Do a lot of people follow you online? Looking for a way to convert your social media fans into dollars?
Some
individuals can make life on social media right now without selling anything.
Everyone
has seen the profiles of "normal" individuals who have amassed
thousands of followers.
They
constantly seem to be out on an adventure or having a good time. So how can
they make enough money to support this fantastic way of life?
They
have a significant impact on the people around them.
In
the next two years, influencer marketing is expected to grow from $5-10 billion
worldwide.
Throughout
2017, 86% of marketers used influencer marketing strategies.
Further,
39% of firms reported increased spending on influencer marketing in 2018.
If
your goal is to earn a job as a social media influencer, all this is
encouraging news. This tutorial will teach you how to increase your
attractiveness to marketers and companies even if you don't have a large
following.
8 Steps to
Make money on social media
- Pick a platform
- Join a network for influencers
- Give away free stuff
- Use multiple hashtags
- Partner with a mobile app
- Know your worth
- Post-high-quality photos
- Fully disclose your relationships with brands
First, you must
choose the platform you want to use most often.
While it's
essential to have a presence on as many social media platforms as possible,
your primary focus should be on one.
Based on the
findings, Instagram is where most social media influencers do their job.
In 2018,
Instagram was ranked as the preferred social media platform by over 82% of
social media influencers. Only 13% claimed they use YouTube, and only 2%
mentioned using Facebook.
It's likely
since 76% of influencers believe Instagram to have the greatest features among
social media sites.
The stats point
squarely toward making Instagram your main focus.
Don't try to
create something new out of nothing. You should be able to duplicate other
influencers' Instagram success if you do the required work.
Use your other
social media accounts to boost your brand's image and, in turn, your reach.
However, you may attempt to expand your Instagram following by promoting your account on other social media sites like Facebook and Twitter.
2. Join a
network for influencers
Joining
networks designed for influencers is another option for monetizing your social
media activity.
As a result of
their followership and areas of expertise, these sites are used by businesses
to link up with individuals.
It's
recommended that you begin your search on Brandwatch.
Say you have a
lot of followers and likes on social media because you post about yoga and
holistic health.
If you sign up
for one of these networks, advertisers with a product that relates to your
content will have an easier time finding you.
Brands looking
to partner with influencers to promote products like the latest yoga mat and
yoga wear will find you via these platforms.
You may manage
all interactions with the brands via these channels.
Using this
method instead of social media direct message might help you keep more
organized. When you have many followers, your inbox will quickly overflow with
messages.
3. Give away
free stuff
Everyone enjoys
a freebie occasionally.
Hosting a
giveaway is a great method to boost interaction with your fans.
You may propose
a giveaway after you've begun bargaining with sponsors and figured out the kind
of content you should be providing.
However, you
need not agree to anything that makes you feel uneasy. You may politely decline
the offer if you don't believe the material, they want you to share would
benefit your audience.
Check out Kylie
Jenner's latest Instagram post:
More
than 369 million people follow Jenner on Instagram.
In
what ways can 369 million people be kept amused? Never send them unwanted
messages. This is unmistakably a brand promotion, yes. But she's doing it in a
manner that benefits her fans by offering them a chance to get a freebie.
All
the pieces for a successful contest giveaway are here in one post.
Even
if businesses are not paying you, you may attempt to increase your following by
giving away something of value.
Spending
one hundred dollars on a gift card to distribute to your fans is a worthy investment.
After
this, you'll be able to demonstrate your successful campaign's level of
engagement to other businesses.
4. Use
multiple hashtags
You
can't be shy about using hashtags if you want to make money on social
media.
However,
don't limit yourself to just one in each comment.
Multiple
hashtags have been shown to improve interaction.
Here,
seven seems to do the trick.
The
best interaction rates are seen with posts containing seven hashtags.
You
shouldn't go crazy, but that doesn't mean you shouldn't try. It's spammy to use
more than eight hashtags in a single post.
Change
up your hashtag use.
Some
of them must be general and made for the largest possible audience. A common
hashtag is #tbt, which stands for "throwback Thursday."
The
whole public would be made aware of your message as a result.
The
catch is that you mustn't become a mere statistic.
