9 Ideas for Monetizing Your YouTube Channel - Rick Mulready

rick mulready

9 Ideas for Monetizing Your YouTube Channel

December 17, 2021

What’s up, my friends. I want to do something a little bit different on today’s show. In our last episode I talked with my good friend Tom Breeze about growing your YouTube channel with paid ads.

Today I want to follow up on what Tom and I talked about. I’m going to give you nine ways to monetize your YouTube channel.

You don’t need to start with all nine. You can pick and choose which ones work best for what you’re doing right now, and which ones look like the most fun.

There’s a lot of great stuff in this episode, and if you haven’t done so already, I encourage you to listen to our previous episode where Tom breaks down his proven strategy for growing your YouTube channel.

In this episode, you’ll learn:

  • How to incorporate calls to action in your videos
  • Using videos to create evergreen content
  • Partnering with companies to sponsor your YouTube channel
  • How to save a ton of time creating your funnel pages
  • Make money with affiliate links
  • Strategies for offering exclusive paid content
  • How to sell merchandise on your YouTube channel

Links & Resources Mentioned in this Episode:

Tom Breeze’s Links:


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Other Episodes You’ll Enjoy:

#134: YouTube Ads: How to Set Yourself Up for Success with Tom Breeze (Part I)

#135: YouTube Ads: Anatomy of High Converting Videos with Tom Breeze (Part II)

#556: How to Grow Your YouTube Channel with Paid Ads (and Get More Customers), with Tom Breeze


Episode Transcript

[00:00:00] Rick:
What’s up, my friends. Welcome back to the podcast. As always, super appreciate you for tuning in today and coming to hang out with me.

I wanted to do something a little bit different on today’s quick tip. If you heard Wednesday’s episode, just the last episode here on the podcast, I had my buddy Tom Breeze here on the podcast, and we talked about how to grow your YouTube channel with paid YouTube ads, and drive more customers in the process, Tom and his team..

if you’ve not yet heard that episode, it is a must-listen. Whether you already have a YouTube channel or you’re thinking about starting one, it’s a must-liestn episode. You don’t necessarily need to listen to the last episode prior to listening to today, but it will be helpful.

So, just to recap, Tom Breeze, he is the founder of Viewability, which is a YouTube ads agency. and…

The Ad Buyer’s Club. He and his team are some of the best YouTube ads people in the world. This is like Tom’s fifth time here on the podcast. The dude’s brilliant. He broke down the strategy that he and his team have been really honing and trying to work out over the past several years about how to…

really, effectively leverage YouTube ads inexpensively to grow your YouTube channel. Because if you just run ads to your YouTube channel, it can actually have a negative impact on the channel and really negatively impact the algorithm, the YouTube algorithm, and all that goes into growing your YouTube channel.

He and his team have really cracked the code on leveraging YouTube ads for a positive impact on growing your YouTube channel. So that’s what we break down, and he gives you the whole strategy in the last episode.

What I wanted to do today in today’s quick tip is a continuation of that conversation.

I’ll follow up to that conversation. I want to share with you nine ways to monetize your YouTube channel. Because as we’re growing our YouTube channel, let’s try to monetize it. The idea here is to give you nine different ways that absolutely work for monetizing your channel.

Obviously, you can just pick and choose, don’t start with all nine. Just pick and choose which ones align with you and which ones seem like the most fun. There’s a couple of them that you need minimum requirements, like ad revenue, for example.

So, YouTube ad revenue, you have to have at least a thousand subscribers to your channel…

and 4,000 hours of watch time over 12 months. Obviously, there are some minimums for some benchmarks that you need to hit in order to be able to monetize your channel through ad revenue. Once you hit those marks, cool, you can turn on the monetization, and you’re off to the races.

But that’s not the first thing.

The first thing I would do, or the first idea for you to monetize your YouTube channel is when you are creating YouTube videos and people are watching them, obviously you’re new, you’re leveraging…

like we talked about last episode, we’re leveraging YouTube ads again, very inexpensively. And Tom talked about examples where you can spend like four to $5 a day. Four to five, not 45. You can spend 45, not necessarily though four to $5 a day that can really have a great impact on growing your channel and getting more views on your videos and the idea of this strategy and why it works so well is you are attracting your ideal audience, your perfect customers.

It’s the whole quality over quantity. Right? And so as you build that relationship, With new viewers on your channel that whole know like, and trust factor, if you will, you can start to you. You have calls to action. If you will, on your videos and to drive them to a landing page, for example, to. Get them to opt in for, you know, your email is to build that relationship even further, you could, send them to you make a, make an offer of your, for your online course or your coaching program or a product or your resource or whatever it might be.

