With a staggering number of 2.22 billion social media users on average, it is safe to say that social media has become a huge part of business. Social media platforms are not only being used by customers but also by businesses to make money.
The Internet has about 3.419 Billion users globally; 65% of those use social media. By the year 2017, Social Network Ad spending will reach 41 billion dollars worldwide. While this is a big opportunity for businesses to promote themselves, this is also an opportunity for social media enthusiasts to earn handsomely from such platforms.
Before we move ahead, it is important to know that social media is not necessarily a substitute to your day job or current line of work. Before you decide to divert your energies towards earning through social media alone, you should remember that the risk factor is high. But if you plan it right and follow the tips in this guide, we assure you that a certain income is guaranteed. In this guide, we’ll be giving you a detailed overview of major social media platforms, how they can be used to profit, and who’s using them right.
What Social Media Platform to Choose?
These days, social media has become an essential tool for marketing virtually any type of product. Several businesses, small or big, often end up exceeding their sales goals because they have embraced the power of social media.
The modern day customer is always connected to their favourite social media account through a variety of devices including smartphones, tablets and ultrabooks. Social media has provided brands the opportunity to seamlessly interact with customers, who will often check a commercial establishments credibility through their active social media accounts.
Although social media platforms can help you make a huge amount of money, deciding which one lives up best to the task is going to take some research and knowhow. It’s also important to be careful and be aware of scams like “Paid Social Media Jobs,” which make unwarranted promises of making you lots of money in very little time. Without further or due, lets have a look at some of the top social media platforms today and how they are being used to both create and leverage new businesses to the top.
YouTube is one of the largest search engine networks and there are several ways to earn big money through it. There has been some debate on whether YouTube is a social media platform or not, but it has the functionality of profiles, reach audiences and interaction with other users.
Let’s look at some ways of making money through this social media platform:
You can use YouTube to divert traffic to your landing pages. Google’s Penguin, Hummingbird and Panda updates decreased search engine index ratings of thousands of websites. By using Creator Playbook you can repurpose older content into videos or create new videos altogether.
Promote Your Products
You can make a new product and promote it on YouTube. Whether it’s an app, artwork, eBooks or music, you can make a video with a link to the landing page in the description and earn handsomely. What’s important is that you’re consistently working on creating new content for your channel and subscribers.
Monetize Your Videos
You can monetize your videos through the YouTube Partner Program. You can do this after you have uploaded a certain number of videos. Get your share after enabling your channel for monetization.
Who’s Doing it Right
You can always create a Web TV series, like PewDiePie which has a mind-blowing 46 million subscribers. YouTube is a place where the popularity of channels doesn’t necessarily depend on your budget, but the sheer quality of the content. Whether it’s about handmade animations or origami, the possibilities are limitless. Just don’t forget about using the description part cleverly for informing users of buying or selling information.
From 2015 to 2016, advertisers on Facebook have grown by 50%. Almost 75% brands promote their posts through Facebook. Advertisers around the globe have incorporated Facebook in their front-line business strategies. Here’s how this social media giant can help you make plenty of money:
Advertise on Your Page
If you have accumulated a nice number of fans, you can start to promote on your page for a nice sum of money. Many successful influentials are doing so. They charge a hefty sum for mentions or posting a video.
You can divert traffic from your Facebook profile to your website. A wise thing to do is to use the tab feature on the page. Facebook now allows you to add a Shop button directly to let people buy through Facebook. In addition to this, you can make money by increasing sales. For example, if you run a restaurant you can add the menu online and make people order more.
Who’s Doing It Right
Have a look at Starbucks; they have a very successful Facebook page and do just about everything right. They have an International tab which will lead you to a different local page for native non-English speakers. We regularly see them posting vibrant content, overseeing contests for seasonal products, posting job openings and interacting with users all the time. They have over 36 million followers on their main Facebook page.
There are over 300 million monthly active users on Twitter to this day. The exponential growth of this social media platform is a testament to how people love using it. This brings forth great business and earning opportunities. Let’s have a look into how you can utilize it properly:
Sell Your Tweets
One of the easiest ways to earn from Twitter is by selling your tweets. Yes, it’s just as simple as it sounds. There are businesses who are looking for people to tweet about their product or services. There is a site called SponsorTweet that offers this service. Go to this website and find sponsors that you feel comfortable with. You can agree on an amount and start tweeting about them. We do suggest that you keep your Twitter account professional. If you post any controversial photos or abusive language, for example, the business can choose to stop working with you, and they most likely will.
Get Paid by the Clicks
There are various third party advertising platforms that can pay you good money for tweeting. Twittad lets you set up a cost-per-click on the advertisements that are tweeted through your account. Once the bidder approves, you’re all set. Revtwt works in a similar way. It’s pay per-click is decided by how many followers you have. The more famous you are, the better your reputation fares, and that means you’re eligible for higher-paying marketing campaigns.
