The value and use of social media cannot be denied. Over a period of time, it has offered some really great features to its users. From gaining followers, making your content popular and giving you the options to monetize through it. The totality of “Social Media”, includes platforms such as Facebook, Twitter, Instagram, Linkedin, YouTube and Snapchat.
As an influencer, you can use various marketing tools to gain attention, organic traffic for your business, and make money. However, patience, professionalism and consistency is the key required for this. If used right, social media can prove to be quite lucrative for most of us.
Here are the top 5 ways to make money on Social Media, let’s get started!
If you have a fan following of 5k or more then, you can actually use it to promote brands and even give paid shoutouts to them. Brand promotion or personal branding, all works here. And guess what you are not limited to do so from a single platform. You can use all your social media accounts (must have a fair number of fan following) and give shoutouts to brands and even individuals. Just make sure to keep some rules and standards for shoutouts to keep up with the quality of content.
Gone are the days when you would see most of the endorsements on television. Now you can endorse brands, products and services through your very own social media profiles. “Money doesn’t grow on trees”, right? Well, they are going to grow on your social media profiles now :). Your good days are about to start if you have a huge fan following, endorse products and earn. Food blogger? Just endorse a new item on the menu of a newly opened restaurant and get paid for it. You might also get to eat free food on the top! In reality, endorsements have progressed towards becoming right around a staple piece of a cutting edge sponsorship game plan to require a specific number of supported ‘tweets’ or “posts” from potential influencers. Endorsements are a win-win situation both ways.
- Sponsor Products or Services:
This is, in my personal opinion is the easiest way to earn money off social media. You can make use of your list of followers on Instagram and Facebook by allowing the companies to sell their products or services on your social media accounts. Paid promotions and selling of products of brands through your profile can make you earn a fair amount of money. However, the chances of earning money through this method is high only if you have followers in six figures, and comparatively rather low if you have less than a few thousand followers on your social media accounts. Examples are obvious, recently Danish Ali done a paid promotion of the product of Kurkure Pakistan, “Kurkure Terha” through his video. That video has received over 1.1 Million views so far with 4.3k shares. Guess how much he would have earned from this single post?
Collaborating with brands is yet another great form of earning money on social media. But you already knew this, right? So, what’s the catch here? What you might not know is that you don’t need thousands or millions of followers to make the right pitch. Yes, you read it right, if you are influencer and if you have loyal followers with whom you interact regularly then you are good to go. Brands will only be willing to pay for the right type of influence coupled with a unique deal. Having a large number of followers on any of the social media account does not demonstrate “influence”. You need to offer some kind of value that you can provide to the brand in exchange of a collaboration, doesn’t matter if you have less than 1000 followers. Instead of offering a simple sponsored post on Instagram or Facebook, you can offer a blog post review or even a short video as a package. Before pitching brands for collaborations make sure to create an aesthetically appealing media kit. It will be the true representation of the value you are going to provide.
Trainings work for all, doesn’t matter if you are a photographer, choreographer, web developer or even a graphic designer. You can earn money by giving trainings online on your social media accounts. You can use Facebook for the trainings but YouTube is your best shot, and both should redirect the viewers to your website. For-example, initially you can offer a free beginner course on “Adobe Photoshop” then you can put price tags on the following (advanced videos). Viewers who are already learning through your platform wouldn’t hesitate to spend money to unlock the advanced videos. However, it is not as easy as it may seem. You need to make sure that you are providing high-quality learning videos and content. If you are not, then you won’t be able to convert these viewers into potential customers. Would you pay for something that is full of fluff and spam content? I believe, you won’t. Make your trainings insightful and actually useful for the viewers, offer them something new in each of your training videos.
There are so many other options that you can choose to earn money off social media. However, it is important to remember that earning from social media platform isn’t a piece of cake, you would have to work smarter and harder to get going with your chosen tactic. An entrepreneurial spirit is what you would need! It takes time, patience and intelligent strategy to build a following. A good advice would be to play on your unique strengths instead of copy-catting other influencers.