Did you know that being a content creator is one of the fastest-growing small business types right now? That means you, yes, YouTube creators, are in the category of growing one of the fastest small business types.
Well, in order to grow a business, though, you need to be making money, so in today’s guide, I’m gonna share with you three ways that you could be making money with your YouTube channel.
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YOUTUBE PARTNERSHIP PROGRAM
One way you could start making money with your YouTube channel is here on YouTube with the YouTube Partnership Program.
There are actually several different ways that YouTube allows you to make money, but here’s the thing. Understanding that YouTube is in the business of helping and sharing content is key. Understanding that YouTube is an ad machine is key.
Now let me break this down a little bit. YouTube is in the business of getting eyeballs to their platform, and in exchange for getting eyeballs to their platform, they pay you, the content creator, a percentage of that.
Now, why do they want eyeballs on the platform? Well, they want eyeballs on the platform because it’s an ads machine, meaning that YouTube is getting paid a lot of money, billions of dollars, from actual companies, and then those companies are running ads on the platform.
So when you watch a video you probably got hit with an ad right at the beginning where you could press the skip button. Because that video was part of the YouTube Partnership Program, the creator gets a percentage of that ad revenue here on the platform.
So, one of the ways you could be making money as a small business here on YouTube is by partnering with YouTube itself.
MONETIZE YOUR KNOWLEDGE
Another way that you could make money with YouTube, and a ton of creators do this, is by packaging your knowledge.
Packaging the knowledge that you have in serving whoever it is that you serve is a great way for you to be able to monetize your message.
There are so many channels that are profiting off of YouTube, meaning YouTube is the marketing machine that then moves people into the next phase which could be your online course.
Now the key to really understanding how to package your knowledge is understanding first that your YouTube channel needs to be in a category, it needs to be in a niche, and it needs to be serving a specific type of person.
And there is a lot of different style of channels that are profiting from packaging their knowledge, everything from fitness to health to motherhood to coaching to financial services. There are so many ways that you could be doing this.
Just creating something isn’t everything, you actually need to know what are the strategies for selling that online course to your audience to serve your audience on a deeper level.
And the third way that you can start making money with your YouTube channel is affiliate marketing. Now this does not mean that this is right for everyone, but this could be your avenue to quitting your job, this could be your vehicle to growing your income streams off of YouTube.
Now, what is affiliate marketing?
It’s just a cool way of you sharing the products, the services, and the software that you love with your audience and getting a percentage of that sale.
And here’s the thing about affiliate marketing. It’s not like with your first couple of videos that you can just go out and become partners with all these different programs. You want to be building influence first.
It’s key to know that you want to build that know, like, and trust factor with your audience before you actually start to monetize off of affiliate marketing.
And you’re going into partnership with these other companies, so Amazon wants to see that you have a track record and they’re gonna require that you fill out a partnership program form.
There are hundreds of partnership programs, affiliate programs, and ambassador programs, and a great way to see if the products and services that you love if they’re part of giving a percentage to their customers or giving a percentage to partners, is that if you go to their website and you scroll to the bottom you can see like ways to partner or affiliate program or partnership program, and that’s how you can start to go through the process of getting into these affiliate programs.
Now I love affiliate marketing because you actually don’t have to create your own products.
As a homeschooling mom on my homeschooling channel, I’m not creating a homeschool curriculum but I’m recommending all of the things that we’re using in our day-to-day homeschool, everything from electronics to books we’re reading to how we’re organizing, and I’m getting a percentage of the sale because I’m recommending it to the people that I know have a problem.
So I want you to get out a piece of paper and I want you to decide on the 20 programs that you would want to be a part of.
Now we’re not gonna go out and sign up for all 20, but I just want you to be thinking about, what’s the gear that you’re using? What’s the software that you’re using? What are the systems that you’re using? What are things that if we were sitting across from each other at a coffee shop and I’m asking you, hey, how do I do X, in your business or in your YouTube channel you can actually give me products and services and recommendations?
Now, these are just three ways that you could be making money with YouTube.
Thanks for reading and I’ll catch ya in the next one