How to Make Money From Social Media
Social Media Usage is at the all time high right now in World and still growing. India just became the number one country for Facebook in the world in terms of monthly active users! You can see from this slide from 2017 Digital Yearbook by ‘We Are Social’ that the active social media users worldwide are already about to touch 3 billion users! Just imagine how big the market is out there. All you need to do is to effectively tap this market.
Remember one thing,
the primary purpose of Social Media is to build social connections but
that does not mean that you cannot use it to earn money. In fact, the
social media ads like Facebook Ads, Twitter Ads or LinkedIn Ads are
meant for leads/sales generation only. So it makes sense to not spam
your users with promotional offers.
Mixing informational posts along with
promotional posts is the right way to build audience and business
together on social media.
So, how to earn money by social media? Here are 5 ways to earn money through social media:
How To Earn On Social Media Via Your Own Products
You can also create your own products
with digital and physical. Though I would recommend to begin with
Digital products (like eBooks, courses etc.) because they are easier to
create and promote and take less amount of money in the beginning to
develop the products. For instance, you can list your eBook on Amazon
Kindle or ClickBank and then promote the link of your eBook on different
social media channels. And once the sales start rolling, you have to do
nothing but collect the payment (being a digital product, you can sell
it N number of times!).
Physical products, on the other hand,
require larger capital in the development stage and one should go for
them only once you have validated the product idea and have sufficient
capital to invest in its development. That said, physical products like
designer jewelry, crafts, and other home/living products are relatively
easier to develop and sell online (for such product categories you can
visit Etsy.com).
So, once you have decided on your product
(digital or physical), you can sell it directly on different social
media channels like Facebook, Twitter, Pinterest, Instagram etc., or you
can sell it through websites like Etsy or any other e-commerce stores
which allow such selling.
If you decided to sell directly on social
media on your own, then you will have to take care of shipping,
customer care, logistics etc., while with other e-commerce stores, they
take care of these aspects.
Earning Money On Social Media By Affiliate Marketing
Affiliate Marketing is one of the best
ways to make money online. Affiliate marketing, in a nutshell, is a way
to make money by promoting products of other companies (like Amazon.com etc.) using your unique affiliate links, which you get after signing up with them.
Apart from Amazon (which doles out 4% to
10% of commission per sale), there are many other networks
like ClickBank (for Digital Products), Rakuten, CJ Affiliate,
Booking.com (for Travel) etc., which offer lucrative affiliate
commissions.
If you are good at building social media
communities and can promote affiliate products using social media ads
(just remember to keep your ad costs less than the money you earn) then
you can earn a handsome amount of money.
Just remember that it is always a good
practice to add a disclosure about your affiliate links to your social
media audience. This builds up a trust with them. Secondly, don’t spam
your social media communities with affiliate links as this puts off the
people. Always have a healthy ratio of generic informational posts
(which are of interest to your audience) to the promotional posts (with
your affiliate links).
How To Earn Money From Social Media Using YouTube
Building a successful YouTube channel is
not a cakewalk, in fact, nothing on social media or digital media
marketing is a cakewalk anymore. It requires a lot of planning,
persistence, hard work and creativity to build a successful YouTube
channel.
Once you have at least 10,000 public
views of your channel videos, you are deemed eligible to apply for
YouTube Partner program. You can visit youtube.com/account_monetization
to check your channel’s total view count. Apart from this, your channel
should adhere to YouTube’s Partner Program Policies to get approved.
Here are the steps listed by Google to apply for YouTube Partner Program:
- Sign in to your YouTube account.
- In the top right, select your account icon > Creator Studio.
- In the left menu, select Channel > Status and features.
- Under “Monetization,” click Enable.
- Follow the on-screen steps to accept the YouTube Partner Program Terms.
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.
Earning Money On Social Media By Providing Freelance SMM Services
You can also provide freelance social
media marketing services to your potential clients. You can provide
services like social media auditing, Facebook page management, social
media content creation, social media advertisements (PPC Ads on
Facebook, Twitter, LinkedIn etc.), running social media contests etc.
You can start your freelance social media
marketing business by creating your own personal brand on social media
to attract the leads and inquiries. You can do that by writing guest
blog posts on social media marketing on popular digital marketing
related blogs. You can also create your own website or blog to create
your own brand and share your blog posts on different social media
channels to bring in traffic.
If you can create and share quality
content (which is actually helpful to your target audience) on a regular
basis, you will soon start getting inquiries from potential clients to
handle their social media marketing. And once you do a quality work, you
will start getting word-of-mouth references too.
You can also ask your friends or others
acquaintances in your professional circles for any social media relating
projects in case they are looking for someone to handle the same.
Another way to search Freelance social media marketing jobs
is via Freelance sites like Freelancer.com, Upwork.com, Guru.com,
PeoplePerHour.com etc. Just create an account on any of these sites. Add
your complete professional details and work samples and you are good to
go.
Use visual media to promote your crafts.
If you tend to create handmade crafts, art pieces, or even articles of clothing and knitting, there may be an opportunity to showcase your products on social media. Instagram and Pinterest may seem like obvious places to hit, but Facebook, Twitter and Google+ are also great channels for sharing visual media.If you have an Etsy account, you can direct your followers to check out your products there, and between the different channels, you have the potential to make a good living.
Create and promote your own information products.
If you already have a blog, and you've demonstrated your expertise on a specific subject over a period of time, there may be an opportunity to create an ebook, audio program or video course and sell it to your audience. Social media is the perfect place to promote such a product.Platforms like Gumroad, Sellfy and Amazon's KDP program make it easy for you to publish and sell your PDF, MP3 or video file at a price of your choosing -- keeping in mind that all platforms do take a cut, even if it's small.
As with anything, quality is key to creating something people not only want to read, but will pay to read. If you take extra care in creating great information, designing and promoting it well, you will definitely see more sales.