How to Make Money on YouTube In 2023

Are you looking to make money on YouTube? Well, you can definitely make money from your channel by taking advantage of the many monetization options available.

Some people have gotten rich from uploading videos on YouTube and exploiting different mechanisms of making money on the platform.

In this guide, we will explore different ways of earning money on the platform and tips on how you can enhance your chances of succeeding.

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How to Make Money on YouTube In 2023 7

Making Money Online on YouTube

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How to Make Money on YouTube

YouTube, a platform owned by Google’s holding company, Alphabet, is one of the new ways of making money online that is accessible to anyone who’s willing to give it a try.

However, succeeding on the platform is not guaranteed unless you are willing to work hard and be patient.

Once you get there, here are some ways you can earn money from your YouTube account.

Set up an AdSense account

If you’re serious about making money on YouTube, then setting up an AdSense account is a must-do. You can then start exploring all the ways the program can help turn your videos into an income stream.

How to make money on YouTube with ads

AdSense is Google’s advertising platform. It lets YouTube share a part of ad revenue with the YouTube channels.

Setting up an AdSense account is incredibly easy—all it takes is a few clicks to complete your registration:

  1. First, create an AdSense account if you don’t already have one. You can do that within YouTube Studio.
  2. When you set it up, you have to verify personal info. This will be required if AdSense needs to verify your identity when you get paid.
  3. In addition to that, you have to provide your tax details. Google withholds taxes if you are American on the earnings you generate from viewers within the U.S. Providing your tax details ensures that you are subjected to the correct rates.
  4. You should provide a form of payment that YouTube will use to send your funds.

You can access your finalized YouTube earnings easily because YouTube has a dedicated AdSense for YouTube homepage in AdSense.

If you use your AdSense account for more than just YouTube payments, it can affect the timing of your payment.

With YouTube AdSense, you’ll be linked with ads that will appear in or around your content, and you’ll receive payments for every click or impression these ads get.

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Join the YouTube Partner Program

To join the YouTube Partner Program, your channel needs to be successful enough first. Your channel should have at least 1,000 subscribers and 4,000 watch hours in the past 12 months.

To find the program, click the account’s icon in the top right corner, then click YouTube Studio, and from the left-hand menu, choose other features, then monetization .

You don’t have to join the program to make money on YouTube because you can get paid through your AdSense account for getting views. However, being a Partner gives you access to more features and revenue streams on the platform.

When you are on the YouTube Partners program, you not only make money from the ads, but also have access to Super Chat, merchandise, channel memberships, and YouTube Premium subscriptions.

Therefore, to make more money from your videos on YouTube, consider becoming a part of the YouTube Partner Program.

When you join the YouTube Partner Program, you gain access to analytics and data management tools that shows you how well your content is doing and the type of viewership it’s getting.

With that information, you can determine what works best for your channel so that you can focus on creating more of the kind of content that generates income.

Don’t forget that when you join the YouTube Partner Program, you’ll be able to link ads to your videos, so viewers can watch with ad interruptions and you can collect revenue from those ads.

You are also allowed to add affiliate links in your descriptions, so viewers click on them and you earn a commission when they make a purchase.

Signing up for the YouTube Partner Program is simple because it only takes a few clicks on the site to complete your registration.

Once you have been approved, you can start exploring the various ways that the program can help you make money with your videos.

The great thing about this program is that it doesn’t require any special skills to get started. You only need to know how to use YouTube’s features. Besides, there are many tutorials online that can help you get started.

Sell Products

YouTube Shopping lets you showcase and sell your products and official branded merchandise on the platform. You can sell products like branded items or digital products like an eBook.

You can sell products on your channel’s store, product section below a video or livestream, end screen, or via the pinned product feature in live streams.

Sell merchandise on YouTube

If your main hustle is selling products, you can leverage YouTube’s powerful tools and features to reach more potential customers by promoting your products directly from your channel.

