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According to reports, 75% of customers use social media to research products and business owners before they buy. With social selling now part of how users engage with different platforms, there are opportunities for small business owners, entrepreneurs, content creators, and users with a large following to bring in money while continuously engaging their audience.
Because of this, social media is a great place to monetize any business efforts, and there’s more than one way to do it. Consider these 9 ways to take your social media presence and turn it into dollars, plus things to consider as you get started.
Benefits of making money on social media
If making money on social media platforms isn’t something you’ve considered before, it helps to understand the benefits that differentiate social media from other tools for earning money. No matter if you’re considering selling in a passive way or turning your social media profile into an extension of your overall brand, these are some of the unique benefits of making money on social media.
Direct connection: A lot of users monetize their social media platforms because they already have an audience likely to buy from them. For example, if an influencer has decided to take up making ceramics and wants to sell their finished products, they then can sell those directly to their followers.
Diversified revenue streams: For many entrepreneurs, selling online is either a second stream of income or a hobby. Social media can offer control over what to sell or how to make money on your own schedule. It can be a passive endeavor or a primary revenue stream—it really is up to you.
Audience and brand growth: Making money on social media can help not only with revenue, but with growth. You can reach new people through partnerships, sharing your expertise, or affiliate marketing opportunities, reaching more users.
Simplicity of set up: If you already have an audience on social media and your profile is how most people discover you, it can be a more affordable or faster way to start exploring sales. Many successful entrepreneurs start selling on social media before launching a website.
9 ideas for making money on social media
Making money on social media isn’t just about influencer marketing opportunities, though those are great pathways, too, if that’s your goal. Generating some kind of income from social platforms isn’t a one-size-fits-all experience.
Consider the following 9 ideas for making money on social media and how you can make them your own.
1. Brand partnerships
One of the most popular ways to earn money on social media is through brand partnerships. Some partnerships mean promoting products or services with branded content that have specific campaign goals in mind. Other times it can be very collaborative, and brands might collaborate on content ideas that resonate best with your audience. It’s also a great way to reach an audience beyond your own, tapping into potential customers who follow the brand.
These offers often come to accounts with high follower accounts, but you can also reach out to brands to gauge interest. Make sure to vet offers from brands you’re not familiar with.
2. Micro- or nano-influencing
You don’t need to have a big following to start to earn money on social media. It’s true that influencers with a massive following will make more money, in large part because they have a wider reach. However, anyone with a digital presence can, in fact, become an influencer.
Nano- or micro-influencing refers to anyone with a smaller, perhaps more niche, audience of 10,000 or fewer followers. At a nano or micro level, you can still partner with brands and earn money on posts. Similar to brand partnerships, you may get offers or reach out to get started.
3. Coaching and consultation
Users on social media will often find those proficient in a specific field or industry and follow them for their insights. If you’re a person with professional experience that can be taught or advised on, consider offering coaching opportunities and selling and promoting them on social media.
For example, a long-time professional photographer could decide to offer 1:1 consultation sessions with beginner or intermediate amateur photographers, and create an Instagram post with the details on sessions, payment, and outcome. Coaching or providing consultations can be as flexible as you need it to be should you take this route.
Learn how to start a consulting business
4. Sell online courses and workshops
Similar to earning money from coaching, professionals with an audience can also sell their work or ideas packaged in online courses or workshops. For example, a freelance copywriter with a fairly dedicated audience can—to supplement some income—create an evergreen copywriting 101 guide to sell to beginners in the field. They can link the guide in their link in bio or multiple products on a link in bio page.
Learn about creating online courses
5. Sell ebooks
Ebooks is a fairly broad term. An ebook can be a novel, nonfiction, a workshop or course set down in a guide, or pretty much anything longer than an article. Selling ebooks on social media is a great way to both earn additional income and generate more authority and expertise around a specific skill or in a specific industry.
Depending on what you’re creating, a well-designed PDF, purchasable from your profile or website, is enough to get started.
