How to Monetize Social Media
To choose the best option for monetization you should have a clear understanding of the niche you belong to, and your target audience. Today, every more or less popular brand or content maker needs at least one social media because that’s the easiest way to have and improve connection with the audience.
Before you begin to explore the article, we have a quick question to ask. What’s the first thing that comes to your mind when you hear the word “Monetization”? We have taken a poll on our social media, and to be honest, we were surprised with the results we got. The majority of our subscribers and customers have an everlasting association with YouTube channels and videos posted under advertisement agreement. Though we are happy that plenty of people (less than a half) mentioned monetization of Instagram pages, Twitter accounts, the launch of educational courses, and webinars as an opportunity to convert your knowledge into money.
These answers are very close to being right, but to be honest there are more great ways to turn your social media or a personal website into a tool with a powerful driving force that would bring you revenue. Our team wants to help people move to the next level of making personal web products, we want to provide people with knowledge about the possibilities of turning their educational free content into an income source.
Social Media Basics
To choose the best option for monetization you should have a clear understanding of the niche you belong to, and your target audience. Be sure of the age group and gender of your customers. Social media networks as we know them today have appeared not that long ago, though we can’t imagine our life without them. An impressive percentage of information that we daily get is from Facebook news feed, Instagram stories, tweets from Twitter, and some other online resources. Even on Linked in you can find communities with useful information and people you would like to build working relationships with. We use social media to find information about lucrative sales, newly opened spaces, and even to follow celebrities we like.
Actually, today, every more or less popular brand or content maker should have at least one social media because that’s the easiest way to have and improve connection with the audience. Presence in digital space helps to make your image better, you can share insights and relevant product updates, answer most commonly asked questions online.
Define Your Niche
According to the statistics, 90% of the internet audiences visit at least one business account per day, including Facebook groups, Instagram pages, etc. Ultimately, there are millions of people online that might be interested in your product and you as an influencer, so your niche should be easy to get.
In 2021 there are 8 lead content niches:
As you can see there are so many great opportunities that you can use to realize your potential as a beauty artist, travel blogger, or sales expert. We recommend you check the market, choose one of all ways, and master it instead of spreading yourself too thin. No need to be ideal for everyone, try to find people who would be interested particularly in your person. If they haven’t come yet, they’ll naturally find you as soon as your niche is clear. The number of your followers is not really the only base you should consider at the very beginning. Firstly, design an engaging and high-quality product.
Find Your Audience
Well, you’ve defined your niche, but to start monetization of the website you should take care of growing a certain amount of loyal audience that would regularly come to your social media service and follow your content for free. At the very beginning, it might seem difficult, but some tricks have been from successful social media influencers and businesses, so we collected them into one guide.
Every effective marketing plan needs a full analysis of competitors. Study all the available metrics and data. To attract new followers and customers to your social media pages, you need to observe the strategy and features of successful digital businesses, make notes. This does not mean that you should copy the content posted on their Facebook group or portray the style of their social media. The best for you is to study their actions and the audience’s reactions to be in tune with trends and come up with new creative ideas.
If you started with an account on a social media network, and later you decided to develop another one, don’t be afraid to show ads of new pages on your resources or existing pages. There’s nothing wrong with duplication of content. That’s normal when one part of followers choose your Instagram page and your Facebook group, and another prefers just to subscribe to the newsletter service on your website.
Feel free to mention your parallel accounts in social media not once, but with a solid frequency. It allows new customers to reach the rest of your social media pages.
Making friends and cooperating with direct competitors is almost impossible, but partnering with representatives of other areas is quite realistic.
In practice, there are several most common options to exchange with one another audience. The easiest and fastest option is to exchange posts in Facebook groups (usually for free). If you want to generate more interest, come up with joint promotions, workshops, or contests.
Events and games
With or without partners, do not forget about direct communication with subscribers and entertain them. This is one of the reasons why people spend time on social media networks, users come here to relax, distract themselves and learn something new, and it works for them. Many users are eager to get involved in interactive activities. We recommend you to include lotteries, repost posts for a random prize, competitions for the wittiest comment to your content plan, and host hot conversations. The involvement of followers can help to develop your online recognition significantly.