You can link your channel to an e-commerce store, like Shopify or Etsy, where viewers can browse and purchase items related to your content. This will allow them to make purchases right away without having to leave the page.

You can also create a separate website to handle purchases and link to it directly from the video.

If you are in the YouTube Partners Program, you can use the product shelf feature to sell your merchandise. There are rules for eligibility and you need to meet the requirements to qualify.

To market your products, you can talk about them in the video or set up ads that appear either in or around your videos. Ads are triggered by keywords and target specific audiences, making them perfect for reaching out to potential customers who may be interested in what you have to offer.

Additionally, if you have affiliate links in your descriptions, people clicking those links will earn you a commission when they buy something.

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Work with brands as an influencer

You can strike partnerships with brands to get paid directly when you endorse their products on your channel. YouTube will not get a cut.

Here are some tips on making money as an influencer on YouTube:

  • The key to becoming a YouTube influencer is to have a large active audience. If you have a large audience that is highly engaged, you will make more money and can charge more for your endorsement.
  • You should focus on brands that offer products that are related to the kind of content you create because your audience will be primed those products. For example, if your content focuses on engineering topics, you will do well promoting courses or products that are science or engineering-related and if your target audience is children, you can promote toys.
  • Join an influencer marketing platform. There are aggregator websites that help companies find influencers who are relevant to their brands to work with. A good example of this is YouTube BrandConnect, which connects YouTubers with brands.

YouTube influencers make more money on YouTube on average than on other platforms like Instagram Stories because YouTube videos cost much more to produce.

Remember to be transparent and reveal that you are advertising something to abide by Google’s Ad policies or your government’s guidelines on advertisements.

Being transparent also builds trust with your audience thus you should always let them know that you are promoting a product or service to them.

Endorse Affiliate Products in Your Videos

You can market products to your YouTube audience and earn a commission when they buy.

Just like sponsored content, you promote products sold by a merchant, whom you can find through an affiliate network.

Then when your viewers visit the brand’s online store or specific product pages via your affiliate link, you earn a percentage of the sale.

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Monetize Live Streams via Super Chat

YouTube has a feature called Super Chat where creators can make money on YouTube from their fans during a live stream. It used to be called Fan Funding.

Super Chat feature on YouTube

This feature can only be used by YouTube Partners while they host live chats, which shows you the importance of joining the YouTube Partners program.

A Super Chat essentially makes a comment more visible in a live chat during a stream. A super chat gets pinned for a set amount of time depending on how much someone pays.

Start Offering YouTube Channel Memberships

Channel memberships are yet another way to monetize your content on the platform. When you offer memberships, you earn extra money from your content without putting in a ton of extra work.

Channel membership available via the join button

When you start a channel membership, your YouTube channel will have a “Join” button.

This plan was launched by YouTube to give creators the opportunity to offer exclusive benefits to passionate fans.

When your subscribers pay a monthly fee to join as channel members, they gain access to exclusive content such as members-only community posts, bonus content, and exclusive live streams.

You can also offer your members custom emojis, loyalty badges, merchandise discounts, exclusive Q&A sessions, and behind-the-scenes footage.

The whole point of having channel memberships is to give loyal viewers perks that make them feel special.

You can set up various membership levels each with a different pricing. YouTube takes a 30% share of your profits.

Viewers can buy memberships “in bulk” and give them away to other viewers. For example, someone can buy 15 memberships and give away 14 to other people who are fans of your channel.

To be allowed to offer YouTube Channel Memberships, you have to be in the YouTube Partner Program, have at least 1,000 subscribers, operate in an approved country, not have content that is “made for kids,” not be a constant violator of YouTube policies, and accept the terms and conditions.

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Making Money from YouTube Premium subscribers

YouTube Premium is different from a channel membership because it is a subscription service that offers an ad-free experience on the entire platform and across all devices that are linked to the account.

YouTube Premium

In addition to the no ads experience, users can download videos for offline playback and can access YouTube Music.

