5 Ways to Make Money on YouTube in 2023
YouTube is one of the most crowded platforms, and there are quite some ways to make money on YouTube. Here’s a detailed guide to how to make money on YouTube in 2023. Youtube celebrated the date of the first-ever uploaded video on the 23rd of April 2005. 15 years down the line, YouTube is the most popular online video-sharing medium since it was created in February 2005. YouTube has not only gained popularity but has inspired engagement and the coming together of people from all over the globe. Now there are many ways to make money on YouTube for creators.
Today we are going to talk about the ways to make money on Youtube. Yes, if you weren’t aware already, Youtube is a very potent medium for earning a substantial income.
Youtube has surpassed all other social media channels as the most favorite medium across every digital channel with the exception of Google. The entertainment of YouTube is unparalleled.
You might have come across a channel of your interest and wondered how it would be if you could start a channel on YouTube too and start marketing your skills. You are not an exception. The thought crossed my mind when I visited book review channels in the past. Just like us, YouTube has attracted thousands of people all over the world as a viable means of earning a great income.
Not just from the creative aspect, but advertisers, sponsors, and business houses can earn greatly benefit by leveraging the monetization advantages of Youtube.
Some Statistics
According to various organizations like Statista Alexa and the PEW Research Centre,
YouTube has more than 2 billion logged-in monthly users with 81% of them in the age bracket of 15 to 25 years old. People upload 500 videos per minute and each visitor spends around 11 minutes on YouTube on average.
70% of the videos that users view on YouTube are determined by the recommendation algorithm. YouTube is the second most preferred choice for watching videos on TV screens between the age group of 18-35 years.
From the very favorable statistics, you can understand how YouTube is great potential for monetary benefits. But before proceeding with starting a channel on YouTube you have to understand the primary features and techniques of Youtube.
This entails understanding the innate traits of YouTube. What drives the numbers on YouTube is a very important aspect of becoming successful on the platform.
Also, an individual who wants to monetize a YouTube channel has to stay up to date with the best practices that help to gain subscribers. The policies and guidelines may change at any time. You should stay abreast of all the developments on that front.
The Significance of Niche For Success
Let’s consider the importance of niche first. Niche is the specific content based on which you will attempt to gain views and subscribers. Invariably your niches decide whether you are successful or not on Youtube.
Choosing the right niche can make all the difference between the success and failure of your own YouTube channel. A lot of planning has to go into creating a channel that talks about the products and services that are in demand.
You have to possess a keen knowledge of the niche you have chosen. That will educate as well as instill confidence in your subscribers and viewers.
Remember tons of videos are made and posted every day on Youtube. The competition is stiff, more so in popular niches. Create content that will be communicating a core solution to an issue.
Providing something new to ponder upon, and creating content around a topic that it is valuable as well as entertaining can help you make a mark with YouTube users instead of drowning in the ocean of irrelevant videos and channels that no one cares about.
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Some of the top niches on Youtube are
Music
Music remains the hot favorite content for YouTube users. Even those who do not visit YouTube for an extended period do log into music channels.
If you have a talent for singing, playing instruments, and creating new music and covers, YouTube can be a great place to earn great money. Youtube visitors appreciate talent to the maximum.
Online classes can very popular, especially for students who want to have flexibility in their study time and want to study from the comfort of their homes.
Also, like the situation today worldwide, online teaching can come to great use when people can’t go out of their homes.
You can start to teach any subject that you are proficient in whether English, mathematics, history, geography, science or any other subject.
It provides tremendous value as well as increases your brand reputation making your channel win the most viewed channels on YouTube.
Cooking
Cooking is not only popular because people love food but also because cooking is therapeutic for a vast number of people. On average recipes, and cooking videos gain a lot of views and subscribers on YouTube.
4. Vlogging
Talking about personal experiences, narrating a story, and creating a vlog can be a very profitable means of earning income through YouTube.
It is about connecting with viewers through the dissemination of content that can become food for thought. Search channels gain a lot of attention. People always want to listen to humane stories. Slice of life is a great way to connect with people on all levels.
Beauty Fashion, and Makeup
The trend of tutorials on makeup, beauty, and fashion is gaining momentum as time progresses. People now want to know how to make themselves more presentable, and how to style themselves. Be it a corporate meeting, a professional event or a celebration fashion and beauty tips are much coveted.
