Have you gained a large following on your social media account? It could be time to turn your hobby into your full time job or side hustle.
Being a social media influencer allows you to make money doing what you love – creating content and connecting with people.
Figuring out how to earn profits from your social media account can seem daunting – that’s why LEADERS is here to help you. We’re going to go through some of the best ways to maximize your earnings from social media and make the most out of the creator features on Instagram, TikTok and YouTube.
Instagram offers great opportunities for creators to earn money from their accounts. Some of these include:
- Sponsored content: Creators can form partnerships with brands who will pay for them to post content promoting their product service. Branded content is a great option if you are looking for a more simple way to earn money from posting – but it is not always easy. You must make sure that you have mastered your niche and have a strong community if you want a brand to see you as a good option to partner with.
- Badges: Creators can ask their followers for support by selling badges during their live streams. When a viewer purchases a badge, a heart will appear beside their name on the live stream, notifying the creator that they have purchased a badge.
- Merchandise: If you are a business owner, you can tag your products in your posts and stories in hopes of increasing your sales.
- Bonus programs: Instagram currently offers a bonus program for creators in the U.S who can earn money based on the number of plays they get on their Reels.
TikTok has quickly blown up and become one of the largest social media platforms used today. The number of TikTok influencers is continuously growing as creators are recognizing the potential to make high profits on the platform. To earn money on TikTok, influencers have a few options:
- Creator Fund: Once creators in the US, France, UK, Germany, Spain or Italy have reached 10,000 followers, they are eligible to join the TikTok Creator Fund. With the creator fund, influencers can earn money based on how many views they get, engagement rates, etc.
- Merchandise: Once you have built up a large enough audience of engaged users, a good option to earn extra money is selling merchandise and promoting it in your videos.
- Virtual Gifts: During live streams, users can purchase a “virtual gift” that they would like to send to the creator. This can be a great way to earn money if a creator has high view rates during their live streams.
- Brand Partnerships: Similar to Instagram, TikTok creators can form partnerships with brands who will pay them to create videos showcasing their product or service.
Youtube Partner Program
- Advertising: One of the most popular ways to make money as a YouTube creator is to include ads on your channel. Ads on YouTube can come in 4 different formats, including short skippable ads, non-skippable ads, short non-skippable ads before your video starts, and overlay ads that appear on your screen during your video.
- Memberships: If a creator has more than 1,000 subscribers, they are eligible to charge a channel membership fee. When paying a membership fee, users get exclusive access to content, badges, etc.
- Merchandise: Similar to Instagram and TikTok, YouTube influencers can create and sell merchandise. This is a good option if you have built a strong community and believe that your followers will want to purchase your merchandise to support you.
- YouTube Premium Revenue: Users have the option to purchase a YouTube Premium Subscription. What does this mean for creators? If a user with a premium subscription watches your video, you will earn a small profit.