9 Best Ways How to Make Money on Youtube in 2023
Youtube is one of the best social media channels that a person can leverage to reach more target customers, attract them to his/her business, convert them and grow their income.
More and more people are consuming video content on a daily basis. The site has more than 122 million users daily.
This data proves that the channel is a great place to connect with the target audiences and monetize your business.
You could be thinking? Yes, the site gets a lot of visitors each day and they’re consuming different content. How can I turn them into my customers and make money on youtube?
This article will give you the best tips and ways you can use Youtube to your advantage and start generating income for your business.
If you are totally new and don’t even have a business, don’t worry. You will still learn how you can start out with the Youtube channel and grow.
Ready to learn?
Is Building a Youtube Channel Still Worth it in 2023?
Having a youtube channel is the best way to draw target audiences to your business. Here is an example of Ahrefs Youtube channel Showing some of their youtube videos.
As you can see, the above channel has more than 281K subscribers. They come in search of a solution to their pains.
After watching several videos they click through to the business website where they learn about the business.
They see the value of the business and some end up becoming customers. It all started because Ahrefs created a Youtube channel and posted helpful and educative videos to their target audiences.
How many youtube views you get for your videos also determines the growth of your channel and your business at large and how you make money on youtube.
Your acquired customers can become brand ambassadors and draw even more customers to your business, increasing your sales and revenue.
Take advantage of Youtube videos to grow any kind of business that you have. But first, it is important to understand your target customers well before you start your marketing. Also ensure you have your own channel for marketing and promoting your business through Youtube.
How to Make Money on Youtube
Many YouTubers have made millions by creating video content that teaches, entertains, or reviews products. Also, you can start earning by implementing the following strategies.
Generate Leads for Your Business
YouTube is the king of content in regards to video. So, it’s a perfect platform to communicate your brand’s message, helping you generate many qualified leads for your business.
To maximize YouTube’s sales potential and generate more leads, you should optimize your content to make it more visible. You can add ranking keywords to your video titles. Also, your videos need to answer questions, educate viewers, and offer calls to action (CTAs).
To reach more target audiences and draw them to your business ensure you create and optimize your videos for increased Youtube video views.
You can also use video ads to generate leads for your business through youtube. Use the keywords your target customers use in their search for information on Youtube.
It will make sure your target audiences see your video content, engage with it and help you build trust with them to easily convert them into customers and help make more money for the business.
To generate qualified leads, ensure that the keywords are the most popular in your industry. Besides, add your keywords to the titles, thumbnails & also incorporate them in the video description.
You may also take full advantage of the YouTube cards, which are the interactive cards that pop up at the end of the videos. Use the cards to share links relevant to your video content.
One of the successful entrepreneurs and digital marketers, Neil Patel uses his channel to drive leads to his businesses.
His Youtube channel has almost a million subscribers and his website gets more than 3M monthly visitors. Most of those visitors are generated through his videos on Youtube.
He creates different content about digital marketing to attract and engage the right target audience for his business.
Because his viewers see the value of his videos and his marketing expertise, they engage with his channel, click through to the website and end up becoming leads for his business.
Use affiliate links on Youtube
Another incredible opportunity to earn money from YouTube is by promoting affiliate links.
Many businesses and individual people are making a huge income from affiliate marketing.
Statista research shows that businesses will spend more than 8.2 billion dollars on affiliate marketing by 2023.
Invest in this strategy if your channel offers in-depth tutorials or helpful product reviews.
So, how do affiliate links work on YouTube?
For example, if you recommend a product in one of your videos and a viewer clicks the link to buy it, you will earn commissions. The higher the clicks, the more money you make.
As a video creator include the affiliate links in the first few lines describing the video. If you use ads, you can also include the affiliate link in youtube ads. Don’t forget to talk about the links in your video. Tell viewers how the links will help them.
You can even share videos that provide solutions to problems you have previously solved yourself. That way, you’ll earn your audience’s trust and win more subscribers.
The good news is that there are several affiliate programs you can join to start earning on YouTube. The most popular affiliate programs are Awin, Shareasale, and Click Bank.
If you want to start making money with affiliate marketing on Youtube, there are many people you can learn from.
Adam Enfroy is one of them. He is making a lot of money doing affiliate marketing and promoting products both with Youtube and his website.
In addition to selling affiliate products, he has a system to create videos to educate his target audience about different marketing strategies like affiliate marketing.
Here is also a report from his website that shows his earnings by June 2021 from affiliate marketing were more than $218K.
Source: Adam Enfroy
Signup for Youtube partner program
YouTube’s Partner Program allows you to make money through ads, which is the preferable option. It provides access to a Copyright Match Tool to protect your content.
Once you join the youtube partner program, you have to adhere to all YouTube’s monetization policies when monetizing your channel.
