Learn The Various Ways To Make Money Online With Social Media
Did you know you can make money with social media accounts? Even if you did, we bet you haven't taken advantage of all of these methods to grow and monetize you digital assets with these tried and true methods.
Ways to Earn with Social Media Accounts
Not only can you make money with your social media accounts, you can earn a substantial income from the various ways to monetize them. You may have some accounts of your own just sitting around, and you may be surprised at the ways you can make money from them. Even if you are not a social media advocate, growing accounts to generate revenue from scratch has become anyone’s game – so long as you can keep consistency, optimize your monetization strategies religiously, and generate a positive ROI. This guide will navigate the various methods to organically grow and make money from your social media accounts.
Creating and Growing Your Social Media Accounts
A social media account is worth as much as its user engagement. This means that more followers, likes, comments, and engagement on your content equates to more potential for monetization for you or potential buyers. It’s up to you how you want to monetize the accounts, but first comes growing the accounts into something of value. To do this we need to start by obtaining the accounts, followed by growing them steadily with automation and boosting techniques.
Acquiring Social Media Accounts for Monetization
In the beginning phases, you have two options; buying premade accounts and growing them, or starting from scratch utilizing organic growth strategies. The former will cost more but take less time to get started. Creating an account from scratch necessitates time and patience as you naturally attract an audience with high relevance and engagements for your niche. Luckily this is the 21st century and the slow process of expanding can be assisted with automation software, effectively relieving the workload and allowing more time for managing multiple accounts.
Manual Organic Growth vs. Software Bot Automation
Manually engaging with your audience as an influencer or brand owner will always outperform automation software and bots to replicate the task. Sometimes however, the positives of social media automation come with their advantages and can outweigh the unscaleable methods of manually approaching your social media engagement strategies.
Tools for Growing Social Media Accounts
Now not all tools for social media automation may follow all guidelines of the platform they are supposed to be used for. This can lead to account bans, restrictions, and even shadow-banning where no one can see your posts. This isn’t to say you shouldn’t use them, but you must understand the fundamentals of working in these grey waters which aren’t limited to patience, due diligence in using proxies, and not overusing the bot.
Tools that are compliant with most platform’s terms and conditions include software like HootSuite Scheduler, Zerofox, and so on. While options may be limited in social media automation software like these, you can sleep safe at night knowing your accounts won’t be slammed by the ban hammer when you wake up in the morning.
Influencer Shoutouts for Quick Cash
It might not seem like it at first, but each and every post made on every account is gaining the attention of interested audience members. Each post is a billboard in a room full of people interested in what the billboard has to say. This is why influencers everywhere are tapping into the multi-million dollar industry of shoutouts where advertisers pay to have their chosen product influencers talk about, use, and display their products towards their highly engaged audience members. It’s no wonder why so many are learning to curate and grow their own cash generators in the form of social media shoutouts.
Using Shoutout Marketplace Platforms
Ever since the profitability of shoutouts became known so widely, startups everywhere began pitching up platforms for advertisers and influencers to come together and make deals happen. Marketplaces like Shoutcart and Vizified offer a quick and easy platform for those with influencer-status accounts to monetize their digital properties by selling shoutouts. You can also take advantage of these platforms for growing your own accounts by buying shoutouts on similar pages.
Manually Reaching Out to Relevant Influencers
Before shoutout marketplaces came into existence, it was standard for advertisers to reach out to influencers manually and negotiate terms for each shoutout. And this remains true, even today. Not only is it one of the quickest ways to find potential interested advertisers to find you, but accounts with large followings attract buyers interested in your niche.
This works for those of you interested in advertising your products or affiliate links, as well. Reaching out to niche-relevant influencers and offering a direct payment is a sure-fire way to generate conversions. A form of media buying, buying shoutouts as an advertiser can be equally as lucrative as developing accounts to monetize.
Monetization with Affiliates and Ecommerce Merch
Once you have grown your accounts with a highly interactive audience, you are left in a position to continue with monetizing the account yourself, or selling it outright for a lump sum. If you decide to continue with the monetization route then you are presented with a few options. Affiliate advertising, ecommerce dropshipping, and POD services are all potentialities when it comes to making money from your social accounts.
Social Media & Affiliate Programs
Affiliate programs (ie., Clickbank and Commission Junction) where you can earn a commission from each sale, are likely one of the easiest ways to create a profit from your social assets. This method requires no up-front costs on your part and can make logistical sense when starting with a low budget.
Direct-linking to your affiliate URLs may results in account bans and restrictions. If possible, direct any outbound links from your social media profiles to a landing page on your website, and from your website you can link to a cloaked affiliate link from your campaign.
Ecommerce with Custom Merch and POD
On the other hand, if you have a budget to begin creating your own product or brand, then you can expect higher margins for each product sold as compared to an affiliate program. Having highly enticing and niche-relevant designs on merchandise like tees, sweatshirts, and hoodies can go a long way when you’re trying to monetize an instagram account or facebook page. Remember that there are even options available for you to decrease the startup requirements for a merchandise brand. You can go with a print-on-demand service, which is if you’re familiar with dropshipping, a method in which the supplier will print and ship custom designs directly to your customers as if it were shipped from your own warehouse. Printify and Gelato are some such programs that can provide these capabilities and easily integrate into your social media monetization campaign. The disadvantage when working with a print-on-demand supplier is that they want a commission from each sale. That is – don’t be surprised when you see your margins nosedive as everyone wants their piece of the pie at the end of the day.
Buying Accounts to Sell for a Profit; Account Flipping
One of the most overseen ways to make money with influencer accounts is to buy and sell them for a profit. Benefit from high margin sales as you become the salesperson for the accounts. Acquire accounts on the cheap side and optimize them with higher quality images, better copywriting, and increased follower interaction.
Utilize account marketplaces and buy, sell, trade (BST) groups on facebook or niche forums to offload your accounts after buying them for less. As with flipping anything, whether it be social media accounts or antiques, you must buy low and sell for a high price. This can take patience and critical optimization, but with the right attitude, you can make a significant profit from flipping social media accounts.
Run a Social Media Management Business
Not wholly interested in creating accounts or flipping them? You can still make money with social media and it resides in the service side of the industry. If your expertise lies within relations, networking, and customer satisfaction, then starting an account management service business might be a solid approach to monetizing your skillset.
Running your business using the strategies mentioned in this guide, you can manage accounts for others who are trying equally passionately to gain a large following, but may not have the time or capacity to deal with such a task. This is where your professionalism and expertise comes in – Social media management can be a lucrative gig that you can charge a monthly fee for your clients to keep their accounts active. If you’re strong in creating quality content, engaging users, and optimizing social media accounts, then you will always have a solid footing in this field.