How to Monetize Your YouTube Channel in 2023

Being a content creator on YouTube is no small task, especially if you’re putting in much effort without generating substantial income. You may be thinking of quitting your 9-5 job to concentrate on YouTube content creation, but you’re unsure how to make an income with it.

Besides creating quality content for your target audience, your content may only generate income if you follow some specific guidelines.

In this article, I have provided insight into how to generate income through YouTube channel monetization techniques.

The YouTube Partnership Program (YPP) Monetization Method

YouTube is one of the few content-creating platforms that wants its creators to succeed. It has included a YPP program that helps creators monetize their YouTube channels. So here’s how you can get started;

1. Join the YouTube Partnership Program (YPP)

Once you create your YouTube channel, the YPP allows you to access valuable resources such as its monetization feature and creator support team. Using the YPP is one of the best ways to start earning from your YouTube channel.

Here are some requirements you’ll need to meet to be accepted into the YPP:

• You need at least 1000 subscribers and 4000 watch hours to qualify for the YouTube Partnership Program.
• YouTube has to know and be sure they can trust the content you’re giving their viewers. Your content must be appropriate for the viewers you are targeting. Misleading content could get you flagged.
• It would be best to reside where the YPP is available.
• YouTube doesn’t allow content that is directed at selling particular products. These could range from alcohol to promotions of unlicensed medical services. You can check out YouTube’s creator guidelines for some help.

Don’t stress too much if you have applied to the program and weren’t accepted! You can reapply after 30 days of your last submission. But remember to make the necessary corrections to your videos before reapplying.

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2. Set up a Google Adsense for your YPP

Additionally, after setting yourself up for success, you need to create a Google Adsense account. The Google Adsense account will help you manage your analytics when you turn on ads for your videos.

Don’t forget to keep creating valuable content for your audience and only promote products or services you genuinely like and would buy.

Benefits of the YouTube Partnership Program (YPP)

1. Revenue from Ads

Ad revenue is the main monetization feature on YouTube. In short, the program allows creators to earn money through advertising. When you turn on ads for your videos and a viewer watches that ad, the revenue is shared between you and YouTube. It’s shared in a 55:45 ratio; you get more and YouTube less.

2. YouTube premium

YouTube’s premium feature uses a monthly subscription plan for users. It grants viewers access to special features on the YouTube platform. As a creator, when a YouTube Premium member watches your content, you earn a part of their subscription fee.

3. Channel memberships

Here, viewers support their favorite content creators by paying a sum of money to them. In return, those viewers get special access to the creator through exclusive informative videos and even one-on-one live sessions with the creator.

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4. YouTube’s merchandise shelf

YouTube has been able to organize a program that gives YouTubers the ability to create merchandise and sell. If you have a product you think you can make money from or have an idea of the product, you might want to use YouTube’s merchandise shelf to get it across to your target audience.

5. Super chats and stickers

The super cheats and stickers feature allows viewers access to a pinned display of their comments during live streams. The viewers donate money to creators and, in turn, have their comments pinned to the top during live streams.

5 Bonus Tips to Make Extra Income on Your YouTube Channel 

Although the YPP program is the easiest way to make income on YouTube for most creators, you mustn’t rely solely on YouTube to give you money. You need to be proactive and find other ways, and if you are not lazy, you can make additional income using one or more of the following methods

1. Creating and selling digital products

Create something, a course, a planner, an app? It could be anything. The good thing about this is that you only have to work once to complete it. So the income you generate becomes a recurring, passive income.

2. Creating and selling physical products

Now, if you feel you can’t create something digital to benefit your viewers, you can start selling physical items. Depending on your niche, you should be able to sell a product that projects that niche. If you’re in the food niche, you could sell kitchen supplies. In the beauty niche, you can try beauty products.

However, remember to always give valuable content to your viewers instead of advertising your products all the time. It sends red flags.

3. Joining affiliate programs

Affiliate marketing is another excellent way to start making money on your YouTube channel. You have to sign up for affiliate programs and advertise their products on your channel, and when anyone uses your link to purchase that product, you get a part of that purchase.

Make sure what you’re advertising is relevant to your viewers. Also, you need to follow up on the products you’re promoting. You don’t want to recommend things that are outdated or don’t work anymore. People won’t trust you, and trust is what you need.

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4. Getting sponsorships

Sponsorship from brands is also a great way to monetize your YouTube channel. You reach out to brands and companies you love and persuade them to pay you some money to promote their business in your videos. It would help if you also remembered that the sponsorships you get should be relevant to your viewers. It’s not mainly about you; it’s about the people you’re speaking to.

If this is done correctly, you’ll build trust with your viewers. They, in turn, will like your videos, putting you on YouTube’s recommendation list. YouTube will keep pushing your videos to others who need them, leading to more views. It’s a win-win!

5. Offer services

As a YouTuber, you have a lot of skills like video editing, filming, SEO, etc. With these additional skills, you can offer to work for your viewers. The skill could be related to the niche your YouTube channel is about.

You can also offer personal coaching services on your channel’s topic. It could be anything; there is no limit to getting creative.

Conclusion

Providing consistent and meaningful YouTube content can be a very demanding task; that’s why it’s good you gain from your effort.

There are many opportunities to monetize your YouTube channel. You must find the right one; this might mean trying multiple methods. It will help you know what works and what doesn’t, and then you can focus on the ones that work.

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