Social media buttons
Some influencers consider bots as one of the best options for generating traffic. There is an option that is really worth a try. It doesn’t take too much effort, but it would be leverage on the way to traffic boost. Users are always interested in the company’s social media because Instagram with live comments and captions will always be more talking than a regular photo gallery. Subscribers’ time is a valuable resource, create a special section with buttons on your website, and make access to your social media as quickly as possible.
Most Popular Monetization Techniques
Congratulations, you know your niche and finally accumulated your loyal audience engaged in all kinds of activities in your product’s social media. Don’t miss the moment, start earning money from your social media.
We decided to free your time and below we share a list of the most useful monetization practices that are used by successful marketing teams and experts all over the world.
The modern generation values time a lot, so instead of reading long texts and reports, youth prefer short informative videos. To receive attention and build a deeper connection with the largest part of the digital audience we recommend you to create some video content, it might be something short as TikTok videos or longer IGTV videos on Instagram.
It is up to you what kind of message the video would have. You can create and share learning materials, a story of your life with answers to the most common questions from your customers, a guide on how to grow plants, or a home DIY tips and tricks. By posting videos you build a kind of eye-to-eye contact with your customers, they see a real person behind the product.
You can use various platforms to share it, like live streams in Facebook groups, Instagram or TikTok. To control the audience and get analytics data with Scrile Connect you can post locked videos available only to those of your followers who paid for it and the cost you set on your own.
By the way, videos help to increase engagement, that’s a fact that Facebook posts with videos are able to get more attention than the same posts containing only text.
One Step from Freemium to Premium
Are you surprised to see this option? Don’t hurry to skip it.
The Freemium approach for a content-related marketing scheme is a quite popular service model. Followers can get free access to online info products, which are supposed by paid subscriptions. At first sight, this marketing scheme might seem a little confusing, because if you want to monetize the content it is illogical to give it for free. But if your audience sees the benefit of the product, they would like to have an opportunity to get a premium plan, and they would be ready to pay for it. We recommend you to consider it as a demonstration of all the advantages of your product.
In the last few years selling products via your business social media has been growing in popularity. Some time ago all the sales were held only in online shops, but now it is easier for people to go to your Instagram page and buy your product there.
Building your marketing strategy keep the balance of the informative side of your social media, sales options, and monetization force. Don’t try to sell your followers those products or services that you question and don’t believe in.
Though it might seem that social media have integrated into our life not that long ago, there is already a generation that grew up having their own Instagram pages and Facebook profiles since early childhood. They create social media profiles as their own reflections in the online space. Social media tells their story to the whole world.
This generation tends to follow their favorite brands and content creators to show their belonging to the social group. You can use this peculiarity to monetize your business. If you build your business outside the webspace, make some products such as unique software, or paper books, you could use social media as an advertising platform that is 100% about you and your product, and collaborate with influencers with your target audience.
Sponsorship is a mutually beneficial marketing solution. Under a sponsorship agreement, a sponsor increases the number of customers and you as an influencer get money for the loyalty of your followers and your works.
In most cases, products that are monetized on a sponsorship basis are published on special terms, or advertised within usual content, but they should be marked as sponsored. Many successful businesses have budgets and special departments that watch different influencers and connect with those who seem to have a high potential for their marketing campaigns.
Affiliate programs are a kind of sponsorship that stands alone. Many well-known brands offer affiliate programs. It helps both influencers to monetize their work on promotion of their social media, like Instagram, Facebook, and brand’s media spaces made based on various platforms (Scrile Connect is an example of such). The service made by an affiliate creator is paid with a percentage from the products that were sold after the advertisement was released.
Most importantly you should understand that making advertising contracts a base of your monetization program, you have to value your audience. It’s wrong to create promotion campaigns on your social media just to monetize it, but not to share your honest opinion about the product.
We are very happy that social media makes a comfortable online space for creators to feel free in the realization of their potential. Social media have grown into an inseparable part of business and marketing schemes, that help to make money and lead the audience in search of an influencer who would broadcast topics and ideas that bothers them.If you want to become such a creator, or you already have an audience that is interested in learning your story and view point, we’re welcome to you to Scrile Connect. The platform won’t take any commissions from your earnings and sales but is ready to offer you a full set of monetization tools for you to become an independent creator or a brand owner.