Social media has billions of users across platforms like Facebook, Instagram, Twitter (X), TikTok, and more. The eyeballs on social media provide avenues to make money, with the right strategies. Thus, this article shares the top 10 avenues to make money on social media.
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Become an Influencer
One of the most popular ways to profit is by becoming an influencer. Influencers are people who have built up a large following of engaged fans and followers. Brands love working with influencers to promote their products through posts, videos, stories, etc. The more followers an influencer has, the more money they can charge.
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Do Affiliate Marketing
Affiliate marketing means you earn commissions for promoting other companies’ products or services. Share special tracking links on your social accounts. Every time someone uses your link to make a purchase, you get a percentage of the sale.
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Sell Your Products or Services
Social media provides a huge marketplace to sell almost any type of product or service you offer. Promote your business offerings through posts, live videos, stories and paid ads.
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Offer Social Media Management Services
Since most businesses need help managing their social media presence, you can offer this as a paid service. This includes creating posts, running ads, engaging with their audience, tracking analytics and more.
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Become a Social Media Consultant
Along with hands-on management, businesses are also looking for strategic advice and consulting. You can get paid to help them plan social media campaigns, grow their following, drive traffic to their website, and more.
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Create and Sell Online Courses
Use your social media skills to create online video courses that teach people or businesses how to effectively use social media for marketing and promotion. Sell these courses through your channels.
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Sell Merchandise
Have some cool logos, designs or slogans? Use print-on-demand services to put them on merchandise like t-shirts, mugs or hats. Then promote and sell the products to your fans and followers.
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License Photos and Videos
If you’re good at photography or making videos, you can license and sell usage rights for your visuals through online marketplaces. Share teasers and examples on social media to attract potential buyers.
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Offer Community Management Services
Many brands build online communities on social media around their products, interests or audiences. You can get paid to manage these communities by moderating discussions, responding to comments, and more.
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Run Crowdfunding Campaigns
Social media makes it easier than ever to run crowdfunding campaigns to raise money for a new business, project, product, charity or other worthy cause from your friends, family and followers.
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Final Thoughts
The key to being successful at any of these methods is to first build up a decent following on your preferred social media platforms. Share high-quality, engaging content consistently to gain as many followers as possible. Then look for ways to provide value and monetize that audience. With hard work and creativity, this list can be extremely lucrative avenues to make money on social media! The income potential is limitless if you can build a loyal audience.
Got a suggestion? Contact us: editor@connectnigeria.com
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This article was first published on 6th June 2024 and updated on June 10th, 2024 at 9:39 am
chidiogo-akaelu
Chidiogo Shalom Akaelu holds a degree in English and Literary Studies, from the University of Nigeria. She is a freelance writer, editor and founder of Loana Press, a budding online publishing outlet.
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