This is a detailed guide on how to make money on social media.
Social media has been defined by some experts as a means to connect with people.
As much as I agree with this, I still do believe in something greater about social media.
Which is its money-making Strength.
Social media gives you access to connect with people, as great as thousands of them in number. Right?
Don’t you think it will be unwise if you have this connection with thousands of people or more and fail to leverage on it to upscale your income?
Given that you can easily do with less stress.
You are about to learn just how to leverage your social media to increase your income capacity.
People do ask varying questions like which social media is best for making money.
How much money can I make on social media?
How many followers do I need on social media to make money?
I will guide you through all these in this article. Your part is to pay attention.
Can You Truly Make Money On Social Media?
Absolutely yes! Else, I wouldn’t have bothered to write this post.
Here is why.
Social Media gives you the freedom to socialize with your followers on your social media pages.
If you have built a level of trust with them through your existing relationship, they would trust your recommendations and will help you make more money.
How much money can you make on social media?
This is like trying to find out how much money a business can fetch you.
It is absolutely unlimited!
You can earn as much as possible on social media.
No range is too much to attain. Just get it right and you’re good to go.
How Many Followers Do You Need To Make Money On Social Media?
This question put in another form could also be “Do you need too many followers before you can make more money”?
As an answer to both questions,
It is not a must to have too many followers before you can start earning on social media.
It is more important to have quality followers than having them in just quantity.
Know your followers
Do you have their majority as youths between 18 and 30years?
Or do you have a majority of women?
Or you’re majorly followed by people in a particular geographical zone?
An understanding of who your audience is and what they want will propel you in the right direction of getting the quality out of them.
Rather than looking out for more unyielding quantity.
Which Social Media Is Best For Making Money?
Absolutely all social media pages can fetch you income.
Your income is not determined by the social media page.
It is rather dependent on your content – what you have to offer to your prospective clients.
Because all you need is the connection with people who will eventually become your clients.
And every Social Media will give you that.
Related: Top 10 Best Ways to Make Money Online
How Can You Make Money On Social Media?
Below are the steps to make money on Social Media.
1. Define your niche
There are several business ideas you could venture into.
But you can’t possibly venture into every business. Hence, the need for defining your niche.
What Is A Niche?
A niche is simply an area of specialization.
One thing that will help you in deciding this is your target audience.
Do you want to help high school leavers with their project works?
Or you want to target women, ladies, or children?
Your specialization will be a strong driving force.
Another thing that can help you decide your niche is to streamline your product or services.
For example, in the project work, you can target the medical field or work with engineering students based on what knowledge you have.
Being general-purpose personnel may not be too helpful.
2. Be Sure The Idea Of Your Niche Is Valid
Still on the project writing example.
Can you get enough people online that are willing to pay for this service?
Do we have students who even see this as a problem and really need your service?
So you should be sure your idea of niche is a valid one.
To verify if there’s enough demand for your niche, you can make research online about it.
Or research about competing Products and services online to help you choose a valid niche.
3. Decide On Your Marketing Strategy
If you have settled for your preferred niche.
And have validated your niche which gives you a target audience.
How do you want to relate to them?
Do you want to sell products and get paid?
Or you want to offer a service?
Or you want to leverage on other people’s businesses?
Strategy 1: Leveraging On Other People’s Business
This can be achieved through Affiliate Marketing.
In Affiliate Marketing, you promote the products of a company via your handles.
When your followers, because they trust you, visits the company via the link you shared, you’ll receive a commission on every product they buy.
In the same way, you can share sponsored posts to promote a particular company or Product.
This differs from affiliate marketing in the sense that you get paid for sharing the sponsored posts.
The aim now is to get more people to reach their Company. So you don’t wait till your followers buy before you’re paid for sharing sponsored posts.
Strategy 2: Offering A Service
Here, you solve a problem for some people and get paid in return.
It could be a writing Service, coaching, social media management, and so on.
Strategy 3: Sell Products
This will have you market your own goods to your Followers and make money from their patronage.
4. Choose A Suitable Social Media Page
Just as you need to settle for a desired niche, you need to pick the best social media handle for such a niche.
In deciding this you need to consider one or both of these two things:
Where is the online location of your target audience?
Where can you find people that are in need of the service you offer? Facebook, Whatsapp, Instagram, Pinterest, or YouTube?
You should take your service to the online doorstep of your target audience.
What Type Of Post Do You Want To Share?
If you would be sharing promotional videos, for example, you’ll agree with me that the YouTube channel would favor you more.
Yes because some other channels may not take longer videos.
If you would be promoting photography, for example, you’ll be posting more pictures and YouTube would not be the best option here.
Instagram and Pinterest would do better in promoting your work.
So you need to carefully select what your priority is.
The niche, the suitable mode of promotion (e.g videos, pictures, or audios), and the location of the target audience are interdependent.
Note that using one social media handle does not mean you can’t use another.
You can still make use of other platforms after deciding on your most suitable one.
5. Make Your Profile Speak Value
Your online profile is like a physical résumé.
Your résumé serves the purpose of showcasing what skills you have and what problems you can handle.
In the same manner, your online profile speaks volumes about your personality.
Your picture, your username, your bio-data, and everything about your profile gives a sense of who you are and what your business is.
You wouldn’t want to turn off your clients with an unprofessional profile.
How To Create A Value-Speaking Profile
Use a professional username.
Avoid using irrelevant acronyms or variations of your name. Your real name may be okay most times.
Use a professional profile picture.
Use your bio to attract your followers. Let it talk about what you will offer them.
Talk about what makes you different and also provide other means of reaching you.
Ways To Implement This Knowledge
Below is an overview of ways to use these strategies to make money on social media.
1. Affiliate Marketing
I have mentioned this earlier. Again, it involves promoting products from other companies to get paid when your followers buy through your link.
There are many affiliate marketing programs to get started with, check out some of the best affiliate programs here.
2. Sharing sponsored post
This has been discussed earlier as well. You share some sponsored posts to promote companies and get paid in return.
3. Create and promote information Products
This can be ebooks on specific topics, mp3 files, or video content to solve a particular problem in society.
You can have a variety of such Products.
4. Promote your crafts with visual modes
If you’re a fashion designer, you can promote your services by posting videos of your works online.
It works for every profession. you could be an artist, a musician, etc.
5. Promote your coaching or consulting services
That is all on how to make money on social media.
Hope this was helpful?