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How to Monetize Social Media: 6 Helpful Tips

Anyone can monetize fame. People with as little as one thousand followers on social media can become appealing to brands eager to utilize the reach of influencers. There are many ways in which influencers can rake in cash and this blog will walk you through each opportunity that we feel is most effective.

Know your audience

This part requires a fair bit of experimentation on your end and varies depending on what specific social media platform you experience the most success with. Take a look at your posts – which ones receive the most likes? Is there a common theme? What sorts of people already follow you? Is there one particular characteristic that your followers tend to have? Most of your followers are people you have never met – what first attracted them to your profile and what do you think captured their interest? What is it about your posts that keep them following you? Whatever captures their interest, do more of it!

Sell Access to your audience

Companies more frequently than ever hire influencers to disseminate information about their products. If you have several thousand followers, you could have started a partnership with a company way before you reached that threshold. Message brands you love first, especially if you already feature their products casually in your various posts. Just because a brand hasn’t already messaged you, doesn’t imply a lack of interest.

Discuss your most interesting posts

It only takes a second to put an interesting tweet on your Instagram story. Posting an Instagram picture on Twitter doubles the impact of a post and gives more of your followers access to your posts. People rarely use just one social media platform. If you have a Twitter, you probably have Snapchat. If you have Instagram, you probably have a Facebook account. Connecting your network of accounts helps to grow your followers across platforms. Taking one post and distributing it widely makes your account more active and thus, worthy of additional followers’ attention. Brands love influencers because they have incredibly engaged audiences and as a result can have more of an impact than athletes and TV stars since influencers are more relatable. If you join something called an affiliate program, companies will send you cash if you attach a link to a product. Such programs aren’t very difficult to find.

Build your own personal brand

One influencer, Roy Purdy, rose to fame simply by wearing flamboyant glasses, skateboarding, and dancing to music. While this may sound far fetched, it goes to show that once you create something unique that resonates with people, the product begins to market itself. Hundreds of people see the item when the owner uses it. A lot fewer will ask about it, but occasionally some will not only ask about it but have an interest in purchasing it. However, be careful not to turn your page into one big sales pitch. When combining your posts with products, it’s smart to follow the 60-30-10 strategy. 60% of your content should be free of marketing, 30% of content should be shared from other sources and 10% of what you post may be sales-oriented. In other words, post frequently.

Use Videos Carefully

If you don’t have a YouTube channel, take a moment to think about whether your own personal brand could benefit from the use of videos. Would your followers want to watch the videos you create? If you create videos, here are some essential tips and tricks to implement asap: Make your video as irresistible as possible. Create some mystery. Come up with a title that answers questions your fans never even realized they had. If they click, you win! You can also contribute to the massive e-learning industry that is expected to grow into a $325 billion market by 2025. If you’re an exceptional cook, there’s your opportunity. If you sell something, be aware that receiving money doesn’t have to be complicated. Amazon can transport your products effortlessly and the Facebook marketplace makes your products accessible to anyone in the country.

Manage your earnings

Most influencers don’t see the point in investing their earnings in order to expand what they have. They often focus on obtaining more sponsorships, making more posts, planning events, etc. But what’s the point of earning money if you’re not going to allow it to passively grow? Maximizing your returns can give you an extra vacation or allow you to post about what you love rather than what you’re paid to promote. The only thing predictable about life is its unpredictability. Influencers can lose thousands of followers in mere seconds, but it takes years for them to gain them in the first place.

Expecting the unexpected is an unavoidable part of life as a social media influencer. Drama can rapidly change not only your followers but your revenue stream, if you sell personalized merchandise. Brands can drop their influencers whenever they feel like it – there are always others willing to do more for less. As social media continues to evolve, focus on investment opportunities that will develop with it by investing in the ‘Demand Social’ portfolio. Need a bit more personalized help? Schedule a video call with a Demand Wealth financial advisor today.

…..So what are you waiting for? Turn your ambitions into your career. Monetize your social media and get paid!

 

This report is a publication of Demand Wealth. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change.

 

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