Can We Make Money on youtube, is that so?
So, you have decided to start making money on YouTube but do not know where to start? Well, this article is going to tell you precisely what you need to know about how to make money from YouTube in 7 steps.
There are some things you need to know beforehand about starting to earn and make money. They are as follows:
- Read monetizing rules stated by YouTube and make sure that you regularly check for any updates or changes.
- Your income is not only confined to views but from other sources too.
- Your perspective about YouTube should not be looked at as a platform for monetization. It must be rather taken as an opportunity to facilitate your income.
Let us start!
Can you really earn money on YouTube?
- YouTube Partner Program
If you want to earn your money directly from YouTube. Then applying for the YouTube Partner Program should be something you should consider signing up for. Here are some stated eligibility rules for joining the YouTube Partner Program.
- It would be best if you abode by the stated guidelines which are, that your videos should have valid public views of more than 4,000 watch hours within the span of a year.
- Live in an eligible area.
- Your channel should have over 1000 subscribers.
- It would be best if you had a Google AdSense account linked.
In simple words, the more videos you will upload, the faster and more comfortable you will reach the required viewing hour threshold. Good content means a more significant number of views for your video.
When the requirements are met, you can enable the monetization feature for your channel. It can be done by clicking into your profile and clicking on the “Monetization” section.
As a partner of YouTube Partner program, you can make money via:
- Membership Benefits
- Super Chat: a feature that allows subscribers to pay for having their communications highlighted through live streaming.
- Make money from YouTube is more accessible than making money with Google
Google has money providing platforms like Ad Mob, AdSense, and so on. But when we talk about earning money from YouTube, it is considered much more comfortable and faster than to make money with Google.
Why? Because YouTube has more flexible options when we talk about making money.
Like we stated above, you are not only confined to earning money from YouTube revenue and ads but also through joining the YouTube Partner Program, receiving membership perks of YouTube Partner Program, features like Super Chat, and so on.
Thus, when we think about how to make money fast from either of the platforms. YouTube is most likely to get chosen over Google.
Although earning and making is facilitated through the services provided by Google like AdSense.
- Google AdSense
When Google AdSense links your account, it allows the advertisement companies to bid for space on your videos to display ads. They are mostly based on several aspects like:
- Your audience
- Your video’s theme/content
- Keywords relevancy
In a nutshell, you will be paid based on the amount of “impressions” that your video will make, i.e. the number of times that a person will click and watch the ad.
Although ads would not always be displayed on your videos, hence, the views will not be converted into money in the bank. For example, if you earn $100 with ads in your videos, you will make, let’s suppose, $90- $95 without ad and ad views.
Moreover, YouTube takes a cut of the ad revenue, whose rate is not disclosed.
You will get paid once your money balance will reach 100 dollars. Thus, the “pay-day” will variate according to the size of your channel, whether large or small.
So, it is advisable to keep a sum of money aside for taxes because Google who issues payments for AdSense, may or may not deduct the full tax obligation for you.
- YouTube Premium
Making money is not only subjected to the use of AdSense. If you are using YouTube Premium, which is an ad-free subscription service, where you can create videos and earn an amount of the revenue from the membership fees, it is based on how many views by the members is received on your videos.
- Selling or providing services
You can sell Merchandise about your channel or about any event you have organized.
For example, Merchandise about your Youtube channel, sell merch for a cause like Anti-Bullying, and donating the money to the respected organizations for work for such purposes.
You can also hold a meet and greets where you can sell your customized Merchandise.
It is good to have a deal and prior planning done about costs and charges of your products with the manufacturers. Moreover, before you officially announce it to your viewers and subscribers that you are launching a product about your channel or for an actual cause.
- Sponsorship and Product Placement
As your channel will grow in number based on various aspects, companies or people will start to gain an interest to work with you.
Companies may ask you to review or promote their latest product or their new product launch.
They are most likely to pay you for that (paid sponsorship). Or they might allow you to benefit from their product because you publicly promoted their new product.
When it comes to crowdfunding, you are given two types to choose
- Funding for Projects
- Recurring funding
Funding for projects means that suppose you have decided to work on a personal project that needs funding. For example, your project is about funding for your business start-up.
Whereas, Recurring funding, on the other hand, is that the contributors will pay an amount that is specified by them on a regular basis.
When this source of income starts to form into a stable source of income, then you will have to maximize this form of funding.
You can increase your crowd participation for funding by encouraging and initiating activities like exclusive Merchandise for those who are funding you, discounts on your products, giveaways, hold an exclusive meet and greets for the people who are funding you.