As social media grows, so does the functionality of each platform, and opportunity for profits. Recently, digital communities have become a channel for advertising and profit for businesses of all types as well as social media influencers. Whether you already carry an online presence at recognizable reach, or you’re just the girl or boy next door, social media can be a monetization outlet for you. You might wonder how posting pictures or videos on social media can get the cash flow running. Well, you’re in luck. This blog will review the options for social media monetization and get you started with the basics for your profit earning strategy.
Advertise and Monetize
As you delve into social media monetization, you’ll begin to see that a primary source is advertisement. Advertisements have slowly been integrated into every social media platform. Instagram has incorporated advertisement slides into their stories. Facebook features banner ads that wrap newsfeed posts. Many popular videos, across platforms, now include involuntary advertisement pause breaks.
This type of social media monetization is clear cut. Ad networks will compensate you for incorporating these advertisements onto your social media platforms. All you need to do is sign up. However, be aware that some premier networks will require you to meet a traffic quota. It is also important to know that an advertisement can be both private and public. Private ad networks allow you to collaborate on your price and brand choices. Take some time to research the best fit ad network for your platform before getting started.
Ready to sign up for an ad network? Try SocialMob.
On Social Media, Great Content Pays
Fortunately, the industry has evolved past sole advertisement monetization, and creativity has reached a new level of importance. Real and unique content is trending in all areas of our lives online. Social media now elevates this culture change by monetizing creative contribution.
The most prominent platform incorporating this monetization strategy is YouTube. If you have a fondness for producing videos, sharing vlogs, or engaging with fun online communities, this may be your top monetization pick. Already have a YouTube channel? Even better! YouTube has developed a partnership program that offers users with 1000 subscribers and 4000 hours of view time to earn money from the advertisements that are placed in or around the videos. Content viewed by YouTube Red subscribers contributes to this earning commission. To get started, begin by making sure that you have worldwide commercial rights to your video content. Then get your channel connected to Google Adsense.
If longer form video isn’t your medium of choice, no problem. Social media platforms everywhere have become steady content sharing channels. Social entertainment publishers like Diply or Buzzfeed aim to expand their audience through regular social media users like yourself. If you’re in the habit of sharing quality content, most likely you have already built yourself a fairly loyal following. These companies are glad to team up with micro-influencers to collaborate with individuals like you who can share their content for a regulated commission. How this works is you share their content, your followers click on their links, and you get paid. It’s the pay-per-click system.
Connect and Collaborate
Sponsorships are a great opportunity for online monetization. When sponsored, brands will compensate you for posting about their product. This includes, but is not limited to reviews, testimonials, and product reviews. You become a brand ambassador to your target audience. Only 20% of influencers are offered sponsorship opportunities, but not to worry. Affiliate programs filled this gap!
Similar to a sponsorship, an affiliate program grants you the opportunity to earn money through product promotion. This is especially popular with fashion influencers. Brand affiliates will receive a percentage of sales made, usually through links posted on your social media platform. An insider secret is to choose affiliate programs that provide a recurring service. This way you’ll receive repeating payments when your audience continues to purchase from the brand. Keep in mind that the more you grow your social media following, the more these affiliations will help to fill your wallet. After you get in the groove of the affiliate lifestyle, make sure you take some time to analyze your post worth using Webfluential’s Influence Estimator to make sure you’re optimizing your earning capacity.
Now that you’ve learned all about the best options for social media use and profit, it looks like it’s time to get started strategizing. Happy monetizing!