How To Make Money With Social Media
There’s this common idea that making money with social media is only reserved for the rich and famous, or those that already have a big following. But the truth is, anyone can do it. Just like anything worth having in life, if you’re willing to put in the work for it, you can have it.
And the best thing about social media is you’re probably already using it in your daily life. So why not learn how to make an income from it?
Facebook alone currently has over 2 billion monthly active users and Instagram is catching up with almost 1 billion users. Think about what you could do if you learnt how to leverage that kind of audience effectively.
Here’s the good news: making money with social media doesn’t have to be difficult. If you follow the right strategy you can actually build a very rewarding business no matter what level you’re starting at.
Let’s talk about some habits every successful social media entrepreneur implements into their marketing strategy.
- Building Personal Trust
Always remember, you are your brand. No matter what you might be promoting, it’s a personal connection people are looking for.
They need to feel comfortable with you if they’re going to commit to working with you so it’s important to know who you are and why you’re doing what you’re doing so you can always stay true to your vision and values.
When you’re being honest your followers will begin to know, like and trust you, and that’s what will make them want to work with you.
So the best way to establish trust is to provide value to your audience, be authentic and real, don’t pretend to be something you’re not. Establish yourself across multiple platforms and don’t just hide behind your computer screen never sharing who you are. Share photos and videos so people can get to know you and what you’re about.
The secret is to first determine where your target audience is most likely to find you. Facebook caters to most audiences whereas Snapchat is more conducive to teenagers; Instagram is the place for suburban Millennials, and YouTube is great for Gen X and Gen Y if you need them.
- Establishing Yourself as an Expert
After personal credit, expertise is one of the most important aspects of making social media profitable.
If you are a known expert in a niche, people will naturally think of you first when they have a problem in that field. If you build this kind of reputation you will not have to advertise in the traditional sense.
Becoming known as an expert within a niche is the next level beyond becoming known as a personality or a trustworthy face on social media. There are many ways that you can become known as an expert.
You can begin with niche websites that feed into the major search engines. For instance, many of the stories that you see trending in your Facebook feed come from trusted news websites that are focused on a specific topic area. People will share the story from there, and it will come to the attention of the mainstream through the viral activity that places it in the feed.
If your content becomes popular on the site, it will naturally be shared on the major platforms, which will magnify its reach exponentially once it goes viral on a site like Facebook or Twitter.
However, expertise is crucial, because people are much more likely to really know their stuff on these niche sites, and they can tell a fake from a mile away.
Many business people are loathe to give away their “secrets” such as tips in how to videos, and this should never be something that stops you from creating content.
Most people are simply trying to find out whether you’re an expert before giving you their business. They are not looking to implement your solutions themselves – they just want to know that you actually have a solution!
The more free value you give, the higher your profits will generally be. Offering value for free has never cut into the profitability of any social media campaign, so give, give, give!
Creating ongoing content is one of the best ways to create an audience that trusts you on social media. Consistency also helps your social media channels become more known to the internal search mechanisms of your chosen platforms.
Once you become trusted in the eyes of human visitors and search algorithms, you will gradually become more visible through word of mouth and organic prioritisation. You will have to spend less money on customer acquisition marketing, and you can put much more effort into the maintenance and growth of your platform.
Consistency does not mean running yourself into the ground. Be organised and use tools to make your life easier.
Setting expectations is very important. If you have a great piece of content every week, then people will come to expect that. If you produce slightly lower quality content but you do it daily, people will begin to expect that.
What is important is that you continue the habits that you start from the beginning and tell your audience about any changes that you are thinking about.
Just because you are putting material on the street does not mean that you are actually reaching them! You need to ensure as much engagement as you possibly can.
This “high touch” philosophy is what actually brings you your customers regardless of the platform.
85% of potential customers will leave a business if they do not get a knowledgeable sales agent. 51% of people say they will buy if they get a knowledgeable sales agent. These percentages are not equal, but you do not need to gain 85% – 51% of people is more than enough to turn a profit.
On social media, the sales agent is the content. This goes back to creating an expertise and personal touch. The more that you put these principles into action, the more knowledgeable you seem. The best part about this: The more that you put into creating a high touch social media presence, the more quickly your “touches” will build on each other. People talk. This word of mouth is the new way to advertise; really, it is the only way.
Provide value for one person today, and you will have the opportunity to provide that same value for 10 people tomorrow. Encourage interaction through asking for commentary about your social media work. Make sure that you do this regularly in your content.
Once you start an interesting conversation within a social media strategy that is high touch, you will naturally gain customers without having to advertise your products to them very much. Instead, customers will come to you.
- The Research
37% of Twitter users will make a purchase from a business they follow. YouTube is now more popular than basic cable among Americans between the ages of 18 to 49. More people are buying products based on the recommendations of social media influencers rather than standard advertising.
The world is changing and you can either move forward with it, or get left behind.
Once you determine your platform, you need to determine the type of content that works best on that platform, and the content that you best produce. Just because you see a wave come through social media (and you will see them) does not mean that you should participate in it.
You may not make that type of content very well! For example: If half naked fitness models are the new thing on Instagram, but you have not been working out twice a day like the popular fitness models, then you might want to keep your clothes on. This is simply not your wave.
Although you may not grow your audience as quickly as those wave riders at that time, the people who are with you will have more respect for you for staying true to your values.
On the flipside, once you find your wave, take full advantage of it. Drill down into the types of social media that you do well so that you understand exactly why your audience is tuning in. The reason that your audience likes you is probably not the reason that you think.
Analyze using the free tools that Google, Facebook, YouTube and Instagram give you.
So there you have it. Becoming profitable using social media can be an easy and smooth process as long as you follow the steps that actually work.
You will need to keep your eyes open for those unique twists and turns that will occur in your personal journey, but the tips above will certainly give you a general blueprint that will keep you on the right path.