Monetizing your YouTube channel is easy. Partnering directly with YouTube and splitting the earning that is made off of AdSense ads is the most common way to make money through this platform. However, there are many ways to earn on YouTube other than ads. From sponsored videos to merchandising, the following are some popular ways to earn on YouTube:
1) Sponsored Videos
A sponsored video is where you take money from a company and in return use your videos to promote their product or brand. Content creators generally do this in a funny and smart way that suits their specific style.
Before you use this method to earn money on YouTube, it is recommended that you work on the following things:
- Fix your niche and branding.
- Identify the type of companies that are suitable for your specific niche.
- Initially, grow with the small guys, e.g. small and local businesses. Aim for larger companies only if you have built your reputation.
- Use sponsorship marketplaces in order to get sponsored videos. Some recommendations include Channelpages, Izea, and Grapevine.
2) Merchandising
While many YouTubers focus on the ‘direct’ monetization methods available, the opportunity to promote other products and services that are moneymakers for you is arguably the biggest potential in the video. You can make money by giving away free video content. However, you will need to effectively promote merchandise or services that your users will pay for in order to ensure success. In short, if you have services or products to sell and a YouTube audience that would be interested in buying them, this might be a great monetization opportunity for you.
Also read: How does monetization work and the only important thing to get monetized faster!
3) Affiliate Marketing
If you don’t have a premium product that you can sell to your YouTube audience, then find someone who does and cut yourself into their revenue stream. If you have a large audience, find a partner whose products/services you can promote in your videos and figure out a way to get credit for sending consumers their way. Without obvious partners for your channel, it is going to be difficult to use affiliate deals to monetize, but if you can effectively become a spokesman for another company in your videos, then there’s a huge opportunity here.
4) Channel Membership
Channel Membership is another great way to earn on YouTube other than ads. It is a feature of YouTube that allows eligible creators to collect a monthly subscription fee from their biggest fans. In return, fans get access to exclusive content, badges, and perks from their favourite content creators.
5) YouTube Premium
Formally known as YouTube Red, YouTube Premium is this platform’s answer to Netflix. Under YouTube Premium, subscribers can enjoy ad-free videos, play the YouTube app in the background, enjoy unique and original content, and more. YouTube Premium is a great way for creators to generate some extra revenue as the platform shares some of its Premium revenue with creators based on views, watch time, etc. that they earn from Premium subscribers.
As you can see, there are a number of different ways to earn on YouTube other than ads. Choose the method that best suits your preferences. The possibilities are virtually endless; so are the earnings.