How to Make Money on YouTube in 2020
So, it’s 2020. The year of…constant surprises. And now you’re ready to branch off in a new direction: YouTube revenue!
If you want to make money on YouTube in 2020, it’s going to take some hard work. That’s why we’ve put together this 4-step guide (that’s right 4, not 5!) to make your new project a little easier.
Let’s get started. Here are 4 steps to making money on YouTube in 2020.
#1 Become a member of the YouTube partner program
The first – and arguably most important – step to making money on YouTube is becoming a YouTube partner. When you become a partner you are then qualified for the ability to have a merchandise shelf, an increase in your advertising revenue, and YouTube premium revenue. Before applying, you must meet the following criteria:
- Live in a country or region where the program is available
- Have a channel with 4,000 watch hours in the last 12 months
- Have a minimum of 1,000 subscribers to your channel
- Have a linked AdSense account
Some of These criteria can be met by buying views on YouTube and buying subscribers, however, YouTube will review your channel to make sure there is quality content before approving you for the partner program.
Once you meet the criteria, go to your profile and
- Click on your profile picture
- Click Youtube Studio
- Click Monetization in the left-hand menu
- Follow the prompts to apply
#2 Get an AdSense account
This one is pretty straightforward. You’ll need an AdSense account to qualify for the YouTube partner program, and there’s a super simple guide you can follow to get one.
When advertisers want to buy video ad space they use AdSense to bid, with prices based on audience, keywords and topics.
#3 Sell directly to viewers
Something you can do to make money on YouTube in 2020 without actually becoming a YouTube partner is selling services or products to viewers (although it will be a lot easier if you are a partner).
In order to effectively sell merchandise you must identify your audience, imagine and design your product, promote your product in your videos, build engagement, and link to your sales platform.
Any and all YouTube creators can sell personal merchandise/services through their videos. If you choose to do this you can
- Add a link to your own shop or landing page that sells merchandise
- Add a link to an outsourced merchandise company that handles design, shipping, and other factors.
- Set up a merchandise shelf. This will only work if you are already a YouTube partner and have reached 10,000 subscribers.
#4 Win sponsorship
When you have a channel with a large number of views and subscribers you are ready to find sponsorship. Sponsorship means you negotiate with sponsors who then pay you directly. Here are some tips on finding sponsorship:
- Find a quality partner brand
- Send them your brand pitch
- Make a deal. Your rate will depend on your audience size, engagement, and relevance
- Create sponsored quality videos
- Be transparent – you’re legally required to let your audience know you’re advertising to them