We know how important social media is for getting the word out about your business and connecting with your customers. But it’s good for more than those connections. You can also make money on social media!
If you’ve never used social media for your business before, don’t be deterred about learning a new skill. Even technology beginners can master and use social media platforms to maximize their small business income. Here are a few simple-to-implement, actionable tips for how your small business can make money on social media.
1. Earn Commissions Through Sponsored Posts
One way your small business can earn money from social media is by promoting the products or services of other businesses. This is known as “sponsored posting” and it’s a direct way to make money on social media. A brand will sponsor posts to show up on relevant pages, and when a user clicks on that ad, you get paid. This is a good way to leverage a large following on social media.
Most social media platforms have a sponsored post setup. Twitter even has a direct link to sign up for their sponsored posts. Visit Sponsored Tweets to match your company with relevant topics and start earning money with each relevant tweet.
Amazon makes it simple to promote affiliate products through its Amazon Associate program. Each time a sale is made from the link you share, Amazon pays you a small percentage. For more information on getting started with the Amazon Affiliate program, visit their webpage.
2. Get Paid for Reviewing Affiliate Products
Another way to make money through social media is by reviewing affiliate products. Companies will seek out reviews from other companies with similar customer bases, and they’ll pay for them. For example, say you run a salon. A shampoo company might ask you to publish a review of their newest product on your blog. They get their brand in front of new customers and you get paid.
One caveat: The law requires all affiliates to disclose their affiliate relationships. For more on this law, review FTC Affiliate Disclosure – Ultimate Guide. Disclosing sponsored posts isn’t just the law, it’s also a good business practice that promotes honesty with your followers.
3. Sell Your Own Products or Services
Another way to use social media to make money for your small business is by selling your own products. You can turn your social media accounts into a sales funnel for your businesses’ products or services. In fact, some social media sites allow you to turn your social media accounts into virtual online stores.
For more information on how to sell your products or services online, visit Business News Daily’s article 7 Social Media Selling Solutions for Small Businesses. Explore which platforms are the best fit for your own small business sales and marketing needs and then track numbers to record sales.
