How to Make Money with Social Media?
Are you a social media addict with lots of followers? Do you want to turn those followers into a source of income? Right now, many people are trying to learn how to make money with social media. It’s a great place to make money without selling anything.
According to studies, the average person spends around 2 hours daily on social media. If you are an addict, you are likely to spend much more.
In case nobody told you, the time you spend on social media can be used to make money. It’s a well-known truth that social platforms are among the most lucrative places for businesses and if you know how to play right, you can become a star as well.
The best thing about social media is that it doesn’t require you to have millions of followers to make money. In fact, a study was done by Instagram influencer app Takumi suggests that having 1,000 followers is enough to make over $4,000 per year.
So, if you plan on turning your social media addiction into a way of earning dollars, here’s everything you need to know.
Best Ways To Make Money With Social Media
Pick a platform
Your first step should be deciding which platform is going to be your top priority. Ideally, you’ll want to set up profiles on as many social media sites as possible, but one needs to be your top priority.
Several studies show that Instagram is the best place to be an influencer. More than 80% of influencers in 2018 said that Instagram was their number one platform. Around 12% preferred YouTube and only 2% recommended Facebook to be an influencer.
One of the reasons Instagram is so popular among influencers is its wide variety of tools compared to other platforms.
Based on these stats, I recommend those who are searching for how to make money with social media to pick Instagram as their top priority.
Join a network of influencers
Joining a network of influencers is another great way to make extra money from social media. These platforms connect brands with people based on their interests.
Let’s say someone shares a lot of content about how to make money with social media on their profiles. Their followers are obviously interested in their content, that’s why they are following them.
So, if a brand wants to collaborate with you, it’ll get matched with you through these networks. These platforms will also allow you to handle communication with the brands you work with. This can be very helpful to stay organized because the direct messaging feature on mainstream social media doesn’t give you this freedom. Mainly because dealing with thousands of messages in your inbox can be tough at times.
Keep your account active
An idle social media account is only good for snooping around and stalking your ex. It won’t do you any good when it comes to making money from social media.
You can have thousands of followers on social media but if your account is inactive, it’s equivalent to having none. This is also why all the top influencers post regular updates on their timelines. Continually posting not only makes your accounts trustworthy but also proves to the followers that you’re real and not just a bot.
Remember that there’s a big difference between posting meaningful stuff and posting nonsense just to keep your account active. Your focus should always be on posting relevant stuff to keep your followers engaged.
Find a specific niche
There are countless people out there trying to make money on social media, so if you want to make anything out of it you have to do something different. By different, I don’t mean doing something completely out of this world, but you have to find a specific niche.
Now think about what you are most passionate about. You will be spending a lot of time doing that thing so make sure it’s something you love.
You must also ensure that your chosen niche can generate conversations for years to come. For example, traveling is a niche with a lot of depth to it. So, if you’re knowledgeable in traveling, turn your focus on economy travel, first-class travel, student travel and plenty of similar stuff.
Whatever you choose to do, check whether there are opportunities to monetize and is the audience willing to pay or not?
Give away free stuff
Giving away free stuff is a surefire way to increase the followers’ engagement because everyone loves freebies.
Once you start collaborating with brands, you can suggest giveaways. Ultimately, it’ll be the sponsors paying for your content. With that said, you don’t have to commit to anything you’re uncomfortable with. If a brand wants you to post content that you think doesn’t add value to your audience, you can respectfully refuse to post it.
Keep in mind that posting anything that is presented to you will make you lose credibility. This is something you don’t want to happen because it will cause you to drop followers. And without followers, it’s impossible to make money using social media.
Don’t be afraid of using hashtags
If you want to earn extra money on social media, start using hashtags! And don’t use just one per post; use many of them. Studies show that using multiple hashtags is an excellent way to make more money online.
If you are unsure that how many hashtags should be used per post, the number is seven. Using seven hashtags per posts gets you the highest engagement rate. Anything more than that would make the post seem spammy.
Also, use a variety of hashtags to reach a broader audience.
While using common hashtags such as #tbt or throwback Thursday is a great way to reach masses, you must create unique and appropriate hashtags for each campaign to avoid getting lost in the mix.
There are countless opportunities for those trying to learn how to make money with social media. People are making fortunes on social platforms without even selling anything. If you already have a lot of followers you can use your profile to get sponsorships. But if you don’t have followers, you can increase your following by posting engaging stuff on your timeline.
If you follow the aforementioned tips, your life can turn around within a year. Good luck!