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The following excerpt is from Jason R. Rich's book Ultimate Guide to YouTube for Business. Buy it now on Amazon | Barnes & Noble | iBooks | IndieBound or click here to buy it direct from us and SAVE 60% in this book if you use code MARKET2021 by 04/03/21.
While filming your YouTube videos, you can accept money and / or products from companies and highlight those products in your video in return for a paid referral. Considered a paid product placement or sponsored video, this is a smart way to make money off of your YouTube videos.
You can also pay other YouTubers and YouTube channel operators to incorporate your product placements into their videos, or to showcase or talk about your products in any way. Some YouTubers do this for free in exchange for free product samples. Others will seek financial compensation, but you will be supported by an online personality who may have a large and dedicated following.
According to Google, “Paid Product Placements are defined as content that is created specifically for a sponsor and that has that sponsor's brand, message, or product built right into the content. A typical example of paid product placement is one where a marketer Pays an affiliate to explicitly mention their product or brand in the normally editorial part of the content. "
In order to include paid product placements on your videos, you must be a reputable YouTube partner and notify YouTube when you upload this type of video. (Just enable the "Content Declaration" option in the "Advanced Settings" menu. To access it, launch the Video Manager, select the appropriate video and click the "Advanced Settings" tab.)
You are also responsible for working directly with the company that pays to sponsor your videos, set the terms of the agreement, and collect your own fees. How much you charge is negotiated directly between you and the company placing the products. Look for independent marketing and advertising agencies that specialize in working with YouTubers and corporations to make product placements and video sponsorship easier.
Related: 10 Laws of Social Media Marketing
More options for generating income related to your videos
Many small businesses can also generate additional income by designing and selling t-shirts, hoodies, hats, bracelets, posters, mouse pads, mugs, digital downloads, and other merchandise with your name, YouTube channel name, likeness, and / or logo . This business model works well when you are building a large and dedicated following through your YouTube channel.
You can create and sell goods yourself or through a third-party company that handles the sale of goods for YouTube channel operators. Many companies let you design, promote, and sell custom products that the company then makes and ship ships to your customers. So you have no upfront or storage costs. In return, the company you hire to handle your goods makes up a percentage of sales.
Depending on what types of goods you want to sell, some of the companies you might work with include:
You can find a more complete list of YouTube approved merchandise manufacturers and drop ship companies on this Google page.
Related: 12 Social Media Mistakes Entrepreneurs Make
Focus on your goals
Before committing to showing other companies' ads related to your videos and on your YouTube channel page, you should carefully consider your goals for using YouTube and creating videos, and determine whether to display ads is really beneficial to your overall goals. Also, make sure you're not making a lot of money unless a significant number of viewers are watching your videos (and their associated ads).
Google has created detailed guides for its YouTube partners to help them make the best videos possible and use the tools available to them to promote them and build audiences. Read the "Make Money With YouTube" section of the YouTube Creator Academy here.
Another way to generate revenue from your YouTube channel is to interact with already successful content creators. For example, AKT Enterprises is a convention producer that sponsors playlist live events that gather top YouTubers and content creators. In the United States, these three-day gatherings typically take place year-round in Los Angeles, Washington, DC, and Orlando. Please visit the PlayList Live website for more information.
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