There’s no doubt about it – social media has revolutionized communication. There are so many different channels today, each of them catering to a different style of communication or audience demographic. No wonder that it can often be difficult to know where you should devote your time and effort. But if you’re in the business of generating revenues, you certainly need to know how to monetize social media channels so that you can get a good return on investment for your time. Can you make money from social media, and if so, how? What about bio link tools like linktree?
To begin with, please understand that this may take some time and effort. You will need to show that you are in it for the long haul and focus on your particular message, regardless of the sector or channel in question. Once you start to build up a good following, the recognition will follow, and you will then need to focus on conversions. Eventually, those followers will become prospects and customers. But before you roll your sleeves up, you need to know what makes them tick.
How do you monetize social media?
Begin with the basics.
If you have any knowledge of marketing circles, you may have heard of the “customer avatar.” This is another name for a persona, and it is a description of your ideal prospect. Why is this important? You won’t be able to sell your particular solution to everyone, and if you try to do so, you are likely to fail.
- Source: How to Build a Customer Persona by GetCloudApp
Instead, you need to be crystal clear about your customer avatar and know why they are likely to purchase from you. When you consider their age, demographic, sex, interests, financial capability, and other factors, you can quickly determine where they are likely to congregate. Do some research online to help you fine-tune and devote all your efforts to the right platform.
Make sure that you deliver content that is interesting, educational, entertaining, or informative. This policy will help cement your authority and make sure that people follow or friend you appropriately. Slowly build up your social media content and following to establish credibility. The ultimate objective may be to become a social media influencer, and if you get there, this will certainly open additional doors when it comes to monetizing your efforts. Influencers can easily grow their following exponentially and can reach out to other organizations. They may be interested in “tapping in” to your followers for an agreed remuneration.
- Source: Why Your Content Needs to Be Aligned With Your Buyers’ Journey by Hubspot
Be consistent. The social media world can be very fickle, and people will easily forget about you if you are not there. You certainly need to post daily, at least if you are going to remain credible and be seen as reliable.
Interact with your followers. If somebody takes the time to comment, you should reply and even if the comment is negative. Don’t be afraid of controversy, but manage it carefully. Remember that the channel owners often have algorithms that view any interaction as positive, which may help with your profile views.
- Source: Content Distribution: A Basic Primer by Outbrain
You may not need to create all of your posted content. Just remember that most of your content should be valuable and not sales-oriented. You can find good content by searching online through resources that are specific to your niche or provided by businesses that are not necessarily a competitor. Share valuable content and, occasionally, post something that is directly sales-oriented. As a rule of thumb, restrict your sales-related posts to no more than 10 percent of your total communication.
Now that you understand the basics, you need to figure out if you can make money from social media channels like Facebook or Instagram.
Using Facebook and Instagram
- source: digitalnewsreport.org
Facebook lets you set up an online store once you have first established a business page. It’s quite easy to do, and if you have a range of products, you can organize them into separate categories and use the platform to monitor your sales. Remember, you do not have to pay for a range of promotional products in advance these days as you can take advantage of drop shipping. This type of service is offered by a large number of companies online. You will simply need to set up your account, choose the clothing, accessories, or other items, and wait for somebody to buy. There is no need to maintain an inventory, as the company will simply print and ship the item once you have received the payment.
If you sell any kind of product or service online through a company website, you know how important social proof is. People will look for testimonials to prove that what you are saying is believable, and you can certainly use your social media channels to generate that feedback. When you do receive some great written or video testimonials, post them on your social media channels. This is a great way to generate more buzz and conversation and to encourage other people to buy from you.
For example, Instagram has the option to create a mobile shop front to tag any products, but you may want to direct traffic to your other online profiles, and here, there is a specific trick of the trade.
As you may know, Instagram only provides you with one place to display a link in your bio. You can’t put any clickable links in any posts directly, so you should use a tool like Linktree to take full advantage of the limited space.
When you sign up for the service, you’ll be provided with a web page to display all of your relevant links. Use these links creatively so that they connect with your other social media accounts and hottest blog posts. Then, people who engage with your Instagram channel can not only find out much more about you, your product, or service but can buy from one of your Linktree links.
How can even make money from your Instagram account. As you probably know, this is one of the hottest social media platforms today and is growing exponentially. You can use your following to monetize either directly or indirectly.
For many followers do you need to get paid?
If you search online, you will come up with various answers to this question, and it will all depend on your platform and monetization strategy. As an example, this resource suggests that you can begin to generate money or Instagram with as few as 1000 followers.
Making a start
There are many other ways to make money from social media, including affiliate marketing, pay-per-view click, and so on. The key is consistency – so choose one method and roll it out to assess your results.