What do you think about when you hear the word Social Media? For me, it’s marketing and opportunity. Now for the majority of the people who use Social Media, its sole purpose is to post their latest picture or talk about their recent events.
But did you know that Social Media can be a great way to earn residual income? It allows you to make money thanks to their ever-growing list of users.
According to Statista.com, approximately 77% of U.S. Americans had a social media profile. Now can you imagine how much money you can make if you can tap into a small percentage of that?
In this article, I will go over a list of things that can help you generate a residual income using Social Media. Without further ado, let’s get started!
Method #1. Sponsorships
Ever since Social Media became a thing, many people who have a large enough follower based became an instant influencer. This is because companies are always trying to make more money.
And in order for companies to make money, they need to have potential customers.
Now as an influencer, you have the potential customers plus you have somewhat of an influence on your followers as well. For example, let’s say you’re famous for fashion.
Now fashion companies may reach out to you and pay you in either money or products, so you can sponsor them.
Method #2. Affiliate Marketing
Now I notice that many Social Media platforms frown upon posting affiliate links because it is viewed as spam, but there are ways around it.
You can produce your own content on your own blog and post that on Social Media. Your content can contain affiliate links. If you’re not sure about how affiliate marketing works, please check out my Affiliate Marketing 101.
Now the reason why you should include affiliate marketing in your Social Media marketing strategy is that of how many people you can reach.
Using the right hashtags will get you noticed and hopefully land you a sale if your content delivers value.
Due to certain restrictions on Social Media. I highly recommend that you have your own website/blog. Also, if Social Media shuts down, so does your income if you’re depending on Social Media as your platform.
If you don’t have a website or a blog, you can get started today with my free WordPress installation service.
Method #3. Advertisements
Looking to get lots of people very fast for your offer? Platforms like YouTube, Facebook, Instagram, etc. All have their own advertising platform that enables you to make a killer living if done properly.
Just a few days ago, I bought a USB charging bracelet that I found on Instagram. I’m not sure about the quality, but their advertising campaign worked. At least they got me as a customer.
Note: This method does cost money, but what kind of business requires no expenses, right?
Method #4. Sell Your Own Products
Like I mentioned at first that I bought a USB charging bracelet that I found on Instagram. Instead of being the consumer, you can be a producer by using Social Media to promote your products.
You can either sell a product or generate a lead with promotional offers like spin the wheel to get a discount code or free shipping.
Method #5. Boost Visibility To Your Brand
Many Social Media platforms allow you to boost your visibility. This will not only get you more likes, shares, and followers but also more business.
Like an advertisement, this method will cost money. But it’s a small cost to pay if you want to build and grow your brand. It’s much faster than trying to build everything organically.
Personally, I prefer to build my brand organically. It takes time, but it will continue to drive me traffic and business without having to spend extra money to get a new customer each time.
Method #6. Promote Upcoming Products And Services
Do you have an upcoming product or service that you’re about to launch? Social Media is a great way to start promotions that can reach people who are targeted to your offer.
Again, the main power of Social Media is that they have a huge audience base that you can leverage. It’s like trying to look for a powerful horse. It’s much easier to find it in one concentrated area.
Steps To Take Before Trying To Make Money On Social Media
Step #1. Figuring Out The Market You’re In
Before proceeding with your residual income venture using Social Media. You should figure out the market you’re in. What are you trying to promote or sell? In other words, what is your niche?
There’s no point in trying to sell something when you don’t even know what you want to sell in the first place. Once you figure out the market you’re in. You can proceed with step #2.
Step #2. What are your selling points?
Once you’ve established what and who you are going to sell your products and services to. It’s time to generate a list of why people should buy your products and services (selling points).
What makes your products and services so special? After all, no matter which niche industry you’re trying to get into. You’ll have competitions. So why should someone pay you instead of the other competitors?
The point is, you need to stand out from the crowd. You want to be that special needle in the haystack. Once you have enough selling points, you can include that in your marketing campaign and that will help you generate more customers.
Step #3. Plan, Execute, Test, And Repeat
Now that you know your niche market and the best-selling points of your products. It’s time to plan it out and execute it. During this stage, you’ll have to test and repeat each step.
There’s never the perfect marketing strategy. It’s all based on trial and error. Once you have a little bit of success, you’ll want to exceed that as well.
For example, let’s say your products are selling fairly well, but you’re also getting negative feedback. Whether it is a product issue, website functionality, etc. You’ll want to adjust and learn from your mistakes. This will help you grow as an online entrepreneur.
As you can see, the opportunity is there when it comes to generating residual income using Social Media. In the end, it all boils down to choosing the one that works best for you as well as taking the right steps.
Without all the little pieces of puzzles along the way, you’ll have a hard time trying to get the full picture. Hopefully, this gives you an idea of how powerful of a tool Social Media can be to help you make money online.
Again, if you haven’t started building your own foundation (website). I strongly encourage you to take advantage of my free WordPress installation service.
If you don’t like it, most website hosting service providers will be more than happy to cancel your service and refund you the money within a certain period of time.
Other than that, if you have any questions, please leave a message down below and I will try my best to help you out!