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How to Make Money with Your Social Media Accounts

How to Make Money with Your Social Media Accounts

Think about this: 29.3 million people are currently scrolling through social media pages in Nigeria. And this figure is projected to grow to 36.8million in 2023, a figured disclosed by Global Statista. While most of them spend an average of 3 hours 17 minutes liking pictures and retweeting tweets without pay, 30% of people make NGN 30 -300K for every picture, like, or comment. Talk about turning passion into an out-of-hours money-spinner.

This is the case of the digital world we live in. And the beauty of social media is that while it can serve as a source of information and entertainment, it can be the key to give your finances a boost. Here’s how:

  1. SELECT A PLATFORM

Decide on which platform you want to make money from. All social media networks offer great opportunities for social marketing but you will need to prioritize one. This is essential for the creation of your sales strategy. According to Business Insider, WhatsApp has the most active social users of 85%, followed by Facebook at 78%, Instagram at 57%, and YouTube at 53% as of 2019.

  1. FOCUS ON A NICHE

Most social media accounts have a case of content clutter without a specific demographic in mind. However, to earn a living through social media requires you to focus on a specific area of expertise. This is followed by posting quality and relevant content in that niche to appeal to the audience. Bear in mind, your post has to be consistent, relevant, and exciting to attract people to your page.

  1. USE VISUALS

Like the popular saying, pictures speak louder than words. The digital world is moving towards video marketing and storytelling. Take that opportunity to showcase your products or services to potential customers. It will make you appealing to social media users and brands. Not only will you have more following/hits, but they would also translate to sales. In the world were brands are leveraging on social marketing to reach consumers, your page can get signed up for influencer marketing. You should consider Instagram and YouTube for this.

  1. JOIN A NETWORK OF INFLUENCERS

Often time, people forget the ‘social’ part of social media. Stay connected and build meaningful relationships with those people in your niche. Join networks made for influencers. By doing this, you stay connected to brands, followers, and trends that can build your profile. If you join one of these networks, it will be easier for brands to find you if they have a product or service related to your content.

  1. CONSIDER AFFILIATE MARKETING

Affiliate marketing is a money-making machine for social media. It’s simple. It is earning a commission for promoting/ driving traffic someone’s product on your page. Most affiliate networks will require you to have a lot of followers, quality content, and monthly views. That means if you can follow the steps mentioned earlier, you are good enough to become an affiliate partner.

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