Before you make up your mind to join YouTube’s partner program it is important to ensure it is available in your region or country.
Here are the requirements you must meet to become a YouTube partner.
- Your channel memberships need to have at least 1,000 subscribers
- You need to have more than 4,000 watch hours for the last 12 months
- You must be living in one of the eligible countries
- You’ll need to link your Google AdSense account
Once you enrol in the program, you can make money right away. Most partners earn between $0.30 to $2.50 CPM, but some youtube partners make more than that.
Source: Bam Music Blog
How To Enable Youtube Monetization
So, how do you make money with your channel? Here are the steps to follow.
- Sign in to your YouTube account you plan to monetize
- Click the icon on the top right corner of your account
- Click the YouTube Studio
- Go to the left menu and select “Other Features” then “Monetization.”
- Read and agree to YouTube Partner Program terms.
- Connect an existing AdSense account to your channel or create a new one
- Set your monetization preferences
Once you’ve done that, you can get an idea of what you’ll earn on YouTube by clicking the Monthly Estimated Revenue in the Analytics tab on your dashboard’s left side.
Work With Brands As an Influencer
Many big brands have invested more in influencer marketing and are ready to spend more on influencers who have won the trust and loyalty of their audiences.
As an influencer, take advantage of the opportunity and make money on Youtube. Influencers like Brendan Gahan are already making thousands of dollars on the platform.
So, how much do you expect to earn on YouTube through influencer marketing?
Here is the potential amount of money you’ll earn as an influencer based on your YouTube audience, according to WebFX.
- YouTubers with 10,000 subscribers: $200 per video
- YouTubers with 100,000 subscribers: $2,000 per video
- YouTubers with 1,000,000 subscribers: $20,000 per video
You can negotiate for a better deal with your partner brand and increase your potential to make money, depending on your audience demographics, content uniqueness, and content quality.
You can get started by adding your channel to top influencer marketplaces like Crowdtap, Channel Pages, and Grapevine Logic. Then, both small and big brands will discover it.
Doubting how much money an influencer can make from youtube using the influence of their audience?.
Here is an example that will help solve your doubts. Dude perfect is an influencer with a Youtube channel with over 56 million subscribers.
From his channel, he generates more than $23 million, good cash, right? And of course, he is one of the highest-paid YouTubers. Youtube is a great revenue stream for his business.
Crowdfunding is another reliable way to make money from Youtube, especially if you have many loyal fans. It is essential to have YouTube SEO in mind to reach the right audience. For example, you can encourage them to help you fund your new videos.
Let them know some of the expenses you’ll incur to create new content. For example, you can use the money to hire actors, buy new equipment, or cover other production costs. You also need to create a great video description that will help the target audience understand well why you’re sourcing for funds. In your description use youtube seo as the only way to improve video search.
To ensure that crowdfunding is successful, you have to be creative and be a youtube marketing expert. For instance, you can create an exciting video explaining the project and offer a taste of what it will be like.
One of the crowdfunding sites you can consider is Kickstarter, which is ideal for financing new products and creative projects. Alternatively, you can use Indiegogo to collect funds.
This way of generating income is mostly suitable for brands or individuals who want to run a great project and want support from their audience.
A great example is the “Veronica Mars Movie Project that managed to raise more than $5M for the project. This is a perfect example to show youtube pays as you generate income for your business.
Sell Your Own Merchandise
Selling your merchandise has benefits beyond revenue. Thankfully, you can sell products through your channel, including coffee mugs, T-shirts, snapbacks, tote bags.
Merchandise puts your personality and online brand into the offline world, increasing your exposure. It also deepens your relationship with the fans with interest in what you do.
There are several eCommerce platforms you can use to sell merchandise. YouTube itself has a Merchandise Shelf to allow you to market your products and make money on youtube.
To earn on YouTube with this strategy, you must have a large number of followers and keep making videos to attract the right buyers. However, you can start small and build up to a level you’ll be making consistent income.
A merchandise store that has performed well on the platform is The Report of The Week. The channel makes around $3.1K every month from sales of the merchandise.
Source: The Report of The Week
To showcase your branded merchandise on YouTube, you must meet the following eligibility requirements.
Source: YouTube Help
The sale of merchandise on youtube is not entirely related to the traffic on your channel. But having a huge audience plays a great role in the marketing of products through the Youtube channel.
This strategy also works like crowdfunding because it allows you to outsource funds from the fans. You can set up your fan-funding streams to get donations from your audience.
Source: Quarter Lab
With this strategy, you contribute your voice to your channel without forcing the audience to pay admission fees. If your content is good enough, your audience might support you.
Most funding platforms have a place allowing people to discover the creator’s content. Also, the platform can engage the most loyal viewers and reward them for giving support.
