Social media has worked wonders for marketing. With two-way communication open to almost everyone, every company, no matter how big or small, now has a voice. The problem is that these voices are incredibly hard to monetize. It’s half the result of social media DNA — people don’t like to be marketed to — and half the result of a system that tends to value ‘free’ more than it does limited access.
However, there are several unique ways to monetize your social media presence. From affiliate marketing to sponsored content, the methods by which you can create a profit on social media aren’t complex or all that difficult. With a reliable and dedicated audience, you can comfortably create a social media income, retain and grow your audience, and establish yourself as an online authority. These four methods have worked for the big social media presences, and they can work for you!
#1: Sponsored messages and content.
Much like Google Adsense changed the world for website owners, sponsored tweet and messaging services are changing Twitter for its power users. If you’ve got a sizable following on Twitter, you can earn an income through sponsored tweet programs and advertising circles. This form of income is highly lucrative, however it requires balance and strategy. If you send out nothing but sponsored messages you’ll quickly lose followers and influence. Follow the 80-20 principle — 80% free content and 20% sponsor messages. Whether you believe in the concept of sponsored tweets or not – it’s a reality and a viable option for some.
#2: Affiliate Marketing.
This is a hugely lucrative way to monetize your online presence, but you really need a strategy to make it succeed. Affiliate marketing can net you commissions of anywhere from .50 cents to $500, depending on what you’re selling and who your selling to. Be very careful about using affiliate links on your Twitter account, as your followers will very quickly disappear if your tweet stream gets overrun with them. Balance them out with huge amounts of valuable content — think of a 95-5 rule — and only ever suggest them if you’re certain it’s a quality product.
#3: Indirectly market your services.
If you’re a popular Twitter presence within your niche, it’s easy to market yourself as an adviser, consultant or service worker. Whatever your field of expertise, network with people in the same area and offer your services through your social media profile. With social media proving a great channel for viewing conversation, you can display other peoples’ tweets, Facebook updates and blog posts on your services, and use them to influence new clients. To monitor influence, set up Google Analytics on your service website and see how much traffic your Twitter account brings in.
#4: Direct traffic to more profitable presences.
There’s a rule for online workers: ‘less is more’. If you’ve got a blog, a Twitter account and a Facebook fan page, it’s not wise to split traffic between them. Instead, focus on the most lucrative resource and use the others to drive traffic towards it. For example, say you run a popular blog which sells advertising space. Instead of splitting traffic between your different accounts, use them to direct traffic towards the blog. This will boost the value of your advertising space, increase your influence, and make you a more attractive selection for online advertisers and sponsors.
Written by Andrea Kalli
EMAIL Andrea.
Andrea Kalli is the owner of Andrea Kalli Virtual Trainer and Assistant, LLC, the Productivity Club, and the Small Business Podcast Directory. Her focus is on Internet and Social Media Marketing, Creating Wordpress Websites and Blogs, Keyword Research and SEO, Product Launch Support, Content Management and Repurposing, and Audio and Video Editing.
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