YouTube has around 1 billion users every month, and there are 1 million creators in its Partner Program. There are a number of ways in which you can make money on this giant site, provided that you package whatever you have to offer in a way that is appealing to the target audience. Let us delve into some of the creative ways to make money on YouTube:
1. Creating products and promoting themYou can create products and promote them, including apps, music, ebooks, or even art work. You can do this by adding them to a shopping cart and then creating videos about them, which you upload on YouTube. You need to add a link to your video’s description.
2. Creating a web TV seriesThis is ideal if you enjoy telling stories. You can create a drama or comedy series, or even talk shows.
3. Monetizing your videos with the YouTube Partner ProgramTo do this, enable your YouTube channel for monetization. This option allows you to earn some income via advertising. You get paid after every 1000 views on your videos. To monetize your channel:
- Visit the monetization tab on account settings
- Click 'enable my account'
- After clicking, you become a YouTube partner
- You then need to verify your channel via visiting www.youtube.com/verify. This will allow access to some features like, series playlists and YouTube live.
4. Test-marketing your productsYouTube is an ideal source for market research. If you have an idea, you can test it here and discover whether it will become profitable or not. The views and comments on your videos will reflect your idea’s feasibility. The audience can also help you improve on some of the aspects of your idea. If your product needs funding, for instance, creating some videos is better before you create a campaign on Kickstarter.com.
5. Starting a competitionIf you have a video, you can start a remix competition, just like Mariah Carey’s Fan Club. If you can make the competition exciting, and have a great reward, your company or project will get a lot of exposure. Make it a win-win situation, where your contestants win something, and you gain viewers or traffic.
6. Directing Traffic to your site or blogYouTube is an ideal way to increase traffic on a monetized blog or website. Google’s Creator Playbook will come in handy. After set up, you can actually repackage some content into videos or even create new videos. Ensure that you link to your site in the first line of your video’s descriptions.
7. Selling products as an affiliate marketerThis is one of the most creative ways to make money on YouTube especially if you have no website or products to sell. You can sell other companies’ products, including large companies like Amazon and eBay. Joining an affiliate network like Commission Junction (CJ), ShareASale.com, and ClickBank is also a good option. To sell these products, all you need to do is review the affiliate companies’ products or create 'how to' videos and upload them on YouTube.
8. Sharing your knowledge via tutorialsIf you have some knowledge, create video tutorials. Whether it is beauty tips, how to make money online or even how to prepare some cuisines.
9. Uploading videos of your child or petThere are people who have made stars out of their children or pets, for instance the 2 cats, Lil Bub and Grumpy cat. You could follow suit. The next time your child has a funny look on their face or your pet chases your child’s pet frog, just shoot the video and upload it on YouTube.
10. YouTube RentalsThis is one of the most recent creative ways to make money on YouTube. Content creators offer their content for rent. They then share a portion of the profits that YouTube makes. However, YouTube is yet to clarify whether this service will be available to all users.
11. Signing up your own sponsorsIf you have a substantial audience, sign up sponsors for your programs who may want to advertise their products and services.
12. Going freemiumThis concept entails giving away free content, and holding back some of the best behind a paywall on your website. Some of the people could visit your site and pay for the exclusive content.
13. Making sponsored videosThis is referred to as product placement or live reads. If your video has very many views, companies can feature their products on them. Companies will contact you and offer their products for you to recommend on your videos.
14. Settings annotations to link iTunesThis works if your channel has no copyrights. Enable your annotations to link to iTunes or Google Play. To do this, set 'enable' on annotations and add it on your video. You can then begin selling downloads.
15. Ensuring YouTube content ID fingerprintingThis option allows YouTube to match every time your content is used. This brings in more revenue. If your distributor does not offer this, you can use a service like INDmusic or Audiam. This is however ideal for the music niche.
16. Licensing companiesThere are companies that help artistes on YouTube to license their songs for a low rate, for instance, Audiosocket and CueSings.
PaymentIt is important to know how you will receive your payments after utilizing some of the creative ways to make money on Youtube. You can monetize your YouTube channel without linking an Adsense account, but you have to associate it with an approved AdSense account to get paid, and access the earnings in YouTube analytics. If you already have an Adsense account:
- Visit the monetization tab in the YouTube account settings
- Follow the instructions
- This will link the AdSense account to your YouTube account.
All in allYouTube Partner’s head, Bing Chen attests that there are thousands of people who are cashing in on the various creative ways to make money on YouTube. He further adds that these people are from every walk of life. The truth is that most of the successful people on YouTube are just average, every day people, who had some courage to utilize their talents and ideas.
If you have any other creative ways, please share for everyone by comment below, I will add it to this article. Thank you so much!