Social media made it possible for everyone to make money from home. Previously, people from the age group between 18 – 50 were earning money either through traditional jobs or doing business. With social media, age has become just a number. Talented young kids to aged people make thousands of dollars every month. If you wish to join their club, here is the guide for you on how to make money on social media both for beginner and advanced.
Social Media – How it has become ‘The Creators’ Hub:
Back in the early 2000s, we used social media like Orkut for the sole purpose of connecting with friends and family.
As the years passed, social media users were tired of connecting with the same friends and families. That’s when social media had to introduce new features to keep things interesting.
Facebook completely transformed social media, making older platforms obsolete. Their platform made it possible to connect close ones and also explore the world.
Unlike Facebook, Twitter was purely based on followers made it the pioneer platform for influencers.
With Instagram, the purpose of social media has been restructured from ‘connect with friends and family’ to ‘connect with the world’.
People who used social media to share personal content and messaging has started creating content to reach a wider audience. Potential content creators were not only able to attract followers but also earn money on social media.
Now the social media has become ‘The Creators’ hub where a significant number of users use social media to showcase their skills, educate, entertain, at the same time generate income.
How to Make Money on Social Media:
Now you know how social media has evolved over the time. Let’s focus on how to focus on social media to make money from scratch.
Also, let us see what are the best platforms for each method to earn from social media.
1. Become an Influencer:
Social media itself has a greater influence on people. Most of the users get addicted to different platforms, which makes them keep on scrolling the content throughout the day.
If you can influence a tiny bit of these social media users, you can make money just like that.
Influencers are the part of content creators who have the ability to influence the people’s view of brands or make them purchase the products.
When we watch the established creator’s content who recommends some brand product, we subconsciously build a positive image over the brand and decide based on that. This is called the influence.
For example, I wanted to purchase a processor and I am in a dilemma on whether to choose Intel or AMD. I go to watch YouTube review video or read blogs to see reviews of experts. No matter how techy I am, the experts’ review is going to influence my decision even if I had a different mindset before.
While a few will go purely based on their research and instinct, most make a decision based on the influencer’s review.
What I am trying to tell you is if you can become an influencer, you will get the power to influence people, which inturn attract brands to collaborate with you to build their business. And yes, they will pay you money for partnering with them.
If you’re interested in becoming a social media influencer, I’ve written a detailed article on how to become an influencer to make money.
Best Platforms – Instagram, YouTube, TikTok.
2. Affiliate Marketing on Social Media:
While only bloggers used to be affiliate marketers before, social media platforms have become go to space to earn money with affiliate marketing for free.
Talking about free, to host a blog we need to spend money on a good hosting, domain, and even if we do the SEO ourselves, it requires a budget. With Google’s strict ranking policies, it makes hard for new affiliate marketers to make a first affiliate sale.
In contrast, social media platforms are free and its algorithm makes it easier to reach a wider audience base. All we need is to create unique content that’s entertaining and provide value to the viewers.
Coming back to affiliate marketing, it’s an ecosystem where the advertiser and affiliate mutually benefit each other.
Advertiser pay affiliates to promote their products and services. This will improve their branding and generate more sales.
On the other side, the affiliates earn commission for each sale generated using their unique affiliate link or code.
If you wish to become a part of this ecosystem to make money on social media, create a follower base on Instagram or Pinterest or YouTube or whichever platform relevant to your target. You can even target audience on multiple platforms at the same time.
Setup an affiliate account on the best affiliate networks, choose offers, generate your unique affiliate link. Create content in such a way it can influence people to buy the products.
Best platforms – YouTube, Facebook, Instagram, Pinterest, TikTok, Twitter.
3. Sell Products on Social Media:
While in affiliate marketing you help selling products of other brands, you can sell your own products or services and get full profit.
The best example would be selling various products like clothes, accessories, software, providing services such as online training, online teaching, etc.
So, how to set up an online shop?
