Statista reported that in 2017 alone, social media users spent about a cumulative total of 5.53 billion hours consuming content. This figure is an increase of 264% over the past five years. That aside, eMarketer.com reports that by 2020, social media promotion will account for 24% of the US economy’s overall digital expenditure. This translates to at least $37 billion annually. And this is a global trend, replicated across the world. In simple terms, social media presents a massive opportunity for marketers.
You don’t have to be an influencer, who has hundred thousands of followers, to cash on social media. Just by leveraging on the posts and the moderate following, anybody can make some decent side income from social media; they just have to learn how!
Still doubting your prospects of success on this new frontier? Let’s get into how to do it.
How to Cash Big on Social Media
Building a solid following
Social media influencers make money because they have a massive following. It is not to say you must have such fan base to earn from your account. However, you must have the people to interact with if somebody will use you to sell their products or carry out their campaigns. Your fan numbers is a key determinant in the success of social media campaign.
So does your audience engage you? By engaging you, I mean how they interact with your posts. Do they like, share or comment on the posts you make? If they don’t, then we first need to get them reacting to your posts, but if they do, let’s figure out how to profit off this influence.
Turn your audience on
Your posts will have most engagements if your audience can connect to your posts. Your followers are your fans, hence, you should impress them. If you consistently post what they don’t like, then probably they will leave. Thus, let’s learn how to create posts that can connect with your audience.
1. Get your Bio line in order
Your bio is a preface to who you are, what you do and what your audience should expect. It is advisable you make it simple and concise. The basic formula is who you are plus what you do plus standout personality.
Since the social accounts allow you to share a link on your bio, use it to promote your website or market your campaign.
Here are some interesting bio lines to motivate you and give you a hint of what I’m talking about:
Facebook Bio Lines
“Born to express, not to impress.”
“A politico, husband, father and tech-savvy content creator! HARSH TRUTH is better than FALSE HOPE!”
Twitter Bio lines
Digital marketing ninja. Social media wizard. I will maximize your ROI, minimize your CPL, and superglue your stickiness. For beer.
Don’t you just hate it when a sentence doesn’t end the way you octopus
Don’t follow me because I don’t even know where I’m going
Total computer geek. Married to a computer geek. Raising two future computer geeks.
- The best of me is yet to come.
- I’m jealous of my parents, I’ll never be able to have a kid as cool as theirs.
- God bless this hot mess!
2. Get the content right
The moment you step out of the closet to monetize your account, you must start managing your account professionally. Be careful with what you post. Every post has to serve a particular purpose and must not seem generic. For you to connect with your audience you must feel authentic. If your content is articles, write from your heart. That way you will be able to capture emotions.
You shouldn’t just report anything and everything you do. Be calculating and imagine the possible feedback. Suppose it was you reading the post, what would you say? And if you are targeting working for a specific brand, get a perfect blend for you, your followers and the brand. Pull the ingredients together such that you don’t sacrifice anything. It’s tricky but rewarding.
3. Space your content
The spray and pray technique, which often involves you posting multiple contents and hope that they will get a massive response no longer work. If you want the best results, space your articles well; it doesn’t make sense to litter your wall with unrelated posts.
The best approach is to make a post and give your audience time to respond to the post. You don’t want to bombard your audience with content every other minute, but you must not deprive them either. Take at least 30 minutes before making another post, but a two-hour break is a bit longer.
4. Post schedule
Different contents perform differently at different times of the day. It is important to know the pattern to get the best reception for your posts.
In the morning, human memory is at its optimum level when they wake up in the morning, but relatively low in the afternoon. It is however moderate in the evening. It then follows that the audience is alert and seek information in the morning. The desire of people to engage is also highest during these times. In short, long and consuming posts would rather be posted in the morning, while in the afternoon keep the posts shorter.
5. Boost posts
According to social media marketing experts, boosting posts may increase your revenues. However, it does not necessarily mean increasing boosting budget will increase gross profits. There is a point when increasing your promotional budget will not bring significant returns. You must thus strike a balance between boosting posts and post scheduling. Generally, boosting posts is works best in the afternoon, when your target audience experiences low working memory.
The best social media content strategy is derived from understanding why your audience engages with your content. There is an opportunity to get valuable attention if you can match your audience’s need for information with your content. Once you get their attention, monetizing your digital content will easily follow suit.
Monetize your content
Now that you have an engaged audience, you are ready to start benefiting from your hard work. Your social media accounts are your ways of getting people to listen to you. Now you can funnel your audience away and take them where you can actually earn money.
a. Become an affiliate
So what do your posts mostly talk about? What’s it that you wouldn’t go a day without mentioning? If you mostly post about devices, then an affiliate program would be a perfect shot for you. Like most women like posting about beauty, so it would be easy for such an account to become affiliates of firms in the fashion, beauty, or lifestyle industry.
An affiliate earns commission from sales that have originated from their social media pages or websites. They are not exactly influencers, but the roles may overlap. As an affiliate, your primary goal is to make sales for the brands you are affiliated to.
The best way to become an affiliate is to use your website or blog. Your social media account is a marketing front for your website or blog or business. Remember, every visitor your site from social media account is a possible conversion.
If you are wondering how to become an affiliate, it is simple, you apply. It is easier to find potential partners by working with third-party affiliate marketplaces, such as Amazon, ShopStyle Collective, Shopify, and Skimlinks. Here you can pick from a selection of partnering brands.
If you have chosen to become an affiliate marketer, there are unwritten rules you need to observe.
- Partner with products and brands you’d actually use.
- You are not a salesperson! You need to passively influence your audience to buy these products without telling them so. Consequently, aggressive sales pitches are a no-no!
- Having a sponsored post for your affiliate content can improve your desired results. But you must not promote a product in your every post. The affiliate content should blend into your feed along with your conventional content. Your readers must not feel like you are pushing them.
b. Market your business
In the recent past, many celebrities have used their fame to sell their products. For example, Alikiba, in his latest video, promotes his energy drink Morefire. He is simply using the massive support he has to promote his product. You can do the same with your social media following.
While best earning opportunities on social media involve working for other brands, you use the massive support you’ve to market your products. It is present you with an opportunity to grow your own sales.
Unlike affiliate marketing where you need use code into your posts, when working for your brand all you do is broadcast your products. You must, however, apply the same rules of affiliate marketing.
People will reach out to you to help them promote their events, products or agenda. The same way, you can collaborate with influencers to help you boost your numbers. Such collaborations, just like in music, are paid. If you grow to become a household name, other people can as well use your page to promote their products or activities. More collaboration means more money in the bank.
Social media is more than just an entertainment platform. It would make a great difference if you start looking at your Facebook, Instagram, and Twitter as a source of some extra income. An engaged following present you with an opportunity. All you have to do is identify where, exactly, your strength lies.