A couple of years back, I made a purchase based on the recommendation of one of my Facebook friends. And I didn’t even realize that she is an influencer, and making money on social media. That’s how subtle the power of an influencer is.
Think of the popular chef, who used to share recipes on social media. Suddenly, you see him writing about essential products for your kitchen. All of those items have links back to Amazon. Each sale that comes from his post helps him make money.
You may see that your friend, who is a health enthusiast, is posting about a protein powder more often. I’ll bet you that she is an influencer making money on social media.
If you are reading this article, you are probably an influencer, or interested in becoming an influencer. And you’re wondering how to monetize your influence, or how to make more money on social media.
Keep reading to learn four of the best ways influencers can make money on social media.
1. Go Live
Go live on social media every now and then. Start interacting with your friends and followers. Share your valuable thoughts on a topic or provide tips on different issues.
Solve a problem if you can. And, of course, talk about those products or services you are getting paid to promote. Not to mention, always keep it relevant.
According to Daniel Danker, product director at Facebook, one out of every five videos on Facebook is Live. The amount of time people spend watching Live videos on Facebook has grown almost four times.
Now, you can make money in two ways. First, of course, the brand pays you when you mention them in your conversation and general discussions with your audience.
Second, when you are quite established as an influencer, you can arrange a pre-scheduled webinar or an online seminar. You can then charge a minimum fee from your audience to access the webinar.
Emmy Award winner Mario Armstrong’s groundbreaking Never Settle Show is an excellent example and great inspiration for Live interactive video.
2. Join Affiliate Programs
Amazon has a popular affiliate link program. The good thing about affiliate programs is that you can promote products without dedicating a whole article to each.
ClickBank affiliate marketing is another popular platform where you can find products to promote. There are many other affiliate programs available online such as Terra Leads, Wide Markets, Rakuten, ShareASale, and more.
You can add product links to your content and drive traffic to a certain website or product page.
For example, if you are talking about healthy smoothies for breakfast, you could share your thoughts about the Vitamix blender, which can come in handy for making smoothies. You can add the product page link where your readers can buy it from.
If the consumer makes a purchase following a link in your post, you get a share of the revenue. Brands and marketers can track the source where a visitor came from. If the person converts, you get money.
3. Post Sponsored Content
You can also post content which is sponsored by a brand based on your positioning as a social media influencer and the kind of audience you cater to.
You get paid either a flat amount for your effort or a percentage of the revenue depending on the deal you have with the brand. This is somewhat like being a brand ambassador.
Below is an example of sponsored content posted by lifestyle blogger and influencer, Kate La Vie. Note how strategically the Naked Juice is placed along with her outfit and accessories.
4. Get Revenue from Advertising
If you already have a blog, a website, or a YouTube channel, and it has considerable amount of traffic, Google AdWords and AdSense can help you monetize it by posting sidebar and banner ads on your website.
Your YouTube channel can earn revenue from programmatic ads. Ironically, these ads are getting blocked by the users every day and that gave birth to influencer marketing. However, many sites and blogs with higher traffic are still making revenue from advertising.
There’s Even More to Explore
Influencer marketing is very popular with brands and marketers, and is expected to continue increasing in popularity. In addition to the tips mentioned above, there are more ways you can make money as an influencer on social media.
You may create your own e-products like manuals, ebooks, DIY videos, or a diet or exercise guide. If you have creative skills like photography, graphic designing, etc., you could also monetize them by offering services or products related to your skills.
If you have any other ideas for making money on social media as an influencer, please share them in the comments below.