Construct
a set of specific and relevant hashtags for each campaign. Look at the sample
giveaway post to see how Jenner utilized the hashtag #ElevateYourLifestyle to
make her post stand out.
5. Partner with
a mobile app
I've
seen a trend where the same social media influencers repeatedly partner with
the same businesses. They advertise various products, including clothes,
workout gear, accessories, and food.
While
this approach may have flaws at first glance, it may not be conducive to
long-term expansion.
If
your cost per post increases beyond a certain point, businesses that have
previously worked with you may go elsewhere to promote their products.
Do
not be afraid to go outside the box and team up with alternative brands like
mobile apps.
An
excellent case in point of this tactic in action is a social influencer, Eric Rubens.
Eric's
Instagram following exceeds 457k.
In
his bio, you'll see that he's pushing several distinct aspects of his brand image.
His website and YouTube handle are both publicly viewable.
But
notice what I've underlined. It's his association with the cutting-edge
smartphone app, Explorest.
This app's concept is one of a kind.
It
provides detailed instructions on how to get to spots ideal for taking
interesting pictures.
Additionally,
Eric sees this concept as consistent with his self-perception. Looking over his
profile, it's clear that he is an incredible photographer. As a result, we may
safely assume that his audience cares about this kind of material.
For
this reason, his collaboration with Explorest, a mobile app, proved fruitful.
6. Know your
worth
80%
of influencers surveyed said that paid endorsement material was their main
source of revenue.
This
trumped sponsored content and referral links. Brands contract a mere 33% of
influencers.
Ensure
your safety and that you are compensated fairly for your efforts.
If
companies want to give you free stuff, great, but don't simply post for them.
That won't cut it if you need to earn a livelihood.
You
can tell by looking at the graph below that marketers want to allocate more of
their marketing spending toward influencers:
Over
half of all companies spend less than $250 for each post.
Another
27% spend anything from $250 to $1,000.
Only
4% offer up to $3,000 for each posting.
You
probably won't be paid $3,000 for a single article unless you're a superstar.
Despite this, a goal in the range of $250-$1,000 is fair.
For
argument, let's imagine that you publish two sponsored pieces for separate
businesses each week. You get $750 from one and $250 from the other.
You'll
earn well over $50,000 annually if you maintain that clip consistently
throughout the year.
7. Post-high-quality
photos
If
you're serious about building your social impact, you should only post
high-quality images.
If you need to, go out and get a high-quality camera. The alternative is to upgrade to a smartphone with a better camera.
Just
as the partnership with the smartphone app shows, producing excellent images
may open up many doors for you.
Have
a look at Albert Hongbo Yang's profile on Instagram:
These
photos are just stunning.
With
over 139k engaged followers, Albert has a substantial advantage when
negotiating with sponsors to include their products in his photography.
Instagram
may be a profitable platform for photographers, even if they have no interest
in selling physical goods.
Images
that both capture the eye and provide credibility should be shared.
8. Fully
disclose your relationships with brands
Those
who want to be taken seriously as social influencers must be transparent about
any endorsement deals they may have entered.
To
start, you must avoid doing anything that might mislead your followers or earn
their suspicion. That can't be the case.
But
the FTC (Federal Trade Commission) requires that, so that's the most crucial
part.
According
to the FTC, these disclaimers must be easily visible. You shouldn't use
hashtags like "#thanks" or "#collab," which might be taken
in several ways.
A disclosure that requires readers to "click further" or visit a new page to see it is likewise useless.
View
Anastasia Ashley's post below for guidance on approaching relationship
disclosure.
In
this commercial, Anastasia endorses the skincare line La Roche-Posay.
She
disclosed her affiliation with the company by tagging them and using the
hashtag #sponsored in her post.
There's
zero room for doubt there. She is following Federal Trade Commission rules.
Conclusion
Making money on social media is easy now. Some people can get by without ever selling anything at all.
Those
with sizable online followings may monetize your accounts by promoting various products.
Even
if you don't have a huge fanbase, you may grow your audience and activity to
attract additional business.
I
ensure that if you follow the steps in this article, you will be able to
transform your social media accounts into cash machine.
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