A proper understanding of the aspect of makeup, beauty tips, and fashion can help you get a score of subscribers and viewers. Of course, you have to be adept at giving information that will help.
Travel
Traveling is an extremely favorable niche because most people love to travel. However, a lot of people don’t get the opportunity to do so and fulfill their wishes vicariously through videos on YouTube.
Some others might want to know about a particular place. Travel vlogs from that particular destination can provide information to travelers regarding places to stay, food to eat, and landmarks to visit.
Review Channel
Reviews are another niche that is in vogue. Starting from games and technological devices to food, everything can be reviewed on YouTube.
People are interested to know about testimonials and reviews from niche experts before making a purchasing decision. Therefore review channels of products and services are extremely popular. Techno experts today gain millions of subscribers for their valued advice. Same with many other products.
Fitness and Yoga
Fitness videos are a welcome niche for many across the globe. With the rising pressures in professional life, a fast-paced life, people need to take care of their health.
Fitness videos, exercises, dance forms, and Yoga are an element that can do wonders for the body and mind. Hence, they are considered as a very popular set of channels for people from all age groups.
Animal and Pets
Animal lovers have a field day watching pets and animals doing their unique antics. There can be a lot of informative videos on pet care to ensure their welfare too. This is a very favorite niche and can garner a lot of popularity if done well.
Humor
Just like fitness, humor is a very important contributor to the well-being of the human mind. With the din and bustle of city life or the workload of the countryside, a good video of humor can rejuvenate the mind.
This entails having a witty mind and a great gift of the gab. Today live to stand up programs and recorded comedy programs are in great demand.
You do have to possess a funny bone to be successful in that niche. Because making people laugh is no child’s play. Now that we have the most popular niches delineated, let’s proceed to the steps to earn income from youtube.
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Steps to Earn From YouTube Channels
Pick your Niche
We have discussed how there can be several important specific subjects to choose from to start your YouTube channel. Select any one needs that you have maximum knowledge on. Then proceed to create an account.
Create an account on Youtube
The first and foremost step is to create a channel on YouTube to start delivering the advantages of the online platform. It is a fairly easy few steps to create the YouTube channel through your Gmail account.
After you log in with your Gmail account, you can set up your channel on YouTube providing the username and other details required. Linking Youtube to monetize consists of a few carefully described steps. The next steps describe the process in detail.
Connect your account with AdSense
The next step is to connect your account with AdSense to start earning from YouTube. This is the primary way in which YouTubers earn their income from YouTube.
You will video manager. Click on that. You will have options like Live Streaming, Community, Channel, Analytics, and creating videos.
Go to “Channel” and enable the Monetization option. Sometimes there can be some technical errors and of which you can get the option of “Ineligible”.
If you see such an option you will have to verify your account and start the process again. Follow the methods of verification as instructed.
Then you come to a page that will tell you to agree to the YouTube partner program terms and use. You have to click on Start and then Accept after clicking all the checkboxes.
After that, you have to sign up for linking your YouTube account with AdSense. You can use your existing AdSense account if any or create a new one. Choose the account you want to link your YouTube to.
Click the option of Preferences in Monetization. The option says to monetize the existing and future videos. select the ad formats like sponsored cards, overlay cards, skippable video ads, and display ads, and Save your option.
Once you attain the criteria of the number of watching hours and subscribers you will start earning money from Youtube.
Use YouTube tools and features available to you
Several tools help to gain views and subscribers for YouTube. These tools help you to move forward and increase views and subscriber count through the video content of your channel.
Some of the popular tools that can come to use are
Keyword Tools
There are many keyboard tools that you can use for deriving great traffic to your YouTube channel. You can use YouTube Autocomplete which is a very easy way of finding the keywords that users search for most frequently.
For example, if you type Pancake the first three options might be “Pancakes” “Pancake Recipe without eggs” and “Pancake recipe in Hindi.” In this way, you can understand just what your audience would want to search for in your niche.
Keyword tool.io is one of the most popular keyword tools for YouTube that helps you to create a list of keywords from your Autocomplete data.
Google keyword planner can be a great asset when you want to target specific keywords for your customers in the video content. You can take the help of a Google Keyword Planner to come up with specific keywords that would help you to increase traffic to your channel.
