How to Make Money on YouTube in 2023 (Top 7 Ways)

Jun 14, 2023Business

YouTube is the world’s second most-used social media platform and most-visited website. It is a primary source of videos for more than 78% of the users which has enhanced its popularity for money-making as well. On average YouTube, creators earn $2-$12 per 1000 views.

With the increasing trend in digital shift, making money via YouTube has become one of the most popular ways to earn money. All you need to have is a laptop, internet connection, and persistent hard work and you are ready to earn money.

Here is the list of the most effective and easiest ways to earn money via YouTube.

How to Make Money on YouTube

If you are willing to tap the creativity residing inside your personality and can put in an additional effort, then YouTube can become an effective platform for you to earn money.

For all those who are searching for the most reliable ways to earn money via YouTube, this article has put together some incredible ways that will make you earn 8 digit income and make YouTube a real digital asset for you.

Let’s learn the details about these ways:

1. Youtube Monetization: Use Affiliate Links On Youtube

In simple words, YouTube monetization is defined as the ability to make money through your videos. The good news is that you can monetize your YouTube channel even without ads. You can do this simply by adding affiliate links to your videos. The links are placed within the description area with annotation marks.

Whenever someone clicks that link and buys a product via that link, you will get a commission from the sale of that product. In other words, you will be paid for promoting other products through your YouTube video.

The simple steps to be followed for YouTube monetization through affiliate links are:

  • Add the associated website to your channel
  • Select the affiliate link that is best suited to your audience
  • Cloak the selected affiliate link
  • Add affiliate links to your YouTube videos
  • Start earning commission with the affiliate links

2. Become A Youtube Partner And Earn From Video Ads

YouTube provides you with another interesting way to generate a reliable income stream. Registering with the YouTube Partner Program and setting up monetization is one of the most effective ways to earn money via YouTube.

Before earning money as a YouTube partner, there are some prerequisites to be fulfilled. These are:

  • You must have 1000 or more subscribers
  • You must have a watch time of 4000 hours in 12 months
  • You must reside in a country where YouTube Partner Program is available
  • You must agree to comply with all YouTube monetization policies

Enabling a YouTube monetization through the YouTube Partner Program is just a few steps away. These steps are:

  • Sign In to the YouTube account that you want to monetize
  • Click the icon of your account on the top right corner of the page
  • Click YouTube Studio
  • In the left menu, choose other features and then click monetization
  • Read and agree to the terms and conditions of the YouTube Partner Program
  • Generate a new Google Adsense account or connect the existing one to your channel( An Adsense account is necessary for earning)
  • Explore different monetization features like Ad revenue, premium revenue, channel membership, super chat payments, and merchandise shelf.

3. Make Money on YouTube with Funding from Your Fans

This strategy is especially useful for those who have built an attractive fan following. The only thing you need to do is to allow your fans to express their appreciation through credit cards. For enabling fan funding, you must fulfill the following criteria:

  • Good standing YouTube account
  • You meet the criteria for a YouTube partnership
  • Verify the account with your phone
  • You possess an approved Adsense account
  • You reside in the country where this provision works

The simple ways to set income stream through fan following on YouTube are as below:

  • Host live chats and allow people to employ super chats
  • Inspire your fans to subscribe to your channel and become its member by paying a membership fee in exchange for perks
  • Inspire your fans to become YouTube premium members

Some famous options for fan funding are Patreon, Buy me a coffee, and Tippe.

4. Master Your YouTube SEO

SEO optimization has become a new buzzword for earning money on digital platforms. The same is true for your YouTube channel. The easy way to obtain a good SEO score for your channel is to follow these simple steps: 

  • Name your video file according to your target audience
  • Use the keywords while giving a title to your video
  • Optimize the description of your video
  • Tag the video with a popular keyword that is relevant to your topic
  • Categorize your video
  • It is suggested to upload a custom thumbnail image for your video’s result link
  • Employ an SRT file for adding closed captions and titles
  • Insert cards and end screens for increasing the viewership of your channel 

Once you are done, it is guaranteed that your video will be at the top among all due to a good SEO score and become a good source of earning for you. 

5. Make The Most Of Your Youtube Marketing Funnel

YouTube is one of the most powerful platforms for both marketing and sales if used properly. For building an effective YouTube sales funnel or attracting an increasing number of customers to your YouTube videos, you must follow these steps: 

  • Focus on particular issues that your audience face via educational videos, explainer videos, and short Ads
  • Give solutions to these problems via product introductory videos and tutorials
  • Convince your audience for engaging with your brand through testimonial case studies and demo videos
  • Educate your customers to obtain the maximum from your products or services

Thus, the effectiveness of your YouTube sales funnel is dependent upon the content you create for your customers at every stage of the customer journey.

6. Become an Amazon Influencer

Influencer marketing is becoming increasingly popular among brands for influencing the target audience and inspiring them to engage with the brand. The Amazon Influencer Program acts as an enticing opportunity for all creators like you. The program invites all creators having good viewership to recommend the product and get paid for it.

The key to partnering with brands listed on Amazon for recommending their product or services is to be transparent about everything. As you must not endorse anything that you do not believe in or do not like. Moreover, you must be upfront with your audience about the reason for recommending that product or service.

