Photo by Igal Ness on Unsplash
The internet has opened up a box of opportunities for many people to get some money right in the comfort of their homes.
Social media platforms in particular have become a lucrative playground for those seeking to monetize their online presence. With billions of active users worldwide, these platforms offer a vast audience and numerous avenues for generating income.
James Smith, the founder of Content Epic, discusses five fastest ways to earn money from social media.
Influencer Marketing
‘With a substantial following and an engaged audience, influencers can leverage their social media presence to promote products or services for brands,’ James says.
Companies are willing to pay influencers handsomely for sponsored posts, product placements, and endorsements.
With a substantial following and an engaged audience, influencers can leverage their social media presence to promote products or services for brands. Companies are willing to pay influencers handsomely for sponsored posts, product placements, and endorsements.
One study says that on the average, influencers can earn around $2,970 monthly or $35,640 annually.
If you are a “nano-influencer”, which means you have 1,000 – 10,000 followers on your social media platform, you can earn about $1,420 per month or $17,040 annually.
If you are a “mega-influencer”, with one million followers or more on your social media account, you can earn about $15,356 monthly or $184,272 annually.
Affiliate Marketing
‘Social media platforms provide an excellent avenue for affiliate marketing, where individuals can earn commissions by promoting and selling products or services through their unique affiliate links,’ James notes.
This approach allows them to leverage their audience and earn a percentage of each sale they generate.
According to a job platform, the average salary of an affiliate marketer is $59,060 per year. The salary can range between $58K to $158K, which may also include “additional pay” options such as cash bonuses, tips, or commission.
Selling Digital Products
Social media has made it easier than ever to sell digital products such as e-books, online courses, software, or artwork.
‘Content creators can leverage their platforms to market and sell their digital offerings directly to their followers,’ says James.
An online marketplace estimates the earnings of somebody selling digital products to be around $2000 per month.
Monetizing Content
Platforms such as YouTube, TikTok, and Instagram do have some monetization options for content creators.
James notes: ‘By accumulating a significant following and meeting specific criteria, creators can earn money through advertisements, sponsorships, or platform-specific monetization programs.’
A job platform says a content creator can earn between $51,000 to $96,000 a year.
Social Media Management
Businesses and individuals, in many cases, often ask for assistance when it comes to managing their social media presence.
James says: ‘Social media managers can offer their services to handle tasks such as content creation, community management, and social media advertising campaigns, earning a steady income in the process.’
A social media manager can make as high as between $54,000 to $99,000 annually, according to a job platform.
The Positive Sides
The positive sides of earning money from social media are numerous. ‘It offers flexibility, the ability to work from anywhere, and the potential for passive income streams. Additionally, social media provides a platform for individuals to showcase their talents, build personal brands, and connect with like-minded communities,’ says James.
As the digital landscape continues to evolve, the opportunities for social media earnings are likely to expand, making it an exciting and lucrative frontier for those willing to embrace it.
