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How to Monetize Your YouTube Channel

Just starting out on YouTube or planning to launch a channel. Don’t do it without being clear about your vision for the channel and how you can monetize it. After all, YouTube will be making money from you being there and you should too.

YouTube has two billion active users according to omnicoreagency.com. It is also the second most visited website in the world after Google. With an average of 500 million hours of content watched daily, there is a lot of competition and content vying for those YouTube checks.

The highest earner on the platform in 2019 was Ryan Kaji, raking in $26 million. Most YouTube channels get paid $0.5 per 1000 video views and YouTube pays $18 per 1,000 ad views on average.

While it is a worthy aspiration to have your content viewed enough times to get you regular checks, you need a plan for sustaining yourself and your channel while you grow your subscriber based. 

You are going to be investing time and money on equipment to create content for your show. All of this will come at a cost. Here are some ideas to deploy to provide additional sources of revenue from YouTube even before you reach 1000 subscribers.

Create Merch
Do you have a mantra that you live by? A phrase that encompasses your brand? Create a t-shirt, cap, hoodie, cup, bag, etc. which can be sold. No need to do all. Pick something that you believe will connect with your audience. Less is more.
Wear your merchandise when you’re recording. Post a link in the description to where they can be purchased.
Ask us to support you with a purchase and by sharing.

Sell a Template
Have you created a spreadsheet or database that can make it easier to collect and process basic tasks? Sell it via your channel.

Sell a Service
Can you coach me, design graphics, or cook healthy meals? Provide a way for us to support or tell people about what you do along with the great content you share on your channel.

Find a Sponsor
Does your channel align with brands in your community that may need to reach your audience? Ask them to sponsor. Don’t stick a commercial in your show and call that sponsorship. Use your channel to showcase the business and how they can solve our problem. Let us see you using their products or service in how you live your life.

Ask Your Community to Sponsor

You would be surprised that the people who are viewing your content will invest in your channel. Create a way for them to show their support directly. Offer special access and content for their sponsorship.

Affiliate Marketing

Are there products that you love to use? Most large brands and even smaller ones offer affiliate and ambassador programs. With affiliate marketing, you get a special code that allows you to earn money every time someone buys the product via your link. 

Remember

If you are receiving compensation for the content, be sure to say that explicitly in the description.

Have fun creating your content.


Nerissa Golden is media and business strategist and the author of seven books, including In Plain Sight and The Making of a Caribbeanpreneur: Strategies for Overcoming Fear and Building Wealth. Follow her on Instagram or LinkedIn for more tips and ideas to help you grow as a Caribbean entrepreneur.