Since the invention of the internet, social media has been one of the greatest innovations. Social media is a source of entertainment, news, information, creating, and maintain connections. As of 2019, 2.95 billion people were using social media, a number is projected to rise to 3.4billion people by 2023. In this article, we’ll show what to do in order to make money from social media
If you look at individual networks like YouTube statistics, there are 1.68 billion YouTube users worldwide. Another interesting fact is that 2 billion people log into the platform monthly. YouTube is rich in a content ranging from movies, short scripts, educational content, live streaming services, and even documentaries.
Considering the above figures related to traffic, we know that social media presents massive opportunities to marketers, performing artists, leaders, and anyone interested in reaching out to people. Social media is an active marketplace where people earn their living.
How To Make Money From Social Media?
How can you use it to convert the traffic into real currency? Let’s look at six ways in which users make money from it.
1 Selling Products and Services
Businesspeople can use Social media to sell merchandise or services. Using personal profiles, business profiles, and social media groups businesses can showcase their products and in turn get buying clients. Below are some pointers or features of social media sites that can help generate sales.
- Customers use social media to search for products- With many brands already listed in social media, customers are tuned to have products in social media. Finally, give product reviews- Online reviews are a seal of approval from customers. Customers either like, rate, or leave positive comments for great service or satisfying products.
- Inbuilt customer profiling tools- Social media sites help businesses with insights to help improve the way of reaching customers. Getting your businesses in these sites can help you gain an edge in your business.
- Listing your business or products on social media is one step closer to getting your next sale. Social media can prove to be a valuable sales funnel to your business.
Pro-Tip: E-books- If you are an expert in a certain area, for instance, social media management you could create an information booklet on the subject. E-books can help you create passive income with little investment.
2 Joining Affiliate Programs and Promoting them in Social Media
You can turn your hobby, interest, activism, or passion into a profitable business. Affiliate marketing programs like Amazon, Click Bank, eBay, and others invite people with sizeable social media following to market products within their network.
Social media users can market products of their choice to their audience and earn a commission in return. This can be complemented by other internet assets such as websites and blogs.
3 Monetizing YouTube Channel
Unlike other social media platforms, YouTube users can earn directly from the site. Musicians, for instance, found a way of making money without booking gigs and paying related planning fees. With over 5 billion YouTube videos watched daily, content creators with huge subscribers and viewership earn a lot.
Below are some top earners and make money using social media. on the channel:
- Ryan Kaji- Ryan, six years old, who owns the ToysReview YouTube channel made $26 million dollars in 2019. Ryan has amassed a total of 23 million subscribers who enjoy his unique and intriguing way of trying out toys.
- Jefree Star- Jefree star an American entrepreneur made $17.5million last year. Her videos are about cosmetic products, music, and make-up tips.
YouTube is used by millions of people to generate huge revenues for them. As a user, you can use your content to generate views and subscribers. The site uses the number of views and subscribers to distribute earnings to content creators.
4 Influencer Marketing
Brands or companies leverage a person’s authority or following to build awareness and acquire trust. Anyone with their own network or an audience can be targeted for this kind of marketing. The most common type of influencers includes sports personalities, thought leaders, industry experts, and musicians, among others.
Brands evaluate the demographics of influencers to determine whether they fit into their profile. In addition, the influencers are paid for making the brands popular among the audience. So, a great method to make money using social media.
Social media users with valuable content and big audiences are ripe for influencer marketing. Brands and marketing agencies are on the lookout for influencers as marketing methods shift.
5 Social Media Management
This is another great way in which social media can help you make a living. Celebrities, sports personalities, business people, and even political leaders with huge following require assistance in handling their pages.
The need to maintain the brand by giving out relevant information such as new products, intended moves, and special messages to fans. Some of the roles in social media management include: –
- Content creation and strategy- This is based on the overall vision of the page. The strategy forms the basis of posts such as articles, videos, images, and info graphs that require to be created.
- Page Operation- This involves posting, checking on feedback from customers, and re-designing new posts based on feedback and trending items.
- Page Analytics- So, to measure the performance and impact of social media activity, it’s important to look keenly at certain metrics. Social media managers can use channel analytical reports to gauge the effectiveness of their work.
Social media management is a career you can pursue with self-employment prospects like handling small business social media sites. It also offers an opportunity to expand your marketable skills in the everchanging marketplace. As a result, a great method to make money using social media.
6 Marketing your Skills
If you are currently unemployed, or in search of a new opportunity, you don’t have to re-invent the wheel to make money. Letting the world know about your qualification, experience and your area of expertise can help you land that coveted job.
Professional social media sites such as Twitter and LinkedIn are great examples to start with. You can use some of these strategies to get focus.
- Firstly, outreaching through hashtags- Hashtags help drive the conversation on social media sites. Contributing ideas in these sites can help you get focus by a hiring manager or business owner.
- Secondly, optimizing your profiles- This involves creating a professional bio, image, and indicating your areas of expertise. You could also give links to work samples.
- Finally, networking with decision-makers- Creating connections with businesspeople, hiring managers, and fellow professionals also expands your chances of success.
LinkedIn is a great site to take your job hunt or market your skills. The tradition there helps in shaping conversations around the industry, work environment, and career progression.
Parting Shot To Make Money on Social Media
As discussed above, there are several people who make hefty money using social media. There are also tons of opportunities directly or indirectly within the industry. If you don’t have the ability to create unique content, you can help manage social media channels for others.
Finally, social media is by followers, fans, and big audiences. Having a long-term strategy to grow these numbers translates into big money.