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How to Make Money on YouTube in 2021 [8 Ways]
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Jun 8, 2024
In the video "How to Make Money on YouTube in 2021 [8 Ways]," the creator explores eight effective methods for generating income on the platform. From traditional ad revenue and channel memberships to leveraging affiliate marketing, merchandise sales, and sponsorships, the video provides detailed insights and practical tips for each monetization strategy. By following these approaches, YouTubers can diversify their revenue streams and maximize their earning potential in 2021.
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How to Make Money on YouTube in 2021
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That's the question that we're going to answer today. I'm going to walk you through eight different ways
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that you can make money from your channel. Some maybe have way more earnings potential
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Others may be a lot more work, but I'm going to walk you through the pros and cons
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of each of these eight ways to help you decide where to put in the effort to make money with your channel
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The first way to make money with your YouTube channel is through AdSense and the YouTube partner program
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So this is the most common way where essentially YouTube finds advertisers to put
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put ads on your videos and you, the content creator and YouTube split the revenues from those ads
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So the thing is here, there's a couple things to take into consideration. One, you need to meet the requirements and be accepted into the YouTube partner program to be able to monetize your videos or at least share on the revenue because now YouTube can actually put ads on your videos and not share the revenue with you
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But essentially here is you need to have a thousand subscribers, 4,000 hours of watch time over the last 12 months, and then apply to the YouTube partner program
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We did a whole video about this. I'll link to it up above right here. But once you've been approved by the program
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you can essentially turn on ads on all of your videos, and then YouTube shares the revenue with you
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from those ads. So there can be a huge variation as far as how much you earn per view
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We've seen from 50 cents per thousand views to over $100 per thousand views
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depending on a whole host of factors from what's the content about
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what's the language of the content, what are the demographics of the viewers
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what is the location geographically of the viewer and a whole host of other things
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So depending on the type of content you're creating, this could vary quite a bit as far as how much you're earning per view
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or per thousand views is how it's quoted within the YouTube platform
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But the great thing is here is once you're approved, turn on ads. All you need to do is create content
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You can create any content you want as long as it fits within YouTube's guidelines
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and they will find advertisers and then split the revenue with you. So you create content
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and receive a check from YouTube once a month. The second way to make money on YouTube is through super chats
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So super chats are essentially where you go live and your viewer essentially is making donations to your channel
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So this can happen for a couple of different ways. One, they just love your content and want to help you out
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with a couple of extra dollars. Or maybe you're doing a Q&A. They want to make sure that you see their question
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and answer it during the live stream. The thing is here is, I don't think you're going to, you know
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be able to make so much money and retire because of your super chat income
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but, you know, if you have a huge audience, go live all the time, you know, it's a little bit of
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extra income for you. So someone like Pat Flynn, who goes live every single day since the pandemic started, you know
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maybe he makes an extra $10, $20, $50 a day from doing live streams and super chat
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Someone like David Pacman goes live for a presidential debate or some event like that and maybe
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makes a few hundred dollars. Again, it's not something where, you know, you're going to do super consistently, make tons and
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tons of money. But if you like going live and it's good for you and your audio, you know, you're going to be able to
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your audience, you know, can be some extra income for you. The third way to make money from your
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YouTube channel are through memberships. So for a membership, you want to think, you know
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what content do I want to create or what value can I give above and beyond my normal content
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that's more ongoing? Do I want to do a weekly Q&A live stream or do I want to put out extra
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content or a video a week that unlisted from my members something where some niche part of your normal audience is willing to pay something month in and month out for this exclusive content The nice thing is here is you can create some steady income to know hey I have 100 members or I have 500 members or I have two members and here what they pay
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And so you're creating kind of a steady income from creating memberships
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There's a couple of different ways that you could set this up. So YouTube actually has a platform for memberships
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You'd have over 5,000 subscribers to be part of it or for gaming channels, it's only a thousand subscribers
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You could also use a platform such as Patreon or there's a bunch of ways to set it up on your website
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So the two people I mentioned earlier for Super Chats, so Pat Flynn and David Packman, they actually both have membership plans that are run through their website
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I'll put links to those down below so you can get some examples of maybe how you could set up a membership program for your content
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The fourth way to make money from your YouTube channel is through affiliate marketing. So if you're not familiar with affiliate marketing, that's essentially where you recommend some product or service and you have a lot of your
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link given to you by the specific company where they know that you sent the traffic to them
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And so if someone makes a purchase, they owe you some type of commission
