Tip #3: Affiliate marketing
Affiliate marketing has been touted as one of the best ways in which
individuals can generate income.
Traditionally, affiliate marketing was about advertising products and services
through your own marketing efforts.
That concept still holds true. However, YouTube is able to augment affiliate
marketing in such a way that channels can work in tandem with sponsor
brands.
A classic example of this approach is how-to videos which utilize products
from sponsors in order to demonstrate how something is done. This is not the
case of “This video is brought to you by...” but rather, you are demonstrating
how an action is done by using a specific product which you will present in
your video. Other examples are tutorials (similar to how-to videos),
unboxing, product reviews, or even critiques.
All of these types of videos place the center of attention on the product that is
being advertised and direct viewers’ attention toward these specific items.
Of course, this isn’t free. Affiliate members generally get a cut from product
sales conducted through their channel. So, if a viewer clicks on a link which
then leads to a purchase, that channel will receive a commission.
This type of monetization is highly dependent on solid content and may not
always generate substantial income. In some cases, the income generated may
not cover the cost of producing the video. Nevertheless, successful affiliate
marketers can clean up by generating greater visibility to a brand.