Ways to Make Money on Social Media
Ways to Make Money on Social Media
In this age where everyone has an account on at least one social network, studies have it that the average social media user spends about two hours each day scrolling through their social media feed. With billions of users each online on different social media platforms, it has rapidly transformed into a vast marketplace and not just for making connections anymore.
Social Media can be a very lucrative business if you know how and where to channel your efforts. You don’t need millions of followers before you can convert your engagement to cash. However, with as little as one thousand followers and regularly posting updates, you can start making money with platforms like Instagram for example.
Although more followers mean more money, brands on the contrary are looking for quality over quantity as they will pay for small audiences who are really engaging with your content. You don’t have to be a celebrity before you can start earning from social media. Brands are always in the market for people with active and defined niche, following not just those with numbers sitting on the screen. No one is going to pay you if your content is being seen by just a few friends and family.
For many people out there, earning from social media contents has become their full-time jobs giving them financial stability and freedom. With dedication and persistence, you take home as much as $10,000 a year just by making organized and engaged content.
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Promoting Brands Via Sponsored Posting
This is one of the easiest, commonest and most stress-free method of making money with social media. On platforms like TikTok, Instagram, Facebook and YouTube, the craze for sponsored posting is on the high side as emerging brands who want to be heard are always looking to partner with small scale influencers to promote their brands or review their products and services.
There are also some platforms which bridge the gap between such brands and small influencers who would love to run up said sponsored content. The most popular among these includes TRIBE Influencer; This platform helps you pick from a selection of what they refer to as ‘briefs’ which will guide you on the content that a particular brand is interested in.
They accept new entries not really minding how many followers you have. Though the wider your audience, the higher your chances of getting picked by brands.
Takumi: The second platform to earn from promoting brands mainly on Instagram. To qualify for an entry, you need to have at least post and 1,000 followers for consideration. They will match you with brands related to the things you post about, including your hashtags, hence the need to find and hone your niche.
For instance, if you are normally posting about exercising, you will be easily matched with fitness brands. As an alternative, you can reach out to these brands personally especially the smaller brands who are still new in the market.
Earn from Affiliate Marketing
Affiliate marketing is very similar to brand promotion. The only difference is that your audience need to follow your links to make a purchase or complete a required action on the platform before you can earn commission.
For instance, if you are promoting a ride booking service, your followers have to click on your link, book a ride with the company before you earn a commission or if the company rewards for other actions, say signup, your referral must register on the website or app before you will be eligible for a reward.
The most popular affiliate marketing platform is Amazon Associates which give you the opportunity of earning through affiliate links for amazon products. It is most lucrative, if you are making video content especially on YouTube, TikTok and Instagram. Your followers are easily convinced to follow up and make a purchase when they see visuals of the product in question.
Signup for Partner Programs
Social media platforms like Facebook offers page monetization when you a certain number of followers and views. The same goes for YouTube channels. Twitter on the other hand has a feature that gets you paid for creating what they term as ‘Sponsored Tweet’ once you are at a thousand followers. Medium also pays its users who have a hundred followers, post regularly and are enrolled in the Medium membership program.
Sell Your Products/Services Online
If you have products, a skill or some sort of knowledge to share, you can put yourself out there and convert your social media accounts to a marketplace. The most important point is actively creating engaging content, stay up to date with trends and making your pages attractive to brands and potential partners and clients.
Keep following Dailgam Tech for more insights on trending tech content and ways to position yourself to benefit from it. If you have any questions, feel free to comment below.