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The great thing is here you don't have to actually have your own product or service
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You essentially need to apply to the specific affiliate program. Once you're accepted, you get links that you can then send traffic to
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And if people make a purchase, then you earn a commission. So this is a great thing for the company that sells the product because they only pay a commission
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if there was an actual sale, and you don't have to have a product or service
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You can just recommend stuff that you like. So the great thing here with YouTube is you could recommend affiliate products on your first video
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On the first view of your first video, who knows, could earn you an affiliate commission
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The thing is here, you need to apply for the specific affiliate programs. So to find affiliate programs for products or services you like
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just literally put in Google X company affiliate marketing or affiliate program
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So as a random example is I get meals from Factor. So they send pre-cooked meals to my house
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This isn't really related to this channel, but I could do a review of the food that I get from there and say
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hey, down below in the description is a link to try out Factor
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And so if you put in Factor affiliate program, you'll see that, hey, they have an affiliate program
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So most companies do have affiliate programs, but you do have to go through the trouble of actually applying individually
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for each of the different affiliate programs. So some companies essentially accept everyone who applies and then some companies accept next to no one
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So it's going to vary by industry and by specific company. But chances are, whatever your niche is, that there are products or services you could recommend
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And then obviously the most common is Amazon. So any YouTuber or any big YouTuber a lot of time will essentially put their camera gear down in the description of their videos
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Those are, you know, Amazon affiliate links. And so if anyone clicks on those makes a purchase, they're going to earn
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a commission. No matter what your content is, you could potentially apply for the
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Amazon affiliate program and then earn money for making recommendations through them or any
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other product or service you want to talk about on your channel. The fifth way to make
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money from your YouTube channel is through merchandise. So merchandise is a way
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where big YouTubers make tens of thousands of dollars from their channel. So think
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hoodies, mugs, stickers, pens, bags, things like that. The thing is this is much easier to manage
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than what you're thinking about. This isn't you and your with a garage full of products that you
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have to ship out and hope you sell So if you work with companies such as T you know essentially what you do is you create an account you create the products you want So you essentially upload your designs to you know the T and bags and whatever
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And then when someone makes a purchase, they actually produce it and ship it for you
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So they accept the payment. They create the product. They ship it for you. They need it with returns
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And you just needed to basically set it up to begin with and push people to making the purchase
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The other cool thing is if you're part of the YouTube partner program, you can create what's called the YouTube merchandise shelf
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And so essentially what happens is your products are actually displayed below your videos. Someone's watching your videos
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They see the merchandise. They click through make a purchase. It gets shipped out to them and everything else
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And you receive your money from selling your merchandise. And so for the right audience, if you think some of these products would be interesting to them
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you know, it might be worth checking out, hey, how do I set this up and start making money from merchandise
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The sixth way to make money on YouTube are through sponsored videos. So there's a huge variation of how much money you could make from sponsored videos
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And so some big YouTubers probably make hundreds of money. of thousands of dollars just for mentioning something in one of their videos
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But if you're just getting started, you might have to settle for receiving some free
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product to do a review of it. The thing is here is it requires quite a bit of upfront work to make something like this
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happen, where either you have to find the brand, reach out to them, pitch them, you know
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really explain the value that you're going to provide with your content, or as your channel
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grows, you'll have brands actually reach out to you, especially if you have a captive
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audience within a specific niche that that brand wants to reach out to. So you're going to basically have to take care of all the negotiations, you know, set a price
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what the content's going to be. A lot of times you're going to have to show them the content before you publish it on your
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YouTube channel. And you want to make sure it's a good fit for your audience because if you're just hucking
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all sorts of stuff to your audience and it's not stuff you believe in, you like, you'd
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ever use, you're going to lose that trust with your audience. But if it's something that you're just in love with, this is a product I've been using
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for 10 years, the best thing is sliced bread. You won't have a problem pitching this to your audience because you really believe
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in it. And so it's a great thing of like, hey, I love it. They're actually paying me to create
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something I would have probably created for free because I love it so much. And so that's a great
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fit for your audience where they can tell that you're really passionate about something, not just
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trying to get paid to create content. Also, you don't want to be creating content that's not
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really aligned with what your audience likes because if your audience is over here, the sponsor
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product is about this, your audience doesn't like it. They're not going to view it. That video is
