It’s free to join and there are tonnes of them. Everyone’s on them. We’re talking about social media – one of the most rapidly-growing mediums in the world. But how to get ahead in this fast-paced, constantly-evolving sphere? Let’s take a look at how to make money from social media.
Types of social media platforms
To get started, choose a social platform that suits you. There are tonnes out there, from the big to the small, so there’s bound to be something that suits your skills and personality. Here’s a rundown of the main players:
- Facebook – phenomenally popular friend-based social network. Used by individuals, brands and companies of all shapes and sizes
- Instagram and Pinterest – image-based, visual platforms. Popular with retailers, bloggers and fashion and lifestyle brands
- Twitter – ‘microblogging’ platform, perfect for when you have something (short to say)
- LinkedIn – business-based social platform. Good for getting a job, developing an online profile and sparking industry discussion
- YouTube – video-based social platform. See our separate guide to making money from YouTube
How to make money from social media
Like with blogging and YouTube, when it comes to generating cash from social media, there are no guarantees. But if you’re willing to put the work in, it could work out for you. Here are some of the main social media revenue streams.
Do a course in social media
If social really is your bag, consider doing a course in it. If you study a marketing degree then social media will also certainly be a part of it, but doing a course solely dedicated to social is a great way to learn more about it and get a foothold in the industry. There are tonnes of short course in social media out there, at reasonable fees too. Birmingham City University also offers an MA in social media. Sure, doing a course in social media will involve an initial outlay, but it could well propel you into the world of professional social media work.If you’re considering taking a course in social media, you may want to consider how a payday loan can help you to afford the costs of the course in a quick and efficient way.
Post sponsored content
IF you have a big social media following, then this is the one for you. Earn some money from social media by publishing what are known as ‘sponsored’ posts – here, you would talk about a brand in a positive light or promote one of their products. In return, brands will pay you to do so. This is particularly popular in the world of blogging. But if you don’t have a big following, it’s not for you.
Sell your handiwork
Want to turn a passion into a profit? Then start selling your wares on social media. Whether you make pop culture posters, pin badges, wooden iPhone stands or something else entirely, have a go at turning your hobby into a revenue stream. Pinterest is a particularly good platform to do this on. With thousands of people looking at the network each month, all you need is to take some high-quality pictures of your handiwork and you’re good to go. Which leads us nicely onto our next point…
Set up an Instagram shop
About 150 million people all over the world use Instagram on a regular basis. This makes it a great place through which to make some money. Its visual basis makes it an easy platform on which you can share quality images of the things you make and sell. Instagram is particularly good for:
- Fitness equipment
It also has a young audience – 90% of Instagram users are under the age of 35 – and thought to weight generally more towards females. This, therefore, exposes you to a market that probably a) enjoys shopping and b) has a few quid to spend.
Work as a freelance social media manager or copywriter
As well as pursuing a formal route into professional social media work, you could market yourself as a social media star for hire. On sites like Copify you can pick up social media writing jobs and PeoplePerHour is good if you’re looking to do some social media management. It’s not always well paid but it’s a good way to get your name about and build up some useful experience, as well as examples of work.
Generic advice is not a service regulated by the Financial Conduct Authority.