How to Monetize Your Social Media Followers
Created on 10 January, 2023 | 162 views | 7 minutes read
In this article we are going to be talking about some ways that people are monetizing their social media following
If you’ve ever thought to yourself, “I wish I could monetize my social media followers,” or, “I would make more money if only I had a way of turning my social media followers into an income stream of their own.” Well then have we got the list for you!
In this article we are going to be talking about some ways that people are monetizing their social media following. And trust us… there is no shortage of options out there.
This article is not going to be a guide to setting up a social media page, it’s not going to be an in-depth look at how to set up a Facebook page, and we are certainly not going to talk about how to use Twitter.
Instead, this article is going to focus on ways that you can monetize your online presence using your social media following. We will be looking at ways that people are turning their social media following into an income stream of some kind for themselves.
And, yes, our focus will be on the good old fashioned way of making money in a very old-fashioned manner. You see, creating an income stream from social media is not easy. It doesn’t happen overnight, and it takes time to establish yourself before you can start seeing any real revenue coming in from your social media following. The methods that we are about to talk about will take time and effort in order for them to work.
But there’s no question that you CAN make money doing all of this stuff! There are people out there who have succeeded in monetizing their social media following… and they’ve done by far more than just collecting their own money.
Further, the amount of money that they’ve made available for themselves is massive. So massive in fact, that it’s not something that a lot of people talk about.
Let’s have a look at how some people are turning their social media following into an income stream for themselves, and then let’s see what kinds of income streams can we create.
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PART 1 – THE REVENUE SOURCE
Continued traffic from your social media followers (or inbound links) can be a great way to make money. But this is only if you are able to sell your products and services to your customers. traffic from your social media followers (or inbound links) can be a great way to make money.
If you can do that, then here’s what you need to do:
Find out what it is that your customers want and start talking about it on your social media platform.
Don’t try and sell them anything just yet… but talk about the things that they want. For example, if they are interested in art – have some artists or artisans submit their work for free or at a discounted rate. If they’re interested in parenting – have parents submit their parenting hacks or tips for solving problems with kids etc.
Remember, you are building an audience for your page. And that audience’s goal is to consume the content that you provide for them. You don’t want your followers to be bombarded with promotional material, but that shouldn’t stop you from mentioning what it is that you sell and, more importantly, why it’s a good buy.
And when people start clicking on your links and buying from you – make sure that they know about it! Because word of mouth can become advertisement in its own right.
There are a lot of different ways to monetize through traffic… we’ll get more into them later in this article.
PART 2 – HOW TO MONETIZE YOUR SOCIAL PRESENCE
CREATE A PRODUCT OR SERVICE
A product or a service is basically something that you can sell to people. It is similar to advertising in that it gives you a way to make money through sales, but it is also similar in that you can work towards bigger and better revenue streams from a service or product.
It can be anything – even a book or any kind of writing project (be careful though! because the US government prohibits self-publishing on social media…). And as mentioned above, we are going to look at promoting products and services on your social media page later in this article.
In order to create a product or service you will need to:
Do your research, identify your target customers and what they want Create a product (in the case of services, this can be you or someone – so this is optional).
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The obvious way of making money from social media is to sell products and services to your own customers. This will require the development and promotion of products that you can offer on your page. But because these are your own products, there’s only so much you can do for promotion.The obvious way of making money from social media is to sell products and services to your own customers. This will require the development and promotion of products that you can offer on your page. But because these are your own products, there’s only so much you can do for promotion.
Most people who are selling their own products or services on Facebook don’t rely on traffic alone to generate sales. They’re using a variety of methods to help them make more money from their page.
ADVERTISING or SPONSORED POSTS
This is when you (or a business that you work with) pay to advertise your product or service on accounts like Facebook, YouTube or Twitter. This kind of advertising can be a good way of starting up to promote your business online.
But it doesn’t necessarily have to be just for start-ups. It could also be for established businesses that are having trouble getting the word out about an existing product or service.
Running ads through social media platforms is very flexible in terms of sponsored posts and promotion on the internet. And this means that you can get in front of different audiences based on who they are and what they’re interested in.
The last thing I want to mention here is having a side project which either goes on your own website or that you create a separate one for. You could do this if you wanted to make income from recommendations and reviews, or just produce content that people would be willing to pay for… (Please note that the US government does not allow self-publishing on social media, so there would be some extra hurdles with this).
Recommended: How To Make Money With Instagram – You’ve Got The Power To Make Money From A Photo A Day!
How Does That Work?
…You post something on a social media platform, promoting your service or product. Then (and this is the important part) you ask the audience to follow a link with their email address in the ‘URL’ part.
When they click through and subscribe, you can either ask them to confirm their email address, or you do it automatically.
Once they’re confirmed, you’ll receive an email with all of their contact details. You can then use this information for whatever marketing purposes you want to… (you could even create a mailing list that goes straight into one of these software platforms like MailChimp).
The other option is to ask them to confirm via another social media platform, like Facebook or Twitter.
If you’re required to provide a confirmation email, use the following email template:
From: [Link To Profile] Subject: Subscriber Registration Confirmation – Hey [Name], I noticed that you followed our website/blog/etc… through one of my social media profiles. You can see this by navigating to MY PAGE > FOLLOWERS. If you’d like to be added as a subscriber, follow this link from your profile and confirm your subscription by clicking the link in the confirmation email that’s sent straight from my account (mine is author at address). If you don’t want to be a subscriber, that’s totally fine. Either way, thanks for following! [Name]
Now obviously there are going to be people who don’t want to subscribe or that won’t confirm their subscription… but let’s look at the other options… because today it is easier than ever before to get your followers interested in what you have to offer.
I hope this gave you a starting point on how to monetize your social presence. Be sure to be creative and explore these and other options to make money on social media.
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