Step-by-Step Guide to Making Money On YouTube 2021
In just the past few years Web-based videos have gone from a brand new concept to a part of our daily lives. YouTube, Americans now watch billions of hours of videos each month. It’s hard to believe that just nine years ago, YouTube didn’t exist.
Over a billion people use YouTube. That number sounds big enough on its own, but to really it put it into perspective, that’s about a third of the people on the internet. And some of those users are on YouTube just about every day.
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YouTube has paid out $2 billion to content creators and rights holders that have taken the proper steps to claim their part of the earnings.
Ways To Make Money On YouTube
We’ll start with YouTube, the largest of the online video platforms and still one of the best opportunities to make money from your video content. Even within the YouTube platform, there are several ways to make money:
- Become a YouTube Partner. The simplest and most common way to make money through YouTube involves partnering directly with YouTube and effectively splitting the money that is made off of ads. This includes both the ads that play during and before your videos, as well as the banner ads that are shown to the right of your video on YouTube.com.
- Sign up your own sponsors. There is, of course, another way to make money off of YouTube: cut out the middle man and sign up your own sponsors. If you’re able to build a substantial audience, you’ll have the ability to sign up sponsors for your programming who want to advertise their products and services to your target audience.
- Promote your own merchandise. While many YouTubers focus on the “direct” monetization routs available, perhaps the biggest potential in video is in the opportunity to promote other products and services that are moneymakers for you.
- Go freemium style. YouTube can be a great way to generate leads for your paid services, and a “freemium” business model can be a great way to turn on the masses to your paid product.
- Get an affiliate deal in place. If you don’t have a great premium product to sell, find someone who does–and cut yourself into their revenue stream.
Note: In early 2018, YouTube made changes to its Partner Program. In order to be eligible for monetization, accounts must have accrued 4,000 hours of watch time in the past year and reach 1,000 subscribers. Follow the steps below to opt-in to the program so once you reach that threshold, you can make money on YouTube!
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Step-by-Step Guide to Making Money On YouTube
If you want at least a chance at making money on YouTube, here’s what you need to do.
Step 1: Set up your YouTube channel.
If you already have a Google account, as most people do, then use that to login to YouTube. If you don’t yet have a Google account, start by creating one here, and then go ahead and log in to YouTube.
Once you’re logged in, click the Upload button in the top right of the screen and you’ll receive a prompt to create a channel.
Click “Create Channel” and you’re done.
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Step 2: Create your video plan.
Now you need to make some decisions about the videos you’re going to upload. If you really want to gain subscribers and encourage engagement, then your goal should be to build a following of people that like your videos enough to subscribe to your channel and return again and again.
A good video plan therefore needs to do a few things:
- Make sure you understand the audience you want to reach.
- Brainstorm a list of topics for videos that will appeal to that audience.
- Create a schedule for your videos. You’re more likely to gain and attract followers if you upload consistently at regular intervals.
You might want to spend some time during this step perusing some of the most popular videos in your space to see what people respond to. You don’t want to do the same thing that other content creators are doing, but you can glean some insights into what works best to apply to your own videos.
Your plan doesn’t have to be set in stone, but having a plan in place to guide you will help ensure you stick with it and approach your YouTube channel in a strategic way that’s more likely to pay off.
Step 3: Enable monetization.
Now click on the Account icon in the top right corner of the screen and then click on the Creator Studio button that appears.
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On the menu on the left side of the screen click on Channel, then choose Status and Features in the submenu that opens up under it.
Now you’ll see the option to enable monetization. (Note: You may have to provide Google with your country before the enable button shows up, simply follow the instructions the screen provides to do so).
Step 4: Sign up for Google AdSense.
Once you’ve enabled monetization, clicking the Monetization option in the menu will take you to a page where you can start the process of setting up your Google AdSense account, or connecting an account you already have to your channel.
Simply select “Next” and follow the instructions to create your account.
Step 5: Start loading (good) videos.
Now the basic stuff is covered and you’ve reached the hard part. Create the videos you decided on in your plan and start uploading them to the channel.
We already established that your videos have to be pretty darn good and appeal to a large audience for you to make any money, so spend some real time working to make sure your videos are especially educational, entertaining, or unique so that they’ll gain attention in a crowded space.
