As a Social Media Marketer, you understand the importance of growing a following through different social networks. Even if your following is not as massive as you'd wish, there are ways you can turn that following into revenue by monetizing your reach.
Over the last decade, social media has revolutionized the business and marketing industry. Networks like Facebook and Instagram with combined monthly users of over 2.7 billion create a platform where reaching an audience and turning that reach into generator revenue is not only possible, but completely doable.
In this post, we'll give you some tips on how you can monetize the social followers you have now.
Create courses to educate your followers
Online learning is an industry that is expected to grow to $331 billion by 2025. If you've followed this trend, than you understand the importance of taking time with your own expertise and create courses to offer your followers.
Platforms like Udemy and Teachable give you the space and tools that you need in order to create an online course and share it with your audience.
App developer Nick Walter from Utah took his skills and experience as a developer to Udemy. He first launched a Kickstarter campaign where he pre-sold his course at a discounted rate. With just that, he was able to raise over $60,000 in 30 days!
Another great example would be an Instagram brand run by a digital marketer. Jose Viana took to Udemy with her expertise running multiple Instagram brands with combined followings of over 500,000. He created a Udemy course teaching viewers how he became successful and how they can achieve success in growing an Instagram brand.
By taking the experience you already have and creating a course, you can provide valuable content to your followers and generate revenue for yourself.
Use videos to engage
Video content is on fire right now, with no signs of slowing down. Nearly one third of all online activity is spent watching videos. Almost every platform is generating billions of video views every single day. Even snapchat has surpassed 10 billion video views per day. If you aren't taking advantage of video content as a part of your digital marketing strategy, than you are definitely missing out.
In a recent study by Adobe, we learn that an audience that views a video is 1.81 times more likely to purchase something as compared to a shopper that did not see a video. Not utilizing video as a part of your social outreach is simply something you cannot afford to do.
Videos can help you increase your chances of monetizing your audience. You can, for example, create video content showing off your product or service, connecting with your audience to explain to them exactly how your offering can benefit them. By combining you expertise with video content, you not only convert followers into customers, but have the opportunity of expanding your credibility in your industry.
Example of using Video content to convert followers
Become an Affiliate
You can leverage you current social following for revenue, even if you don't sell any products or services yourself. There are great affiliate sales programs that you can join, allowing you to connect with companies that will pass on a percentage of their sales for referring your followers to their products.
Affiliate programs are also growing in popularity, as this is a large and viable sales model. On one side, you don't have to deal with the expenses associated with purchasing inventory, shipping or customer service. You're allowed to focus on what you do best, which is continue to grow your following while you capitalize on referring your followers to products and services they'd love.
Do be careful when posting affiliate posts, being honest to let you followers know about your affiliate status as you promote those links as well as knowing how often is you should post. Failure to do so could result in a big loss of followers.
Whatever you decide to do, just do it. Let the monetization of your followers and generation of revenue for you be a matter of "when" not "if".