This would help you in getting recommended by Google algorithms and YouTube algorithms when people search for that specific keyword in the search box.
Social Blade
SocialBlade is very helpful YouTube tool that would help you to track the numbers and figures on social media channels that includes YouTube, Twitter, and Instagram as well.
It helps to check your subscriber count, your page views in traffic. You can also understand the position of social media channels for specific countries or regions you find influencers. You can also carry out competitor analysis and generate a report.
Canva
Canva is a tool that can be used for a variety of purposes like creating thumbnails, ebooks, banners, and contest pages. It comes with a variety of predesigned images that you can use to create YouTube banners in different appealing fonts.
The templates and designs are mostly free and you have a variety of options to choose from. However, there is also an updated version that gives you access to even more features that you can configure in your YouTube strategy to enhance the look and feel of your channel.
Buzzsumo
Buzzsumo is a digital marketing tool that encompasses techniques to help you to identify and zero in on content that trends on YouTube.
For any topical competitor, you have a content search generator where you can enter any topic domain to find out which articles or video content are performing the best in your niche.
Also with their BuzzSumo YouTube analyzer, you get an in-depth understanding of the world of video making. You find unique ideas for your videos to get to compare them with Facebook videos.
It helps to identify some innovative ideas on Facebook that have become popular but have not yet been explored on YouTube.
With their “full insights” feature you can get access to a plethora of information about a video. This gives your clear ideas as to why some videos perform better than others and how you can improve the quality of your videos to get more viewers and subscribers.
Coschedule
CoSchedule helps your internet video content marketing strategy to run smoothly without any inconvenience. Since video marketing increases content marketing results by almost 100% it is advisable to create video content for more shares that impact your target customer.
CoSchedule has a variety of features like Headline Analyzer, planning on how to distribute video content, how to record and edit content, publishing, and promotions schedule. So it helps you to ensure 360 degrees planning on promulgating your video in the online domain.
Hootsuite
Hootsuite can help you plan and schedule your videos on different social media platforms at specific times, and manage the smooth publishing of your YouTube content.
The paid version comes with a lot of features and helps you to manage more than one YouTube account as well as moderate several comments on videos. This saves you ample time to concentrate on content creation.
YouTube Creator Academy
Creator Academy is an online learning platform by YouTube that offers free courses to help YouTube partners and users to help grow their businesses. It assists to improve the channel performance figures and create more focused videos.
If you are serious about starting a channel you should opt for the Creator Academy course that will help you in the various aspects of the YouTube monetization process.
The courses include
- Getting started with youtube. Here you learn about the channel foundations.
- Content strategy for youtube. The curriculum helps you to make great content production
- Channel optimization ways to make money and create a successful business on youtube.
- The final course is the policies and guidelines course that lay down the rules for video making.
YouTube Creator Academy has a lot of popular courses like the quick start to YouTube insights with YouTube Analytics and getting discovered. They come under the Channel Optimisation course. You can visit the Creator Academy page for more details
Bitly
Bitly is a great tool to help you with the promotional aspect of your YouTube videos. Your objective is to promote your content on as many digital platforms as you can. You will need to post your links to the YouTube content and channel for driving traffic.
A tool like Bitly helps you to shorten the URL which can sometimes turn quite long and appealing. It’s a common pattern that people don’t like to see long URL links. The links look disorganized and complicated.
Bitly helps to keep your URL succinct and improve your click-through rates (CTR) vastly.
Tubebuddy
Just like Buzzsumo, TubeBuddy might be your option to manage a hassle-free YouTube channel. It is a free browser extension that you can integrate into your YouTube channel. It comes with a mobile app as well.
A TubeBuddy can help to improve the quality of your YouTube channel immensely. Through this tool, you can carry out advanced keyword research, split testing, templates, post-scheduling, and comment filters.
It helps you to test the tags, thumbnails, descriptions titles, and every other element that helps to improve the performance of your YouTube channel.
TbeBuddy helps in the competitor analysis and tracks your rankings. It can also help you to compare your analytics with that of your competition in Google searches. There are several plans for agencies, networks, video creators, as well as brands.
Vid IQ
VID IQ as the name suggests is also one of the most popular YouTube marketing tools that help to monitor your analytics for the YouTube channel.