As a creator, since you cannot earn from premium subscribers through ads, you get paid by YouTube when they watch your videos.

License your content

When a video goes viral, many media outlets will want to get their hands on it to replay it for their audience. Media companies will pay for the content and that is yet another avenue for making money on YouTube.

License your most viewed content and ensure that it is easy for them to contact you. Have your contact details available on your page for business inquiries.

How to Be Successful on YouTube

Here are some tips on how you can improve your odds of succeeding on YouTube:

  1. Create Engaging and Informative Content

To succeed as a YouTube creator, you must create engaging content. Here are some tips to help you get started:

First, understand your audience. Learn who are they and what kind of content they enjoy. This should inform the type of videos you create and the topics and titles that you use to attract viewers.

To find out who your audience is and what they like, you can engage with them through comments, replies, polls and other interactive features. Doing so will help build relationships with them, which is needed for long-term success.

Secondly, ensure that your videos have a clear focus and purpose. With well-defined goals for each video, your content will be focused and on-topic.

Finally, to keep things exciting and fresh, you can experiment with different types of content such as tutorials, vlogs or skits. This also enables you to stress-test different kinds of content and know which ones perform best for your channel.

If you focus on making engaging content that’s interesting and relevant, you will improve your chances of success on YouTube—good luck!

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  1. Promote your YouTube content on other platforms

To take your YouTube channel to the next level, you should promote it on other platforms.

You can start building awareness and driving engagement by sharing teasers or snippets of your videos on social media platforms like Facebook, Twitter, or Instagram. You should also write good video descriptions.

Besides, you can join relevant forums such as Reddit and Quora where you can engage with viewers and find new followers.

You should also try out paid advertising whereby you run paid ad campaigns on social media platforms like Instagram and Facebook. Such campaigns allow you to target users based on aspects like location, gender, or age, which will ensure that your message reaches the right audiences.

  1. Collaborate with other YouTubers

You should consider collaborating with other YouTubers who have similar audiences to yours in order to cross-promote each other’s content.

Find influencers who have audiences similar to yours and reach out to them proposing collaboration ideas such as creating a series together, guesting on each other’s channels or sharing each other’s content. You can host giveaways on both channels.

When you decide to collaborate with other YouTubers, make sure that you both benefit from the project.

For example, if you’re creating a series together, you need to agree on what kind of content will be featured and how it should be promoted. This will ensure that everyone involved gets maximum exposure.

Collaborating with the right people is an excellent way to increase your reach and build relationships in the YouTube community.

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How much money do YouTubers make per year?

The amount of money you will make creating content on YouTube depends on factors such as the size of your audience, how well you monetize your videos, and the type of content you produce.

For context, if you run a small channel with fewer or a little more than 1,000 subscribers, you will earn less than a video creator who has tens of thousands of subscribers because on average, they will have more viewers. If you earn $5 per 1,000 views, that shows you how much the number of views and, subsequently, size of audience has a say in your earnings.

Experienced YouTubers with large followings can earn significantly more because they can access other income streams because they can join the YouTube Partners program. Then they can sell merch or start channel memberships. Some of the most popular channels have earned millions over the years.

The more you exploit the different ways of monetizing your YouTube channel—such as through advertisements or sponsorships — the more earnings you make. Therefore, it’s important to explore all options in order to maximize earnings.

Overall, there is no correct answer for how much money the average YouTube channel can make per year since earnings depend on so many variables; but with hard work and dedication you can be successful.

Final Word on Making Money on YouTube

You can make money on YouTube without having to constantly make videos. The good thing with posting videos on YouTube is that once you publish your video, it can keep accumulating views and making money for you.

There are various ways of making money on the platform, such as affiliate marketing, Sponsorships, Advertising Revenue, Selling Merchandise, Digital Products, Coaching Services, and Membership Programs.

The key to making money on YouTube is to explore all the avenues you can monetize your content.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

How to Make Money on YouTube In 2023 7

David Fortune has been the editor since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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