If you have a large following, you can easily make money on social media. Currently, many people live off social media without selling anything or working full-time. And we’ve all seen the profiles of people with thousands, or even millions of followers.
While we know how important social media is to build brand image, raise awareness, and spread the word about your products, services, or business, it’s also a great way to connect with customers.
According to statistics and research studies, an average person spends two hours a day scrolling on social media. The app Takumi has conducted research and concluded that with only 1,000 followers, you can earn a solid amount if you post twice a week.
In this guide, we’ll focus on various ways how to earn money on social media. We’ll learn the basics like how many followers you need, how much you can make, how to organize your content, and find the niche that suits you. Follow along!
The Number of Followers is Important
The number of followers is important if you want to create a successful fanbase and network where you’ll advertise products, connect with your audience, and offer quality over quantity. Many brands nowadays are looking for influencers who will advertise their products or services properly and with dutiful care and attention, rather than reaching out to those with hundreds of thousands of followers.
For example, the best OnlyFans account profiles are earning dizzy amounts by following certain guidelines of posting regularly, posting relevant content, and engaging with fans. Even if your audience is not huge, you can establish your selling point and persuade the fans about certain products you believe in.
That being said, you can make profits with 1,000 followers only. Of course, the sum will be small in the beginning, but that’s a starting point for sure. Furthermore, blogging is a great opportunity that gives you freedom and independence to increase your profits.
Famous TikTok and YouTube creators earn enormous amounts by creating dance videos, cooking classes, or establishing history channels. Once you acquire followers, it’s easier to make money from social media channels since brands want to align with influencers and bloggers.
Choose The Niche
A crucial way to earn money on social media is to choose the niche you’ll create in. There are thousands of people who use social media as a side hustle and offer something different on the market. All you need is to find your specific niche, something you are passionate about and knowledgeable about.
Tips to choose the niche:
- List the topics of your interest
- Narrow it down to a specific niche
- Find a way to connect with the audience
- Check out the competition to see how they are doing in this area
- Check whether people are willing to collaborate with you so you can monetize off it
Common Ways To Earn Money
It’s worth noting that micro-influencers get better results when it comes to successful marketing and raising brand awareness. One of the common ways to make money is by producing exclusive content.
With platforms like Patreon, you can dive into the waters of membership-based profits where content will be accessible only to those followers who are willing to pay a certain monthly fee to get your membership. John Bonini is a good example of an influencer who’s established such a marketing strategy and sells content to followers.
Another useful way to monetize your following is through affiliate marketing. You can promote the brands you like and believe in and earn money at the same time.
Some brands choose affiliate marketing and build connections to promote their products and services. Platforms like Skimlinks work with such affiliate programs and allow influencers and bloggers to participate in this type of marketing.
Establishing brand partnerships is a classic way of making money on social media accounts. All you need is a good system of promoting brands and sponsoring products. Often you get to keep the products you share with your followers, as well as a cash payment for the collaboration.
Sponsored Video Series
Sponsored video series is a great way to get brands to sponsor your activities, like cooking videos or traveling. Johnny Harris with his travel and history video series is an example of a successful strategy to earn on social media.
The average cost for CPI – Cost Per Impression on Instagram is $5 to $10, on YouTube – $15 to $30, and Facebook – $4 to $8. These are just rough numbers, however, the reality can be different if you invest time and energy into your channels.
Now that you know some of the common ways to make money on social media learned about choosing your niche and whether the number of followers is important, you can give it a try! For more information, visit our blog.