With the new year already started, many of us are thinking about how to make money online. While many believe that affiliate marketing is the best way to make money online, there are several other lucrative options that you may not have considered. One of the most lucrative money-making platforms out there is YouTube. Not only is it the second largest social media network with over 1.9 billion monthly active users, but it also has the distinction of being the largest video-sharing platform. If you can become a YouTube Partner with at least six figures in earnings per month, you can largely do so without needing to have a massive audience.
If this sounds like something that interests you, then this article will tell you exactly how to make money online doing videos on YouTube.
The Many Ways To Make Money On YouTube
Although YouTube does not disclose any official statistics, it is estimated that there are over 20 million American adults between the ages of 18-29 that use the platform regularly. With many people moving further and further into debt, the platform may very well be the next big thing.
Due to its vast popularity and incredible growth, YouTube has become a goldmine for marketers. Not only can you create video content and get paid based on your engagement with the audience, but you can also become a paid content creator and make money off pre-existing videos you’ve made.
Because of this, there are plenty of ways to make money online on YouTube. Here are some of the most successful ways:
1. Create YouTube videos on a variety of topics.
As mentioned above, YouTube is the second largest social media network and the largest video-sharing site. Due to this, it is the perfect place to build brand awareness and grow your audience. The more content you put out, the more people will begin to recognize you as an expert in your industry. Create videos on a variety of topics to make sure you cover everything.
You can also use your YouTube channel to host webinars or Q&As with prominent figures in your industry. Or, you can interview subject matter experts on the platform to grow your audience and establish yourself as an authoritative voice in your industry. The sky is the limit as far as the number of topics you can cover on YouTube. Just make sure you cover everything in some way or another.
2. Make money off memberships, live chats, and survey clicks.
The memberships and live chats on YouTube are two ways you can make money off your channel. The first way is through a memberships, which is similar to a membership website or a Netflix subscription. For example, if you set up a membership site for musicians, you can get paid based on the number of members that join the site. Live chats work in a similar fashion. If someone is paying you to speak, you can do so through a live chat on YouTube.
3. Use affiliate marketing to earn a passive income.
The third way to make money on YouTube is through affiliate marketing. Just as with paid membership websites or Netflix, you earn a commission off the products or services that you promote on your channel. The commission can be anywhere from a few percent to 10% or more.
There are two main types of affiliate marketing on YouTube. The first is traditional affiliate marketing, where you promote and link to a product or service that generates revenue for the company. The second is brand affiliate marketing, where you promote products and services that are tied to a company but don’t necessarily generate revenue. For example, you can create videos discussing fashion trends and style tips. Then, you can affiliate market clothes that you have discussed in the past. You don’t need to get paid directly for the clicks you receive, as long as the person watching the video concludes that it is beneficial to them.
4. Partner with brands.
YouTube Partners are a type of independent contractor that exists on the platform. They can become experts in their field and get paid to teach others about it. Similar to the way you can become an affiliate marketer and make money off of YouTube videos, you can also become a partner and get paid to promote products and services that are relevant to your niche. You won’t necessarily need to have a huge audience to become a partner on YouTube, but you will need to have at least 500 subscribers and earn at least $5,000 per month before you can start making money off your efforts.
5. Create and advertise your own products/services on YouTube.
You can also create and sell your own products and services on YouTube. You will need to register with Shopify, which is a software platform for entrepreneurs to build and grow their businesses. Once you have a store set up, you can use the platform to design online stores for your products and services. These stores can then be uploaded to YouTube and used to advertise your products and services.
Learn How to Make Money Online Doing Videos on YouTube
As you can see, there are quite a few ways you can earn money on YouTube. The key is to find a niche and build a following. You can then use your audience to drive traffic to your website or social media platforms in order to make money online in a variety of ways.