Making money on YouTube doesn’t happen by amassing a large following and relying on YouTube to pay you for views. While you can earn some money that way, it won’t lead to an income big enough to quit your day job.
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Influencer Marketing Hub’s YouTube earnings calculator reveals the truth about how much you can earn from subscribers and views alone: With an average of 50,000 views per day and a 7% engagement rate (a generous few points above the average), you’ll earn up to…$8,000/year.
So, how do some YouTubers rake in tens of millions of dollars every year?
They monetize their channel and brand in smarter, more lucrative ways. In this article, we’re sharing some of the best strategies for earning more on
Join Patreon
Patreon is an online platform where artists and creators share their work with a paying audience of “Patrons.” Creators can choose to ask for a fixed payment every month in exchange for giving access to exclusive content or they can charge Patrons per post.
Many YouTubers have monetized their work by making an account on Patreon and releasing exclusive content or perks for their Patrons. Patreon functions almost like the YouTube Memberships feature, except you get to set your own prices and decide how you want to charge.
For instance, The East Fam, a YouTube channel featuring former Olympic gymnast Shawn Johnson, has a Patreon account where she offers tiers of Patron memberships, ranging from $2/month for ad-free videos to $100/month for personalized merchandise and a credit as a producer.Promote your own products or offers
If you have a business outside of YouTube, you can use your YouTube channel to drive leads to your paid offers or products.
This strategy is most often used by digital course creators or online service providers, but it would also work for product makers. Your YouTube videos become a content marketing machine by providing helpful, free content to viewers and promoting a paid offer or product at the end of your video and in the description.
One YouTuber who found success with this monetization strategy is Parker Walbeck, a filmmaker and course creator who links several of his courses in the notes of his videos.
Sell merchandise
YouTubers who successfully brand themselves and gain lots of loyal fans should explore creating and selling merchandise. Similar to how music fans buy merchandise from bands they like, subscribers to your channel will purchase the merchandise because they’re fans of your work.
You can either sell merchandise directly to fans or you can sell it wholesale by placing your merchandise in retailers. The highest-earning YouTube stars are thought to get most of their revenue from merchandise sales.
This includes Ryan's World, a YouTube channel for kids with over 20 million subscribers. He has merchandise (like t-shirts) in massive retailers like Walmart. Most of the channel’s $26 million/year revenue is reported to come from these merchandise and toy sales, not directly from the videos themselves.
Similar to how bands sell merchandise related to their music, YouTubers can earn more by producing merchandise for their fans to buy. Image via Unsplash.Become an affiliate marketer
Affiliate marketing is when you market someone else’s product to your own audience and receive a percentage of the sales you generate.
Since you likely already have an audience on YouTube, affiliate marketing is an easy and fast way to start earning more money through your channel. YouTubers can start affiliate marketing in a few different ways:
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Become an Amazon Associate for any Amazon product you like
Apply to be an affiliate with any company that has an affiliate program
Reach out directly to a company to see if they would be interested in giving you a percentage of sales in exchange for a product review or tutorial you create for your channel
Product reviews and tutorials are popular affiliate marketing techniques because they are honest and genuinely helpful for your followers.
For example, Bloggers Passion creates how-to videos about the web-hosting platform BlueHost. Then they share a special link for viewers to buy BlueHost for a discount (and Bloggers Passion receives a percentage of the sales).
How-to videos are popular methods of affiliate marketing for YouTube creators. Image via Bloggers Passion YouTube Channel.
Leverage your channel into other paid opportunities
You don’t have to earn directly from the videos you create on YouTube. Instead, you can use YouTube as a platform to showcase your expertise and skill for potential contractors.
This strategy is a form of advertising yourself. The goal is to eventually get hired for a paid opportunity, such as keynote speaking, writing, or performing.
This strategy can be highly effective. Marketing YouTuber Shayma Hyder reports that she doesn’t do any direct advertising through YouTube but does get client leads for her media company and paid speaking opportunities from people who have seen her videos
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