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How to monetise your social media channels

3 min read

Back to Blog

3 min read

How to monetise your social media channels

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Posted in Social Media on 6th September 2015 9:00 am

Wouldn’t it be fantastic to sit posting on Twitter and Facebook and watching the money roll in? It’s not such a far-fetched idea; social media marketing is typically an outreach service to communicate with potential B2B and B2C customers to attract them to your business. Make a few tweaks, though, and your social media channels can be working for you in different ways, attracting extra income as well as the right kind of customer.

The clue is in the name. Social media is a fantastic way to start conversations and build relationships with people, and the best way to monetise your networks is to keep yourself open to opportunities and attract interest from potential business partnerships and more. The absolute most basic thing you have to concentrate on first, though, is building a relevant audience of potential customers and people that will engage with your brand.

If you’re marketing through social media then it’s pivotal not only to target the right people, but to communicate with them as well and join in on discussions to show that you’re a brand that listens and has their best interests at heart. Unless you have a growing, relevant audience that you can communicate with on a one-to-one level then you’re going to find monetising your social media accounts difficult. Again, the key word here is social.

Tips on monetising your social media channels

– Affiliate promotions

There are a number of affiliate social networks that people can sign up to push products through their own social media accounts and get a commission on any sales that are made. The right affiliate network can help you promote other products that you might not sell to your audience, as well as being relevant enough for your current followers. This approach is perfect for brands that don’t have too many of their own products to sell and instead provide services to people.

– Sponsored posts

If you have a well-defined audience and have built up a strong list of connected followers then you may be able to form social partnerships with other people that might benefit. Paid sponsored social posts have been helping companies generate interest for years; if it’s something you’re interested in doing, though, make sure the content is clearly labelled as sponsored as the ASA has some clear rules on sponsored content promotions.

– Lead opportunities

Most major social media platforms now have lead generation options to help businesses promote products and services over social media. Twitter, for instance, has lead generation cards while marketers are able to create sponsored posts with calls to action on their Facebook pages. This can put an immediate spotlight on what your company offers, and for a small investment can bring about an impressive ROI.

There are many other ways to earn money with your social media accounts including visual partnerships through the likes of Instagram, Pinterest, Snapchat and more. But first and foremost you need to remember to concentrate on your audience, and strategise to keep them happy, entertained, and educated at all times. If you are interested in our social media services, contact us here!

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