So it sounds kind of obvious, but it kind of is right. It’s to use your YouTube channel to build a relationship with your ideal people so that you can serve them at a higher level through your paid products. I am starting as I talked about on the last episode, I’ve started my YouTube channel, when this episode comes out, I am in the process of starting it and getting my first videos done.

The reason I’m doing that is because I want to create another asset in the business. In addition to this podcast here that can live on for a very long time. Right? So like we create videos now and. They can be benefiting the business 2, 3, 4, 5 years down the road. Right. And so that’s the first way to monetize your channel.

Build a relationship with your viewers, simply make offers of what you are offering. And your business. The second idea for you to monetize your channel is you can create audiences of all the people who are watching your videos. Very similarly. Like you can do on Facebook, where you can create engagement, audiences of people, watching your videos, for example, and turn around and retarget those people.

Well, all the people who are watching your YouTube videos, very similar, you can. Create audiences of those people and then remarket to those people, with YouTube ads, you can retarget to any kind of evergreen offer that you have. For example, if you have an evergreen webinar, you can send people to the evergreen webinar where you’re offering whatever it is that you’re offering a course or coaching or mastermind or whatever it might be.

So that’s the second way. So you can retarget people, all those people who are watching your videos, the third. Idea for monetizing. Your channel is through sponsorships, right? Again, this is about quality over quantity. We are attracting our ideal people to. Our channel. And so the higher, the quality people, it doesn’t have to be, you know, a huge quantity of those people in order for sponsors to want to get in front of those people.

So you could be partnering with companies. to sponsor your YouTube videos that you align with, maybe that you use, maybe that you just really like a lot, for whatever reason, they can sponsor your videos. And obviously you’re making money off of that. So that’s another idea for you. The fourth idea to monetize your channel is through affiliate income, right?

Let’s just say you do an example or you do a video about, so like we use 10 X pro.io in our business. This is where we create all of our, funnel pages. Like we literally like quick. A button on say, okay, I want to quiz funnel, whatever quiz, funnel, and click a button. And literally gives me every single page in the quiz funnel.

And I just update it for whatever I want to update it for, but it’s, everything’s already done and with templates and so forth And so we all, we also house all our training in there and it’s an affiliate center and dashboard. And I mean, it’s, it’s amazing. I started using it in 2021. So for example, I could do a video that talks about how much I like that platform.

And I could offer my affiliate link. When I’m doing that video and I could make money off of that affiliate link. I actually don’t even remember how much it is. I will give you my affiliate link here in just a second, but you know, every time somebody signs up for whatever it is that you are promoting.

You get, you get a commission and obviously some partnerships you get bigger commissions than others. If you want to check out 10 X pro, by the way, it’s Rick mulready.com forward slash 10 X pro. And yes, that is an affiliate link. I think you get. A dollar for you pay a dollar for 30 days or something like, I mean, it’s a ridiculously good offer.

And then I actually have no idea what, I don’t remember what the offer is for me from a commission standpoint, but that is an example of how you can monetize your YouTube. Okay, so affiliate revenue, then we can get to the ad revenue from YouTube ad revenue. And so again, there are a minimum requirements that you need to hit in the form of you’d at least a thousand subscribers to your channel and 4,000 hours of watch time.

Over 12 months. So once you’ve hit those minimum requirements, then you can turn on, you know, the modernization from an ad revenue standpoint. On your channel. That means you’re getting, you know, you can get a, when somebody runs an ad, on your video, like a pre-roll or mid-roll or something like that, or the little overlay at the bottom, there’s different ways that people can do it.

You get. a cut. And so you can make ad revenue from that. I know people who are doing extremely well with channels that are not huge, and they’re making a lot of money from, you know, from the ad revenue. So that’s another option that you can do for your channel. this another way, the sixth way is you can do channel membership.

With your YouTube channel. So what that means is essentially you can create a membership where people pay a monthly fee where they get like exclusive content and things that, just quote unquote, normal subscribers to your channel wouldn’t have access to. So you’re creating a membership. Right on your YouTube channel, where P where people are paying for sort of premium access or exclusive access to different things that you are offering to your, channel membership members.

So that’s another thing you can do. the seventh idea for you to monetize your YouTube channel. You can do things, things like super chat and super stickers, where people can, you know, pay you certain amount of money. And you get. certain benefits, like the stickers and stuff like that.

Well, they can pay for those types of things. This is where you start to have more fun with your channel and people can be offering us kind of like a Patrion kind of thing. but again, there’s a benefit to, it’s not like a straight up donation. There’s a benefit to people where they’re giving you money for again.

