Step-by-Step Guide: Achieving Monetization on YouTube in 2023 You’ve invested significant effort into creating multiple engaging videos for your YouTube channel. You’ve dedicated countless hours and resources to mastering YouTube SEO and understanding the YouTube analytics platform. Your knowledge of the YouTube algorithm is extensive, making you a bona fide YouTuber. Now, you’re eager to start reaping financial rewards for your hard work.
You keep hearing success stories of prominent YouTubers like Graham Stephan, who, through his personal finance channel, rakes in substantial earnings, reportedly around $6 million per year. So, the burning question is: How did he achieve this, and how can you start generating substantial revenue too?
In this guide, I’ll walk you through the steps to get monetized on YouTube and what you need to have in place to turn your YouTube account into a lucrative venture.
I have 1000 Subscribers on YouTube to Get Paid?
To begin earning money through ads on YouTube, you must meet the requirements for the platform’s Partner Program. You need at least 1000 subscribers (with a minimum of 4000 watch hours in the past year) on your main YouTube channel, or 1000 subscribers (with at least 10 million public views in the past 90 days) for a YouTube Shorts channel.
Does YouTube Pay Monthly?
YouTube pays AdSense earnings every month. You can monitor your estimated earnings on the Payments page of your account. After each month, YouTube updates your revenues for that month, and payments are typically made between the 21st and 26th.
What Is Needed to Monetize a YouTube Channel?
Before you can start earning significant income from your YouTube channel, you need to have the following essential components in place:
- Quality Content: High-quality, engaging content is the backbone of a successful YouTube channel. Without compelling content that captivates your target audience, strategies like advertisements or influencer marketing won’t be effective.
- Video-Making Equipment: In addition to great content, it’s crucial to have the right video-making equipment. Viewers make quick judgments about a video’s quality, and poorly edited videos can drive them away. Utilize video editing software tools and YouTube Studio tools to refine and enhance your content.
- Collaborations with YouTube Influencers: Partnering with established YouTubers in your niche can significantly boost your channel’s visibility, especially for new content creators. Collaborations help expose your channel to a broader audience.
How to Get Monetized on YouTube: Step-by-Step Guide
Follow these three steps to transform your channel into a reputable source of income:
Step 1: Meet YouTube’s Requirements for Monetization
Most YouTubers generate the majority of their income through YouTube AdSense. However, meeting specific requirements is essential before qualifying for the YouTube Partner Program. Here are the prerequisites:
- At least 1000 subscribers on your main YouTube channel or YouTube Shorts channel.
- A minimum of 4,000 watch hours over the past year for a traditional channel.
- At least 10 million views over the past 90 days for a YouTube Shorts channel.
- An AdSense account linked to your channel.
- No pending violations of YouTube’s community guidelines.
- Residency in a country with access to YouTube’s Partner Program.
If you haven’t yet achieved the required subscriber count, focus on increasing your content output and optimizing for YouTube SEO. Conduct thorough keyword research and strategically place them in your video title, description, and tags to enhance visibility.
Understanding your audience’s preferences is equally important. Conduct audience research using customer surveys and YouTube Analytics to gather data on demographics, viewing habits, and content preferences.
Step 2: Apply to YouTube’s Partner Program
Once you meet the subscriber threshold and fulfill other guidelines, proceed to apply for channel monetization. Here’s how to do it:
- Sign in to your YouTube account and go to YouTube Studio.
- Navigate to Features > Monetization via the sidebar.
- Agree to YouTube’s Partner Program terms and link your AdSense account or create a new one.
- Set your Monetization preferences and click Start.
The process of applying may take as long as 30 days to complete. Use this time to grow your channel and create new content. Ensure you adhere to YouTube’s policies to avoid rejection, which can occur if you engage in suspicious tactics or violate copyright rules. If rejected, you can reapply after 30 days.
If approved, you’ll become eligible for AdSense income. Your profitability will depend on audience growth and content volume. Remember, if your subscriber count drops below the required threshold or you cease content creation for six months, YouTube will remove monetization from your channel.
Step 3: Explore Other Money-Making Opportunities
While ad income is a significant revenue stream, there are various other ways to monetize your YouTube channel:
- Channel Memberships: If you’re at least 18 years old with over 1000 subscribers, you can implement channel memberships. Offer exclusive content and benefits to members in exchange for a subscription fee.
- YouTube Live: Live sessions can be highly engaging. YouTube offers features like Super Chat, Super Stickers, and more, allowing fans to purchase and use personalized items during live streams.
- YouTube Premium: Subscribers to this service can enjoy ad-free videos on YouTube, and creators receive a share of the subscription fee.
- Affiliate Links: This is a straightforward way for new content creators to monetize. Recommend products to your audience and earn a commission when they purchase through your affiliate link.
- Crowdfunding: Platforms like Patreon enable creators to receive funds from fans who appreciate their work. Offer exclusive content to donors as an incentive.
- Merchandise Sales: Established channels with a loyal fan base can sell branded merchandise to their audience.
- Online Courses: If you have expertise in a specific area, offer online courses to your audience.
- Paid Sponsorships: Once you have a substantial audience, you can endorse brands in exchange for a fee.
Conclusion
There are numerous ways to monetize your YouTube channel, and the key is to experiment with various methods to determine what works best for you. For new content creators with smaller audiences, affiliate marketing, online courses, and crowdfunding are viable early monetization options. Additionally, consider complementing your channel with a blog to provide consistent inspiration for your video content and offer opportunities for promoting affiliate links
