How can I make money on Social Media?
The first thing to know about social media is that it is vast with many people using the huge selection of platforms so success is not something that will come to you easily, just like appearing in number one spot on Google is practically impossible for most businesses.
How can you make money needs to be clearly defined as a question – Are you looking at being paid for being on social media are you looking to make money from your time and effort by directing interest from potential clients through to your capture website?
“Stars like Kim Kardashian (American television personality, fashion designer, model, and actress) are still routinely paid five figures for a single tweet promoting a product /brand on their Twitter account which currently has 18.5 million followers.”
It is important to understand the core element of successful social media management campaigns such as having professional and complete accounts, knowing when your target audience is active and which platform they use. Remember to be active regularly and deliver educational, entertaining and engaging content.
Make money from social media by accumulating a large target audience to allow you to market other people’s products and services. For those on social media who have, over a period of time, built a large and active following or members within their groups, the opportunity to sell direct marketing slots has really increased in popularity. Just like the ‘Kim Kardashian’ example above, if you control a large target audience you have the possibility of selling to others Tweets or posts, just like newspapers, radio, television sells advertising spots to their large audiences. For instance you may own a group of 50,000 members on Facebook dedicated to UK wines so you would be in a position to offer out to the likes of major UK wine distributors such as Oddbins or Majestic to promote their latest promotions on there.
The other way that people are making money from social media is by building active audiences whom they engage with to drive through traffic to their website – With many online businesses their success is determined by quality website traffic converting in to sales. Though social media would be seen as an indirect influence on earning money, it is still an important part of delivering your monthly sales.
You need to decide whether your social media is a direct ad space selling business or as a way to speak to your fans or promote your business promotions and offers.