The Ultimate Guide Of Making Money On Social Media--(Twitter, Instagram, Pinterest, Facebook, Linkedin).
The statement "spending money to make money" can be risky. Social media is one way to limit risk and get around that issue. As it is possible to make money with little or no start up costs using your social media account. Monetize Facebook, YouTube, Instagram, Pinterest, Twitter, and even Linkedin.
Starting a business can cost money, even with blogging, which requires buying a domain name, paying for web hosting, design, ads/marketing promotions, and other investment costs to increase engagement and traffic. Social media does not require any of that. Most businesses, even a blog, also require extensive time and effort-- which at the end does not guarantee your blog to make money.
If you have a business idea or a number of followers or a great story to tell, you can monetize it by using your social media accounts. Or make money just by encouraging people use certain products. People check their account feeds in waking hours, during commutes, while eating, during their lunch breaks-- without doubt, social media plays a significant role in our every day lives. In fact, maybe too much of a role!
Social media is a fast, inexpensive and effective way to reach out to almost the entire world's population. That is the primary purpose of any business- to connect with consumers and maximize profit. Those with many followers, as well as influences, can also make in effect free money by doing a few simple things.
Social media is an impressive tool to build relationships with customers and fans. Over 60 percent of users indicated that they discover brands on social platforms. It is an awesomely effective and cheap way to get exposure, build trust, increasing website traffic and boosting sales.
You probably already spend a significant amount of your free time on social media- from seeing what your friends are up to, reading the latest news and posting selfies. Time is valuable, and if you are struggling to pay the bills, rent, and basic living expenses, you should seize any money-making opportunities that comes your way. just monetize your feed for free to make some extra cash.
Unlike most businesses, using social media to make money is not risky. It is free to use and your time and effort won't be wasted. Here is how to get started.
Carefully Select Your Niche and A Social Media Platform
Each social media platform comes with a unique feature and not every platform will be a good fit for your business or idea. You should invest your time and skills on platforms that will reach your target audience. Below are the basics you should about popular social media platforms and which is best for your business.
Facebook: The most popular social media network, with over 2.27 billion monthly users. Every business as well as potential influencer should be on Facebook to make some extra money. It is excellent for promoting services, boosting brand recognition and increase customer support. Facebook can be used to share anything, from photos to company updates. A Facebook business account allows you to highlight contact information, hours of operation and the type of services and products you offer. Facebook comes with business page types, and you can currently choose from:
- Local Business or Place: For existing business owners. You do not have to 'own' a retail store or restaurant. You can start a home-based bakery, daycare, pet services, flowers arrangement, and other services to reach local consumers.
- Company, Organization or Institution: Suitable for large corporations with multiple locations, online businesses, e-commerce, and for those who not comfortable displaying a physical address. This option comes with an about section, mission, company overview and description.
- Brand or Products: For selling physical products such as clothing or handmade jewelry and crafts.
- Artist, Band or Public Figure: For those that are looking to promote themselves as a professional individual.
- Entertainment: For the media industry- if you are creating a TV show, music video or magazine. There are over 30 different categories to choose from.
- Cause or Community: For non-profit organizations.
Facebook for business is best for the following. But as noted, even if you are not a business, and have a number of followers, you can get paid from affiliates, promoting brands, and other steps. This is almost always free to do.
- Messaging: Facebook messenger makes it easy to reply to customers. There are several new tools and updates on Facebook that makes it easy to have conversations.
- Target Audience: Facebook comes with excellent targeting tools to target a specific location, demographics, and interest groups. This option makes it know your audience/customers.
- Sharing content: It is easy to share original content from your website/blog and other sources.
- Events: Facebook comes with an amazing event feature. Sending personal invitations to people can be time-consuming. Facebook event feature allows you to host private events, parties, and concerts. This can be used to sell tickets or networking.
- Videos: You can share existing videos or through Facebook Live, which allows you to broadcast to a broad audience for free.
Instagram has increasingly become popular throughout the years. The social media platform is a visual platform that is entirely based on photos and video posts. This is what makes it easier to make free money from, as anyone can get paid by promoting a brand.
Instagram is a photo-sharing platform, and it requires professional-looking photos to build an audience, boosting sales and scaling your business. For those reasons, it is best for:
- Photographers
- Fashion/clothing
- Selling physical products
- Food bloggers
- Restaurant owners
- Youtubers.
- Influencers
- Those with a number of followers, even if just in the hundreds.
Twitter is a social media platform for short updates (240 characters or fewer). It isn't useful for every business or influencer. On Twitter, you can share links to your blog posts, videos, images, links, polls and more. Skip twitter if your business is highly visual or without a blog/website.
There are some ways to make money from it though. Twitter is a content-sharing platform, and your potential customers love compelling posts. It is a quick tool for making content go viral. It is best for:
- Bloggers
- Writers- getting sales on your latest book
- Viral content
- Topic discussion (breaking news, entertainment related etc)
Pinterest is a digital bulletin board platform that allows users to save and display content to a virtual collection or "digital scrapbook". It is great for sharing pictures and inspiring ideas. Pinterest is best for:
- •Retail- Selling products
- •Fashion
- • Visual ‘How-to’ & DIY tutorials
- •Arts & Crafts
- •Photography
- •Influencers
- •Gift guides
YouTube can be used to make money as well, even as a source of passive income. This video social media type site is a little different from the others, but it dominates its space. Families of all ages, backgrounds, languages, and skills sets can post a video and get paid from advertisements. Read more about YouTube money making opportunities.
