Everyone wants to become a famous youtuber, and the process remains pretty straightforward, be it for youtubers, instagrammers, or TikTokers. Create content, upload videos, get views and subscribers and become famous.
Today, the content creation industry is rapidly evolving, and many successful youtubers and content creators are building not just one but several monetization streams to make more money from their following.
In this article, we will delve into the primary sources of earning money and those brand new monetization strategies that you can implement right now for your channels.
And these strategies will work for you, whether you have a million followers or less than 1000.
Ultimate Guide To Create And Sell Online Courses
Popular Strategies On How To Earn Money On YouTube Right Now
When it comes to monetizing your video content, there are several popular sources to consider:
Join The Partner Program
If you’re a budding content creator looking to monetize your YouTube channel, the YouTube Partner Program (YPP) is a fundamental gateway to generating revenue from your content. It’s a program that allows you to earn money for uploading videos through ads, channel memberships, and other monetization features on YouTube. In this section, we’ll walk you through the eligibility conditions and the step-by-step process of joining the YouTube Partner Program.
Eligibility Requirements To Join YouTube’s Partner Program
To monetize on YouTube, creators must meet specific criteria. For the YouTube Partner Program (YPP), you need at least 1,000 subscribers and 4,000 watch hours in the past year, free from copyright and community guideline strikes, and located in an eligible region.
To monetize YouTube Shorts through YPP, you’ll also need 10 million valid Shorts views in the last 90 days or 4,000 watch hours from long form videos in a year.
This is in addition to a linked Google AdSense account and compliance with YouTube’s monetization policies, including community and copyright guidelines. These requirements are essential for earning revenue from uploading YouTube videos on the platform.
YouTube Premium
YouTube Premium is different from the YouTube Partner Program. Here, subscribers present a unique opportunity for creators to earn additional revenue. This subscription service offers viewers an ad-free experience, enhanced with features like background playback and access to YouTube Originals.
For creators, this means when YouTube Premium subscribers watch your videos, you get a portion of their subscription fee. This revenue is separate from, and can be in addition to, the earnings from standard ad views.
The real advantage of this system is its focus on watch time and engagement, rather than just subscriber count. Earnings from Premium subscribers are based on how long they watch your content, encouraging the creation of high-quality, engaging videos.
This model provides a more predictable and steady income stream compared to ad-based revenue streams, which can be volatile.
By focusing on content that keeps viewers watching, creators can tap into this valuable revenue source, complementing other monetization methods like brand deals and ad revenue.
Brand Deals
Besides the YouTube Partner Program, brand deals offer creators a lucrative income boost by collaborating with companies. This partnership involves creators promoting products or services in their videos, covering sponsored content, product placements, or reviews.
The process entails brand selection, negotiation, content creation, disclosure, and compensation.
While there’s no specific subscriber count guaranteeing brand deals, audience size matters. Creators with 1,000 to 10,000 subscribers can attract smaller brands, while those with 100,000+ subscribers catch the eye of larger companies.
Engagement, niche, and audience demographics also influence brand partnerships, emphasizing the importance of consistent, high-quality branded content campaigns and for increasing YouTube earnings through these collaborations.
Affiliate Links
Affiliate links are a potent tool for YouTube creators, enabling them to both earn ad revenue and commissions by promoting products or services in their content or video descriptions. When viewers click and make purchases through these links, creators receive a percentage of the sale. It’s a mutually beneficial strategy, as creators provide valuable insights to viewers while generating income through their affiliate program partnerships.
Sell Merchandise
You can also sell your own stuff, like t-shirts, mugs, or even cool digital things, right from your YouTube channel as a store. It’s like having your own little online store! When you sell merchandise, you’re not just making money, you’re also sharing your unique brand with your awesome viewers.
So, if you have cool ideas for merch that your fans would love, go for it! There’s no better way to connect with your audience than by giving them something they can proudly wear or use.
Other Popular Sources
You can also supercharge your income as a content creator with Super Chats, Fan donations, or Patreon based crowdfunding for pet projects.
Think of Super Chats as those special highlighted messages from your viewers during live streams, often accompanied by a donation. Fan donations can come in anytime, showing appreciation for your content.
And Patreon? Well, it’s like having your own fan club, where your dedicated supporters contribute on an ongoing basis.
So, if your viewers value what you do, these options can be a fantastic way to boost your YouTube earnings and keep creating awesome content.
But YouTube Monetization Is Down By 90%!
As per a recent Forbes news piece, several popular content creators have confirmed that their monetization revenue from Youtube is down by up to 90%.
Several key factors contribute to this significant reduction in YouTube monetization for content creators. Firstly, frequent algorithm changes by YouTube can impact how your videos are recommended and surfaced to viewers, resulting in fluctuations in video views and ad revenue.
Additionally, the escalating competition in every niche on the platform makes it increasingly challenging to maintain consistent earnings, especially for creators with smaller audiences.
Furthermore, the rise of short-form content, such as YouTube Shorts, while popular, tends to generate lower ad revenue than longer YouTube videos.
Lastly, the prevalence of ad-blocking software has led to a decrease in ad impressions and revenue for creators, further affecting their earnings.
In response to these challenges, content creators are exploring alternative monetization strategies and diversifying their income streams to adapt to the evolving landscape of YouTube content creation and monetization.
Beyond YouTube Monetization: Millionaire Success Stories
Despite the challenges mentioned above, several content creators have found immense success in monetizing their viral video content. Let’s take a look at a few notable examples:
Ali Abdaal
With 5 million YouTube followers and 672k Instagram followers, Ali Abdaal has earned over $3 million in content monetization through his Part-Time YouTuber Accelerator Program. The program helps aspiring content creators learn the strategies to grow their channels and monetize their content effectively.
