Social media has gone beyond being a means of communication or interaction. The various existing social media platforms are now being utilized for diverse purposes, part of which involves revenue generation.Making money off social media isn’t just for celebrities or social media marketers. With some careful content planning, intentional actions, and a solid strategy in place, you can legally monetize your social media accounts and start generating revenue right from your laptop, tablet, or smartphone.
Check out five ways you can monetize your social media accounts.
- EMBARK ON AN E-LEARNING JOURNEY
The E-learning industry is currently experiencing exponential growth which is still likely to increase in subsequent years. E-learning is known as a learning system based on formalized teaching but with the help of electronic resources. This means, With the availability of a webcam and good internet connection, you can proceed to teach others and earn money just by sharing your knowledge online. You could also create an online course or write an e-book that can be purchased at affordable prices.
On this journey, your social media accounts serve as a great venue for selling your e-learning resources. You can begin this journey by posting educative content online for your community members which will make them thirst for more and want to invest in the learning process.
2. RUN ADVERTS
This is another scenario where the number of followers you have doesn’t matter. The requirement to thrive in advertising is a strong social media presence and engaging community members. Having met this requirement, you can sell slots (AD Slots) to start-ups or brands that will like to push their content to potential buyers online.
3. AFFILIATE MARKETING
Affiliate marketing is the process of earning a commission by promoting other people’s products and services. This means you get to earn money from a company by showcasing their products and services, and for every sale, you drive, you get a commission.
For this type of marketing, you will need to register with the company of choice and get a unique affiliate link; this is to prove to clients and prospects that you’re the real deal and not a fraud. You don’t have to pay anything to register as a company’s affiliate marketer, and according to your stipulated agreement with the company, you earn a certain amount as commission for each sale you drive.
4. BRAND INFLUENCING
Influencer marketing is one of the prominent methods companies adopt nowadays to drive more sales. This is because using an influencer tends to provide the brand with the required credibility and visibility it cannot achieve on its own. If you want to go into brand influencing, you need to have a really engaging social media community and lots of active community members. Once you have a reputable social media presence, it is likely you would become an influencing magnet attracting companies who are looking for people to help them advertise their products and services.
5. COMMUNITY MANAGEMENT
Being a community manager is also a great way to monetize your social media accounts. A community manager is saddled with the responsibility of bridging the gap between the community and the brand. Community Managers serve as the face of a company.
They are generally responsible for managing and handling communications in both directions and are involved in various activities such as communications, PR, social media, events, and content creation. The primary requirement to perform this role is good human relation skills, and the ability to create engaging conversations.
What other means have you been using to monetize your social media accounts? Let us know in the comment section.