Do you have lots of social media followers? Want to learn how to turn those followers into dollars? Right now, there are people making a living on social media selling nothing. We’ve all seen those profiles of seemingly regular people with tons of followers.
It always seems as if they’re traveling or doing something fun. But what exactly do they do to fund this fairytale lifestyle? They are called social influencers. There are more money-making opportunities on social media than you might realize. Social media, in fact, can be quite lucrative.
Many experts say that social media is for connecting with people, and not for selling, but at some point, you're going to want to leverage the connections you create.
If you've built up enough trust with your followers, they'll be more inclined to check out your recommendations and the links you share. There are many people actively making money from their social media accounts. The rise of YouTube business moguls and Instagram influencers bear testament to that. By the end of this article, you’ll have a viable business idea that you can monetize using your social media channels.
Let’s get started.
Pick a platform
The first thing you need to do is decide which platform you’re going to prioritize the most. We have so many social media platforms currently, here are some:
Ultimately, you’ll want to have profiles set up on as many social networks as possible, but one needs to be your bread and butter. Numerous researches have cited that nearly all social influencers work on Instagram. Looks at the features of each platform and choose one as your top priority.
Your other social profiles should be used to enhance the image of your personal brand and ultimately expand your reach. But you can use Facebook and Twitter to try to get more followers on Instagram.
Decide what you want
Now that you have a platform ready, I have to ask,
What do you want from all of this?
What is your purpose?
It could be money. It could be freedom. You decide.
Come up with a very visceral response to these questions and put it down on paper. When business gets tough (and it will), you can go back to your purpose for an extra.
The reason why you have to do this is to ensure that you can achieve something that is concrete and measurable. With all that said and done, now that you know what you’re working toward and why you’re doing it, let’s get into the action steps.
Affiliate marketing is a gold mine if you are looking to earn on social media platforms. No matter what industry you're in, you can find great products to promote on ClickBank.
And if that doesn't quite jibe with you, you can also become an Amazon Associate, promote products of your choosing and earn commissions on them -- Amazon has no shortage of products.
Other companies that have affiliate programs that you can choose from include:
Note that these networks will have their criteria that you have to meet to join. Again, instead of spamming links on any social media platforms and hoping for the best, keep in mind that the most honest and effective way of promoting affiliate products is through reviews.
Also make sure to disclose your affiliate relationships. This is a legal requirement in most cases, but it's also "best practice." Your readers or viewers will appreciate your honesty.
There are many opportunities for you to share sponsored posts that promote the products and services of other businesses. This is a very direct way of earning money from social media.
It's important to mix things up. It's wise to take the time to craft a proper social media posting schedule, to make sure you're adding value to your followers while promoting products.
Calls to action should definitely be a part of your social media strategy, but every post can't be a call to action.
Join the YouTube Partner Program
Building a popular YouTube channel can be a lot of work. But if you already have a following, or you're determined to build your audience, joining the YouTube Partner Program to make money on advertising might be a path worth exploring.
There are prominent YouTube content creators who have made substantial amounts of money with this program, but they are the exception rather than the rule. It would take a lot of time, strategy and sheer luck to make money on YouTube.
However, this is a good thing to keep in mind with advertising in general. Unless you're already getting a lot of views and clicks, you're not going to make a lot of money on them.
This is another method of promoting other people’s products. It’s very common on blogs and networks like Instagram.
Typically, you’ll earn a flat fee for publishing a post about a particular product. Brands that pay for sponsored posts usually want to maximize their reach. It means you’ll need a sizeable following.
How do you land these posts? You can reach out to brands directly if you have enough leverage. Alternatively, you can use a network that connects brands with social media influencers. IZEA is an attractive option.
Information products have an enormous market right now. What are some examples of info products?
Don’t you need a website to host these digital products? Not necessarily. You can set up sales funnels without a website. All you need are landing pages and an email management system.
There are also platforms that host your online courses for you. Thinkific, Teachable, and Udemy are excellent options.
Do you have a skill that you do exceptionally well? I’ve got news for you. There’s someone out there willing to pay you for it. Create a few service packages based on your skill and market it on your social media networks.
Want some ideas?
These are just some of the many ways you can make money with social media; there are plenty of other money-making websites for you to explore.
It's important to remember that making money on social media isn't necessarily easy. If you have an entrepreneurial spirit and are willing to work hard, test and experiment, your chances at success will be far greater than the chances of those who just want to "give it a try" to see what happens.