Michael Wight — January 30, 2017 Social media is bigger than ever. According to Dec. 2016 figures, 19.96 billion people use social media platforms around the world, and the number is expected to reach 2.5 billion by the end of 2018.
The number of internet users is on a constant rise, and around 78% of all Americans who use the internet have at least one social media profile. This shows the power of social media.
People use social media platforms for a number of reasons. Some use social media to stay in touch with friends while some use it to get access to news and latest happenings. However, according to new reports, a large portion of users are using social media to make money online.
Look at any article on making money online, and you’ll see tips on using your social media profile to make a living. But, is it really possible? The internet is full of success stories, but at the same time the failure rate is pretty high as well. So, can you really make money by using your social media profile? One word answer to this question would be a – yes.
But, remember that it is easier said than done. You need a solid social media presence to be able to make a decent amount of money by using your social media profile. It’s all about how big you are or how many followers you have. The more the better.
How you make money through your social media platform depends largely on the platform you’re using. For example, YouTube allows you to monetize your channel. This way you can make money on the number of views and clicks you get. However, not every social media platform allows monetization. Facebook, for example, has no such policy. So how do you earn through Facebook and other such tools? You do it by advertising other businesses. You also have the option to sell your own products via social media. For example, Pinterest is dominantly used by females who are 70% likely to purchase a product if it comes with details including prices and high quality image.
Once you have a high number of followers, you can get in touch with companies to advertise on your platform.
Now think of this situation. You run a fashion related channel and have a million users. According to analytics, most of your users are females living in the US. Now this is a solid number which you can use to entice potential advertisers.
In this scenario, you can get in touch with fashion labels and push them to buy space on your page. You will have to show them the benefits of advertising on your page.
For your proposal to be considered, you must put in real numbers and the advantages of advertising on your platform. Show people how you can help them reach one million users, and how many of these users would actually be interested in buying their product or services. It’s all about ROI, so calculate the expected returns and attract people to your page.
This is actually a lot of work. A few things you should remember include:
- Do not buy fake likes or profiles. If your followers are not active, you would find it difficult to win advertisers.
- Target interested clients. Look for people in the same niche as yours to increase your chances of getting advertisers.
Once you have found potential advertisers, you must reach to them and decide on a plan. Think about how you’d promote their services or products. Some options include:
- Reviewing their offerings.
- Sharing an image related to their business.
- Mentioning their business casually in one of your videos etc.
Donald Trump, for example, often mentions businesses on his Twitter handle. Kim Kardashian on the other hand mention brands by name on Instagram. She is said to make $ 75,000 per paid Instagram post. You can also make such a big amount if you are able to garner such a large fan following. Present yourself as an internet celebrity and build a following, and you will have companies contacting you on their own to advertise their services or products on your page.
Social media experts are earning as much as $ 915,000 just by working on their social media profiles. But remember, it takes time and patience to build a profile that pays you back. So do not hesitate in investing your energy into your social media page and you will soon be laughing all the way back to the bank.
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