How to make money on social media
Social media usage is constantly increasing every single day. With more and more people generating significant incomes from their content, it’s about time that we revealed the secrets of how to make money from your content. Whether you have 1,000 followers or 100k, this applies to you – so take notes and execute on your ambitions. To put things into perspective, Instagram alone has over 800 million active users. That’s roughly the entire combined population of Europe & Canada. Pretty impressive!
And so with such a potentially lucrative opportunity to make money from your passion, or to expand business into new territories, it’s no surprise that many people are jumping at the opportunity to grow a social media following. In this article, we’re going to discuss different methods on how to make money with your social media content. If you’re looking for some quick cash, Patreon is one of your best options to generate a revenue. Essentially, it’s a platform that allows you to be sponsored by your fanbase in exchange for regular content being uploaded to your socials. As an example of the economics potentially coming to your account, let’s say that 500 people sponsor you $10 a month to produce music production tutorials, that’s already $5k a month being generated as a direct result of your content. Here’s a video to explain in more detail:
Next, providing value is something that is often forgotten about in the process of generating revenue. After all, if you are able to have a genuinely passionate fanbase, that makes your channel a lot more attractive for any future brand partnerships. Why? Because brands are willing to pay money for creators that have a passionate following. Let’s create a scenario in which you are a producer creating lifestyle images for your social media profiles. If you’re getting high engagement (around 10-15%), then it’s probable that lifestyle brands will approach you, or would accept a collaboration if you emailed them. It’s certainly worth noting that there are two types of partnerships when it comes to collaborations with a company: Free & Financial. In the first case, the brand will normally provide you, the creator, with free products in order to accomplish these sponsored posts. Meanwhile, the latter is often dependent on your following. The more followers, the more money. Simple!
If you’re getting regular amounts of views/impressions on your content, becoming an affiliate can be a great way to ensure another revenue stream. As an affiliate, you can promote products with personalized links, and earn a commission every single time someone clicks and purchases the product. The most common program is with Amazon – which offers a starting rate of 6% per sale. Sticking with the previous example of creating music production videos, you could potentially use affiliate links in the description for your studio equipment. After all, if 10-20 people end up making a purchase of a product costing a thousand dollars, you’d be making a reasonable income simply from people reading the description of your content. If you have a large instagram or Snapchat following, a swipe up link will be your best option of creating revenue from your account. After all, people can purchase a product whilst staying within the application.
Another way to make money from your content is buy selling photos/videos (if you have the talent to do so). This may include things like photography for a music store in your city, or providing drone footage for a location that wants some overhead shots. Whatever the reason, each opportunity can provide you with some very good financial compensation in exchange for your work. By having an attractive instagram page of your shots & photography, it can serve exceptionally well as a portfolio to show to potential clients looking for services.
Finally, being authentic is a great way to keep your followers engaged. After all, if they’re not regularly interacting with your content, there’s probably not much point in you even posting. Therefore, ensure that your captions/descriptions & content reflect your personality. Where possible, make an effort to engage with each comment so that the follower feels like a valued member of your community. Genuine influence is extremely important when it comes to generating a following on social media. If you wish to make money from your content, then ensure that you’re deploying the actions needed to achieve your ambitions.
Those are a few ways in which you can make revenue from social media. But of course, there are absolutely loads more methods to monetize your posts & content. No matter which method(s) you choose, it’s integral that you understand that it’ll take time to generate revenue, and that it will probably not happen overnight. But with talent, hard work and dedication, pretty much anything is possible.