Here are some of the most popular funding platforms to consider.
- Buy Me A Coffee: Allows artists and youtube creators to accept membership fees and donations from their fans. It boasts over 300,000 creators and also an increasing revenue stream. It’s one of the best ways to get paid on youtube.
- Channel Memberships: Allow viewers to support your channel through monthly payments to get channel members-only perks in return. How many members you have increases the payments you get.
- Patreon: This platform makes it easy for YouTube video creators to receive payment. Fans subscribe to the youtube creator channel with as little as a dollar monthly to get rewarded.
- Tipeee: This platform allows you to enjoy a combination of both recurring and one-off donations from your fans and make money from youtube channels.
- YouTube’s Super Chat: Super Chat allows you to create a tipping jar for viewers to donate at any time, especially when live streaming on YouTube. The live chat stream helps engage fans for the channel.
License Your Content to Other Media Companies
If one of your videos goes viral, let’s say a funny clip, you can license it in exchange for money. TV news outlets and online news sites will have to pay you to use the video.
Marketplaces such as Juken Media allow you to list your viral content. As a result, the chances are high that potential clients will find it easy to locate and purchase your youtube premium videos.
Source: Juken Media
Since media outlets always prefer high-quality content, it’s essential to ensure that you get high-quality videos. They will want to play the videos to their audience, especially the viral video.
So, if you have videos that the media outlets might need to use on their sites, then ensure that the videos are easily accessible by adding your business email to your channel.
With viral content, you can sell channel memberships and get more business using your channel and pay you for that.
Having a great business as your youtube premium members can help you make money for your brand.
Popular media networks such as CNN, NBC, FOX, and CBS always use Juken Media to find video content to post on their websites. Therefore, you stand a chance of making money.
Here is what to do to maximize your earnings on YouTube through content licensing.
- Sign up with video sites like Jukin Media
- Highlight the most successful content on your YouTube account
- Add your business email to your channel profile and video descriptions
Earn from Youtube Red Subscribers
YouTube Red is a subscription service with an enhanced YouTube experience as it also has a subscription to Google Play Music. In addition, it unlocks exceptional features for viewers.
YouTube Premium subscribers have to pay $9.88 to enjoy watching YouTube videos without interruption by ads. However, don’t worry about not earning anything from them.
Even without the ads, content creators on YouTube can still make money based on the view time. However, it’s not clear whether YouTube Red decreases or increases CPM rates.
Your watch time matters a lot when it comes to YouTube Red. A great watch time for youtube videos can increase youtube premium revenue for your channel. For that reason, check your YouTube analytics to see your statistics, including watch time and video engagement.
One of the YouTubers who is making money this way is Mike Mu. He shots videos related to lifestyle, tech and travel.
He also helps give reviews for brands who want their products reviewed. The businesses he reviews their products pay him and he makes good money doing it.
Selling youtube premium subscriptions is one of his revenue streams for his business.
Who Makes the Most Money on YouTube?
Here are the highest-paid Youtube stars (from last to top) in 2020, according to Forbes.
- Ryan Kaji, $29.5 million (30.1 million subscribers)
- Mr. Beast (Jimmy Donaldson), $24 million (65.2 million subscribers)
- Dude Perfect, $23 million (56.5 million subscribers)
- Rhett & Link, $20 million (41.8 million subscribers)
- Markiplier (Mark Fischbach), $19.5 million (29.6 million subscribers)
- Preston Arsement, $19 million (17.4 million subscribers)
- Nastya (Anastasia Radzinskaya) $18.5 million (75.5 million subscribers)
- Blippi (Stevin John), $17 million (12.9 million subscribers)
- David Dobrik, $15.5 million (18.3 million subscribers)
- Jeffree Star, $15 million (16.4 million subscribers)
Here is a report by Statista showing the data of top earners using the Youtube channel.
Things to Consider Before You Start Your First Youtube Channel
You are about to create a new channel, but you don’t know where to start. Here are some of the factors you need to consider.
- Who’s going to watch your videos on YouTube?
You have to figure out who your target audience is. That will help you share content that matches the viewers’ interests, helping you increase the number of subscribers.
It will also help show the expertise of your business and the value that you can deliver to the target audience.
Creating the right videos will not only attract larger audiences but the right ones that are more likely to convert into customers.
You should keep creating more videos covering different topics. It increases youtube views and engagement from target customers.
- How will you be monetizing your channel?
There are many monetization techniques on monetizing YouTube, and you can choose one based on your niche. The good news is, we’ll look at all the possible ways to monetize your channel.
- How frequently will you upload videos on your channel?
Once you know the type of content to upload, you need to set your production schedule. For example, how often will you be creating videos and releasing them? Will it be once or twice a week? Because your true audience will expect consistent quality content from you.
