Many of us remember the fateful day in 2018 when YouTube changed their payment structure causing creators to earn slightly (and sometimes significantly less) than before. This quick switch inspired many creators to diversify their income streams so they could be back in the driver’s seat of their finances, sometimes earning more than before. Here are a few tips that we’ve learned through our own experience working with creators at VideoAmigo.
#1: Make Review Videos
Creating authentic review content on your YouTube channel is a great way to connect with brands and add value to your audience. YouTube is a video search engine first and foremost, so improving your channel’s SEO is key. Creating searchable review content that provides value to your audience allows your channel to become monetized by brand partnerships. Our newest platform, Review Marketplace, allows you to opt-in review videos you’ve already created, so brands can purchase rights to use on their website, for ads, and more.
#2: Affiliate Marketing
After creating a piece of review content or simply a vlog, many viewers will want to see the items included in the video. You’ll see many creators strategically use the description box below the video to include affiliate links to items their audience finds interesting. When someone converts to a sale, they receive a percentage of the transaction. Just like with anything online, transparency is key. Creators are often supported more when they acknowledge that these are affiliate links, and by clicking on the link, the audience can be more supportive of the channel. Never try to trick your audience, or you’ll lose fans faster than you can say, “gotcha!”
#3: Subscription Support Sites
In the spirit of transparency and asking for support, sites like Patreon and Buy Me a Coffee have grown in popularity. Creators can share additional value to the fans that choose to support them with a subscriber-only video, t-shirt, personalized note, and more. It’s best to keep the subscriber gift in line with your channel’s theme to entice the audience to support.
Want to grow your community’s visual brand while making money? Many YouTubers choose to sell merch using sites like Redbubble, Amazon Merch, Represent, or Teespring. This is a fun way to encourage fans to recognize each other on the street, share social posts of them wearing your gear, and finally – give back to the channel in a way that feels like they’re also winning.
Many YouTubers ignore this tip until later in their careers (ex. The style vlogger turned writer), but it’s best to start this early while your channel grows. Sell a downloadable e-course or a personal service that adds more dimension to your personal brand. If you have a mindfulness channel, try a course on getting into meditation and simple living. Even if you don’t have tremendous success on the first try, it’s more money in your pocket than you had to start, and that’s the key to diversifying your income stream as a YouTube creator.