Considering the ever increasing amount of success stories on Youtube, a lot of individuals and businesses ask themself how to monetize their Youtube channel.
While most people have heard of Youtube networks that you can join, there are also a few other methods to monetize your content.
5 Efficient Ways To Monetize Youtube
Today, we will have a look at 4 methods to make money on Youtube.
The most popular and known method is by monetizing your entire Youtube channel for ad revenue. As soon as your content is monetized, ads will start to appear next to your videos.
Anytime a visitor clicks on those ads, you share your revenue generated by that ad with Youtube.
While Youtubers are not allowed to talk about their specific ad generated income, it is said to be somewhere between 1$ per 1000 views, up to several dollars per 1000 views.
(Which depends on several factors such as the conversion rate and whether you are part of a network or not,etc.)
Another popular method to monetize Youtube, is creating sponsored or branded content. Essentially, you discuss or review a product which was sent to you by a company and in return they will compensate you for the video.
Oftentimes, you are also allowed to keep that product you reviewed for free on top of your payment. However, this method has a downside which should be mentioned:
If you already established a solid and loyal fanbase, you may sacrifice your authentic relationship with your fans, which may backfire. For this reason, it is very important to be transparent and properly label a video in case you do decide on creating sponsored videos.
In case you are either a very creative, artsy person or already somewhat successful in terms of average views per video, you may want to think about merchandising.
A lot of Youtube content creators sell their own t-shirts and mugs, containing their logo or funny inside jokes. This option is especially popular in the gaming or vlogging community, where you have more in-depth ways to bond with your fanbase.
Luckily, there are a lot of free and also paid online stores that allow you to create your own merchandising fast and easy. Personally, I’d recommend using Spreadshirt.
Don’t underestimate this option: A lot of Youtubers make more income from selling merchandise than ad revenue.
Shoulder niche products
A lot of content creators on Youtube with a great sense for marketing, diversify their income streams with shoulder niche products. Let’s explain this further with the following example:
If you would create videos on really interesting and captivating topics, it would be a reasonable option to start writing a book.
The reason: Your viewers already know what to expect of your video content and if you manage to really impress them with your Youtube presence, you are more likely to convince them in other venues as well. Books are a prominent example, because people generally expect to pay for them. (It’s an established business model)
As a musician, you could try to organize your own tour with the help of a few of your collaborators. Fans, especially in the genre of music, love to watch their favorite musicians play live and they also don’t mind paying for it either.
Thus, promoting and selling your additional products through Youtube works like a charm.
Recently, Youtube introduced their own subscription based service called “Youtube Red”. While the concept of subscription fees is not yet fully established, it seems to be a promising one, considering the amount of emerging platforms that are already available.
A great example is Patreon: Support The Creators You Love.
This platform allows your fans to fund you or a specific project on a re-occuring monthly basis. The advantage: You are less dependend on ad revenue. You can easily include and promote your Patreon link in your video and channel desciption. As you can tell, there are ways to monetize Youtube without actually relying on the platform.
I think it’s safe to say that ad revenue is still the biggest source of income for most content creators on Youtube. However, with the ever-increasing demand of customer relationship and the popularity of crowdfunding, there will be much more options to leverage Youtube in the future.