How to Use Social Media to Make Money

Updated on October 19th, 2020
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Likes and comments don’t pay the bills. You’ve probably heard this before and it’s true. Social media fame doesn’t necessarily mean you’re rich or even making money at all for that matter. Social media can be a great tool to get exposure for your business but again, exposure doesn’t pay the bills.

While you can certainly use social media as a tool for your overall marketing plan, you can also make money directly as a result of your social media posts and following. Here’s how.

Start Marketing Your Services and Products

I’m not the best at self-promotion, but I’m getting better at it. As the popular saying goes, closed mouths don’t get fed. Social media is the perfect platform to tell your audience more about what you do and how you can help them.

It’s also great for introverts like me who aren’t that good at socializing and pitching people in person. Don’t just use your social media page as a running ad for your services though. Mix it up by offering a few helpful tips, some motivational quotes or funny posts then throw in an offer or two in between.

You can link directly to your products or services page, and announce discounts and deals right on your social media platform.

Promote Affiliate Products

If you are an affiliate for any products, don’t forget to share your links on social media. I know so many people who forget to do this. Each affiliate program is different, but many will allow you to promote on social media (just read the terms and fine print when signing up).

This means you can write a short post or share some pictures of you using the product or service and the results you got from it. This will motivate other people to at least check out your link and if they find the product or service helpful, they’ll buy and you’ll get paid.

Get 10,000 Instagram Followers (Or Close)

Instagram is not all just about picture-perfect home decor and latte art. Some Instagram users are making serious money as influencers. To be an influencer, you need to have a following which includes an audience that trusts your judgement.

You only build this by being open, authentic and offering up value. Think why someone may want to follow your profile or interact with your business. As you grow your following, you may qualify for sponsorship opportunities with other brands. This is where the real money comes in.

Realize that while 10,000 Instagram followers is a great goal, it doesn’t mean that you can’t make money on the platform with less. I’ve landed quite a few Instagram sponsored post opportunities without having 10,000 followers. If your following is smaller but engaged, you can still negotiate deals with brands.

Test Out Facebook Ads

Facebook advertising is an exceptional way to use social media to make money online. Sometimes you have to pay to play. Facebook holds so much information about your target audience that it makes sense that you’d invest some money into advertising to reach more people and boost conversions.

Facebook advertising is all about trial and error though so you want to be willing to test out different strategies and audience types until you find what works.

Check out YouTube videos with Facebook ads tips or consider taking a course to help you learn how to get a great ROI with this strategy.

Summary

Using social media strategically can be a little time consuming, but it pays off when you leverage your platform to earn money. When you use social media to make money, you create a whole new opportunity to increase your income and develop new streams of income in your business as well.

Take some time to strategically build your following and be consistent with posting. Then, use these tips to start making money with social media.

 

Choncé Maddox

Choncé Maddox

Choncé Maddox is a debt expert. She helps ambitious millennials and Generation Z get our of the mounds of debt they are in following college. In 2015 she realized she couldn’t afford to do her own laundry, she was so broke. She had to make a change. Over the next three years she personally tackled $50,000 in debt and became debt free. She teaches others her passion since.

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