Sanjeev Kapoor
With over 20 million followers, Sanjeev Kapoor has generated over $1 million in course sales. His cooking courses have reached 100k learners from 20 countries, allowing him to monetize his expertise and culinary skills.
Priyaram Bindiganavile
Despite having 65k YouTube subscribers, Priyaram Bindiganavile has earned over INR 6 crores ($720k) in just two years from selling courses.
This success showcases that even with a relatively smaller following, content creators can still achieve significant monetization with digital products.
Recommended Read: 22 Passive Income Ideas To Make Money & Build Wealth In 2023
Evergreen Monetization Strategies
To achieve sustainable and consistent income as a content creator, consider implementing the following evergreen monetization strategies. Here are some key types:
E-Books and Guides: Ideal for sharing detailed information on specific topics, these can range from cooking recipes to technical how-tos, offering a low-cost, high-reach product.
Digital Templates and Tools: Useful for providing practical solutions like budgeting templates or graphic design presets, these can cater to both professionals and hobbyists.
Online Courses: These are perfect for step-by-step teaching in areas of your interest. You could create a course in any domain such as photography, coding, or fitness, providing structured, engaging content that can be sold repeatedly.
Webinars and Workshops: Great for interactive learning, these live events can cover anything from online business coaching to arts and crafts, allowing real-time engagement with your audience.
Memberships: Offer exclusive content, like advanced tutorials or specialized community forums, in exchange for a recurring fee, ensuring a steady income.
By focusing on evergreen content – material that remains relevant over time – creators can build a sustainable, long-term income stream.
This approach not only capitalizes on your existing knowledge and skills but also meets the evolving needs of your target audience, making it a great strategy in the digital landscape.
Recommended Read: Top 32 Marketing Strategies On How To Promote An Online Course & Sell Faster
Additional Exponential Monetization Strategies With Existing Content:
Let’s explore some smart ways to boost revenue from your existing digital products by adding more value for your customers.
Payment Plans and Add-ons: Make your pricier courses, like an advanced marketing series, more accessible with payment plans. Add-ons like personal coaching can further sweeten the deal and add value.
Premium Live Cohorts: Spice up your courses, like a live photography class, with real-time interactions. Premium live sessions not only increase revenue but also enrich the learning experience.
Bundled Courses: Bundle related courses, like a complete web development series, at a discount. This encourages more sales and offers a full learning path for your audience.
Subscription Content: Create a subscription model for continuous content, like a series of yoga classes or a marketing newsletter. Regular, fresh content helps build a loyal subscriber base.
These strategies enhance the value of your digital products and strengthen your connection with your audience.
You’re not just boosting earnings; you’re providing more comprehensive, flexible options for engagement, which is a key to success in content creation.
How To Increase Your Monetization With Scaled Content
Beyond the strategies already mentioned above, most content creators are now looking at offering ‘Scaled Content’ as the method to boost their earnings.
Basically, you create different types of courses and content based on their depth in value – some beginner level, some more expensive and detailed. This way, you can attract all sorts of customers, from beginners to experts. It’s like having a menu with options for everyone.
Let’s dive into an example to see how this cool strategy can boost your earnings. Imagine you have three levels of digital content offerings:
Level 1 Content
Priced at $10, this is your most accessible tier, perhaps an introductory course or an ebook. With 1,000 customers buying it, you make $10,000. This level attracts a large number of customers due to its affordability.
Level 2 Content
This could be a more advanced course or a specialized workshop, priced at $50. It’s aimed at those who are looking for something more in-depth than your Level 1 content. With 50 customers, you earn $2,500.
Although fewer people purchase this compared to Level 1, it’s still a significant revenue stream.
Level 3 Content
Priced at $300, this premium offering might include extensive personalized coaching or a comprehensive, advanced course.
It’s targeted at a smaller, more dedicated group willing to invest more for high-value content. With just 5 customers, you still earn $1,500.
In total, from these three levels, you could potentially earn $14,000.
This tiered approach allows you to cater to different segments of your audience – from those seeking affordable introductory content to those willing to pay more for premium, personalized experiences.
It’s a strategy that not only maximizes revenue but also broadens your market reach by offering something valuable at every price point.
Conclusion:
Monetizing your video content goes beyond YouTube and social media platforms. By diversifying your income sources, offering digital products, and implementing effective promotion strategies, you can earn a significant income as a content creator.
Remember to convert your followers into customers by providing valuable content within your niche and promoting your digital products strategically.
By implementing evergreen monetization strategies and utilizing platforms like Knorish, you can achieve long-term success and earn the income you desire.
FAQs:
Q1: Can I monetize my video content on platforms other than YouTube?
Yes, there are various platforms, such as Vimeo, Twitch, and Instagram, where you can monetize your video content.
Each platform may have its own monetization options and requirements, so research the platform that best suits your content and audience.
Q2: How can I effectively promote my digital products to my audience?
To effectively promote your digital products, utilize organic promotion strategies such as including CTAs in your videos, providing links in descriptions and bios, and making announcement posts and reels.
Engage with your audience, highlight the value of your products, and create compelling content that generates interest and drives traffic to your offerings.
Q3: Is it necessary to have a large following to earn substantial income from video content?
While a large following can certainly increase your monetization potential, even creators with a smaller audience can earn significant income by offering valuable digital products and implementing effective sales funnels.
It’s important to focus on building an engaged and loyal audience, regardless of its size, and provide high-quality content that resonates with your target market.
Ultimate Guide To Create And Sell Online Courses
Discover The 6 step strategy you will need to set up, launch & scale your online coaching business faster! Packed with practical tips, examples, tools, resources, and best practices from successful course creators.
