With inflation rising, everyone is looking for different ways to earn extra money. One of the easiest and most convenient ways to do it is through social media. When you think of making money on YouTube, the first thing that comes to mind is monetising your channel through ads. While it is possible to earn money through YouTube Adsense, there are other ways to it with less than 1,000 subscribers.
1. Sell courses
Are you knowledgeable in yoga, the piano, or something unique that you are passionate about? You should consider creating a course. Courses are a fantastic way to share and sell your knowledge online. Sure, there may be an upfront investment as far as producing the content for the course is concerned, but once it is complete, you often don’t have to worry about updating it for months or even years.
Courses being offered by small YouTube channels are priced between $20-497. As far
as places to host your course, you can check out creator-friendly platforms such as:
Gumroad
Teachable
Hotmart
Kajabi
WordPress
Pros
✥ Once your course is complete, all you have to do is sell it.
✥ It allows you to make money without having to worry about customer support.
✥ It gives you the freedom to charge, according to the value of the content.
2. Sell high-ticket consulting
With the rise of online coaches and consulting programmers, creating a high-ticket coaching session is a great way to monetise your channel with less than 1,000 subscribers. Most high-ticket programmes often offer a course combined with one-on-one or group coaching. Some of the most popular niches are:
Fitness
Health
Relationships
Finances
Mental health
Addiction
You can create a high-ticket offer for almost any niche. The key is to make sure you overdeliver on value. High-ticket offers on several YouTube channels tend to go for $1,000 on the low end, all the way up to $12,500.
Pros
✥ Depending on your niche and offer, one to three sales a month could easily cover all of your expenses.
✥ In most cases, selling high-ticket is extremely profitable.
✥ You get to work with fewer clients for more money.
Cons
✥ Since people are spending lots of money to join your programme, you’ll need to have good excellent customer support.
✥ For high-ticket programmes, most sales are done over a video call, so you’ll need to sharpen your sales and objection-handling skills.
3. Sell subscriptions
Want to build something small, meaningful and cost-friendly for your viewers? Create a service and
sell it for a subscription. Some of the most common subscriptions people offer are:
Selling software
Paid communities
Products
Access to exclusive content
There are no rules as to what you can put a subscription on. As long as you can provide value, people will happily purchase from you.
Pros
✥ It allows you to build an audience you can easily upsell/crosswalk other products to.
✥ It allows you to build a predictable flow of income each month.
Cons
✥ You have to deal with people churning out each month.
✥ You have to maintain the service to keep people satisfied.