouTube Studio and tap on the monetization option. Join the Partner Program by agreeing terms and conditions. Now, You have to sit back and wait for the channel eligibility review.
Step 4: Setting AdSense account
Start by setting up an AdSense account with the help of your Google account if you haven’t any! Now link your AdSense account to the YouTube channel in YouTube Studio!
Step 5: Discover monetization features and set preferences
You can now discover different monetization channels for diverse eligibility criteria, and they are as follows:
Ad Revenue: The first thing you have to follow to earn from ad revenue is to complete the minimum age criteria of 18 years. You should also make advertiser-friendly content on YouTube, which can easily be run on a YouTube channel and make lumpsome money!
You can then set your specific ad placements and preferences to boost earnings!
YouTube Premium Revenue: You can get a specific amount of YouTube premium members’ subscription fee if they watch your Sponsored and engaging videos. To get this revenue, you have to make your content in a way that can be eligible for YouTube premium revenue.
Channel Memberships: Offer channel memberships to loyal subscribers for an additional bonus! You must follow the minimum age criteria of 18 years along with 30,000+ subscribers to sell the YouTube channel memberships to your potential fans or subscribers.
You can promote your YouTube Channel memberships to subscribers to join your channel and make money on YouTube.
Step 6: Earn money
After meeting all the eligibility requirements on YouTube, the monetization on your channel will get activated. Now, you can start generating revenue by setting specific ad placements and preferences in your YouTube videos.
You can also earn money from memberships and Premium subscriptions too! You can now track your generated revenue and make an effective content optimization strategy to boost the rate of revenue over time.
Strategy 3: Become an Affiliate Partner on YouTube
You can also join an affiliate partnership to make money on YouTube! If your YouTube audience base is lower in number but showing loyalty and engagement, you should start investing in affiliate partnerships.
You can now encourage your subscribers to visit the brand, and then you get a specific percentage or commission while they make a purchase by just clicking on your affiliate links.
You can follow the steps of the previously mentioned “Creating Sponsored Content” to set up affiliate partnerships, as they both are quite similar and get your money-making journey through YouTube going.
You can earn up to 1% to 90% commission from doing affiliate marketing by joining popular e-commerce platforms like ClickBank.
Strategy 4: Host Paid Workshops on YouTube
Step 1: Topic Identification to attract a high-intent audience
First, you have to choose an engaging topic with relevant and specific keywords to attract niche audiences who will likely pay you for your YouTube workshop!
Step 2: Structure & Content Planning for Workshop
Then, you have to plan the structure and content for your YouTube workshop by developing attractive content, such as vibrant slides! Make sure that your engaging content contains some call-to-action statements to influence viewers.
Step 3: Price setting for workshop
Now, you can set a specific price for your workshop on YouTube. The price can vary on workshop duration, faculties, and content! You also can offer an early-bird discount to attract more views or sign-ups.
Step 4: Promoting paid workshops on YouTube and other social media platforms
Thumbnails and attention-grabbing titles can be used to promote your paid workshops. You can also share client testimonials and short clips to grab the attention of viewers, too! Use other social media platforms, such as Facebook and Instagram, to reach a large amount of high-intent audience.
Step 5: Hosting the workshop
Finally, you can pick a specific time and date for your workshop! Offer clear instructions for viewers so that they can access your workshop easily. Deliver informative and engaging content to attendees to boost their workshop experience.
Strategy 5: Creating & Selling Digital Products
Merchandise is another major effective strategy to make money on YouTube!
You can also create different types of digital products and sell them on your YouTube channel to make money on YouTube. You can sell merchandise products such as books, coffee mugs, tops, tees, jeans, bags, sneakers, and backpacks, which have more than one benefit than just earning revenue.
You need to have different websites to handle selling Merch! You can also connect it with your YouTube Channel directly and then refer to the approved merchandise website list, which is approved by YouTube!
Selling Merch boosts your visibility by showcasing online brands in the offline store! This strengthens your relationship with your fanbase as they have been buying the products you are selling!
Kajabi is a famous and very popular site for creating and selling digital products! This also gives you the accessibility to live workshops and allows you to stream over YouTube to make money.
Strategy 6: Licence Content to the Media
Each and every news company of today seeks to get a copy of a viral video just to show this to their audiences again and engage them more! Major and popular media hubs are aware of the fact that they need to pay some amount for the content they have been using later!
And yes! You have got another effective strategy to make money on YouTube! Being a content creator, licensing the most viewed content to the media partners is as easy as finding you on social media platforms.
Step 1: Make sure to give updated contact information on the “About Page”
First, you have to make sure that your About page on YouTube contains all your current and updated contact information. You never know when is the perfect time to get attention! You can set up a normal email account or link a website for business-related queries and their responses!
Step 2: Joining a video rights marketplace
Newsflare, Rumble, or Jukin Media are some popular as well as trending marketplaces to start! Media hubs frequently require video footage for timely reporting if you still don’t have a viral video!
This video rights marketplace links creators with media buyers who are looking for catchy and viral video content. Finally, you can send your viral videos to negotiate some major terms of licensing.
Strategy 7: Crowdfunding
Donation requests over social media platforms are buzzing nowadays! Crowdfunding is the only way that most YouTubers nowadays make money.
Step 1: Create & Set up a crowdfunding account
You can get a list of approved crowdfunding sites for YouTube and choose wisely. For launching new projects and raising funds, Kickstarter and Indiegogo are the top picks for YouTubers!
At present, websites like Patreon and GoFundMe are popular for recurring payments and personal fundraising, respectively!
Step 2: Promote campaigns in your videos
Now you have to filter your particular goals to make your campaign successful, and people can expect that too from your mentioned goals!
You must offer attractive benefits or bonuses that grab the attention of your viewers as they have to choose how much they want to spend or donate.
FAQs on How to Make Money on YouTube
You have to hold 1000 subscribers and 4000 watch hours within 1 year for channel monetization and make money on YouTube.
You can see that YouTubers get paid using different methods and strategies such as sponsored content, joining partner programs, ad revenue, channel memberships, selling and creating merchandise, digital products, and affiliate marketing.
You can find multidimensional strategies to make money on YouTube, such as sponsored content, joining partner programs, selling and creating merchandise digital products, providing channel membership, affiliate marketing, ad revenue, and channel memberships.
Yes, of course! You can monetize your content on YouTube by just signing up for the YouTube Partner Program and following the eligibility criteria for YouTube monetization.
Risks of monetization of a YouTube Channel are copyright issues, demonetization of videos for violating policies, content theft, and ad revenue fluctuations, which might impact the performance of your YouTube Channel.
You can enhance your YouTube ad revenue by boosting your watch time, number of views, specific demographic targeting, and setting preferences for optimized ads to grab the attention of advertisers.
Sponsored videos are the ones that make collaborations among brands and creators to which brands are paying some amount of money to the creator to promote their offered products and services in creator videos. Through sponsorship videos and content, creators can also earn a commission from brands.
Yes, of course! Channel membership can also help YouTubers to generate revenue from YouTube. Audiences have to pay a monthly subscription fee to have accessibility over additional benefits offered by content creators like special emojis, informative content, and personal badges.
The major requirements to monetize your YouTube Channel are you need to have 1000 subscribers along with 4000 watch hours within the last 12 months. More importantly, you have to follow the YouTube Monetization policy rules and guidelines strictly to get monetized and make more money!