Social media has become a global phenomenon, extending its influence from Nigeria to South Africa, India, the United States, the United Kingdom, and beyond. It plays a significant role in the daily lives of most individuals, with people dedicating a major portion of their days to various social platforms. Whether it’s engaging in conversations on Facebook, tweeting on Twitter, sharing photos on Instagram, or watching videos on YouTube, social networks have seamlessly integrated into the daily routines of billions.
While many use social networks for leisure and entertainment, there’s another group of individuals who leverage these platforms to generate income. This article aims to guide you on how to monetize your presence on social media.
Note: Caution should be exercised when seeking methods to earn money on social networks online. Be wary of websites requesting payment to join a program, as many of these can be scams. All the strategies mentioned in this article are completely free, allowing you to begin implementing them today. While some may require a bit of knowledge, the internet offers numerous free learning resources.
As of January 2019, there were approximately 3.48 billion social media users worldwide. This immense user base can be likened to a vast city—the largest one on earth. Envision it as a bustling market or a city center, teeming with over 3 billion individuals. Such a massive gathering presents a wealth of opportunities to earn money. It’s akin to selling goods in a bustling market—there’s a diverse pool of potential buyers. This is the financial impact of such a vast congregation of people on social networks, essentially making them akin to gold-mines. Let’s delve into the various ways you can generate income from this expansive community.
- How to make money on social media
- 1. Become a social media marketer
- 2. Make money posting ads on social media
- 3. Affiliate marketing
- 4. Sell your product or services
- 5. Partnership program
- Additional resources
How to make money on social media
Follow these steps to make money on social media;
1. Become a social media marketer
This represents a prime method for generating income through social networks. As a social media marketer, your role involves promoting services, products, and the image of companies or individuals across various social platforms to aid in lead generation and brand expansion.
This profession is highly profitable on a global scale. In fact, you could even establish a specialized company in this field. According to Payscale, social network marketers typically earn over $49,000 annually.
Numerous enterprises, individuals, and brands seek assistance in reaching customers and enhancing their online brand presence. You have the opportunity to fulfill this need and become their trusted partner.
2. Make money posting ads on social media
Generating income through social networks by posting ads is a prevalent method. Anyone can participate in this avenue of making money by posting advertisements.
‘Ads’ is simply a shorthand for ‘advertisements.’ Earning through social media by posting ads involves showcasing ads on your social network pages for monetary gain. There are numerous approaches to achieve this.
As a social media influencer, brands often approach you to showcase their products or content on your platform, compensating you in return. Additionally, you can align with platforms like Famebit, Izea, Dealspotr, Ifluenz, and others that connect you with advertisers willing to pay for ad posts on your social network profiles.
Another viable method to monetize by posting ads on social networks is by sharing news content with shortened links. Utilizing a link shortener service, especially if you frequently share links, whether they’re related to news, sports, or other topics, can be beneficial. Some link shortener services offer payment based on the number of clicks your shared link receives, deriving their revenue from displaying ads alongside your link. For instance, if you share a news story from BBC on your social network profile and use a link shortener to condense the link, when your followers click on it, they’ll see a brief advertisement before being directed to BBC. In this way, you earn money for each click and read. Examples of link shorteners include ADF and OUO.
Furthermore, you can monetize by promoting and selling your own products through ad postings, allowing you to reach and convert a broad customer base.
3. Affiliate marketing
Affiliate marketing revolves around endorsing products and services in exchange for a commission. Depending on the content you share on your social network platforms, you can capitalize on affiliate marketing to generate income.
For instance, if you frequently post about fashion, you can become an affiliate for a fashion company. You’d include their affiliate link in your posts, and every time someone clicks and makes a purchase through that link, you earn a percentage (commission). Fashion serves as just one example; you can adopt the same approach for phones, cars, or any focus area of your profile.
If you’re worried about reaching out to companies to promote their offerings, there’s no need for concern. Affiliate marketing networks are available for you to join, providing access to numerous companies across various sectors to promote whatever aligns with your interests. Examples of affiliate networks include Commission Junction, Linkshare, Impact Radius, Amazon Affiliate, Jumia Affiliates, and Konga Affiliates.
Begin by crafting reviews for products and services on your social network profiles. Afterwards, provide a link for your followers to either purchase the product or subscribe to the services.
4. Sell your product or services
Leverage your skills by promoting them to your followers, and you’ll be amazed at the number of people eager to support you. Remember, it’s not just about promotion; presenting your skills effectively is crucial. How you present them will significantly influence their response.
Selling products is another avenue. Utilize your profile to boost sales if you have products to offer. I know a woman who began selling bags on her Facebook profile with just under 3000 friends. In a mere 4 days, she sold out her entire stock!
If you don’t have products and aren’t keen on stocking them, consider creating an online shop using platforms like Shopify. Import inventories from prominent manufacturers and suppliers globally into your online store. When visitors make purchases, the suppliers will handle the shipping, and you’ll earn a share!
5. Partnership program
Several social networks offer partnership programs that allow content creators to monetize their efforts. For instance, if creating videos is your passion, consider joining the YouTube Partner Program to earn money while doing what you love.