Let’s start from the top. So, if you haven’t been living under a rock for the past decade, you most probably know that you can make money – lots of it – by simply posting videos on YouTube.
In fact, YouTube has now become the de-facto launching platform for most upcoming stars who take the world by storm and earn an audience through their entertaining, educational, and engaging videos.
That’s not surprising given that YouTube has close to 2 billion active monthly users (Yes, you read that right – it’s billion). Plus, it’s the second largest search engine and most trafficked website, just behind Google.
To put things into perspective let’s take a look at some of the top YouTubers and how much money they made on YouTube in 2018.
- Ryan ToysReview, currently with 19 million subscribers made close to $22 million
- Jake Paul – the brother of Logon Paul (Another famous YouTuber) – with around 19 million subscribers earned $21.5 million
- Dude Perfect with approximately 42 million subscribers made $20 million
- PewDiePie – the Swedish guy with the most subscribed individual YouTube channel in the world – with 95 million subscribers made close to $16 million, and that is after numerous controversies held him back
Note that these YouTubers are just like you; they are not athletes, politicians, or movie stars – just random people with a video camera and an internet connection who made it big on Youtube. If they can do, so can you. Plus, you don’t even have to offer any complication services such as software development services or financial management services.
Now, you might think that it’s all about the subscribers and since getting so many subscribers is quite an arduous task, to say the least, you have absolutely no chance of making it big on Youtube. If you do think that, then think again. This is because Youtube channels with less than a million subscribers can also be monetized. Your earnings depend not only on the subscribers but on the revenue channels you explore, the number of views your videos have, the total time your videos are watched (engagement), and the niche you belong to. So, don’t lose heart if you don’t have millions of subscribers, do the best you can right now, and you’ll do extraordinarily well.
Following are the five ways you can make money on Youtube:
Become a YouTube Partner
In order to earn money through Ads, you need to become a YouTube partner. That can be done by verifying your account and enabling monetization by going into the Creator studio section of your YouTube account. Once you do that, you need to get an AdSense account in order to become a part of the advertising network of Google. If successful in setting up monetization you will see a green dollar sign right next to your videos. By clicking on it, you will be able to set monetization settings for your videos and earn money.
Sells by Youtube
Selling merchandise or products of any kind will not only help you make money but also get your personal brand out there. You have two options; either you can manufacture and sell your own unique products, or you can set up a drop shipping business to sell someone else’s products.
Get funding from your audience
While this might sound odd but you can ask your audience to support you either through fan funding or crowdfunding. All you need to do pitch to your audience in an appealing way. If they like your work and want to help you with your next innovative project, they will give you money – just like that.
Work as an influence
Influencer marketing is only heading one way, and that’s upwards. This could be your chance to make it big. So hop on while there’s still time and room in the market. Don’t worry if you don’t have millions of subscribers. There are plenty of SME’s out there looking for influencers with lesser and more specific following who can get their brand the attention at an affordable cost. So, partner up with the right brand and negotiate a mutually beneficial deal. Note that the brand or company you partner can it anything, ranging from clothing brands to software company.
License your content to others
If you happen to create a viral video or one you believe will go viral, you can license your content in exchange for money to other parties who can then show it to their audiences. This will not only help you earn money but also help you market yourself to diverse audiences. This really is a win-win situation for you.
There you have it — five ways of making money on Youtube without having a million subscribers.
Remember that if you make videos to add value in people’s lives, then you will automatically make money. Focus on the long-term instead of the short-term as that will help you in coming up with a unique strategy that will serve you extremely well.