Social media is everywhere whether it is breaking stories in the news or in the news due to a celebrity making an insensitive comment. The fact that social media has such a large reach around the world can make those proficient at it quite a bit of money. Company social media accounts can be used to make a profit or even fund a marketing campaign. Those companies with quite a following on social media can fund their entire marketing department simply by earning money with every post. Making money from a company social media account has to be done with tact though as it can hurt a brand image if done incorrectly. The best practices for making money from company social media accounts are below.

Content Can Pay For Itself

Creating content that attracts traffic as well as leads helps the ROI for the content stay healthy. Those companies that create video content for social media, YouTube and other platforms can make the money back via the traffic the video garners. A marketing department that has the ability to create content that draws enough traffic to cover the content creation fee will have a budget to utilize elsewhere. The worst thing that can be done is to create content and pay for it when it is generic. Generic content used to be able to convert but in today’s world, consumers are pickier about the content they engage with as the market has been saturated with content.

Don’t Promote Garbage or Low-Quality Businesses

One problem that a company can run into is partnering with a product or brand that simply is of poor quality. No amount of money is worth compromising the trust of followers who some of which are current customers. Do the appropriate research before partnering with another brand and ask for product samples. Telling a potential partner that the company cannot work with them due to the quality of their product or work needs to be done with tact. The relationship could be beneficial if the company improves their quality of work. One tactic could be to let them know the company is suspending sponsored posts for a while to work on its own social media marketing strategy.

YouTube Partner Program

YouTube can be the perfect platform for a company account to start earning nearly immediately. Being able to put together great video content that helps educate consumers can give the company a huge return financially. Great pieces of content are thought-provoking but also teach the reader which can be done through a series of tutorials. This could be something as simple as best practices for WordPress based sites or something a little more complicated like how to set up a successful PPC program. Becoming an industry thought leader via YouTube videos allows a company to increase brand exposure as well as sales. Those companies that dedicate themselves to educating consumers also gain the trust of consumers. Selling paid promotions in the introduction or conclusion of the video is another way to generate income. Make the company an influencer on YouTube and watch the offers for paid ads pile up! Start attracting new YouTube subscribers to begin earning on this platform as soon as possible.

Free Form of Advertising

Social media being free allows a company to get a return when they have invested little to no money. Any sales that are generated only have the overhead of the person who is paid to manage the account or a contractor that handles the social media content themselves. Setting up a publishing schedule that is in line with the best times of the day for engagement for a specific account will help expand the reach even more.

Partnering With Influencers

Influencers have the ability to make a brand thousands of dollars from one post. Even something as simple as allowing an influencer to take over the social media accounts of the company for the day can make a huge difference. Expanding the potential customer demographic to the network that the influencer has can help convert in sales. For a digital marketing firm, the company could offer to help promote the brand of the influencer as a form of payment. The right influencers will make it easier than ever to sell products via social media as some influencers have a large amount of trust from the follower community that they have formed. For those e-commerce businesses, it can be extremely profitable to have an influencer promote a product that is not selling. This will help target the weak areas of product sales with nearly guaranteed conversions.

A company can really help their bottom line if they use their social media accounts as another form of revenue producing. Do not tarnish the brand’s name in any way to do this as the products and services of the company are the main revenue generator.