How to Use Social Media to Earn Money
The number of internet users and social media users is on a constant rise. If you are a business owner or just a social media user, then you might want to learn how to use social media to earn money.
According to research, the estimated total social media users worldwide in 2018 was 2.65 billion and expected to grow in 2021 to almost 3.1 billion. As of January 2020, the most popular social media worldwide is Facebook, with almost 2.54 billion monthly active users, and followed by YouTube, with approximately 2 billion users.
A survey also shows that an average person spends 2 hours and 22 minutes a day on social media. However, if you are a social media addict, you are probably spending more time.
Since you are spending so much of your time on social media, how about you try to monetize and make actual money from it? There are billions of social media users and a handful of popular social media platforms, this can be quite a lucrative source of income if you know how to play the cards right. For example, if you want to earn money on Instagram, and you have about 100,000 followers, you can follow the tips in this article and actually earn $700 to $900 per post.
Here are some steps on how to use social media to earn money
Choose a platform
If you already have thousands of followers on your social media account/s, then it will be easy for you to start monetizing your social media. But for the newbies, you can use different social media platforms that you like. You can create different accounts for different social media platforms. But you must choose which of these will you prioritize the most for your bread and butter.
According to research, Instagram is the most used social media platform by social media influencers. Although you could also use other platforms such as Facebook, YouTube, Twitter, etc.
Boost your social media followers
You need to have thousands of followers to get started. This is probably the most painstaking task because there are no shortcuts in building an organic following on social media. For example, you want to build your brand on Instagram. To help you with your branding, you can do these following tips:
- Use hashtags on your captions such as trending hashtags.
- Generate engagement by using descriptive captions. The longer, the better.
- Create unique visual content.
- Interact with local or micro-influencers.
- Take advantage of the IGTV.
- Post regularly on Instagram stories.
- Use Instagram Stories Highlights to introduce your brand.
- Post more videos on your feed.
- Use other marketing channels of platforms to promote your Instagram.
Join influencer marketing platforms
These platforms help connect different brands with social media influencers. Below are some of the top influencer marketing platforms in the US.
- Tagger Media
Brands will choose influencers to promote their marketing products based on the number of followers the influencers have and their specialties (example: fashion, beauty, sports, etc.).
Promoting brands or products
One of the most common ways to earn using your social media account is by promoting brands and products. The reason why brands choose an influencer is that they have a high engagement rate. Therefore, if your platform is Instagram, then you must know how to write captions that drive engagement.
There are also other ways you can use social media to earn money aside from being a social media influencer. You should do the following:
Affiliate marketing is quite similar to promoting a brand. But this time, you want your followers to click on a link to direct them to the vendor’s website and make a purchase. As a commission, you will get paid each time you lead someone to the vendor’s website and transform that action to sales.
Becoming an affiliate marketer is so easy that you can start right away and generate revenue. Plus, the businesses are willing to pay commissions each time you successfully promoted their product or service.
Sell and promote products or services
One way to earn money from social media is by promoting products and services. This can be other brand’s products or even your own products. Social media has a huge contribution to the success of most businesses. It is inexpensive, reaches a broad audience, and allows direct contact with target customers. There are different ways on how you can promote products and services on social media effectively. Here are some tips.
- Join social media communities to promote products.
- Run a social media promotion code and deals.
- Provide social proof.
- Run a contest.
Using promotions will not only increase sales; it will also increase brand awareness and increase customer traffic.
Become a social media manager
According to Glassdoor, the average salary of a social media manager is $50,473 a year. A social media manager’s role is to monitor and execute the social media presence of a business or individual. They create marketing campaigns and brand promotions across different social media platforms. Also, a part of their task is to monitor the social media analytics, respond to customer messages and comments, and produce fresh and engaging content to be posted on social media.
If you want to learn more about how to use social media to earn money, then enrolling in online courses like “Ways To Make Money Online: Using The Power Of Social Media!” and “Monetize Your Instagram” will help you with their easy-to-understand step-by-step guides.