Read our guide to making and selling ebooks
6. Sell physical merchandise and print on demand
Sometimes followers like to show their support for a creator, online personality, or business beyond engaging with or paying for their content. If you have a steady following, you may consider developing and selling your own merchandise. For example, if a creator with a large following wants to monetize that opportunity, they can print t-shirts and hats for users to buy, featuring art or phrases that are connected to your community.
This can be as intensive an offering as you want. If you have the space and ability, consider selling physical items you produce, like prints or stickers. If not, you can use print on demand (POD) services to handle the printing, manufacturing, and fulfillment for you. Once you have a design, you can offer a variety of merchandise for sale, like apparel, stickers, and buttons, or objects like mugs and tumblers.
7. Sell digital art
Not every sales opportunity on social media will involve physical products. In some cases, especially for designers or photographers, there’s great interest in buying digital products. For example, a graphic illustrator may do work for businesses and brands, but also have a following for their personal creative work. This artist can offer followers the chance to pay for and download pieces to print off at their leisure.
Learn more about selling art online
8. Tip jars or crowdfunding
One thing that many modern creatives do is create a tip jar for supporters to offer some money and show appreciation for their work. Instead of selling something directly, like a subscription or item, they opt to have a tip jar for small amounts donated whenever a user can. This is a fairly flexible option, but can be an unpredictable source of income.
Crowdfunding through campaigns is another way for users to donate to their favorite businesses or content creators without committing to a larger purchase or monthly fee. For example, you might crowdfund for the launch of a new product, course, or other need.
Learn how to collect tips, donations, and other funds
9. Affiliate marketing
Affiliate marketing is one of the most passive and flexible ways for anyone to make money on social media. Businesses pay users in their affiliate program some kind of commission for every sale that’s made on their unique URL.
Affiliate marketing is different from brand partnerships noted above. In a brand partnership, there’s a collaboration or long-term campaign opportunity to develop content, and usually those rates are higher. For affiliate links, commissions are lower and based on how many sales come from your link. There is a lower barrier to entry with affiliate marketing, and it’s not as time-consuming as other ways of earning on social media, so it might be a great first step for you.
What to consider when earning money on social media
Social media is useful as an income stream, whether you’re a business owner or a content creator. Think about the following as you embark on this journey.
Stay authentic to your audience
Remember why your followers are there in the first place and stay true to that. That doesn’t mean you have to remain the exact same, but consider the values, ideas, or products you’re promoting or selling. Make sure they align and are consistent with what drew your followers to you.
Create memorable, quality content
Users are picky about where they dedicate their attention and spending. Memorable, honest, quality content that shows your unique perspective and voice will keep followers or buyers returning. When creating content, don’t just think about your goals, prioritize value to the viewer. The difference between a post showing various items vs. showing how to use them or style them can have a real impact on engagement and earnings.
Determine which platform is the best for your idea
You don’t have to be on every social media platform to make money from your profiles. Focus on where your following is and what suits your content. If you’re invested in video content, consider TikTok or Instagram as starting points. You can always add or expand over time.
Find sustainable tools and processes
How you plan, organize, and execute on your vision for social media will have a big impact on your success—and can make the experience more fun. Create content calendars to keep yourself organized; schedule or automate processes like posting and monitoring metrics; have a link in bio so users can easily find everything you post or sell; and brainstorm ideas to repurpose existing content in new ways while you come up with fresh ideas.
Don’t forget to promote
To get your content or products discovered, you’ll need to be vocal about them. Followers and users are busy, so a single post likely won’t be enough. Make a concerted effort to consistently promote your products, services, or ideas. Start with a goal that feels achievable, like once or twice a week.
Vet contracts and posting guidelines
For any content opportunities on social media that require a contract, we recommend going over documents with a legal professional that you trust. It’s also helpful to connect with peers to help gut check what terms and expectations are standard and which may not be. Don’t forget to keep in mind requirements or guidelines for posting sponsored or branded content on your profile, which vary by platform and location.