Since social media has become an inseparable part of our lives, we might use the opportunities that it offers us to generate some revenue.
Two words pop up in mind when it comes to social media and those are “promotion“ and “content“. It all comes down to creating great content, gaining followers and promoting a product or service.
Let’s take a look at the several different products and services that you can promote and eventually earn some money from.
Participate in an affiliate marketing program
Affiliate marketing is selling someone else’s products and services. In this way, you earn money whenever someone:
1. Buys the product via your profile (CPS – cost per sale)
2. Goes to a certain e-commerce website via your profile (CPC – cost per click)
3. Leaves some kind of information (i.e e-mail) on the commerce website via your profile (CPL – cost per lead)
The affiliate marketing model that you adopt will determine which one of the three aspects will be incorporated.
One of the most popular affiliate marketing programs is introduced by Amazon. However, there are thousands of other businesses that you can contact in order to sell their product or service.
Promote directly on your page or profile
A simpler way of the aforementioned affiliate marketing is to directly get in touch with other businesses, profiles or pages that want to promote themselves and receive money for promoting them.
This is very similar to the influencer marketing approach which will be discussed below, except for the fact that you do not have to show up yourself.
Become an Influencer
Influencers are people who have a huge number of followers on social media profiles. They are often reached by marketers from various businesses in order to promote their products.
Let’s say that you are a successful cook and you often post videos of preparing various types of food. If you are popular, you can get contacted by businesses in the same or similar niche. For example, a company that sells spices might approach you to promote their spices by making videos of you using them in your food preparation.
In order to become an influencer, you first have to determine your positive points or at what you are the best. Once you have figured it out, you should try your best to promote your work on social media. Promotion of your work may include instructional videos, advice, communication with people in the same niche, and regular updates.
Instagram is a very attractive platform for this type of promotion. Some of the Instagram influencers are really good at what they do.
Create monetized YouTube videos
You’ll agree that YouTube has become crowded with advertisements that are played between videos or even during watching a video. Well, those videos which are combined with ads are called monetized videos. This means that whenever someone watches the ad before or during the video, the video owner gets a small percent of the money.
Well, one of the ways to earn money is to make YouTube videos and promote them on social media.
However, the practical aspect that allows you to know a bit about video production and to come up with original ideas regularly. It is the idea that matters the most, as many of the famous YouTube stars nowadays have started with just themselves and a webcam.
You can even combine the monetized YouTube videos with influencer’s approach and get the most out of it.
Sell your texts
Selling content is similar to the “monetized video” approach. The goal is to write high-quality content and increase readership, thus being able to generate income from it. This could be done in several ways as:
1. Putting banners and ads on your blog/website
If you share your blogs and articles on social media, you are more likely to gain followers and increase the number of readers whenever the content is published. When you put banners and ads on the page where people read your texts, you are likely to earn more when someone looks or clicks on the ad – much like YouTube.
2. Selling an e-book
If you have a great number of readers, you can even introduce e-book that people will be eager to pay in order to read it. This approach does not need the concept of having your own website you can even write your blogs directly to social media. However, the best approach would be to combine these two. If you have a knack for writing and know how to engage readers, you will have a good start.
Sell yourself better
Sometimes you just need social media in order to sell yourself better and find future employment via social media. Showcasing your skills may be reserved for media such as Facebook and Instagram. However, if you truly want to sell yourself you need to create and actively manage the social medium (SM) platform called LinkedIn. Via this SM, you will be able to present your professional skills and knowledge in the form of an online resume.
Sell your profiles and pages
One of the simplest ways to earn money is to simply sell your page or profile to the potential buyer. People who want to buy pages and profiles are usually those who want to use their popularity in order to promote something.
However, this will not give you any constant income, once it is sold the only thing you can do is to start another page or profile and work on it to be popular.
This was a short overview of the most popular ways to earn income via social media. Although they sound simple in theory, each of these requires a lot of knowledge and dedication. Each system has its own rules which, followed in detail, might bring you a solid monthly passive or residual income. You need to ask yourself which of these suits you the best and start exploring the potential options.