The rise of the influencer has given birth to millions of people on the planet aiming to do similar. For some, it’s a side hustle with potential, while for others, it can turn into a lucrative full-time job. A successful social media push can result in someone affording a travel experience of a lifetime or putting down a deposit on a house. Put simply, the sums of money some social media accounts are pulling in is unbelievable.
For many people, the idea of making money on Instagram or TikTok is hugely appealing, given its convenience, too. The same smartphone devices we use on a daily basis to communicate with friends on WhatsApp or entertain ourselves with a selection of games on a real money casino can be used as money-making tools for social media. Many accounts online shoot footage on a Samsung device and capture images using a high-quality iPhone. Content is key for any social media account to gain traction, but the fact that everyone has a convenient opportunity right in the palm of their hands makes giving the world of social media entirely understandable.
While you’ll certainly need some luck along the way with a viral post or three, there are some simple steps you can take to maximise your earnings once the followers start rolling in. With that in mind, let’s take a look at some simple ways to make money on social media, be it on Instagram or TikTok.
Establish a paid membership scheme
For starters, once you’ve built up a solid following with some engaging content, creating another source of income with your followers via a membership platform like Patreon is a great way of adding an additional revenue stream. Even the likes of Twitter have recently added a “Super Follow” feature that charges followers for exclusive content via a subscription service. For this type of setup to be a success, the followers paying into a Patreon – or something similar – need to want to. As such, exclusive content that can’t be seen anywhere else is recommended. As always, content is key, but unique content is particularly important with a paid membership scheme.
Promote brands with affiliate programs
One of the most common ways people make money on social media is by partnering up with brands they love in the form of affiliate marketing programs. These programs give you instant content to promote and share with your thousands of followers.This type of relationship can be relatively easy to establish once you’ve built up a solid following, too, with many programs being accessible via an affiliate network that are open to applications. Popular options include Skimlinks, although there are plenty of reputable sites out there.
Find brands to directly partner with
Another excellent money-making opportunity is by partnering directly with suitable brands. Obviously, if you’re ranting and raving on a regular basis with bad language being used, then brands might be put off. But if your content matches with a particular brand’s strategy or messaging, then you could potentially form a fruitful relationship moving forward. Some influencers promote brands via video content, while others might share content in the form of a sponsored social media post.
Sell your own merchandise
Although this particular option can be a challenge, many online creators make most of their money from selling their own merchandise. With a dedicated and loyal following comes the desire for people to want to support you in any way possible. As such, purchasing merchandise is one way your followers can elevate you further. You can create your own shop on platforms like Teespring or Teemill.
