Making money on YouTube requires creativity, hard work and the ability to consistently generate video content that people want to watch. In the video, below I want to share with you how to monetize your YouTube channel for beginners.
Let me know in the comments below how you are currently generating revenue from your YouTube channel.
Why monetize your YouTube channel?
1. Support the costs of running your channel.
If you want to grow your YouTube channel, you want to constantly improve the gear that you have to create videos. It could be a new microphone, a new camera, video editing software, et cetera.
2. Pay the bills.
Creating, optimizing, editing and promoting videos takes a lot of time. If you have a full-time job, you’ll probably do it in your spare time. In the beginning, a channel could help pay some bills but in the long-term, you can make it into a full-time income and replace the job that you currently have. Number three, freedom.
I enjoy the freedom of creating and publishing videos because I can generate passive income from my YouTube channel.
Why use YouTube?
* YouTube gets five billion views per day.
* It’s the second largest search engine on the net after Google.
* Your videos can convert views into paying customers.
Here are top 5 ways to monetize your YouTube channel even if you’re just starting out or you have an existing channel.
1. AdSense Ads.
These are ads that play before your video starts playing. Advertisers pay to have their videos displayed on your video. The revenue that you receive by displaying the ad on your video is shared with YouTube. It’s about a 50-50 split. For example, a thousand views might earn you $1. You need to get a ton of views on your videos to generate a little bit of revenue.
In order to display these AdSense ads on your videos, you need to be a member of the YouTube Partner Program. The requirements to join the YouTube Partner Program is 1,000 subscribers and 4,000 hours of watch time in the past 12 months. This is equal to 240,000 minutes in 12 months.
Once you meet those requirements, your channel will be reviewed by YouTube. If you haven’t violated any of YouTube’s policies or received a strike on your channel in the last three months, there’s a great probability your channel will be accepted.
2. Channel memberships.
Channel memberships allow viewers to subscribe to your channel for a recurring monthly fee. This is usually $4.99 per month. In return, you can give members perks like badges, emojis and other offers that they wouldn’t receive normally.
If a channel has channel memberships activated, you’ll see a join icon below their video. You’ll also see the join below the channel banner. Here’s an example of what you’ll see when you click the join icon.
What are the requirements to activate channel memberships?
- Your channel must have more than 30,000 subscribers.
- You must be a member of YouTube Partner Program.
- You must be over 18 years old. You must be located in one of these available locations. You must have zero strikes on your channel.
3. Super Chat.
This is where viewers can purchase chat messages during a live stream. When you purchase a Super Chat during a live stream, your message will be highlighted in the chat stream.
Your message will be highlighted with different colors depending on the amount of the Super Chat.
The Super Chat message will stay pinned to the top of the chat stream depending on the amount that you contributed.
Here’s an example of a highlighted message on the chat stream from somebody that purchased a Super Chat.
What are the eligibility requirements to enable Super Chat?
Your channel must be monetized. That means you must be a member of the YouTube Partner Program.
- Your channel must have over 1,000 subscribers.
- You must be over 18.
- You must be located on one of the available locations.
4. Sell merchandise.
You can sell branded items to your fans like T-shirts or mugs by displaying merchandise products under your videos. The websites that you use to sell your merchandise must be approved by YouTube.
What are the eligibility requirements?
In order to sell merchandise from your YouTube channel, you must meet these minimum requirements.
* You must be a member of the YouTube Partner Program.
* You must have more than 10,000 subscribers.
* You must have no community guideline strikes.
Here’s an example of a channel selling T-shirts.
5. Crowd Funding.
Crowd Funding is a way of supporting your channel through donations from your viewers. Previously, I’ve mentioned the example of channel memberships through making a recurring donation of $4.99 per month. You can link to a crowd funding site from your videos on YouTube as long as it’s on the approved sites listed on YouTube. In order to do this, you must meet the requirements of being a member of the YouTube Partner Program. Her
If you don’t meet the requirements of the YouTube Partner Program, a great alternative is Patreon.
Patreon allows you to have a direct relationship with your fans in exchange for recurring revenue. Here are some examples of Patreon creators. The beauty about Patreon is that you have a load of transparent fees. You keep 90% in Patreon only keeps 5% for transaction fees.
Some of the benefits include:
* You retain full control, you own your content.
* You can focus on creating while Patreon takes care of all the payments and questions.
Here are some important tips to keep in mind for YouTube monetization.
- Build and engage audience first. Focus on increasing your views and subscribers before you think about monetizing your channel.
- Create great content. If you solve people’s problems in your videos and create great content that people want to watch, your channel will definitely grow.
- Create multiple revenue streams. Instead of focusing on one revenue stream, think about multiple revenue streams. You might get a little income from revenue stream but if you combine it with other streams, then you’ll increase your income.
- Determine how much money you want to make. Set a goal of how much money you want to make from your channel and how much time you want to invest. When you set a deadline for yourself, it’s easier to achieve your goal.
What if you don’t meet the requirements of any of these monetization options?
No worries. Just watch my next video on how to generate revenue from your channel without 4,000 hours and 1,000 subscribers. You won’t even have to join the YouTube Partner Program. Thanks for watching and I’ll see you in the next video.
Do you want a grow your YouTube Channel this year so you can attract more views and subscribers? If so, pick up a copy of my 100+ page ebook at TubeBootCamp.com
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