Building a big social media following is an easy part of social media marketing. The tough part is to monetize those followers.
Most of the tactics that you’ve used up to this point are not working. And that’s why at the end of today’s blog post I’m going to also show you how to monetize your social media more on a level you never thought possible before.
So, are you ready to begin? If so, let’s dive in…
Selling Products And Services
This is the most common and best way to monetize your social media following. There is not even remotely close enough money in all of the other ways that I am going to show you.
However, it is also the hardest one. To sell your products or services you need to have the right skills and the right strategy.
And also, you need to have the right social media sales funnel that is going to walk them through the process that is going to turn them from a total stranger into a customer.
This is the way most businesses monetize their social media (obviously), and also it is the way that I recommend that you do it as well.
However, if you don’t have a product or service to sell, there is still an alternative that I’m going to show you at the end of this blog post…
Driving Traffic To Blog/YouTube And Showing Ads
This is another amazing way to monetize your social media, but it is way harder to make money from this. Unless you’re followed by hundreds of thousands of people, it will be tough for you to get even remotely close to what you could make by selling a few products and services.
But you don’t need to know anything. Showing ads requires no experience.
This will be your choice if you already run a blog or have a YouTube channel and this is the way you monetize it.
Another way to monetize your social media following is by doing influencer marketing. This is slightly better than just driving traffic to your blog or showing ads on your blog…
All you have to do is to create a promotional post for the brand that paid you (or what they ask you to create), and promote a certain thing to your audience.
But be careful as if you promote the wrong thing, it is going to seriously hurt your reputation.
However, you can only do so many influencer marketing deals. So, the income that you can generate from this is also limited.
This is an incomparable alternative to all of the 3 things that I’ve just shown you. And it’s no secret that you can turn this into a massive income stream for you or your business.
Affiliate marketing means selling other business’s products or services for a commission of every sale.
If the commission is recurring, then this can mean passive income for you, and there are virtually NO LIMITS to how far you can scale this.
It’s not impossible to earn millions of dollars per year if you have the audience and the right sales process for selling the affiliate product or service and you choose the right program.
That’s why I always recommend that if you want to monetize your social media effectively but don’t have products and services to sell, this is what you want to do.
Also, always try to pick a program with a high recurring commission so that every sale that you make pays you again, again, and again.
It is absolutely incredible. But how are you going to sell your products or services or the affiliate products or services effectively?
The answer is using a social media sales funnel.