How To Make Money on YouTube in 2023: A Detailed Guide

Making Money on YouTube is one of the best ways to make money online and create passive income. 

YouTube is the second most popular social platform on the internet, with over 2.6 billion monthly users worldwide. YouTube is an excellent platform if you are looking to earn money on social media. Since its inception, YouTube has paid more than $50 billion to creators. As of November 2022, Mr. Beast is the highest-paid YouTuber, earning $54 million in revenue.

If you’re a content creator who loves making videos, YouTube is an incredible opportunity to make money doing what you love. You can start earning money online from youtube by creating engaging videos that attract viewers.

If you want to learn how making money on YouTube works, then continue reading as we share ways you can make money from YouTube. 

How to Get Started 

Find a Niche

The initial step to earning Money through YouTube is to discover your Niche. Identify the subject matter you are passionate about, the topics you love, and the type of videos you enjoy creating. By narrowing down your interests and dedicating your focus, you can produce videos that resonate with your audience, which in turn can generate revenue.

Think about what excites you. It could be cooking, fashion, tech, cleaning, games, lifestyle, or fitness. Create content about those things. 

Before starting a youtube channel, it’s essential to pick a niche that genuinely interests you and focus on producing content about that topic.

Create a YouTube channel. 

Now that you’ve decided on your Niche, creating a YouTube channel is next. To do that, 

  • Head over to YouTube and sign in to YouTube with your Google account 
  • Once you’ve successfully signed, click on the profile pic at the top right corner of your screen. A drop-down menu appears, then click on “Create Channel.”
  • Go ahead to set up your channel. Pick a channel name, a profile picture, a channel description, and a banner.

What’s next?

Create exciting and engaging content on your channel.

Producing engaging and exciting videos is crucial to achieving success on your track. Such content attracts more viewers, expands your audience, and generates revenue. Therefore, ensuring your videos intrigue and satisfy your viewers is vital.

Here are some excellent ideas for your videos:

Tutorials: Teach people new things. You can show them how to bake yummy cakes, make websites, or draw beautiful art.

Reviews: Review products on your channel and help others decide if they should get them. But remember to be honest and fair.

Travel Vlogs: Take people on adventures with you! Show them fun trips you go on or what your day is like.

Livestreams: Talk to people in real time! You can use special features like Super Chat and Super Stamps to make it even more fun.

Interviews: Talk to interesting people! Find cool and important folks to ask questions and share their stories.

Original Content: Be creative and make awesome videos that nobody has seen before. Surprise and entertain your viewers.

Remember to use keywords and phrases that people search for, add links to your other videos, and describe your content well. This will help more people find and watch your videos.

Making fun and exciting videos will bring in more viewers, grow your channel, and help you make Money on YouTube. Keep working hard, earn great videos, and you’ll achieve the financial success you want.

How to Make Money on youtube

YouTube partner program (YPP)

This is the easiest way to make Money on YouTube. The YouTube partner program gives YouTubers a chance to monetize their channel. 

Before you get access to YPP, you need to 

  • Reach an amount audience which will discuss later in this post
  • Your channel must follow YouTube monetization policies 
  • Live in countries where YPP is available 
  • Have no active community strike: YouTube gives creators a strike when creators violate a rule. A creator should be at most three strikes in 90 days unless their account will be deleted permanently.
  • Be sure the 2-step be is turned on for your Google account 
  • Have an active Adsense account ready to receive payment.

Ways you can make Money with YPP

YouTube Ads Revenue

For many YouTubers, their primary source of income comes from advertisements on their channel. These ads are short video clips that appear before or during other videos. Whenever someone watches one of these ads, the YouTuber gets paid.

YouTube promotes other people’s content on your channel and compensates you when your audience views those ads. These ads can be for various things, such as games, apps, or websites. The more ads you allow on your videos, the more money you can earn. However, leaving your viewers alone with enough ads is crucial, as it can irritate them.

Requirements you should meet before placing YouTube ads on your channel

  • Be at least 18 years of age
  • Live in a country where YPP is eligible 
  • Ensure that the content is friendly to advertisers.
YouTube channel membership 

Subscribers can access exclusive content for a small monthly fee by becoming a YouTube channel member. It’s like belonging to a secret club that only select subscribers can join. Members receive unique content that is not available to others.

Setting up a YouTube channel membership is simple, and growing your membership is easy. You can inform your followers about your channel membership in your videos and provide a link for them to join. 

