Must Read: How to use social media to make money.
Social media is a goldmine of opportunities to make money. There are many ways to monetize your social media accounts and you should always be on the lookout for new ways to do so. It’s important to first understand the different types of monetization in order to choose the right approach for you. Here is how to use social media to make money.
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Social Media is a form of Internet marketing. This encompasses a wide variety of web-based applications that allow individuals, businesses and organizations to communicate, share content and conduct business online.
Read also; How to make extra income as a student
Each social media platform has its own unique formula and guidelines that you must understand in order to be successful on it.
The first step to posting for profit is to choose the social media site that’s right for you.
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Facebook
Facebook is undoubtedly the biggest social networking website in the world. It is also one of the most popular sites for businesses to market their products and services.
Tens of millions of users are on Facebook every day, and it is used by more than half of all internet users on the planet. That makes Facebook an ideal way for you to promote your business to a vast audience — if you know how to do it effectively.
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Twitter
The amount of money you can make from Twitter depends on the number of followers you have, but most accounts with over 100,000 followers can easily make $1,000 a month or more. That’s because these users have influence and credibility in the form of their large social media following, so companies pay these users to promote products through sponsored tweets.
Twitter is also great for affiliate marketing. With affiliate marketing, you promote someone else’s product or service and get paid a commission when someone buys it as a result of your recommendation. The best part about affiliate marketing through Twitter is that there are several services that can help you track your purchases through affiliate links and automatically post them to Twitter at appropriate times, so all you have to do is tweet!
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Tumbler
this platform allows you to upload and share videos from your computer or mobile device. You can make money from advertising, sponsored posts or selling branded merchandise like posters, mugs and T-shirts.
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Instagram
this platform has made a huge impact on social media marketing in recent years as it allows you to create 15-second videos as well as pictures and embed them in your posts. You can also build an audience by using hashtags and then use that audience to promote your own products or services.
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LinkedIn
this platform has become popular among businesses as a place to promote their products, services and event invitations as well as having a profile page where you can target potential customers based on their interests, skills, location and more.
This is one of the easiest ways to make money from social media and it works well across several platforms. You can get paid for liking or sharing posts that are sponsored by advertisers or companies. The amounts vary depending on the platform but are generally small sums (around $1-2 per like).
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Lead generation
This is a relatively new monetization option that involves getting paid for driving traffic to advertisers’ websites. You can do this by sharing links on your page, writing blog posts, or creating videos.
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Promoting Affiliate Products.
This is a basic method and anyone can do it regardless of the size of their social media following. The trick to this is finding a supplier that offers an affiliate program and then promoting those products on your social media accounts.
Don’t just promote any product, research the product first to ensure its quality and something you can stand behind. Affiliate marketing takes time and effort so don’t promote a product you wouldn’t use yourself.
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Selling your products or services
If you have a business or sell your services, social media is a great place to drive traffic to your site for free via ads such as Facebook ads or Instagram influencers. You can also make money from home by selling your products or services through your social media accounts.
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Earning money from contests or giveaways
You can set up a contest or giveaway using social media. You can do this by creating a post on Facebook, Instagram, Twitter or even YouTube! People will enter by liking, commenting, sharing or simply replying to your post with their email address.
You can allow people to subscribe to your email list in exchange for an entry into the contest/giveaway which is another great way to build up your email list.