Who’s Doing it Right
Kim Kardashian immediately comes to mind. Her single tweet can cost brands around $20,000. But it isn’t just because the woman is famous; the conversion rate and exposure companies get through a single tweet by her, is ten folds the amount they pay her. Further down, actor Frankie Muniz gets paid $252 for a single tweet. The more famous you become, the more money you can get for your tweets.
Instagram is another social media platform that’s filled with financial opportunities if you know what you’re doing. It has over 300 million active monthly users, sees 70 million photos posted per day and is the most favourite social media platform among teenagers. Let’s have a look at what you can do with your account to make cash:
Market for Others
We’ll get into affiliate marketing in detail right at the end of this article, but we can’t help but also mention it under Instagram. It happens to be the most affiliate marketing-friendly social media platform available today.
You can get paid per sale and while this form of marketing is done on all social media platforms, it works better with Instagram, because it’s based solely on highly filtered, vibrant and attractive pictures.
People communicate with pictures on instagram so you can post for someone, promote their product and help them bump up sales. Companies like Shareasale, Stylinity and Ebates can offer you good money for promoting products or services. Each site does things differently, so if you aren’t comfortable with any company’s unique requirements and conditions, you can switch over to the next one.
Sell Your Photos
Photographers, both professionals and casuals, can put their photography skills to use and sell their work on Instagram. Yep, you read that right. If you are good at taking photos, you can sell your shots to agencies and other people willing to pay for them. In order to keep attracting more people to hire your services, you can add a watermark to better market yourself.
Sites like Community Foap and Twenty20 allow you to put your photos up for sale. Meanwhile, keep marketing yourself and add relevant hashtags that attract more buyers.
Sell Your Account
So you’ve been using Instagram for ages now and you’ve a good following, but for some reason, you want to close your account and concentrate more on your education or work. In this case, it’s best to cash your account out. That’s right; sites like Fame swap and Viral accounts can help you sell your Instagram account to the highest bidder.
Who’s Doing it Right
Huda Kattan, a Hollywood-trained beauty consultant, has over 14.3 million Instagram followers and she can be considered a success story when it comes to making money through Instagram. She created the Huda Beauty blog which ended being #1 in the Middle East and ranked #20 among beauty blogs worldwide. Her Youtube channel has over 1.3 million subscribers and her videos, which she shares on her Instagram account too, have gotten thousands of likes.
The total number of LinkedIn users today is 433 million and it’s being used in over 200 countries and territories. LinkedIn is the one place where you’ll find people who are not active users on other social media platforms. This is the case because LinkedIn is strictly a professional portal. Let’s have a look at how LinkedIn can make you money:
Get a Better Job
Around 90% recruiters admit that they have at least once used LinkedIn to hire an individual. Recruitment through Facebook and Twitter is not exactly unheard of but happens, in contrast, at a meek 25% and 15% on average. You are bound to run into at least 10 recruiters because around 94% of recruiters use LinkedIn. You can make a lot of money by building connections with CEOs, recruiters and HR Managers.
Who’s Doing it Right
Gerald Haman, more commonly known as “Solutionman” on LinkedIn, is responsible for creating several famous LinkedIn Groups. One in particular is “Innovative Marketing, PR, Sales, Word-of-Mouth & Buzz Innovators“, which has over 100,000 members and is the 14th biggest LinkedIn group. He has used this platform to create networks all over the globe, and if he were to even stop working, he’d make millions through consultancy alone. We suggest that you follow his Linkedin account and learn a thing or two about networking.
These were our top five social media platform picks. We’ve just unloaded enough tips on your to make a sizable amount of cash right from your home. Now let’s move on to some general specifics and “good to knows”.
How to Win at Social media
In the end, social media platforms have a lot of things in common. Here is how you can win at any social media platform, no matter which one it is:
Pick the Social Media Platform Where Your Target Audience is
The footsteps that social media has casted on the Internet are just too big to fill and there is always going to be something that’s missing. Analytics and studying traffic can tell us a lot of things about people who are using these social media sites. If your product appeals to older women, through some quick research you can find out what social media platforms they generally prefer.
Add Social Media Buttons to All Your Pages
If you know how to rate well in the Google search index, you probably know how important blogs are. There is no cap on how much you can market your social media pages. If you’re using WordPress to upload your blogs or articles, you can use the Social Media Feather widget, making sure that after your reader is done reading, they see the option of following every social media account you own.
Hire a Social Media Manager
Social media marketing has now become an academic discipline. You can learn how to do this professionally and if you’re too busy with other projects, you can hire a social media manager. The return on this little investment can be huge. You can reach out more and ultimately earn more; after all, that’s the main idea to begin with, isn’t it?
So there you have it. If you think we’ve left something out then please leave a comment in the section below or drop us an email. Your feedback is very welcome and essential to how we tailor content that you enjoy reading.