What Is Social Media Monetization?
At Adwizar, we've helped a diverse range of clients gain followers on Instagram, Facebook and other social platforms – social media growth is kind of our bread and butter. But all too often, people looking to build an audience on social media are only focused on the growth aspect: they're only thinking about how to gain followers. But to truly make a career as a social media influencer, you can't just have a large following. You have to know how to monetize.
Why You Should Monetize Followers on Social Media
Monetization is the stage where everything comes together. While growth is always important, once your follower count reaches a certain level, you can start monetizing it to create revenue. Unfortunately, many people either forget to think about monetization entirely or fail to see all the opportunities to monetize social media. In either of these cases, you're just leaving money on the table. Monetization should be a core part of your social strategy straight from day one.
How to Monetize Social Media
So how do you monetize, exactly? The beauty of social media is it offers so many different angles for monetization, and you can often use all or most of them at once. At Adwizar, we take a multi-pronged approach to monetization, focusing on a number of different strategies for generating revenue:
- Sponsored Posts: One of the most popular and simplest ways to monetize, this is where you team up with a brand or advertiser to feature a product in a sponsored post.
- Video Monetization: For influencers with video content, video ads present another great option for monetization.
- Endorsements: Endorsements or brand pairings are another popular way to monetize. Sometimes, the monetization may be more of a barter than a flat cash payment – for example, when guitar companies give certain players instruments for free.
- Branded Content: Sharing branded content can allow you to earn money based on the performance of the post, providing a great option for influencers with strong engagement.
- Commission: By sharing affiliate links, you can earn a commission on sales.
