6 Ways YOU can Make Money on Social Media
Episode #182 the Wingnut Social Podcast
Making money on social media can seem SO complicated. But the truth is, anyone can do it. You don’t have to have millions of followers or snag sponsorship deals (well, that helps, too). In this Monday Marketing Minisode, Darla and Natalie count the 6 ways YOU can make money on social media. Don’t miss it!
What You’ll Hear On This Episode of Wingnut Social
- [0:36] Natalie’s Big Green Egg
- [3:02] #1: Instagram Shops
- [3:58] #2: Facebook Paid Live Events
- [4:43] #3: YouTube Partner Program
- [7:55] #4: Twitter Pre-roll
- [9:17] #5: LinkedIn Events
- [10:14] #6: TikTok’s Creator fund
- [11:40] The disadvantages to monetization
- [14:02] Blooper Reel!
Resources & People Mentioned
#1: Instagram Shops
Did you know people can shop your products on Instagram? The one caveat is that you need to sell physical goods like pillows, t-shirts, pottery, art, etc. Users can shop through your products right from the app. You’ll have to use a business account connected to a Facebook page and a catalog (i.e. a Shopify site). But once Instagram approves your shop, you get to rake in the cash.
#2: Facebook Paid Live Events
Facebook lets you monetize your event with a one-time access charge that’s collected when your guests register. You just have to apply and undergo a review process to find out if you’re eligible. Darla and Natalie might be collaborating on a webinar soon, so stay tuned! (To hear more about Facebook monetization, check out episode 175)
#3: YouTube’s Partner Program
YouTube is currently the #1 way to make money with social media. You can actually make a living from it. The downside is that you have to have at least 1,000 subscribers and over 4,000 valid public watch hours in the last 12 months. It’s a lot of work, but there are 5 ways you can make money on the platform:
- Advertising Revenue
- Channel memberships
- Merchandise Shelf
- Superchat and Super Stickers
- YouTube Premium Revenue (Subscription Fee)
Listen to learn more about the avenues you can take! Also, check out Wingnut episode 171 for the full story on Mid-rolls.
#4: Twitter Pre-roll
Twitter isn’t usually an effective medium for interior designers, but if you have thousands of followers on Twitter, you can capitalize on this. Twitter now allows you to add pre-roll to monetize the video content you share on Twitter. To do this, your content has to be deemed safe and you have to be accepted into the program. Bonus: You can choose which videos will get ads and even who gets to advertise on them.
#5: LinkedIn Events
LinkedIn isn’t just for business connections. You can create events and use the platform to promote an online OR in-person event. You provide a link to an external ticketing site. The best part? You can also bring in a third-party to help manage the page + event.
#6: TikTok’s Creator fund
Last but not least, Darla’s favorite platform has launched a creator fund. Basically, TikTok is offering money to people to create content on TikTok. It will pay prominent creators for original video content. If you meet the requirements, you should see a notification in your inbox (under “All Activity” and “From TikTok”) that notifies you that you’re eligible to apply for the creator fund. What are the eligibility requirements?
- You have to be 18 or older
- Have at least 10,000 followers
- Have 10,000+ views in 30 days
- Read and agree to the TikTok Creator Fund agreement
- Live in the US, the UK, Germany, Italy, France and Spain
Once approved, you can start making money from your content. If you have videos with thousands of watches? Cha-ching.
Why should you monetize your accounts? How does it help your business? Are there any disadvantages? Listen to the whole minisode to find out!
Connect With Darla & Wingnut Social
- On Facebook
- On Twitter: @WingnutSocial
- On Instagram: @WingnutSocial
- Darla’s Interior Design Website
- Check out the Wingnut Social Media Lab Facebook Group!
- 1-877-WINGNUT (connect with us for your social media marketing needs)
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