The creators of YouTube content don't get paid for their work. your YouTube videos nor your YouTube channel are monetized by default; you have to enable monetization in your YouTube account settings to earn money from YouTube. Afterwards, you can join the YouTube Partners Program or list your videos on the YouTube Premium platform. Even if you don't have millions of subscribers, your YouTube channel can still be monetized. A piece of content earning potential is not determined only by the number of subscribers and views it gets, but also by the degree of engagement it gets; what niche it caters to; and what revenue channels it utilizes. However, it doesn't mean that subscriber count is irrelevant. You'll need a minimum of 1000 Subscribers on your channel to enable monetization. If you're looking for a shortcut, you may want to consider buying YouTube subscribers.
1. Become A YouTube Partner
YouTube Partners receive special features on the platform as a result of the YouTube Partner Program. The link above helps you to set up a Google AdSense account and get views on YouTube without having to be a partner (it can be accomplished with just that), but it makes it much easier if you are a Partner. Not just ads, but YouTube Premium subscription fees, and content-related features such as Super Chat, channel memberships, and an merchandise shelf that directs sales to your fans.
2. Choose A Niche
The niche you choose for your channel will influence its profitability, so consider this if you're planning on monetizing it. YouTube is one of the most lucrative topics for gaming, for example. A number of other profitable genres are available, such as life hacks, humor videos or pranks, fail videos, product unboxings (especially of children's toys), how-tos and tutorials, food reviews and tips, animal videos and news. You should keep in mind that many niches are already oversaturated while targeting lucrative genres. Choosing an area of focus where plenty of competition does not exist is crucial. It may be wise to avoid focusing your channel on Minecraft, Fortnite, or other games which are already prominent topics of popular channels if you choose to focus on gaming.
3. Use Product Placement And Video Sponsorship
If you have a large following on your channel, companies may sponsor your videos or offer you product placement deals in exchange for a shoutout. In this case, the payments will likely be based on sales or as tiers of commission. For possible corporate partners, check affiliate marketing sites such as ShareASale, ClickBank, and CJ Affiliate. Before you sign up, make sure you're willing to vouch for the company and products you're selling. As soon as you have an endorsement or product placement in a video, you need to notify YouTube using the "video contains paid promotion" box under the advanced settings tab.
4. Sell Products Or Merchandise
With the help of your YouTube channel, you can earn money from selling a large number of different products. A business that sells merchandise - such as t-shirts, coffee mugs, totes, snapbacks, and other gear - has a competitive edge. You gain exposure when you sell merchandise because it extends your online brand and personality to the offline world and further cements your relationship with fans by letting them physically "buy" in to your project. A merchandising network for creators such as DFTBA (Don't Forget to Be Awesome) is another possibility. While you can compete with other YouTubers and have less control over adding products, offering discounts, integrating promotions, and all the other advantages of owning a business, you can also use YouTube to sell your own unique products like Luxy Hair did to sell its hair extensions using tutorial videos.
5. Become An Affiliate And Review Products
It may be necessary to have a large subscriber base to get a sponsor. In doing so, you still earn commissions by writing reviews of products that are relevant to your audience and promoting them. Usually, you need to sign up for their affiliate program - and many of them have low entry requirements. Your video description can then be used to promote them by sharing your unique affiliate link. It is crucial that you remain transparent with your audience in this case to prevent affecting your relationship.
6. In-Person Events
If you've had high levels of engagement with your channel, you can rise to the top by selling tickets to in-person events like live recordings or tour appearances to fans. Having branded merchandise available will enable you to increase sales as well as build brand recognition. Besides earning money through YouTube, popular YouTubers can also earn money by attending conventions and selling branded merchandise.
7. Turn To Crowdfunding
A recurring project based on a recurring charge. The principle of recurring crowdfunding permits contributors to contribute regularly as long as they specify the amount they want to pay. If you want to turn a channel into a substantial income stream, you'll want to maximize this type of funding. You can entice viewers to sign up with incentives such as one-on-one video chats, private classes, or merchandise. In case you've come up with an idea for a project that requires financial support, consider starting a project-based crowdfunding campaign. Join Indiegogo, Kickstarter, GoFundMe or Patreon to get started.
8. Expand To Other Platforms
Despite the fact that you host your content on YouTube, you can still take advantage of all the other distribution channels available. Share the news of new campaigns or discounts by using Twitter, Facebook, and any other social media account. Your message has a better chance of being seen if it is shared in many places. As a result, using social media marketing to grow your following outside of YouTube is always a good idea.