But how do you start with that: making money with social media? Which platforms are the easiest, what is the best strategy, and how many followers do you need? These are the things I will go over in this article.
Social media is one of the best methods to build a passive income, but how do you start? Here are five ways to monetize social media.
Make money with Affiliate marketing
No matter which niche market your social media account is in, you are sure to find a product that you can promote to your followers. You can easily do this through Affiliate marketing.
It is best only to use products or services directly linked to your niche and that you use continuously.
For example, this blog is about e-commerce, social media marketing, and other forms of making money online. For example, when I write an article about setting up a webshop, I immediately add my personalized Shopify link. Shopify is a service that I use every day to set up web shops for myself and my customers. When the reader uses this link, I get a small compensation.
It won’t make me rich right away, but it’s a nice bonus for a service that I write about continuously.
Make money with Social media promotions
Social media influencers with a high number of followers can earn a lot of money from paid promotions when a company comes to you to sponsor one of its products through a paid advertisement. Often a product is sent that you can review, promote, or wear.
This form of earning money with social media is most common on Instagram, but YouTube and TikTok are also well known.
I have worked with micro-influencers with as few as 10,000 followers on Instagram, so you certainly don’t need to have millions of followers to make money with it.
Earn money with your Webshop
Before you think I’m crazy, making money with a webshop can be easier than you might think. There are other options on the market to start a webshop cheaply and many options to find products.
Are there certain products within your niche that solve a problem, and maybe you can start selling? You can quickly get started with drop shipping.
Or maybe you are very creative and make your art? Then you can use print on demand to put your designs on t-shirts, posters, and phone cases and promote them online.
Earn money with Coaching or consulting
Do you have expertise in an area? You can earn money with this through coaching or consulting!
Do you show your singing talents on YouTube? Maybe you have an Instagram feed where you show your cooking skills? Or perhaps you have the capabilities to become a life coach?
Here too you can earn money by offering. It is consulting services on your social media channels.
Earn money with an Online video course or E-book
In addition to money with coaching or consulting, you can also start selling information within your area of expertise in an online e-book or video course.
There are many programs available that can help you:
- Udemy: With Udemy, you can upload and sell your video course
- Gumroad: On Gumroad, you can sell your E-book, music, or course.
- Amazon KDP: Through Amazon KDP, you can publish your eBook and make it available on the kindle bookstore
Conclusion
So, there are many ways to monetize social media, and you don’t need to have hundreds of thousands of followers for each one. With a small community of 10,000 followers, you can earn a lot of money in a micro-niche with paid promotions, opening a webshop, or promoting through affiliate marketing.
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