YouTubers aren’t paid by YouTube for the videos they upload on their channel. Neither the monetization of videos happens on its own. For creators to start making money on YouTube, they have to enable monetization in their YouTube account settings. From there, they get the option to join the YouTube Partners Program or have their videos posted on YouTube Premium.
YouTube channels can be monetized even if the creators don’t have millions of subscribers on their channels. Creators’ earning potential isn’t determined solely by the number of subscribers and views they have on their channel, but also by the level of engagement they generate, the audience they cater to, and the revenue channels they explore. However, this doesn’t mean that number of subscribers doesn’t matter. Now in this article, we will tell you some ways to earn money on YouTube:

Affiliate Marketing

This is one of the most practical and easy ways to monetize your youtube traffic and is most suitable if you are planning to make product review videos on your channel. As an affiliate to any brand, you can earn commission on the basis of providing potential leads and spreading product awareness. You have options like Amazon associates or endless opportunities where you can affiliate with a brand easily. There are sites available which can provide you with brands that are looking for affiliation like ClickBank or ShareASale. These sites will help you with potential corporate partners. It is not very complex to work with and the following are a few basic steps you need to take-
  1. Firstly, you need to find a company or seller who is interested in affiliate marketing and join their programme such as Amazon associates. 
  2. After your application has been reviewed and accepted the next process of creating custom links will start. You will use that links when you feature the same products in your video.
  3. Reviewing any product or giving a demo in the video about the same product attach your custom link in the description box. 
  4. Lastly, inform your viewers about the description box’s link and notify them about how it actually works.
 

By joining the YouTube Partner Program and earning money from ads:

The first revenue stream that creators should consider is ads. Whether someone wants to earn money on YouTube without creating videos or as a content creator, joining the YouTube Partners Program and enabling monetization is an important step. Creators are eligible to apply for monetization once they hit 1,000 subscribers and 4,000 watch hours over the past year. It must be noticed that the number of views the creator gets doesn’t correlate to revenue earned. If the video gets thousands of views but no one watches or clicks the ad then the creator won’t make any money. This is due to the fact that YouTube bills advertisers when a viewer clicks an ad or watches the ad in full so creators also get paid only when this criterion is fulfilled.

Selling products or merchandise:

There are many products that creators can sell to make money through your YouTube channel. It includes selling merchandise like t-shirts, coffee mugs, tote bags, snapbacks, etc. not only increases revenue but also increases your exposure by bringing the channel’s online brand and personality out into the offline world and deepening the relationship between the creator and his fans as they literally “buy” into what creator is doing.

Create sponsored content:

This is also a form of affiliate marketing but works a little bit differently. You get paid from youtube by landing brand deals. It functions like companies that are interested in your audience will run a sponsorship for your video or can offer a product placement deal and in return, you will do shoutouts about their product/brand. This method is more suitable for established channels that have a certain list of subscribers that a company is looking for. Landing brand deals can provide you with decent money, free products and service, and commissions on each final sale. 
You also need to be mindful about notifying your viewers that this video is paid promotion brand deal. You can tick the box in the advanced setting of the video manager to highlight that this is a paid promotion video. 
 

Licensing made by the creator:

If a creator creates a video and it goes viral with mass appeal for example a funny clip that becomes a popular meme. The creator can license that video in exchange for money. Nowadays TV news outlets, morning shows, online news sites, and other creators reach out about rights to creators whose videos go viral.

Working with companies and promoting brands:

Companies are investing more and more in influencer marketing by spending their huge advertising budgets on influencers who’ve already won the heart and loyalty of their audiences. This creates a massive opportunity for YouTube creators; they just need to negotiate the right deals. The creator should be transparent about partnering on brand-sponsored content, he shouldn’t advertise anything that he doesn’t like or believes in and should be true to his audience about the reason he decided to do it.

Crowdfunding:

Crowdfunding is a very common way how YouTubers to obtain money. As the name suggests you can raise funds from the millions of crowds that come on your channel. If you are looking for building your revenue or want to fund a personal channel you can solicit donations online from your viewers. 
Firstly, you should start by opening your crowdfunding account. Youtube has a list of approved crowdfunding sites you can choose from. Kickstarter and GoFundMe are one of the most famous sites available. Secondly, you can run a campaign about your fundraiser mentioning your goals and why is it important for you. You can even go beyond youtube to promote your campaign. That is how you will slowly start earning your fund. 

Fan funding:

This procedure for bringing in cash on YouTube incorporates a couple of various revenue sources, however, they all have one thing which is common: creators need to make it simple for their fans to show their appreciation with their credit cards.

Super chat

This feature is only available to YouTube Partners while they live stream. Using these features, viewers can make their comments more visible—they’re highlighted and pinned for a set amount of time depending on how much they pay—in the live chat stream.

Channel membership

YouTube offers the chance to let the viewers of a channel pay to become members of that channel. In exchange, they get benefits that are exclusive to members only like custom emojis, badges, and access to members-only exclusives like Live Chats with the creator.

Encouraging the audience to subscribe to YouTube premium

It doesn’t benefit the creator directly as the creator gets a cut from the subscription fee when the premium member watches the videos on his channel. It also increases the revenue of other creators in the same way.

Conclusion

Youtube has improvised over the past decade and now you can do much more than just upload your video or any sharing it. Many people literally earn just from youtube without any side jobs. You can also inculcate these tips and start monetizing from your youtube audience. Hopefully, this was informative and helpful for you.