14 best ways to make money on YouTube in 2020.
- Cost-free donations
- Paid donations
- Get paid to answer viewers questions
- Crowdfund a project or goal
- Google AdSense
- Channel memberships
- Getting & finding sponsors
- Use affiliate links to make money on YouTube
- Merchandise your brand
- Get paid for shout-outs
- Multi-Channel Networks
- License viral content
- Use YouTube to grow your ecommerce business
- Collect viewer emails and start a newsletter
1. Cost-free donations
Rechaaarge enables content creators receive cost-free donations from their audience with it’s tools and live alerts.
How to get started:
- Activate cost-free donations by connecting your YouTube account
- Share your profile and let your audience know that they can donate to you for free.
- Start receiving cost-free donations!
Rechaaarge also gives you your own private dashboard where you can keep track of your progress, create and track goals, and even give some of your earning to charity.
2. Paid donations
There are a number of sites out there that offer a way for viewers to donate to or ‘tip’ creators on YouTube:
Streamlabs is a free tool that is a simple and popular choice to set up donations on your channel and make money on YouTube.
YouTube has its own donation feature called Super Chat that allows the viewer to pay to highlight a message within live chat so they get noticed.
Tippee is a site that allows viewers to set up once off and recurring donations to their favorite creators.
Worthyt has what they have termed ‘appreciations’ which your viewers can send to support you through your profile.
PayPal.me lets you link to a page for people to go to and send you money.
3. Get paid to answer viewers questions
Worthyt offers an additional way to make money over and above paid donations. If your video content in some way provides value to your viewers, whether this is by entertaining, teaching, or by showing a special talent; then they will likely have questions they want to ask you. By putting prices on the answers, Worthyt helps you monetize your content.
This is a great idea because again, not only are you monetizing your channel, but you are also increasing your audience engagement.
4. Crowdfund a project or goal
Patreon is a monthly subscription based platform that allows fans to support their favorite creators on YouTube while also allowing you, the YouTuber, to reward your viewers. This is great option as it will give you a steady revenue stream while also giving your viewers access to exclusive content and benefits.
GoFundMe and BuyMeACoffee are two other crowdfunding platforms you can use to make money on YouTube. If you go the crowdfunding route it is vital to have a compelling reward for people who choose to support you.
5. Google AdSense
This is still the easiest and most frequently used method to earn money on YouTube, so if you haven’t already, be sure to set it up.
You need to be a part of the YouTube Partner Program before you can integrate Google AdSense. To do so, you just need to submit an application to create a new AdSense account to link with your YouTube account.
Setting up an ad campaign is quick and easy. However, keep in mind that in order for you to get paid the viewer needs to have their ad blocker turned off and watch the ad for at least 30 seconds. Thankfully you can tailor ads to your audience so they will be more likely to stay tuned.
6. Channel memberships
Another option for YouTubers is to have a channel membership that viewers can pay to join. In order to qualify you need to be part of the YouTube Partner Program.
Channel members pay to have access to exclusive perks. Be sure offer a number of member benefits to make it worthwhile to your viewers. Typical perks include members-only posts, access to exclusive live content, additional videos, shout-outs, news of upcoming events, early bird ticket sales and more. By providing original perks you can increase and stabilize your YouTube income!
7. Getting & finding sponsors
Once you have a big enough following, another way of making a decent amount of money on YouTube is by getting sponsored. Typically, this means you will be paid by brands to promote or mention their products in your videos.
Not to miss an opportunity, YouTube purchased FameBit in 2016. Famebit is an agency that connects video creators with companies who want to sponsor their content. Other agencies to check out that do much the same thing are Grapevine and Chamboost.
Sponsorship can be a great way to make money on YouTube. A word of caution: when choosing brands to partner with, choose ones that you genuinely like to avoid ‘selling out’ and losing your authenticity.
8. Use affiliate links to make money on YouTube
If you make tutorials using tools or gear that viewers can purchase Amazon Associates provides an easy way to link items from Amazon into your YouTube videos. Viewers can click directly to the page using your link to purchase the items.
As with sponsorship be sure to use tools or gear that you actually like to use.
9. Merchandise your brand
YouTubers can be said to be a type of self-made celebrity. As with traditional celebs, followers value personal connection, which can be achieved and monetized though the sale of branded mugs, t-shirts, tote bags etc. Not only does this increase exposure, it also deepens the relationship between you and your followers.
Though this may sound like hard work, it’s easier than you think. In fact YouTube has teamed up with Teespring who can handle the entire process for you!
10. Get paid for shout-outs
Another rather innovative idea is to allow followers to pay their favorite influences to shout-out to a specific person or for a specific occasion. The site is called Cameo and if you haven’t checked it out yet you should! If you have a big enough following this is easy way and effective tool to make extra money streaming.
As an influencer on the platform you set your own price per shout-out. Cameo handles the whole process and for this they take a very reasonable 25% of your revenue.
11. Multi-Channel Networks
If you are a YouTuber but don’t have time to manage every aspect of your video production, joining a MCN can help to grow your channel and your income. MCN’s help creators with product, programming, funding, cross-promotion, partner management, digital rights management, monetization and sales, as well as audience development usually in exchange of a percentage of their AdSense revenue.
12. License viral content
Those YouTubers that are lucky enough to create a video that goes viral have the additional option to get paid for licensing their content.
This may happen organically. As a YouTuber with viral content you may be contacted by news outlets, brands or other creators asking about the rights to use your user generated content (UGC). Another option is to list the video with a licensing company like Junkin Media that allow premium brands, publishers, and media networks, to commercially utilize UGC videos.
If you want to know more about how Junkin Media has changed the face of UGC read this article on Mashable.
13. Use YouTube to grow your ecommerce business
As an online business, YouTube may be one of the most underrated marketing tools at your disposal which you are probably ignoring. You can use YouTube like any other marketing platform to inform viewers about your offering and deepen brand awareness.
The top benefits to using YouTube as a marketing channel are:
- Because YouTube is owned by Google, having YouTube videos will improve your search rankings
- YouTube is the second largest search engine in the world so by having a YouTube presence you will increase your reach
- Video is a different type of content so by using YouTube you offer another medium for viewers to consume your content
NEED HELP! You are not familiar with ecommerce or wondering how to start an online business? Here are a few good platforms and free webinar to learn how to create a successful business online. I have personally tested two of those community platforms. Give it a try, It is free to look into it. My favorite among them is Wealthy Affiliate, where you can learn how to build a website, write rich attractive content with high ranking keywords search tool, learn about SEO and rank fast. They are also offering the hosting plan for your website (3000 + website templates to choose from) directly on their platform. There is thousands of training available and it is free to signup to try it out as long as you want to. The other similar platform is the Super Affiliate System that actually walks you through how to start an online business from scratch and make compelling youtube video through the art of efficient web advertising.
14. Collect viewer emails and start a newsletter
If you have an ecommerce business, merchandise, or interact with viewers in other ways, Upscribe can increase monetization.
Upscribe creates an embedded form in your video content that allows you to collect emails from your audience. You will then be able to target them through an email newsletter to increase engagement and drive them to make a purchase or another action.
To conclude, YouTube offers many ways to make money whether directly or indirectly. As the second largest search engine in the world it is underutilized as a content platform but for those that use it well it provides a way to monetize your passion into real income.
*Honorable mention : Parts of this post are information taken from the rechaaarge blog post of 2019 – rechaaarge.com
Olivier | Founder
and writer at money4gaming.com