Want to know how to make money with YouTube? You already have a YouTube channel, but you still lack the right strategy?
This article will show you what small and big YouTubers earn and what strategies are there to make money with YouTube. We focus on strategies that can be implemented with particularly low risk and without seed capital.
Can you make quick money with YouTube?
Unfortunately, that is often the first question. Everyone always wants to get rich quickly. Unfortunately, the truth is that you can rarely make quick money with YouTube, and it is also very difficult to make a living from YouTube. So, if you want to build a part-time or full-time income online as quickly as possible, services are a better way.
How much do YouTubers earn?
Whether and how much money a YouTuber earns depends on its number of subscribers and the monetization strategy chosen. The right strategy is more important than the number of followers! On the socialblade.com website, you can see how much YouTubers are earning per video, day, week, month, and year.
These estimates are based on revenue from the advertising clips. However, the platform cannot measure how many viewers have their ad blocker and cannot see the advertisement at all. It also doesn’t record which other earning strategies the respective Youtuber uses in addition to the advertisements. Nevertheless, it’s still a good guide.
Here are examples of well-known YouTubers.
· Mr. Beast earns approximately $ 63,000-1,000,000 with 33.2 million subscribers
· Entrepreneur Channel earns $ 28- $ 444 with 96,700 subscribers
These are the values of SocialBlade, but you can already see the enormous range of the stated values, and many other factors also play a role.
How do you make money with Youtube? The complete list of monetization
Now let’s take a closer look at the eight best monetization strategies. Put simply, you advertise to your viewers either your own or third-party products.
You can build up a paying fan community that pays you to continue creating great content.
If you advertise other products, always make sure that you stand behind the products, and it fits your audience. Otherwise, you will quickly lose your credibility and the potential to build a solid income over YouTube in the long term.
Advertising Placement / Google Adsense
The most popular way to make money on YouTube is to place advertising clips in your videos. YouTube only unlocks this option for channels with 1,000 subscribers or more.
Adsense on YouTube works to offer advertising space in your videos that companies use to integrate their advertisements (similar to TV advertising).
The amount of remuneration depends on the number of views or clicks (when someone clicks on the advertisement). The advertiser decides how to bill, and you have no control over it. On average, a Youtuber earns between 1 and 5 dollars per 1,000 impressions. The earnings per click are already included in this value. To earn $500 a month with YouTube, you need 500,000 clicks a month. Honestly, that’s a lot, and that’s why I think this advertising strategy is by far the worst.
Another way to make money with YouTube is affiliate marketing. You purchase third-party products via affiliate links and receive a commission if someone buys through your link. The price does not change for the buyer. Some well-known affiliate marketing networks are the Amazon affiliate program, Digistore24, AWIN, and Affilinet. Entry hurdles are low, and it is possible to earn commissions of up to 50% and more.
This technique is also called influencer marketing. As the name suggests, you subtly or very clearly present a product in your video. The remuneration paid by the respective company can look very different:
· You get the product for free
· The company pays you compensation
· You make a (special) affiliate deal, and you get a percentage of the sale
Advantage: Possibility to get interesting products for free
Disadvantage: Product placements must fit into your video format
Depending on the topic, YouTube can also be an excellent platform for positioning them as experts in a certain area and for attracting customers. Topics for which people are looking for specific instructions are particularly suitable. For example, you can go with advertisements on a specific social platform, search engine optimization, website creation, diet change, or sleep optimization. Either your viewers implement it based on your instructions or ask for your expertise and help them with the implementation of your service.
Advantage: Interesting insights into other projects, direct feedback on your competence, “quick” opportunity to earn good money, digital service products can be created later from the service experience.
Disadvantage: You exchange time for money
Depending on your channel's size, merchandise products may be worthwhile – for example, sweaters and cups with the logo of your channel/company. It can also be a marketing strategy at the same time because it will make your channel better known. Although these are physical products, you have almost no risk, thanks to the print-on-demand process. The products are only printed when a customer orders. Merch by Amazon is a well-known provider.
Advantage: Income source is linked to marketing, and it can strengthen the existing fan base
Disadvantage: There is a relatively low margin. It is only useful for larger channels
With your own digital product, you usually have a higher margin than with merchandise (physical products).
You can sell a digital product as often as you like, but you only have to create it once. That is the biggest advantage: scalability. The common formats are ebook, online course, member area, apps, audio tracks, and (short) films.
Classically, you pass on your knowledge and experience in a digital product and help other people to get from A to B. For example, the YouTube channel “How YouTube works” offers a YouTube course for beginners. In an interview, the ClayClaims channel, which produces animation short films, announced that it would soon be releasing a complex animation film and offering it for sale.
Advantages: Scalability and high margin. Further sales (upsells, cross-sells) to advertised customers is relatively easy.
Disadvantage: More explanatory than physical products. Relatively high expenditure of time at the beginning
Sponsorship is a long-term collaboration between a certain company, and in this case, a YouTuber. In most cases, the parties draw up a contract that contains the amount of your remuneration and your obligations. Be sure to take a close look here and don’t be tempted by the quick buck. For example, you shouldn’t let the contract restrict your freedom of expression.
Advantage: You no longer have to “come up with all of the topics on your own.” It is an exciting win-win-win situation.
Disadvantage: It is only useful from a certain channel size, because, with a rather small channel, the investment on the part of the company is not worthwhile.