It helps you to create a brand out of your YouTube channel by sourcing the true potential of your video marketing. They put a lot of importance on social media shares, the duration of watch time, and tags.
The key features include
- Helping To Generate Thumbnails
- Comparing Statistics
- Information On Trending Videos
- Competitive Analysis And Giving A New Real-time Idea Of Statistics.
Vyond
You might have seen in a lot of YouTube videos the feature of whiteboard animation. It is the most aesthetic way of getting a point across in video content. It helps in the retention of information better as well.
Vyond or GoAnimate as it was earlier called is a tool that helps you to create animated videos conveniently. You get a variety of options. It is a paid tool that helps you create professional videos that rake in viewers with attractive layouts.
Small business owners, consultants, university professors, big enterprises, human resources, marketing, and sales professionals, everyone has a solution at Vyond.
They have a library of sound templates that can help you achieve higher conversion rates. You can add voice-overs, and characters to change the background with a simple click. It is one of the easiest tools to maneuver.
Evernote
Evernote is a writing tool that comes with speech-to-text audio, simple audio, and text notes along with other features. When you are planning to create a video you need to create audio content as well to go with your video.
You can use their efficient speech-to-text feature to create detailed audio text as well as recording. This helps to go back to them and edit them whenever you want.
When you enable their text-to-speech feature they generate text while you speak. It can be an unexceptionally useful app when you want to jot down something quickly lest you forget.
Since it comes with very convenient to use mobile apps as well Evernote can be regarded as one of the best features for your everyday work for content creation on Youtube.
Agorapulse
Agora Pulse is a management tool for YouTube that helps to moderate accounts, separate negative comments seamlessly, and engage with users and fans in real time.
They come with some advanced features like checking brand and product mentions, saving recurrent similar YouTube replies, and managing accounts on several social media channels. They also come with organizing YouTube comments in a separate inbox
The digital industry loves to implement AforaPulse as a digital marketing tool. It helps YouTubers to keep the system of strategizing organized. Helps in managing and monitoring content strategy, collecting different statistics, and categorizing audiences.
Pixlr
Pixlr is a digital photo editor that helps to create appealing photographs. The tool opens every image format like Jpg, Png, Webp, and SVG. Automatic background removal uses of artificial intelligence tools to create the most professional-looking edits are some features.
You can create thumbnails, incorporate artistic photo effects, color tools, advanced color picker, fill, and gradient tools from there to photo editors available. We can add layers, and effects, and incorporate a variety of visual content for YouTube to get the attention of your viewers. It comes with web and mobile applications. There is integration between the two no matter the device you use.
Woobox
Woobox connects your YouTube videos with your Facebook account. You can upload all your YouTube videos on a Facebook tab and your followers, friends can access those videos without having to open any other page.
It greatly facilities your increase in the number of subscribers from social media channels. Since Facebook is the most active social media platform, integrating your YouTube videos with FB will invariably get you more customers and followers thereby increasing your brand presence.
Facebook features those videos and your friends and visitors can click on those particular videos along with the others you uploaded in the gallery without leaving the tab at all.
Strategy and Planning
After you have taken cognizance of all the tools and features available to you for monetizing YouTube, you will have to strategize a plan to create quality content.
You have to make your YouTube video sought after and widely approved. This means it should get the most number of shares on social media and should get viral on different digital platforms.
The advantage of social media is that once a video comes to the notice of a particular set of people they are more than willing to share it with a maximum number of people on online platforms. This provides a whole lot of attention and your views and subscribers list increase manifold.
Make sure you have an incisive understanding of the topic you’re choosing, the basis of your video content. Do your research, spend your time thinking of new angles to a particular story, and then present it to your audiences. The content should be fresh original creative and should have a “never seen before” feel to it.
Methods of earning from YouTube channels
Youtube Partner Program and Advertising
You can become a YouTube partner or just set up an AdSense account to start featuring ads on your channel. YouTube partners have the advantage of leveraging the different benefits of income opportunities.
Premium, subscription fees, features, fans wallets channel membership, merchandise along with advertisements are unique features available to Partner Programs.
YouTube Premium comes with super chat payments in selected countries where your followers can get their message highlighted by paying a certain amount of money in a live stream.
