How to Make Money on YouTube: 7 Steps to Getting Paid - NerdWallet

How to make money video 2020

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Want to connect with and earn from your YouTube following outside the platform? So, how do some YouTubers rake in tens of millions of dollars every year?

How To Make Money on YouTube in 2020

They monetize their channel and brand in smarter, more lucrative ways. Use the Memberships feature InYouTube rolled out its Memberships feature for channels with more than 30, subscribers.

This would include providing members with special members-only content, as well as other perks like merchandise. For example, comedy YouTuber Mike Falzone offers his members loyalty badges, a digital copy of his secrets of a professional binary options trader, original song tracks, an evergreen coupon code for merchandise, and a full-length video available only to members.

YouTube reports that Falzone tripled his revenue just through Memberships.

How Do People Make Money on YouTube?

Using the Memberships feature on YouTube is a key way to increase your earnings on the platform. Many YouTubers have monetized their work by making how to make money video 2020 account on Patreon and releasing exclusive content or perks for their Patrons.

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Patreon functions almost like the YouTube Memberships feature, except you get to set your own prices and decide how you want to charge. Patreon is similar to the YouTube Memberships feature, but you get to set your prices. Image via The East Fam Patreon. Promote your own products or offers If you have a business outside of YouTube, you can use your YouTube channel to drive leads to your paid offers or products.

This strategy is most often used by digital course creators or online service providers, but it would also work for product makers.

How to Make Money on YouTube

Your YouTube videos become a content marketing machine by providing helpful, free content to viewers and promoting a paid offer or product at the end of your video and in the description. One YouTuber who found success with this monetization strategy is Parker Walbecka filmmaker and course creator who links several of his courses in the notes of his videos. Linking to your paid offers, services, and courses in the description of your videos is one way to earn money on YouTube.

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Sell merchandise YouTubers who successfully brand themselves and gain lots of loyal fans should explore creating and selling merchandise. You can either sell merchandise directly to fans or you can sell it wholesale by placing your merchandise in retailers. The highest-earning YouTube stars are thought to get most of their revenue from merchandise sales.

How to earn money on YouTube

This includes Ryan's Worlda YouTube channel for kids with over 20 million subscribers. He has merchandise like t-shirts in massive retailers like How to make money video 2020. Similar to how bands sell merchandise related to their music, YouTubers can earn more by producing merchandise for their fans to buy.

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Image via Unsplash. Since you likely already have an audience on YouTube, affiliate marketing is an easy and fast way to start earning more money through your channel.

How Much Money Can You Make on YouTube?

YouTubers can start affiliate marketing in a few different ways: Become an Amazon Associate for any Amazon product you like Apply to be an affiliate with any company that has an affiliate program Reach out directly to a company to see if they would be interested in giving you a percentage of sales in exchange for a product review or tutorial you create for your channel Product reviews and tutorials are popular affiliate marketing techniques because they are honest and genuinely helpful for your followers.

For example, Bloggers Passion creates how-to videos about the web-hosting platform BlueHost. Then they share a special link for viewers to buy BlueHost for a discount and Bloggers Passion receives a percentage of the sales. How-to videos are popular methods of affiliate marketing for YouTube creators.

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Instead, you can use YouTube as a platform to showcase your expertise and skill for potential contractors. This strategy is a form of advertising yourself.

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The goal is to eventually get hired for a paid opportunity, such as keynote speaking, writing, or performing. This strategy can be highly effective. To ask for donations, you can use websites like Buy Me a Coffee or even just include a PayPal link in your video descriptions. One creator, Marie Poulinuses YouTube as part of her business systems consulting work.

But to earn extra income from her videos, she also includes a link to her Buy Me A Coffee page.

YouTube creators can link to a small-donation website like Buy Me a Coffee to earn from appreciative viewers. But how do you decide which strategy you should try first? Consider how much you want to earn through YouTube Do you want YouTube to be your primary source of income?

Or do you just want to make some extra money for the videos you would create anyway?

How to decide how to make money on YouTube

If you need to earn a lot, you should choose the strategies with the highest proven earning potential: Using the Memberships feature For lower earnings goals, any of the other strategies will be effective: Leveraging your channel into paid opportunities Promoting your own products or offers Joining Patreon Becoming an affiliate marketer Look at how many subscribers you have One of the strategies requires that you have a certain number of subscribers: To use the Memberships feature you must have at least 30, subscribers to be eligible.

This is most true for selling merchandise, as the cost of producing and shipping merchandise will be too high for a small number of sales. But many of these strategies can be effective even at a small scale: Leveraging your channel into paid opportunities Promoting your own products or offers Joining Patreon Becoming an affiliate marketer Decide whether you can go beyond making video content Some strategies require you to get outside of your YouTube channel to earn.

You should decide whether you have interest and time to do more than create video content. If you are willing to go beyond video, try exploring these strategies: Selling merchandise Leveraging your channel into paid opportunities Promoting your bollinger bands binary options strategies products or offers If you want to stick with video content only, these strategies will work for you: Using the Memberships feature.