YouTube is one of the best mediums where one can create a strong & trusting audience, and at the same time, can be a means/source of income for you. There are a lot of ways you can make money on YouTube, and on this blog post, we’ll talk about some of the most common methods you can start using right away:
- Affiliate Marketing (Product Reviews)
- Sell Products/Merch
- YouTube Adsense
- Sell Courses
- Sponsorship Deals
Affiliate marketing, in a nutshell, is a method of earning commission for referring a customer to purchase an item.
I get a lot of questions around this topic ever since I made my video about affiliate marketing. I always get asked questions like:
– Can I start affiliate marketing as a student?
– How can I start affiliate marketing on a little/no budget?
– What kind of affiliate marketing is the best?
All these are important questions (including all the other ones I didn’t list above) and right now (as we speak) I’m writing content around that topic. Once it’s ready I’ll let you know. Affiliate marketing is one of the best ways that you can make money on YouTube. And luckily, these days, a lot of companies are also introducing their affiliate programs, so you have a very wide variety of options to choose from.
There are many ways to sell with Affiliate marketing on a YouTube channel, but some of the best methods include Product reviews, Product Unboxing, Life Hacks, and a lot more.
There are 2 main types of affiliate marketing commissions that you can always leverage on in YouTube:
- The one-time commission payment &
- The recurring commission payment.
The one-time commission, as it states, is a one-off commission payment kind of affiliate marketing. Its more common for physical product affiliates, where you get paid once for referring a customer to buy an item. This is the category Amazon, Jumia, Konga and many other physical product affiliates stand. You get paid once for every individual sale you make.
Recurring commission affiliate products are the best kind to promote. Just like the previous one, for every sale you make, you earn a commission. But in this one, products might be bought based on subscriptions. So once the customer purchases the product based on a monthly subscription, you earn a commission for every month your customer renews their subscription (so long as they don’t cancel). Recurring affiliate products are usually digital products like software or third-party apps like ConvertKit, Tube Buddy, and Vid IQ.
The best way to promote affiliate links is to talk about the product in a video, post the link in your description, and then let your viewers know so they check and click.
Chances are you already sell your own products elsewhere, and you never thought of YouTube as a potential market. Well, let me burst the bubble for yah… Selling your own products on your YouTube page is one of the best ways to expand your business (and customers).
If you have your products to sell, bring them on YouTube and show them to your viewers. You never know who might be needing it. This can be anything from books, ebooks, other physical products, and even digital products like software. Talk about your products in your videos and let your viewers know where to find them in case anyone wants to buy them. Post links to the products in your description and any other available section. You’ll be surprised when you start getting sales.
The most common method of making money on YouTube is through Google AdSense (YouTube Partner Program). You place ads in your videos so every time your viewers watch your videos and come across an ad, you’ll get paid for placing it in front of them. Just imagine how passive that is. But unfortunately, in order to be able to earn from Google AdSense, there are certain requirements that you would need to hit. If you’re already past the threshold, then chances are you already earn from AdSense. If not then go ahead and apply right away.
The requirements for the YouTube partner program are:
- You are expected to have at least 1000 channel subscribers on your YouTube page.
- You must have (at least) a total of 4000 hours of video watch time on your channel within the last 365 days.
A lot of people make the mistake of starting a YouTube channel with the intention of making this their only source of income. In that case, people try their best, but most of them end up burning themselves out (still) without reaching the requirements. Make use of the other methods before you get access to this one.
Maybe you have some kind of skill you teach or you have a compilation of your training sessions. Organizing and selling those sessions would really help that you want to sell to your viewers in order to teach someone and also profit from them, you just present it to your viewers. Anyone interested would reach out to you.
When you become a thought leader in a certain niche or topic on YouTube and begin to attract attention, sponsors begin to reach out to you, (mostly) in order for you to promote their products or services. In this case, sponsors pay you to personally advertise their products or services in your videos. Depending on what you agree, you talk about it for a few seconds (/minutes) and refer your viewers to check them out. In other words, you serve as an influencer to them. You always have a choice to decide which sponsor you want to work with and which you’d want to decline. Negotiation is key when it comes to Brand/sponsor deals, make sure you find a way to learn about it as you go.
The above-listed methods are each special in their very own way, so I cannot say one is better than the other. But you should always think of diversifying when it comes to building income streams. The best way to profit on YouTube is to at least invest in any 2 or more of these methods. The choice is all yours, whichever you want to use, just go ahead and do it.