Make money on Youtube: 5 ways to earn $500
Everybody knows that if you get millions of views or you have a huge audience, you can actually make money on YouTube.
What do you do if you have a small channel or you’re just starting out?
In this article, I’m going to break down five practical ways to make money on YouTube, even if you have a small audience or channel and also share some advanced tips.
If you have a small audience and a small channel or you’re just starting out now, you may have heard some of these strategies before.
I believe that in this article you’re going to learn some advanced tips and some creative ideas that you’ve never thought of before.
1. Youtube Ads
The first way to make money on Youtube is through YouTube ads.
The problem is that rates average $2 per 1000 Views (CPM).
If your goal is to make $500 on YouTube, you would need 250,000 views.
Youtube ads monetization is calculated through CPM rates. These vary based on different factors, like the category of videos you are producing. You can average $2, $5, $10 or even $15 per 1000 views.
I would estimate $2 per 1000 Views, just to stay on the lower side of the bracket. If you can make $5, then it’s good for you. But one thing I suggest you when doing estimates, stay on lower numbers.
Youtube ads can be very lucrative if you get hundreds of thousands of views.
This is not the recommended way to make money if you are just starting out, or you have a small channel.
2. affiliate marketing
Affiliate marketing is a better strategy if you want to make money on Youtube, compared to Ads.
But what is affiliate marketing?
Affiliate marketing is when you sign up for an affiliate program, like Amazon Associates. After subscribed, you will receive a custom link that you can put in your Youtube video description. When visitors click on that link, you can earn a commission of the item (or service) sold.
Affiliate marketing is about ANYTHING you can imagine. You can promote beauty products, technology stuff, even insurance services.
You can literally sell anything, that’s why affiliate marketing is the most favorite way to make money online nowadays.
Let’s say you have a channel where the topic is food. You can add affiliate products like stoves, kitchenware or even recipe books.
This is why affiliate marketing is my favorite way to make money on Youtube. You can add up sales quickly, reaching that $500 target you have on your mind.
What is Crowdfunding? It is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
Ever heard about Patreon? If you have a project that first gives people value, you can ask them to be supported economically through this way of crowdfunding but remember that before people support your project with their money, you need to give them VALUE first.
For example, you could create a channel giving advice on how to raise a child (if you have raised one, of course). People interested in this topic may find value from your videos and can support your project.
Remember that this is not a common and easy way to rack up $500 per month. People are skeptical first hand, so you need a lot of work to gain their trust (and their money, of course).
4. sell your products
Sell your products is the easiest way to make money on Youtube if you already have a physical store in place.
Through videos, you can reach a number of people that 1000 times the one you reach physically on your store.
This is the power of e-Commerce combined with social media channels. And Youtube is THE place to be right now if you want to get in front of thousands of potential customers.
What product can you sell? Everything. From T-shirts, accessories, books, jewelry, digital products etc..
Similarly, if you have a freelance service, Youtube is a great channel to reach customers.
For example, let’s say you are a lawyer and you make videos explaining juridical topics (I’m not an expert). You could reach potential customers on Youtube, and sell your services via Skype or similar software.
Obviously, money varies depending on the product or service you sell.
5. brand deals
Brand deals are about creating videos for companies and brands in exchange for free products and/or money.
One myth of this way to make money is that you need a huge audience before companies and brands do business with you.
If you are a trustworthy person that makes good videos and have a niche account, companies and brands can see a way to reach a targeted audience through your channel.
It works the same way as Instagram micro-Influencers make money. In this article on Instagram, I explain that a trend to watch in 2019 is companies and brands shifting to micro-influencers to reach a small, but more targeted customers.
This way you can grow your trust and partnership with companies and brands, and it’s a common way to make money on Youtube, and earn that $500 you are looking for.
I recommend you to always use those 5 ways together to make money on Youtube. If you make less from one channel, you can rely on the second one or the third one and you will be amazed at how much money you can make in one year from the advice above, even if you have a small channel.
Remember that the key is always to make great videos. This is what attracts customers. In other words, you can have the most beautiful product to sell, but if you don’t have customers, nothing counts.
Let me know in the comments below which way you prefer to make money from Youtube, or which one you currently use.