- What equipment do you need to shoot videos for your channel?
It would be best if you acquired equipment to help you create high-quality videos. You’ll need video editing software, a high-quality camera, a tripod stand, and a microphone.
They will also help you maintain your online presence and draw more audience to your channel and improve youtube views.
If you can’t afford the high-end equipment, you can start small and upgrade later. For example, you could start with your smartphone’s camera instead of the actual camera.
Don’t let the lack of equipment be an excuse but make it an inspiration instead.
- How will you promote the channel?
Like with other businesses, marketing is everything. For that reason, you need to promote your channel through forums and social media platforms.
You can promote your channel by implementing YouTube SEO, interacting with your audience, and collaborating with brands. Also, you can invest in email marketing.
If you have a website, then link your Youtube channel to your website. Your target audiences can click through to your channels and consume your different video content.
This helps in building trust with your audiences as they get to know your business more and see how you will help solve their pains.
How Much Money Can You Make on Youtube?
Source: Social Blade
The amount of money you can make on YouTube depends on several factors, including the monetization strategies you use. For instance, you can make money from ads on a CPM.
With the CPM (cost per impression), you can make around $7.60 per 1,000 views. However, you can maximize your earnings through affiliate links and by promoting sponsored posts.
Notably, content creators only get 55% of the earnings accrued from advertisements, as Google pockets 45%. Google takes that percentage to cover all its costs.
If you’re using affiliate marketing on your channel, advertisers will disburse payments through various models. For example, it can be through cost per lead or cost per sale.
How To Sell Without Annoying Your Audience
Even as you implement the nine aforementioned strategies, don’t let the promotions sabotage your content’s integrity. Otherwise, you might end up annoying your audience.
Use the following tips to sell without annoying the audience.
Use Well-Timed YouTube Cards
Youtube cards can help you capture the attention of engaged viewers since they look catchy. So, use them whether you want to sell products for your business or another brand.
The good news is that you can set the cards to pop up when you want them. However, they have to be less distracting and relevant to improve their impact.
Include a Call to Action in the Videos
You’ve probably heard a YouTuber saying, “If you would like to watch such videos, then subscribe to my channel.” That’s a call to action, and it plays a vital role on YouTube.
You can also adopt this strategy to direct your viewers’ attention to revenue-generating opportunities. For example, you can send the viewers to your website or marketing funnel.
Your youtube viewers will not just make a purchase after watching your videos. To make money from youtube you need to include a great and captivating CTA that will compel the readers to take action and convert into customers.
Add Links to the Video Descriptions
By adding links to your descriptions, you can direct viewers to your e-commerce store, Kickstarter campaign, or Patreon page. That way, you’ll make more profits on YouTube.
Also, you can include affiliate links in the video descriptions to generate revenue. For example, you can check this video and the description that contains links.
How to Make Money on Youtube FAQ
What are other ways to make money on youtube without ads?
Besides advertisements, you can also earn income on YouTube using these strategies.
Can I make money on youtube as a kid?
Yes. However, YouTube doesn’t allow kids under the age of 13 to create their accounts or channels. Also, children aged 13-17 can only open the accounts with parental permission.
Notably, parents can use their details to create accounts for their kids under the age of 13. Ryan Kaji (9 years old) and Anastasia Radzinskaya (7 years old) are excellent examples.
Do you get paid for uploading videos on YouTube?
No. Content creators don’t get paid whenever they upload videos on their YouTube channels. Instead, they’ll only make money after enabling monetization on their channels.
After setting up monetization, the content creators will access options to have their videos listed on YouTube Premium or join the YouTube Partner program.
How much is 1000 views worth on Youtube?
It depends on factors like the number of clicks on advertisements and the location of the content creator. These factors contribute to your average cost per impression (CPM).
The general rule of thumb is that you’ll earn $0.75 – $1.00 per 1,000 views for banner ads. But for ads that play before videos start, expect to earn $6 – $7 per 1,000 views.
How many subscribers do you need to start making money?
You need to have at least 1,000 subscribers and 4,000 watch hours to start making money on YouTube, according to the eligibility requirements of the YouTube Partner Program.
Besides the 1,000 subscribers, the watch hours must be within the last 12 months. You will also need an active Google AdSense account to enable YouTube monetization.
Having an extra source of income can make a huge difference in your sales and business earnings.
If you have been researching the best tips to use to generate money from youtube, the article has shone some light on that.
You have also seen first-hand proof from some business owners using Youtube to make millions of money. You too can make a great income from the channel.
Use the above tips and take action towards growing your business with Youtube. Start a youtube channel and monetize it in a few ways. Keep adding different ways as you grow and scale your business.