For becoming an Amazon influencer, you must have

  • A YouTube account
  • You must have a decent number of followers like more than 20,000

The simple steps to earn money by becoming an Amazon influencer include:

  • Get registered by signing up from the Amazon Influencer page
  • Apply to the influencer program by linking your YouTube account to Amazon.
  • Create your storefront and fill your storefront according to the type of content you generate, the products you love, and the adequacy of the brand for you to promote it.
  • Now create the content around the products within your storefront
  • Promote your storefront on social media platforms
  • Add an amazon storefront link in your bio on your social media page, if you want it is your central source of earning
  • You can also include the link of your storefront on the landing page of your website as if it is an extension of your website

Thus, Amazon Influencer Program provides a thrilling and reliable earning platform for all creators having a huge fan following. However, getting into the program can be challenging as Amazon has not listed its requirements clearly.

7. Explore Extra Gains From Youtube Red Subscribers

YouTube red subscribers are now known as YouTube premium members. You can even become a YouTube premium member for free through its one-month trial. For availing of this option, you must be signing up for YouTube premium either for the first time or six months after canceling the previous membership. Otherwise YouTube Premium costs $11.99 per month.

YouTube Premium allows your viewers to enjoy the following benefits:

  • Watch videos without any ads but still support creators of videos
  • Enable users to download videos and watch offline
  • Allow background play and picture-in-picture
  • Offer YouTube originals and music premium

Any of your users can enjoy YouTube Premium if the option is available in that area. YouTube premium is thus all about providing more options to your users by focusing on their needs and enabling them to engage with your brand. Above all, it provides you with an additional way to earn for the content you have already created.  Once you are successful in creating significant membership, YouTube premium is going to deliver you more and more value.

How Much Money Do YouTubers Make?

Are you still sceptical about earning money via YouTube? Then, here is the guide that will answer your ambiguities and tell you how much money YouTubers make. The average estimates discussed below will make you believe that YouTube can be a reliable source of earnings for you.

  • Google gives 68% of its Adsense revenue. In other words, in case of every $100 an advertiser pays, Google pays $68 to the publisher
  • According to an average estimate, a YouTube channel receives $18 per 1000 ad views which is equal to $3-$5 per 100 video views
  • The rates given by the advertiser vary and it usually lies between $0.10-$0.30 per view and on average it is $0.18 per view.

Moreover, you must always keep in mind that Google Adsense and YouTube keep changing their payment terms regularly. Therefore, you must understand all payment policies before starting earning via YouTube.

Another important thing to remember is that you can only cash your earnings when you have a balance of $100.

How Much Can You Earn On Youtube As a Successful Youtuber

You can earn a handsome amount of money through YouTube. Some people are even earning millions of dollars every year via YouTube. The example of some successful YouTubers include:

  • Huda Kattan: Huda Kattan is a renowned trained makeup artist. She started portraying her skills on YouTube a few years ago. After achieving incredible success on YouTube, she launched the most famous cosmetics brand known as Huda Beauty. Her hard work enabled her to earn more than $500-$560 million.
  • Michelle Phan: Michelle Phan is a YouTube makeup and cosmetics guru. She started her career in 2006 and since then her hard work and creativity have made her earn more than $50 million.
  • Ryan Khaji: Ryan Khaji is another interesting YouTube celebrity. He started YouTube at the age of only 3 years along with his parents. Now he is at the top of the YouTube earning charts. In 2019 alone, he earned $30 million from his channel.

How do YouTubers receive money?

YouTubers generally receive money through Google Adsense that pays your amount directly into the bank via cheque in mail or deposit. Some of the necessary steps that you need to follow for receiving payment are: 

  • Verify your payee’s name and address
  • Choose the payment mode and verify whether you want payment through electronic transfer, checks, wire transfer, EFT via Single Euro Payments Area(SEPA) and Western Union Quick Cash
  • Provide tax details according to your location

For making YouTube a decent source of income, you have to continually increase your audience and promote your videos across all social media platforms. 

The Components Of A Successful YouTube Channel

For guaranteeing the success of your YouTube channel and transforming it into a major source of income, your YouTube channel must consist of the following essential elements:

Channel name:

The name of your YouTube channel is the first and foremost important thing your viewers will first encounter. It guides your viewers about the content of your channel and gives a sound foundation stone to your channel. A good channel name will enable your viewers to find it easily on Google and YouTube. The best practice is to name the channel according to your niche and viewer’s needs.

Channel Art: 

The channel art means a large banner that is displayed on the top of your channel page. It is used to communicate the brand personality visually. It is important because it is used to make a strong impression and convey information. The best practice is to use the image that represents your channel.

Profile Picture:

The profile picture is also very important in grabbing the attention of viewers. Having a good profile picture is necessary for branding, making your channel stand out, getting more clicks, and allowing your channel to grow at a faster pace.

Channel Trailer:

The trailer if enabled displays at the top of your channel page and plays automatically for nonsubscribers to attract them. The trailers must have a clear and enticing call to action and inspire people to follow your channel. Thus a good channel trailer is very important for attracting the traffic and converting it into subscribers.

Channel Trailer CTA and Description:

The CTAs and descriptions are the key features of your trailer. The better they are aligned according to the story and name of the channel, the more effective the trailer would be. Both CTA and description must be clear, concise, and inspirational so that viewers subscribe to your channel immediately.

Background Music:

The adequate music and high-quality graphics play an essential role in drawing an audience. Therefore, it is necessary to pick music and graphics that are coherent with your channel theme and content.


Conclusion: Final Thoughts!

Earning money via YouTube is no longer a mystery. The article has presented the most effective ways to make money via YouTube and any of you can pick one of these ways according to your interest and aspirations. Moreover, it has also presented some innovative tips to make your channel successful.

Then what are you waiting for? Go to your YouTube account, select the method of earning,  and start earning from this miraculous digital asset.