Many people are asking, “What is social media monetization.” A better question to ask is, “Do you like making extra money with little extra work?”
If you are like most people, making extra money without increasing your work load is an exciting idea. The way to do this is with social media monetization. And with over 70 percent of all internet users have social media accounts, you have millions in potential sales.
What is Social Media Monetization?
Social media monetization is the art of making money using your social media accounts. You have already done the work, which is building a following. You update your statuses each day and take advantage of opportunities to increase your social media numbers.
The number of fans you have on your social media pages can translate into dollars and cents. Your followers are fans. They want to feel a connection to you. They are willing to purchase what you are promoting. This is beneficial to you, because your posting schedule will remain the same, but you’ll be making ancillary income from social media monetization.
Because you are such an influencer, there are several reasons why you need to monetize and manage your social media accounts.
Get Paid for Endorsements
You are a person with influence. You are seen daily in your social media posts wearing the latest fashion trends, using the newest tablets and phones, even driving the best and fanciest vehicles. You’re traveling around the world and discovering restaurants and clubs.
You are giving numerous brands and businesses free advertising when you post a picture of you enjoying these things.
Why not reach out to those brands for an endorsement collaboration? They will appreciate being able to reach such a large audience and you will appreciate the extra income through this social media monetization technique. You may even get free products and clothing in addition to making money.
Double the Sales of Your Own Products
Selling yourself and your own products on social media platforms is a must. And who better to sell them than you? With the click of a button on your social media page, your fans can purchase your music, t-shirts, lyrics, books, art and any other products you want to sell them.
Fans don’t have to wait for a concert or spend time searching the web for a place to buy your products. As soon as you post the product for sale on your social media site, your fans can hit the buy button.
Make Money Using Your Other Talents
It is unlikely your primary creative work is your only talent. You are creative. Today, you do not have to just be known as a writer, musician, designer. You can be known for all your talents. And you can make money with all your talents.
Use your secondary talents to teach and entertain your fans. Create products to sell on social media that utilize these lesser known talents. Your fans will be inspired by you and will want to buy items representing all your creativity.
Make Money from Collaborations
Even stars have people they look up to. Who are the role models in your life? Who influenced you in the business?
Wouldn’t it be great to collaborate with these people? Your fans would love it and would be eager to pay for products related to these collaborations. A notable example of this are Kim Kardashian and Kanye West.
Separately, they are marketing experts, making millions from their individual creative works. Once they became a team, the millions turned into multi-millions. Think of collaborations you have been excited to see? Now think about the collaborations you can create.
Make Money from Video Sponsorship
Reports claim that Snapchat has 10 billion video views each day. Combine that with the millions of video views from Facebook, Twitter, and Instagram. Well, you get the idea. That’s a lot of people wanting to see more videos.
It’s no wonder sponsors are eager to advertise on videos. Here’s this type of social media monetization works.
You make the video, sponsors pay you to allow them to advertise before or after your video. It’s that simple.
Because you think of your fans first, you can choose the sponsors that you feel will benefit your fans. You can choose the sponsors that you trust.
Social media platforms have made creating and posting videos, content, and pictures a very simple task. They have made social media monetization just as easy. Plus, there are many monetizing tools that can do most of the work for you.
What this means for you is the ability to grow your platform and make easy, extra revenue.
Jason Swartz
Jason Swartz is the President and Founder of Alliance Talent, a world-leader in the entertainment business. Growing up in Los Angeles with a passion for music, he took his local childhood concert business and made in an international concert booking company. Specializing in entertainment booking, social media branding and monetization, and music publishing, Jason was the first to scale social media monetization for the music industry across Facebook. Today, he runs Alliance Talent, a leading entertainment company and concert promoter; focusing on concert bookings, talent representation, brand management, and social media monetization.