YouTube Chan membership helps you expand your fan base and allows your followers to show their appreciation while earning you some extra income.

Promote your Online Store

Are you aware that you can effectively promote your online store on YouTube? YouTube Shopping lets eligible creators attach a direct link to their store, making it easier for customers to purchase products.

This method has proven to be highly successful in boosting sales and advertising your business. It is also a way to let your viewers support your online business.

Make Money from YouTube Premium 

Did you know that YouTube offers a premium version where users pay to watch videos without ads? Interestingly, creators still earn money when premium members view their videos. This revenue comes from the subscription fee paid by premium members who view the content.

Super Chat and Super Sticker

Super Chat and Super Stickers connect fans with creators during live streams. Viewers can buy Super Chats to highlight their message within the live chat or Super Stickers to get an animated image that surfaces in live chat. 

Eligible creators also make money from them when they go on YouTube live. Super Chat and Super Stickers are ways viewers support their favorite YouTuber.

Go Live and accept Super Thank you. 

“Super Thank You” is one of the ways YouTubers make money from their youtube channel. “Super Thank You” means viewers express gratitude to creators during live videos. This feature lets creators earn money from the tokens viewers purchase to unlock animated features during live videos. 

It’s a fun way for viewers to show appreciation towards the creators. Creators make money from those animations that viewers buy on live videos to show appreciation to creators.

Other ways you can make Money on YouTube 

Outside the Youtube Partner Program (YPP), creators can also make Money on YouTube through the following ways.

Sell Affiliate Products 

A standard method for YouTubers to earn money is through affiliate marketing.

Essentially, affiliate links are special links that can be added to video descriptions such that when people click on these links and make a purchase, the creator earns money. In a way, it’s like giving a recommendation and receiving a special thank-you for it.

However, this approach is most effective for channels focusing on product reviews. On these channels, creators purchase products to review and include product links in their video descriptions. Viewers interested in buying the products can use the affiliate links, which allows the creator to earn a commission at no extra cost.

 Create Sponsored Content 

A great way to earn money on YouTube is by creating sponsored content that aligns with your channel. Collaborate with brands and businesses looking to promote their products and receive payment for your efforts.

Often, these brands will send you products to try and review on your channel. This allows you to demonstrate how to use the products, share your thoughts on their quality, and whether you like them.

Sponsored content is an enjoyable way to make money while engaging with your audience. It is essential always to maintain honesty and share genuine opinions.

Furthermore, adhering to your country’s regulations for endorsing goods or services online is essential. And it is crucial to partner only with brands compatible with your content.

Crowdfunding/ Fan Funding 

Creators on YouTube have found an additional means of earning money through crowdfunding or fan funding. This allows viewers to demonstrate their support for a particular project by paying a one-time fee.

However, it is essential to note that YouTube charges a commission of 5% and a fee of 21 cents on the total earnings made by the creators.

FAQs

How to Receive Payment from YouTube 

If you are making money with the YouTube partner program, you need an active Adsense account connected to your bank. That way, YouTube pays you directly to your bank.

Does YouTube pay monthly? 

Creators on YouTube receive monthly payments typically between the 21st and 26th of each month. The minimum payout balance is $100. However, the payment process involves YouTube first sending the funds to your AdSense account, which then processes the payment and transfers it to your linked bank account.

How Much Does YouTube Pay for 1000 Views? 

The amount of earnings from 1000 views varies based on factors such as the location of your viewers, your Niche, and the type of content you produce. On average, 1000 views can generate earnings ranging from $3 to $5.

How Many Views/Subscribers do I need to Earn on YouTube? 

To qualify for the YouTube Partner Program and begin earning, it is necessary to have at least 1k subscribers and 4000 watch hours in 12 months.

Additionally, a YouTube channel must have 20k subscribers to qualify for the YouTube Channel Membership Program.

Conclusion 

Creating a YouTube channel is a surefire way for individuals to make money online. It’s important to note that producing engaging content can lead to monetization, even if that’s not the primary goal. You can transform your hobby into a revenue source by crafting captivating videos that viewers love. While the YouTube Partner Program is the most common way to earn money, YouTubers also utilize affiliate links, sponsored content, and fan funding to boost their earnings. Consistency and building a relationship with your audience are crucial to expanding your channel into a profitable platform. Remember that becoming a successful YouTube content creator is achievable with consistency and effort.

1 thought on “How To Make Money on YouTube in 2023: A Detailed Guide”

Comments are closed.