How to make money on Social Media?

WHAT IS SOCIAL MEDIA NETWORK?

Social media network is an online platform which allows people to get connected with each other.

WHO CAN START THIS?

Social media is a place to meet new people. As you are getting new people, therefore, it is an opportunity to sell your product to them or at least show them something and get some rewards for your efforts.

REQUIRED SKILLS?

Ability to socialize online and make people interested in your topics.

WHERE TO BEGIN?

Some social network like Facebook is an open platform where people with an interest can join but they have the option to get connected with people of similar interest. While other social media platforms are for people with certain interest like ResearchGate is for researchers. If you want to earn money from the social network then most important thing is to get connected to as many people as possible. At the same time, you should be cautious in your effort as if you want to sell toothbrush than there is no logic in putting your efforts in getting people looking for purchasing a car. You will find more people in largest social networks but you need to make your own niche and getting connected to right people is the key. However, there are many social networks which are focussed on certain interest groups like music lovers, artists, researchers, etc. Sometimes, it is easier to get your clients and customers in smaller network compared to spending lots of time in shortlisting right people in major social networks.

ADVANCED STRATEGIES AND TIPS

Following is the list of major social media networks.

If you are using any of these networks then you can monetize your social activities.

1. Steemit
2. Facebook
3. Twitter
4. Instagram
5. LinkedIn
6. Google+
7. YouTube
8. Flickr
9. Pinterest
10. Reddit
11. Vine
12. Tumblr
13. Myspace
14. Snapchat
15. Meetup
16. Flixster
17. Foursquare
18. Classmates.com
19. BlackPlanet
20. Gaia Online
21. Fotolog
22. Experience Project
23. Fotki
24. Friendster
25. hi5
26. Care2
27. Couchsurfing
28. Bebo
29. Periscope
30. Delicious
31. WhatsApp
32. Quora
33. Periscope
34. BizSugar
35. StumbleUpon
36. Digg
37. Viber
38. Medium
39. SoundCloud
40. Blab
41. Ask.fm
42. VK
43. Wechat
44. Skype
45. Tagged
46. The Dots
47. Skyrock
48. Viadeo
49. Xing
50. We Heart It
51. Buzznet
52. Tout

Some of the above networks are very popular while others have a very targeted audience so all networks have their own benefits and drawbacks.

CAUTION

Social media networks can be very addictive and you may lose track if you are not focused. It is very easy to get distracted. Your social media activities should be well thought.

WAYS TO MONETIZE?

There is a number of ways to monetize your social activities.

If you have the huge list of followers on any social media account, group or page then this can be a source of good income. Following are the different ways by which such people can earn extra cash.

1. Content is king: Steemit is the best way to earn on social media if you can write something which many people are interested in. This doesn't mean you should have a favorite topic but your writing should add some value to the knowledge of the readers. A popular niche is always considered as a good start point but there is always a strong competition in the popular niche. So choose a special niche which interests you and write something great. People will follow you and upvote your writing. You will be paid as more and more people show interest in your content. So content is king.
2. Sponsorship: This is the long-term association between the social account holders and brands. The account holders can be treated as brand ambassadors who advertise the brand to its followers through post or podcast.
3. Advertisements: Advertisements can be short term and long term. This is a way when brands or advertisers give some money to such social account holders for displaying their advertisement on their account. Long-term display of advertisements can be treated as sponsorship.
4. Selling products: If you have the eCommerce store then you can redirect your followers to your store website to buy your products.
5. Promoting services: Just like products you can use social media to advertise your services. Those services can be online or offline. An example of services: logo creation, photo editing, SEO services, article writing etc.
6. Affiliate links: Almost all social media allows adding the post with links. Most of the major eCommerce retailers like Amazon, eBay etc allow affiliates to use product link and display at any place to redirect people to their store to purchase those products. You can redirect your followers to these products. If they purchase those products through your affiliate links then you will earn the fixed commission (4%-10%).
7. Advertise yourself: If you are an artist, writer etc you can use social media to enhance your visibility and reach. Most celebrities are also using social accounts like Twitter to connect with their followers.
8. Sale your account: If you have huge followers then you can sell your account/group/page to somebody.
9. Shopify: You can convert your Facebook page to an online shop to sell products.
10. YouTube Partner Program: Good way to monetize your YouTube channel.

If some of you guys are interested in knowing more about the available monetization tools then please reply me in the comment section below.

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