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How to Make Money on Social Media

Social media is getting more popular with each passing day.  At the same time, business understanding of how they can leverage social media is increasing, too. However, many are still struggling to convert a social media presence into increased revenues for their business.

Here are some ways you can help yourself make money on social media.

Be Real

Social media isn’t your typical advertising platform. As such, you shouldn’t be using it for too much self-promotion. Get involved, start a conversation, and engage with people so that they want to know more about you, rather than simply posting links to your site.

This means joining in with what others are discussing, too, and not turning everything around to what you do and to your own website.

Create Value

Taking to social media and simply regurgitating the same things repeatedly is the mistake that many businesses make, which is why they don’t then make any money.

You need to give people something that will make them feel like they want to interact with you. Perhaps create some content you can give away to your social followers free, or offer them a discount on your products and services. Not only will you make money from your followers, once word is out about your generosity, you’ll make a heap more, too!

Position Yourself Correctly

This means following your target market and making efforts to engage with them. Social media has something of a reputation for being a passive form of marketing. This is why businesses produce content regardless of the results and simply say, “Take it or leave it.” It’s also why many write off social media as a useful platform despite not really knowing how to make the most of it.

If you put yourself in the conversation rather than waiting for someone to bite and engage with you, then you’ll be far more successful.

Create a Community

Encourage your followers to interact with and get to know each other. If there’s a real community feel to your social presence, people will feel a lot closer to your brand and be more loyal to you as a result.

There are many ways to get your followers interacting with one another, from putting questions from them to you out there to be answered, or merely by sharing feedback and opinions, and thanking them for it by name.

Have a Plan

This is where social media can all fall down. If you want to make money, then you need to have a plan. How often a day are you going to update your accounts? Who is going to do it? Will you respond to queries immediately or have a specific time of the week when you do it? How will you let people know when you’re going to be online to answer questions directly?

All of this and more should form part of your social media thinking if you want to make money from it.

Put all of these steps into action, and you’ll find your social conversions and profitability increase steadily over time, eventually building up a strong revenue stream for your business.

Written by
Posted · Dec 24, 2013
Categories · Social Media Optimisation.
Related Articles · How to Turn Social Media Followers into Footfall. How to Create an Engaging Facebook Page. How to Become a Social Media Manager. Why Use Social Media for Businesses?. How to Share Content Using Google+ for Business. How to Set Up Your Google+ Business Page. What is Google+?. How to Find LinkedIn Groups for B2B Marketing.

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