How to Earn a Living on Social Media
How to Earn a Living on Social Media
On average, social media users will spend at least three hours a day scrolling through content. If you’re part of this statistic, you’re probably wondering about ways to save money through your Instagram addiction—or whether it’s even possible.
If you play your cards right, social media can make for a lucrative business. With just a thousand followers on Instagram, you can start earning more than you’d previously imagined. Here’s how.
More Followers Means More Money
While exposure doesn’t necessarily dictate how much money you can make off your Instagram account, you’ll earn more with a reasonable number of followers. With that in mind, a thousand followers is an excellent starting point, considering algorithms now consider quality over quantity.
Nowadays, brands prefer to compensate a smaller audience of engaged followers—they aren’t just eyeing celebrities.
How Much Money Can You Earn Using Social Media?
Developing a social media persona that sells takes significant effort and dedication. Thus, you must consider your selling points and the type of content you can produce regularly.
Depending on your following, brands will pay anywhere in between £40 and £2,000 for a post about their products. With that in mind, creativity counts. A brand isn’t going to write you a check for a poorly-photographed product and thoughtless caption.
If you’re hoping to make the minimum off a sponsored post, you’ll have to get creative and consider what will resonate most with your followers.
How to Discover Your Niche on Social Media
Thousands of users turn to social media as a side-hustle—so you’re up against millions of competitors. If you want to make it in the social media business, you’ll have to take the time to discover your niche.
First, think about what type of content you already love producing. Are you a frequent traveller? Do you stand by sustainability and all-natural products? Think about a topic that will continue to generate conversation for years and study any opportunities to monetise them.
Are there products and services within your niche that consumers are willing to buy? What types of conversations are they already having?
How to Increase Your Following
Once you’ve established your niche, you’ll want to begin scaling your following up. While there is no overnight method to attain millions of followers online other than going viral, there are a few tested tactics that can kick the process up to double-time.
- Post Consistently: Keep your followers enticed and entertained by publishing daily content.
- Link Your Other Accounts: If you’re running an Instagram, Facebook, and Twitter account, linking them will save time off having to cross-post content.
- Run a Competition: Nothing encourages interaction like a competition! Freebies are an excellent incentive for shares, comments, and likes.
- Interact: Small, meaningful interactions are enough to establish strong relationships between your followers. Reach out to those promoting your content by commenting on their posts.
- Use Hashtags: Incorporating hashtags into your posts can help connect you to new audience members interested in a similar niche.
- Monitor Analytics: Analytics dictate how well your campaigns are performing. Take note of your most successful posts and consider why people love them.
- Use Video: Nowadays, video marketing is all the rage. Talk to your followers directly via Instagram stories or demonstrate a product on Facebook with a how-to video.
- Pay for Advertising: While it’s entirely possible to build your following organically, paying for a boost can make for a lucrative investment on high-performing posts.
How to Improve Your Existing Channels
If you’ve already gotten a head start on your social media business, there is always room for improvement.
- Monetise Your Channels Via Apps
Some applications such as TRIBE Influencer allow users to submit posts for monetisation. Regardless of your following, creating a post based on their brand aesthetic can earn you a few hundred dollars.
Use Affiliate Marketing
If you’re promoting a product or service, affiliate marketing can earn you a commission based on how many of your followers click through a particular link. If you’re dabbling in affiliate marketing, always consider a brand’s guidelines and how best to promote them.
Increase Click-Through Rates
Now that you’ve incorporated links into your posts, you’ll have to get your followers to click through to them. Don’t limit affiliate links to a single post—advertise them on banner ads, newsletters, or any type of content you produce.
Now that you’re well-versed in the social media money-making machine, it’s time to put these tips into practice. Begin by developing your brand persona and learning how best to utilise each social media platform.
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