Surely, you heard people say “Follow your heart” and “Do what you like” in motivational videos. The “what you like” part sounded a lot like a hobby to you, but you thought you couldn’t make money with it, didn’t you? But what if you could?
Nowadays, everyone can turn their favourite activity into a source of income with the help of social media. You can even order a custom dissertation online about it. At first glance, such a statement may appear to be entirely improbable, and you’re probably wondering now, “How can pictures and notes posted on social networks generate money for me?”
Today, the number of Instagram active users has exceeded the 100-million mark. There are more than 135 million people who use Twitter, and YouTube videos are watched more than 1 trillion times every month. How many people visit your blog or website daily? Probably not that many, but if at least 1% of them show interest in your hobby, you can increase the number of your visitors a thousand times.
Many famous bloggers were able to make a fortune by using social networks effectively. We hope what they achieved will inspire you to aim even higher. Let’s consider seven common ways of monetizing your social media accounts.
This one is particularly good for newbies who have just started their business online. Brittany Furlan, Caitlin Turner, and Shaun McBride began to build their careers using this method.
You get sponsorship money when a company or a brand reaches out to you with business proposals. For example, if you’re an experienced traveler, you can write about historical sites, landmarks, and points of interest for various tourist organizations.
You can also use podcasting to attract funds from sponsors. If you have a popular blog, your investors will certainly want to be mentioned in your podcast, which means they will be happy to pay you money for that.
This way of promotion can also help you earn some good money. For example, Liz Meghan and many other entrepreneurs rely on ads to generate income on social media. However, unlike sponsorship, hosting ads on your blog does not imply long-term cooperation.
3. Selling Goods
If you have an e-commerce business, the possibilities social media gives you can help you distribute your goods or services. By posting links on social networks, you can redirect customers to your blog or website, where they can purchase your products.
4. Affiliate Marketing
This means you are working with a certain company to help it promote and ultimately sell its services or products. Whenever someone makes a purchase thanks to your assistance, you get a commission.
For instance, many social media platforms let visitors post hyperlinks in their comments. By clicking on a link and ordering something on your partner website, the visitors of your site will bring you profit.
5. Promotion of Services
If you offer a service, you can use social media to promote and advertise them. For example, stylists can post pictures of their hairstyle ideas on Instagram. Or, if you’re a yoga coach, you can use your social media acc to get in touch with hundreds of potential clients.
6. Creative Presentation to the Public
If you are an artist, a novelist, or have a creative mindset, social media can be a wonderful way to tell other people about yourself. The Us The Duo band and Jeff Goins have taken advantage of this opportunity to get invitations to various events and promote themselves internationally.
Content is the basis of any social media channel. Even if you upload a 5-second video clip on YouTube, it is considered content. If you publish information materials on a particular topic regularly, your visitors will perceive you as someone who’s competent in this field. Therefore, social networks are a powerful tool to establish yourself as a trusted professional.
Of course, at best, your social media account shouldn’t be wasted if you have at least some audience. But, the effectiveness of your resource depends on many parameters, such as how often you post content, whether it matches your visitors’ interests, and a lot more. Anyway, you should be confident that the time and effort invested into promoting your business on social networks will pay off.