There are more money-making opportunities on social media than you might realize. Social media, in fact, can be quite lucrative.
Many experts say that social media is for connecting with people, and not for selling, but at some point, you’re going to want to leverage the connections you create. If you’ve built up enough trust with your followers, they’ll be more inclined to check out your recommendations and the links you share.
1. Promote affiliate products
No matter what industry you’re in, you can find great products to promote. And if that doesn’t quite jive with you, you can also become an Amazon Associate, promote products of your choosing and earn commissions on them – Amazon has no shortage of products. Locally there are online retailers like Jumia and Kilimall for whom you can be an affiliate.
2. Create and promote your own information products
If you already have a blog, and you’ve demonstrated your expertise on a specific subject over a period of time, there may be an opportunity to create an e-book, audio program or video course and sell it to your audience. Social media is the perfect place to promote such a product.
3. Promote products and services
There are many opportunities for you to share sponsored posts that promote the products and services of other businesses. This is a very direct way of earning money from social media.
4. Use visual media to promote your crafts
If you tend to create handmade crafts, art pieces, or even articles of clothing and knitting, there may be an opportunity to showcase your products on social media. Instagram and Pinterest may seem like obvious places to hit, but Facebook, Twitter and Google+ are also great channels for sharing visual media.
5. Promote your coaching or consulting services
Social media is a great place to generate leads for your consulting business. Whether you’re a guitar teacher or a life coach, if you have demonstrated expertise in a specific area, you can create more interest for your services by connecting with your target customer on social media.
6. Join the YouTube Partner Program
Building a popular YouTube channel can be a lot of work. But if you already have a following, or you’re determined to build your audience, joining the YouTube Partner Program to make money on advertising might be a path worth exploring.
There are prominent YouTube content creators who have made substantial amounts of money with this program, but they are the exception rather than the rule. It would take a lot of time, strategy and sheer luck to make money on YouTube. However, this is a good thing to keep in mind with advertising in general. Unless you’re already getting a lot of views and clicks, you’re not going to make a lot of money on them.
[ Adapted from entrepreneur ]