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not going to get a ton of views, interactions. And so your audience is mad that you you created the video and the advertiser's mad because not a lot of people viewed it and there
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wasn't a lot of positive feedback. And so sponsored videos are something to be careful with
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Make sure there's a good match between something you're really passionate about, you know
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the company that you're working with you really like and you think it's something that's good
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for your audience. Well, before I forget it, I want to let you know we have a free YouTube
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masterclass. It's a one hour training where we're going to walk you through a whole bunch of tips
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to help you grow your channel and make more money from YouTube. If you're interested in signing up
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I'll put a link down below in the description. The seventh way to make money on YouTube is through selling both digital and physical products
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And so what I mean by this, a digital product could be, say, a course, a guide, or something like that
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And then obviously a physical product. I mean, it could be your clothing brand
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It could be, you know, your book. It could be, you know, all sorts of different things
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And the nice thing is with YouTube is you can set up kind of an automated funnel to just have your product be sold day in and day out
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So you should definitely check out our video on how to grow your your email list through YouTube but essentially if you have YouTube videos where you either directly mentioning your product that you selling or you getting someone to sign up for your email list then you making the pitch for that But
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basically every day your YouTube videos are being shown to people. And then some percent of them
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are either signing up for your email list or just going directly and making a purchase. So, for example
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in Spanish, we have a whole bunch of courses for YouTube, Instagram, Canva, you know, how to grow your
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sales and a bunch of other stuff that at some point will develop in English as well
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So, you know, we have those set up to just essentially sell on autopilot
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Or if you think of someone like teaching men's fashion where he has his own clothing line
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Some of his videos, or at least in most of his videos, it's just in the description. He has a link to it
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Or in other videos, he's actually mentioning it in the video and driving traffic to his clothing brand
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The nice thing with products like this is you can actually make the purchase online is you can
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just set up the whole sales process to run on autopilot. So you have views on YouTube and some percent of those people
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are making purchase. Obviously, a bunch of time goes into the example I gave of creating a clothing
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line or for us creating a course. But for example, you could probably create some type of course
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or digital product for your audience maybe in a couple of weeks. Then you just need to think about
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how to create the funnel to drive sales from YouTube to making online purchases. The eighth way
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to make money from YouTube is by selling services or maybe you have some type of existing business
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So this is a little bit different than the last example where not everything is like automated and selling online
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Maybe you want someone to show up at your physical location or you want to have a conversation with them
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So a couple examples could be, you know, maybe you're a personal trainer, you are a nutritionist, you are a real estate agent
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I'll give you a couple of examples in a minute. But, you know, take the example of the real estate agent
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So you could create a ton of content. Say you're a real estate agent in Austin, Texas
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And you say buying a home in Austin, selling a home, first time home by, you know
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investing in real estate, moving to Austin. If you're interested, here's my real estate guide
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You know, give me your name, phone number, and email. And so every day you're getting people to sign up, give you their contact information
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and then you're following up with them either through email or through the phone, figuring
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out if they need help with real estate in your specific location. The same thing with the other types of businesses that I mentioned
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Another example of this would be, say, ad outreach. They essentially teach and coach people how to do YouTube ads
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What they'll do is they'll run ads or have YouTube content and then drive you to say a webinar or some type of video that you sign up for
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And then as opposed to trying to get you to purchase something online, they want you to
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schedule a meeting. You can essentially go online, schedule a meeting and then have a call with them and talk
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to them about, you know, their services. This is a little bit different than the last example of like everything down to the purchase online
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You know, you're essentially want to get leads or want someone to maybe show up at your physical location
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But by creating YouTube content and then driving traffic to your website, to your
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landing page or other things, you know, you're able to get people's contact information or maybe
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people just show up as your physical location. But, you know, anyways, you can use YouTube to
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sell services or promote your business online. All right, that's eight ways on how to make money
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on YouTube. If you're looking to monetize your channel through AdSense and the YouTube partner
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program, definitely check out these two videos along the side. The first one walks you through
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step by step how to monetize your channel. And the second one walks you through how to get forth
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hours of watch time so you can qualify for monetization. Hope to see you in those and future videos
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Bye-bye
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