Ways to monetize your social networks and bring results to your company! – WAU
The idea of making money on the internet is a controversial subject, due to the great difference of thought that exists on the subject. On the one hand, there are those who think that there is a formula for success that involves little effort, a lot of profit and an infallible model that lasts forever. On the other, are the […]
The idea of making money on the internet is a controversial subject, due to the great difference of thought that exists on the subject.
On the one hand, there are those who think that there is a formula for success that involves little effort, a lot of profit and an infallible model that lasts forever.
On the other hand, there are those totally disbelieving in the idea, who think it is the most silly thing to think that it is possible to earn money with something done just to pass the time.
The right thought is in the middle, far from these two extremes. It is possible to monetize your social networks and earn money sustainably with them.
But it involves a lot of work and, above all, careful planning. See what you need to know to succeed in this desired market!
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Are social networks a good market?
Before thinking about making money on social media, you need to answer the question above. Fortunately, it doesn’t take long to determine whether the social media market is profitable and promising.
Just look at the number of active users of the main social networks today:
Such impressive numbers indicate something very important: no matter what type of audience you want to reach, it is very likely that it is on social media.
In addition, social networks are very fertile ground for business. It is no coincidence that 94.4% of London companies use this channel to attract and retain customers.
The data shows that this heavy investment has paid off. Therefore, it is clear that it is worth investing in social networks as the ground for a digital enterprise.
3 essential elements for monetization to work
The market is good, but to think that you will make easy money without making any effort is a big mistake. In fact, the figures above teach a cruel truth: building a business on social networks is not for everyone.
While many people think that it is enough to create a legal profile and copy what worked in other strategies, the reality is that the competition is very strong and intense.
Only with the following 3 elements can you survive and profit from this digital market share:
High traffic means that your message reaches a lot of people. And the more people you reach, the greater the perceived value it will generate.
The human being seeks constant validation in the actions of others. In other words, if 100,000 people follow you, it will be much easier to get another 100,000.
On the other hand, if your profile has almost no fans or followers, people will find that it is not relevant and will hardly pay attention to what you say.
If people don’t pay attention to what you publish, which is free, how are they going to buy something of yours or buy products that you recommend for them? Traffic is key to making money on social media.
If receiving visitors and gaining followers is important to increase your reach, engagement is even more important. It determines how much your thousands of followers listen to what you say.
So engagement is what really makes your fans buy what you sell or recommend. Too much traffic without engagement also doesn’t result in profit. It is important to have both.
The purpose of the brand is what people need to perceive from you to awaken the desire to consume. Otherwise, you can even earn money, but at a level far below what you would expect.
The brand purpose becomes present when you generate value through relevant content for your audience well before trying to push products into it.
Fans must first feel that their desire is to help, and that they are able to do so. Then the principle of reciprocity will come into play and they will be inclined to do the same.
3 ways to monetize your social networks right now
There are many ways to make money on social media. Between direct and indirect ways, you can choose the ones that most have to do with the entrepreneurial style you want to be.
Nothing prevents you from using more than one tactic to monetize your profile or page. Just remember to focus on each one. The main ways to profit from social media are:
1. Sale of own products and services
Do you have any product or service, whether physical or digital? You can use social networks as a platform to gain attention and sell them directly on these channels.
Some examples of products and services that you can sell are:
- e-books and digital tools;
- online or in-person courses;
- consultancy or provision of specific services;
- among others.
In some cases, your product or service is not so easy to sell directly. Thus, it pays more to use social networks to generate leads.
2. Affiliate marketing
Affiliate marketing consists of recommending products to others for your audience, using specific links. As soon as someone makes a purchase using your link, you receive a commission for the sale.
The good thing about affiliate marketing is that you don’t even have to worry about creating and maintaining a product. You can focus only on building your audience and choose quality products to indicate.
3. Video marketing
Video marketing follows the same line as affiliate products. Just focus on producing quality video content and monetize it by placing ads.
If you become a digital influencer in your industry, you may also be invited by companies in the industry to make sponsored videos and even mix digital actions with face-to-face campaigns.
There are plenty of options to monetize your social networks. But don’t forget: this will be your job, and you will have to treat it as professionally as possible. If you do that, you’ll get a lot of traffic, engagement and you’ll be able to convince fans of your brand purpose.
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