You can also only concentrate only on the ad revenue from Adsense. Your criteria are that you have to be 18 years old and above and create content that is advertising-friendly.
This enables you to get more advertising since the companies are more comfortable running ads on content that are not controversial. In that case, you get money only after your visitor views the entire ad or spends a specified duration of time on the ad.
Promoting and selling your products.
YouTube can be a great way to display your products. This gives you the edge of being a content creator on YouTube as well as an entrepreneur selling the items through awareness on YouTube channels.
You can strategize, innovate, and design your product. Engage with your visitors in audiences by promulgating them on YouTube. If you have a website for your product you can link them to a YouTube video with detailed instructions as to how to proceed to the website and make the purchases.
Affiliate marketing and Sponsored Content
Brands small and medium business enterprises corporate organizations leverage the advantages of affiliate marketers and influencers that have a strong fanbase to promote their products on their videos. Here you directly negotiate with the organization without having to go through the monetary streams of youtube.
As affiliate marketers, you get a percentage of the purchase as a commission whenever your visitor clicks the link of that product on your YouTube video.
For influencers who promote sponsored content on that channel, you get a certain amount of fee for promulgating that product or service online irrespective of whether you make a sale or not.
You can also incorporate affiliate marketing with YouTube monetization. This means that your video will have a certain number of ads along with its duration and you will also get money if your visitors view the ads as well as click on the link for the affiliate product. But they can go simultaneously.
4. Crowdfunding
YouTube recommended a list of crowdfunding sites to choose from. We only have to set up a crowdfunding account and solicit donations for making the videos and covering the expenses.
You don’t charge any extra money for the information you provide to your audiences since they are already donating money for the video you are creating.
In the case of crowdsourcing or crowdfunding make sure you have a sound strategy in action where you define your specific goals to the people bearing the expenses of your video.
You should delineate the points of your content so that your visitors and subscribers know what to expect. They have the liberty to donate as much as they want.
Some crowdfunding strategies
To research crowdfunding, its elements, and the rules and regulations of the funding process is the primary duty of a content creator. You should also have a thorough idea of your target audience and create marketing materials that align with your project.
Ensure The rewards to your investors are worthwhile. Connect with your investors and subscribers to show them your goals and objective of making the video and how it can be of value to them. After creating the YouTube video, disseminate on the different social media channels for maximum visibility.
Licensing your Content to Media and Other channels
As you open YouTube as a viewer you might have seen images and videos that are published by a certain channel but is not their original content. This is known as licensing your content to media and other channels in return for a certain amount of money.
When your content gets very popular, media channels might want to have a copy of your video to show to their audience base to create brand equity.
If your niche is aligned to their business they will pay you for the content, video, and images from your channel. You can then charge money for licensing your most popular works to a media.
However, it requires you to have an updated contact page on your YouTube channel so that media outlets can easily get in touch with you. Be circumspect as well. You should also have proper policies and guidelines in place so that your content is not misused.
Syndication of content is a very normal process in the digital world today. Several content creators make use of this method of earning money through digital channels. Make sure you have significant control of your work. You grant limited permission for licensing of your media if you want
For example, you might want them to use your media but not alter it or change the essence in any way.
There are also several video content marketplaces that enable content creators to manage their videos. They also enable the smooth monetizing of videos across platforms with control over rights and branding.
Research and understand what licensing your content to media covers to avoid any issues when your work is used by media outlets.
Conclusion
As YouTube is one of the most influential video marketing platforms it offers scores of opportunities to make money on Youtube. This trend is here to stay for a long time. That is because Youtube is going to only grow with independent musicians, entrepreneurs, and other individuals exploring the medium for business and earning.
Whether it is video marketing, talent display, direct marketing, affiliate marketing, influencer marketing, or plain video creation for entertainment the only thing that should remain constant is the efficiency of your content to attract subscribers and viewers.
Youtube empowers you to become a brand in the online world. It gives you the opportunity of new avenues for earning. This article above has tried to explain the process through a detailed list of the tools you can employ and the methods to implement for a successful YouTube monetization process.
When you have the pension for creating appealing videos you can have a very flourishing career in YouTube marketing. There are several examples of YouTube celebrities and influencers earning lakhs by sound planning.
You can be one of them. Just go through YouTube to make the optimum use of every resource available for creating and disseminating videos for success.
