Monetizing Your Content On Social Media
It is reported that a branded post can bring in anywhere from $100 to $10,000+! According to Hootsuite, the unspoken industry standard would be $100 per every 1,000 followers – While it’s not that simple, it is a good starting point when figuring out your rates.
Another actively growing way to monetize yourself or your brand via social media is selling something! When you have an organic following and you’ve created something within your niche that satisfies a need for your audience, sell it. Whether it’s an online course, a physical product, or a service, there is always somewhere to begin promoting it. Some online marketplaces that rank top of every creator’s would be eBay, Etsy, Instagram Shopping, Amazon, TikTok Shop, or through a website you create (Shopify, etc).
Affiliate marketing is another great monetization tool that social media has given us, where users can create personal links to sell products that will give them a kick-back for every product they sell. TikTok Shop, Amazon, Walmart, Target, and many other marketplaces have these types of programs. When you have a hefty following on social media and share honest opinions about products or services you use, you can get a solid passive income from sharing it with a promotion on your posts or videos.
Last but certainly not least, we need to cover another newer monetization option – Content subscriptions. Multiple outlets are allowing creators to save specific content for those audience members that pay extra to see said content. Much like a Patreon or, more recently, the subscription setting on Instagram, you can intrigue your followers to pay a small monthly fee to get all of your content.
A great way to make sure your content is considered for these partnerships, sponsors, etc. is to generate a need for what you’re sharing. Giving people valuable information or even a good laugh – Whatever it may be, you want to evoke some kind of emotion that will keep them coming back for more. Brands who want to partner with you look at your numbers first – They want to know that their investment in you and your content will be worth it for them.
Exploring avenues of content that aren’t frequently traveled will also help you stand out to companies looking to add influencers to their payroll. If you’re creating something different, unique, or niche, it will grow an organic following for you, and entice brands to work with you.