Linkedin is not the most popular social media network and not easy to make money from, but it is the best professional networking platform. It has over 500 million users, and the average household income is over $100,000 per user. It is a great platform to build credibility and to display your education, work, and professional accomplishments.
A Linkedin page for business allows you to position yourself as a leader/CEO in your company. A company page on Linkedin helps potential customers to learn more about your business, services, or products. Linkedin is best for:
- New Artists and writers
- Networking with related industry
- Quality clients and customers
- Finding new hires & job opportunities
- Brand awareness
- Receiving recommendations are personal testimonials
- Learning about professional etiquettes and corporate culture
As stated above, not all social media network will work with your business idea, and it is important to select a platform that is closely related to your niche to make money with your social media accounts.
Crowdfunding - Blending social media and a financial website, Crowdfunding can be monetized as well. People create fund raisers for starting a business or manufacturing a unique product. Or these use the “crowd” to raise money to pay the bills, get medical treatment, cover car repairs, or other critical expenses. It is social media with a twist, and more on crowdfunding for paying bills.
Making Money On Twitter- Monetizing Your Twitter Account
Twitter is a microblogging platform with over 321 million users. The platform does not allow any direct payments or transactions, so all money-making opportunities are through done third-party so as an affiliate or sponsoring an item. But those are free methods for making money on this social media platform. Here is how to make money on Twitter.
Sponsored Tweets: If you have a large number of engaged followers, you can advertise for companies and brand by discussing their products/services to encourage sales. Many celebrities and a handful of individuals have been using this method to make money. It takes millions of 'quality' followers to actually generate revenue. For instance, Kim Kardashian makes $9,100 per tweet with 57 million followers. It is possible for anyone to make a few extra bucks or more on Twitter by growing their follower's list. Visit PerPerTweet.com list your price.
Affiliate Marketing: Become an affiliate marketer on Twitter by recommending products and earning a commission. Affiliate links can be posted directly on Twitter or your blog. Product reviews should be less than 140 characters and should avoid sentences like "You should try this product because" or "This product is great because"- things that people don't want to read. Product reviews should be useful to your followers, how will it solve their problems? what will it help them do? Knowing these answers will help you to create a short, powerful tweet to make your audience willing to buy a product, which will allow you to earn a commission. Below are some affiliate programs that can be used on Twitter. You can also participate in other affiliate networks like Clickbank and Amazon.
- Itunes Affiliate: Have a favorite song, book or movie? Share it with your followers on Twitter and earn commission through the iTunes affiliate program.
- Groupon Affiliate: Join Groupon affiliate program and make money on Twitter for promoting deals. You can earn up to 10% commission, and there are thousands of active Groupon deals to promote.
Providing Customer Service: Twitter has a customer service feature in which users write reviews, connect with brands and share their frustrations. According to Twitter marketing research, customers are willing to spend 3-20% more money on a product if they receive a direct tweet/response from a business. Busy brands and companies are always looking to hire social media managers and Twitter consumer support to interact with customers, publish tweets, responding to direct messages, using relevant keywords, brand & product mention and to make their Twitter account more "customer-friendly." Social Media Manager jobs can be found throughout the internet, on Twitter platform and Freelance sites.
Increase Sales and Traffic: Twitter is an excellent platform to increase your website traffic and boost sales indirectly. Make your tweet stand-out by utilizing Twitter cards, keywords, a great headline, and Twitter Analytics tools.
Making Money On Facebook
Facebook is the most extensive and popular social media network, and anyone can make money on this platform. Here are a few suggestions:
- Sell Locally: Join the Facebook marketplace and sell items locally for free. You can list a room/apartment to rent, selling clothing, cars, electronics, games, shoes and much more.
- Selling From Your Fanpage: After building an organic audience, you get traffic to your website to boost sales or by using Facebook Advertising.
- Facebook Influencer: A Facebook influencer is a person with a large number of friends. Many brands struggle to build fans that will earn them money from Facebook and as a result, they use influencers for help. Influencers earn money by delivering sponsored content or by sharing affiliate links.
- Facebook Groups: Creating a Facebook group within your niche can be an effective way to make sales and to let people know what you offer. Facebook groups are generally useful if you sell digital services, informational products, coaching services, an online course or ebook. You can create a facebook group for free, targeting members that needs help- then you can suggest one of your product as a solution to their problems.
Making Money On Instagram
Making money on Instagram requires reaching the "influence level" with thousands/millions of real followers. It takes time and effort to build an online reputation on Instagram. They are typically 'trusted experts' on food, fashion, beauty etc and their opinions/recommendations are respected and trusted. Influencers make money on Instagram by doing sponsored posts for brands. Most brands are willing to pay between $200 to $400 per post, while bigger brands like Gucci are willing to pay up to $100,000 per post. Below are some influencer marketplace to increase your chances of getting discovered. These marketplaces can also be used for other social media platforms to find influencer opportunities.
- Shoutcart.com
- Fohrcard.com
- Grapevinelogic.com
- Indahash.com
Online Store :Instagram is a visual platform, which makes it a cheap and effective advertising tool for your online store. It is a great place to sell physical or digital products and paid services.
Selling Photography: Brands love original images. It is estimated that an average influencer spends between 30 minutes to 1.25 to shot, edit and caption an Instagram post. With all that effort, it is possible to sell Instagram photos and make money. Images can sell as content opportunities, e-commerce advertising or as tangible prints.
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