How much time do you spend on social media daily? According to Statista, the average usage of Social media is 145 minutes per day. Some people spend way more time on social media, shifting from Facebook to Twitter to Instagram, very late into the night.
If you spend many hours on social media, you could turn part of that time into a money-making venture. Social media is constantly transforming, and you could transform the time you spend there into a lucrative source of extra income. There are numerous ways you make money on social media today.
If you are looking for ways to earn money on the side and possibly transform it into a full-time venture, social media could be the way to go for you.
This post discusses how to earn money on different social media platforms. Read on to find how to transform your leisure activity into something productive.
How to make money on social media
Don’t forget: 25 Real Ways to Make Money From Home & Create A Life You Love
1. Affiliate Marketing
You can earn money on social media by marketing or recommending a product or service offered by another business or brand. Their customers could be your social media friends or followers.
Through emails, blogs and websites, and social media, you can market products and earn commissions when someone buys via your affiliate links.
For instance, you can join the Amazon affiliate marketing program and use your social media platform to get buyers for Amazon and earn some good money.
To make the best out of affiliate marketing, you need to show some expertise and practical knowledge of what you are selling. Even better, showing knowledge in a particular subject over time will land you more sales.
For example, if you are marketing weight loss products and supplements, start by showing how you understand the subject at hand, or in this example, how you understand the weight loss journey. It is a way to build trust and attract more customers because they can see you understand what you are trying to make them buy.
Find a need or a problem your followers are facing and then recommend a trusted product that solves that problem.
You can write and review, make a video, and eBooks or audio on why people should purchase the product you are marketing.
Talk about your pros and cons for the product or service. No product is 100%, so be sure to show two sides of the coin.
Ensure you put a link in your video description or post to redirect interested buyers to the product’s store.
You will earn commissions based on terms agreed with the brands you promote. You will get paid for the commission for the purchases made through the affiliate link.
Learn how to make money with affiliate marketing
If you’d like to learn how to make money with affiliate marketing, I recommend you check out Franklin Hatchett’s Savage Affiliates course. It’s a content-rich, comprehensive step-by-step affiliate marketing training course that will teach you how to successfully earn passive income marketing other people’s products and services.
Click here to check out the Savage Affiliate training course
2. Market and Sell your Product
You can use your social media platforms like Facebook and Instagram to market and sell your products. Create a brand from scratch and attract customers to purchase from you. Social media is great for building your brand and authority in the market.
You can use social media to promote tangible or digital products like eBooks software and online tutorials or courses. Besides, consider email marketing; it is also helpful because it can easily send commercial messages to your customers.
Some tips for promoting your products on social media include:
- Invest in media such as good quality photos and videos; this is a sure way to appeal to potential buyers
- Remain relevant and realistic in your promotion
- Maintain consistency
- Be quick to respond to any queries made by your audience
Instagram recently launched Instagram Shop, where businesses can market their goods to their audience. And, it is free. If you are starting your brand, be sure to make good use of such platforms.
Though not new, you can also make good use of Facebook marketplaces. They are a great way to land customers for your products.
3. Promote Products and Services
You can earn money by promoting the products and services of other businesses.
This is an easy way of earning money through social media. It requires a good number of followers on social media.
You want to market products for reliable companies only, so be sure to do a background check. Find a product you believe in or have used as this will make it easy for you to convince buyers to purchase the product.
If you are using a website to promote another business’s products and services, ensure you have a neat and professional website that will attract buyers. Talk to your online followers about your personal experience with the product. Always value your customers’ feedback and ask for their opinion about the product. Develop an online presence on your social media or blog.
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4. Promote Coaching and Consulting Services
Social media is an excellent platform to promote consulting services. If you are conversant in a certain field, you can make videos about it and post them online for your followers.
Coaching can be done through live video. You need to pick a good slot that you are comfortable with, has a great potential to grow and attract a large audience.
Some of the fields you could offer coaching services include:
- Real estate
- Mental health issues
- Relationships and family
- Financial independence
Once you start getting customers, make sure you understand them well and their needs. Use multiple social platforms to market your business. Plan on how to grow your business and attract potential clients by giving them valuable and good content.
You can also create a website that will make you available to them. You can charge those consulting you according to the time you have spent on them and your experience in the field.