With Instagram as an example, create a business account and start creating content posting in regular intervals.
If your content is engaging, Instagram will automatically help you grow the follower base.
With regular content, start marketing your products or services.
The primary reason people don’t buy on social media is a lack of trust. Try to answer all the questions that make customers hesitate to order your product.
- What if they don’t receive the product?
- What if the product is fake?
- What payments do you accept?
- Can they return the product if it is damaged?
- With online services, what if the service provided is up to the mark?
Your content must reflect expertise to stop people from asking all these questions. Regularly post testimonial videos and try to get comments from old customers.
It’s going to take some time to make the first sale on social media. But once you create a sturdy base, your social media business will grow exponential.
Best Platforms – YouTube, Instagram, Facebook, TikTok, Twitter, Pinterest, WhatsApp.
4. Social Media Marketing:
You can make money on social media by assisting clients with SMM.
It’s the marketing technique to drive traffic to the businesses from social media platforms.
Social media marketing has 2 different medium: one is driving organic social media traffic, and the other is paid social media traffic.
Managing social media account and posting content regularly without help of ads is organic social media marketing.
Paid social media marketing is where we run ad campaigns to drive traffic to the website or generating leads and selling products directly on social media.
If you would like to become a social media marketer, learn how to create social media ads to grow revenue of the clients. The more ROI you can generate, the more commission you can charge.
It’s all about the conversion rate. The ad quality is measured based on the conversion. If you can prove that your strategies and generate conversions, you will make thousands of dollars with the comfort of working from home.
If you’re new to social media marketing, learn the skill by subscribing to online courses or watch videos on YouTube. Once you’re ready to get started, create a profile on freelance sites such as Fiverr or Upwork.
5. Become a Social Media Manager:
While social media marketing is only handling the social media campaigns to drive traffic, social media manager is the position where you will have to manage social media accounts of the company or an individual across various social media platforms and create strategies to improve online visibility and grow business with help of social media.
Sometime, the social media manager will lead the social media marketers or get third party SMM services based on the complexity of the job.
This social media job is definitely not for the beginners. It requires a lot of experience.
6. Monetize Social Media Accounts:
Depending on the social media platform, you can enable monetization to generate revenue with ads.
In YouTube, the channels with at least 1000 subscribers and 4000 watch hours complying with their policies can enable monetization to make money with skippable and non-skippable ads.
With Instagram as an example, they will enable the monetization option for the users with more followers and engagement. They make money with the revenue generated by the ads.
Besides ad revenue, creators with a good number follower base are given the option to earn with badges and subscriptions.
As you grow on social media, you’ll have multiple options to make money on social media.
Best Platforms – YouTube, Instagram.
7. Earn Money by Following and Interacting on Social Media Posts:
One way how social media platforms analyse the video quality is by looking at the engagement on the posts.
For example, Instagram is likely to promote the reels that have more likes, comments, and time spent by users.
While high-quality posts usually can generate engagement organically, this is not the case for most of the content.
So, creators who look forward to growing their social media accounts faster use third party services to generate likes, comments, and shares.
While this is against their policies and good practices, creators follow such black hat techniques like they do on SEO to manipulate the rankings on search.
You can make use of this opportunity to earn money on social media. In fact, unlike other ways listed above, this is the easiest way to make money using mobile phone on social media.
Unlike paid to click job, instead of viewing websites, you will be paid for liking others’ posts, subscribing to channels, and following accounts.
The pay is going to be very low, but still this is one way to make money using social media. Learn more about how to earn money on Facebook giving likes.
Similar Post – How to make money on Twitter.
Last Words on Making Money with Social Media:
Hope you got an idea on how to make money on social media. To make real money it takes time, effort, and creativity.
Working hard and marketing smart will help you reach heights on social media.
People who were nothing before make millions on YouTube and other social media platforms as influencers. Never hesitate, start today, keep on improving.