Everyone knows social media and most of us also make use of social media platforms such as Snapchat, Facebook, Instagram, and Twitter.
But do you know that you can also make money on social media? Yes, you can make money on social media without a product. You do not need a product to make money. Today I’m gonna share with you 5 ways you can monetize your social media audience without a product.
5 Best Ways to Make Money on Social Media without Product
#1 Promote Someone Else Product
The first tip and the first strategy, and this one’s really simple, is just going and promoting someone else’s product. Whether it’s from the affiliate rake, or they’re paying you a specific cost per promotion, or whatever it may be, why not just promote someone else’s product?
For example, I have a huge social media following, or at least I think it’s a decent size, for anything marketing related.
So if I go out there and I say, hey you should go use ICICI Direct or Zerodha or LIC Policy. I have many blog posts like this. Now, I don’t have a deal with them, and I don’t have an affiliate rake or anything like that with these guys, but if I wanted to, I probably could get one.
I can drive revenue from the and it’s really easy to convince them hey, I want a commission.
Most of these guys already have affiliate programs at the bottom of their websites. All you have to do is sign up, and use that link whenever you’re talking about them on the social web.
You can even go to sites like Amazon, and Best Buy. They all have affiliate offerings and pages. Almost all big companies are doing affiliate marketing, so it’s effortless for you to go pick any type of product out there that’s related to your audience and sell it.
#2 Partner with Product Company
The second strategy I have for you is to partner with someone who has a product but doesn’t have an audience.
Here’s what I mean by that. These days, influencer marketing is huge. When you put a brand, a personal brand, behind a product, you can crush it.
When you have good social media following you can deal with other companies, and they’d be like, oh wait, you have a product, I have a brand, let’s partner up and I’ll be the face of your product, and let’s make this thing big.
So if you find someone with an amazing product, but no personal brand behind it, you could be that personal brand. Think about how cool that is. You can promote it, do really well for them, and you can take a cut of the business. Not just a cut of whatever sales you drive, but you can get a fraction of that business. Could be 2, 3%, 5%, or 10%, whatever it may be.
#3 Place Ad within your Videos
The third strategy I have for you is just to place ads within your videos. If you’re on social media, create videos and put ’em on sites like YouTube.
They’ll automatically put ads for you if you wanna monetize it. Yes, you’re not gonna be the richest person, but you can easily make money every month.
That may not seem like a lot, but it could give you enough flexibility and freedom where you don’t have to work for someone else.
It’s a very good way of making money. Money isn’t everything in this world. Making enough to be happy and having that financial freedom. So don’t always shoot for making the most amount of money, also aim for financial freedom.
And by just putting ads on your videos, or if you have a WordPress site you can allow them to monetize and you can let them make you money in promoting those articles via social media. It’s an amazing way to end up making free money or little, or easy money, from ads.
#4 Influencer Marketing
The fourth strategy I have for you is influencer marketing. You see it on Instagram all the time. People promote other people’s products, by taking pictures. And they’re not getting paid per sale. They’re usually not getting paid on an “ad basis”, they’re getting paid to be like an influencer, and they’re getting paid for, let’s say, three months, six months, or a year. They have a contract.
And they post typically one picture a month or once a week, and they get paid a monthly salary. That’s an amazing, easy, awesome way to make money if you have a social following.
#5 Premium Content
Premium content. Here’s what I mean by this. You can create exclusive, more detailed, thorough articles or exclusive videos by big brands promote on social media, and make money out of it.
For this, you need to learn how to create exclusive or premium content and you must have a good fan following on social media. You need to start doing this and you can make money.
I hope these tips help you monetize your social profile. It’s not that hard. You just gotta put in the time and effort and be patient, keep tweaking. One model may be better for you than the other one.
But you won’t know unless you test them all. So just try them out. Think of it as spaghetti, throw it against the wall, see what works and sticks, and then just move forward with that.