Coaching services perform go well with Facebook Groups. If your field of expertise is financial independence, create a group around that. Proceed to offer some free tips and classes ( everybody loves some freebies). Then market your packages to your audience; of course, there will be someone interested in pursuing more.
5. Become a Social Media Influencer
One thing about becoming a social media influencer is that it is getting pretty competitive every day. A lot of people now realize it is lucrative, and they are getting into it.
You will notice there are tons of influencers on Instagram and Facebook. So, be ready for some competition. And by this, we mean that you should strive to outdo others in the social media influencing games.
If you are imaginative and are ready to work tirelessly to get to the top, social media influencing could work well for you. You may have to invest time and money to keep your audience interested and engaged.
You can influence people to use different products from different companies or even create your own brand. You can narrow down, which tends to pay better or you remain broad if you love to explore many different aspects.
The primary way social media influencers make money is through sponsored posts. This is when companies partner with you to promote their product and services. Usually, what you make will depend on your number of followers and the amount of engagement you generate.
Learn more: How to Become a Paid Influencer and Make Money on Social Media
6. Manage Social Media Platforms
Any business, brand or company needs to have a social media presence nowadays. And the thing is, building a social media presence is not usually easy.
If you have managed to build a following and are creative enough to keep your audience engaged and interested, you could work as a social media manager. Companies and businesses are looking for social media experts to help them build a social media presence.
To get social media managing jobs, you may need to prove how good you are at the job. And how will you prove this? Probably by showing pages you built from scratch and how successfully you manage them.
You could pitch to companies that need your services or join freelancing sites to find social media managing jobs.
More ways to make money on social media
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7. Monetize a YouTube Channel
Creating and monetizing a youtube channel is another great way to make money on social media platforms.
Youtube allows people to monetize their channels when they have more than 4,000 valid public watch hours in the last 12 months and more than 1,000 subscribers. You can then earn from video views and ads aired along with your content.
You can create content on whatever you like, from nutrition, fitness, parenting, comedy, pranks, mental health, pets and books, movie and music reviews.
It may take some time to get some good money from Youtube. But, consistency and quality content will sure get you there in no time.
Learn more: How to Monetize Your YouTube Channel – A Beginner’s Guide
8. Join Local Facebook Selling and Buying Groups
If you have not yet been a member of Local Facebook selling and buying groups, you could try this out. One thing you will love about this is, it doesn’t need much expertise and creativity. You simply need to take great photos, post on the groups, and probably include pricing and how people can contact you.
Wondering what you can sell on Local Facebook groups
- Flipped items
- Items you no longer need such as furniture or clothes
- Items you made yourself
- Services such as moving and cleaning services
Just be sure to make every detail of your business clear on the post. It becomes more accessible for people to contact you when they already know what you are offering.
9. Grow Social Media Accounts and Sell Them
Yes, you read that right. This is a lucrative business venture, especially on Instagram and Tik Tok. People amass followers and sell the accounts to people who want a large audience but have difficulty building the audience. It looks shady, but it is legit.
The good thing is you can grow as many accounts as possible at ago. You get to set your prices and sell them depending on the quality and quantity of the audience.
This is popular and lucrative on Instagram and Tik Tok, but people sell Facebook pages and accounts too.
If you are good at building followers, consider venturing into this.
10. Donations and Fundraisers
This is more like giving and receiving tips. For Instance, on Tik Tok, a feature allows members to buy coins and tip their favorite Tik Tokers whenever they go live. This feature is also available on Twitch.
So how does this Tik Tok feature work? When you use TikTok, you can buy coins. One hundred coins cost $1.39. When you go live, your followers can tip you the number of coins they wish to.
And what do you do with the coins? You can convert them to what TikTok calls diamonds; Tiktok then transforms the diamonds into PayPal cash.
You have to good at what you do; nobody will tip you for nothing. Be sure to encourage your followers to tip you, but don’t have it down their throats.
This works well if you are into entertainment, comedy or creative writing. People will easily tip you for entertaining them.
Ready to make money on social media?
We spend a lot of time on social media platforms. We can make the time we spend there even more productive by making some bucks. You do not have to start by making millions.
Of course, you will have to start low and build your way up. How fast you grow may largely depend on your creativity, consistency and time invested in the art.
Voila, those are the best ways to make money on social media. But before we call it a wrap, we would love to hear from you.
What are some of the ways you use to earn money on social media? What are your best social media apps to make money on? We would be delighted to hear from you. Talk to us in the comment box below!