Creating the amazing content that you are doing and putting out on your YouTube channel again, another way for you to monetize it. Okay. another way an eight idea for you is through merchandise, right? I’ve never had merchandise for my business, but it’s something I’m thinking about. And you’re like t-shirts or something like that.

For maybe the art of online business, it’s something I don’t know. But anyway, you can create merchandise, you can have t-shirts and hats and whatever else you want to do. Hoodies. And you can sell that on your YouTube channel. So another way for you to, monetize. And again, don’t be mistaken that we have to have massive numbers on our channel.

This is about quality over quantity, right? Quantity really helps. But as long as it’s the right people, the ninth idea for you out of nine ideas is a YouTube premium. So what that is is that YouTube has an option of premium. So like for example, If you’re watching a video and you go into another tab or you start using another app, one benefit of YouTube premium is that, It’ll keep playing, for you rather than shut off and you get no ads and so forth, but people pay for that. And so I forget how many millions of people, are YouTube premium members, but. Another way to monetize your channel is that you get paid every time a YouTube premium member watches your videos.

And so that’s another cool way. I’m actually not sure what it like, how much you get paid, but it’s another way that you can generate money from your YouTube channel. So there’s nine different ways and I’m sure there’s other ways that if you have other ideas that I’m not hitting, I’d love to hear from you.

Leave a comment below if you’re watching this on YouTube. if you are, just listening right now, shoot me a DM on Instagram at Rick Mulready. And let me know what I may have, what I may have missed. So there are nine ideas, nine ways for you to monetize your YouTube channel.

Let me recap for you real quick. Number one. Build a relationships. As you build a relationships with your, with your viewers, with your subscribers, you start having calls to action on your videos to, you know, to join your course or, apply for your coaching program or buyer product or resource, or what have you.

The second way is to remarket those people who are viewing your video. You build an audience of those people who are watching your videos and you could turn around and retarget them with YouTube ads and send the offer a, you know, what are your, one of your evergreen offers? Maybe it’s an evergreen webinar.

For example, from the webinar you make an additional offer, meaning like, you know, join your course, your membership. Coaching or mastermind, whatever it might be. So those people are very warmed up because they’re watching your videos on your channel. Now you’re retargeting them with a. automated webinar, for example, super, super effective number three sponsorships, you can get companies to sponsor certain videos on your channel, because they get to get in front of, their perfect customers who are already watching your videos the fourth way.

Is affiliate income. Like I mentioned, you know, for us, just as an example, 10 X pro for you, it might be, you know, whatever it might be. Well, you can do a video about a product, a service, something that you use in your business, and you can offer, you know, a special. Discount or whatever it might be that you’ve, that you’ve worked out with that company and you offer your affiliate, link.

So you can get affiliate revenue. The fifth way is sort of the stereotypical thing that most people think about is ad revenue. But again, you have to have at least a thousand subscribers and 4,000 hours of watch time on your channel. Over 12 months, the sixth idea is doing those channel memberships. The seventh idea is, as you know, Facebook calls like supers, like super chat, super stickers, and people can be paying money, to you for those types of things.

The eight way is, you can sell merchandise. If you wanted to create merchandise, like hats and hoodies and t-shirts and so on. Then the final way that I just mentioned is YouTube premium. So, for all the YouTube premium members who watch your videos,

you get paid every time a YouTube premium member watches your videos.

So, there you have it. There’s nine different ways to monetize your YouTube channel. Again, I’m sure there’s more than that. These are the things that we are going to be looking at as we grow our YouTube channel.

I know that a lot of our Accelerator coaching members are leveraging in their YouTube channels, because a lot of them have huge Channels. Speaking of which, for Accelerator, this is our one-on-one group coaching and mastermind experience all wrapped up into one awesome program.

Accelerator is for established online course creators, and/or online coaches. When I say established, I mean, you’re making at least a $100K a year in revenue from your online business, and you’re looking to take things to the next level.

But, you’re likely feeling overwhelmed. You’re doing all the things in your business. You’re working way too much, and you’re not really sure what next steps to be taking to get your business to the next level.

Well, what we help you do in Accelerator is to overcome those things, and get you past those things.

We help you create more profit, more impact, with less hustle. Because achieving all of these things is absolutely possible through less hustle and working fewer hours every single week.

So, if you are hearing this right now, you’re like, “Yes, I need this! Finally, there’s a program like this!” I want to invite you to apply. It’s application only. Go to RickMulready.com/Accelerator.

Alright, my friends. Thank you, as always, for tuning in today. Super appreciate you.

Until next time, be well. I’ll talk to you soon.

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