How to Make Money on Social Media 2023: 7 Ways You Haven’t Tried Yet

Social media platforms such as Facebook, Instagram, Twitter, and TikTok have millions of active users every day, providing numerous opportunities for revenue generation.

This article discusses several possible ways to make money on social media. Whether you’re an influencer, blogger, or business owner, these strategies can help you increase your income.

1. Linkr – An all-in-one monetization platform

Linkr allows you to earn money from your most dedicated followers. This is achieved by gathering all social media followers on Instagram, Twitter, Facebook, YouTube, TikTok, etc., into one place.

First, create one or more “link in bio” pages. These are like mini websites where you can offer paid membership services, open a store to sell products, and even create a private community to engage with your customers and encourage more purchases.

🤑 Learn how to make money through Linkr:

• 7 Popular Ways to Earn Money with Link in Bio >
• 6 Tips to Monetize Your Linkr Membership Posts >
• 6 Strategies to Make Money with Linkr Creator Store >

2. Paid memberships or subscriptions

Another way to earn money on social media is through paid memberships or subscriptions. Encourage your followers to become subscribers to your tiered membership program in exchange for exclusive content and extra benefits.

💡 Here’s what to offer as membership benefits:

• Behind-the-scenes content
• Early access to new products
• Exclusive live events
• Personalized messages
• …

Make sure to communicate the value of your membership or subscription to your audience and price it accordingly.

3. Affiliate marketing

Affiliate marketing is a popular way of making money on social media, and it involves promoting products and services to your followers. When your followers make a purchase through your unique affiliate link, you earn a commission.

💡 Here are the steps to get started with affiliate marketing:

• Find the right product: Find relevant products with high conversion rates on platforms like Amazon, ClickBank, and ShareASale.
• Promote the product: Create high-quality content like reviews, tutorials, and demos to promote the product. Plus, use paid advertising to reach a bigger audience.
• Track your results: Use tools like Google Analytics to track your clicks, conversions, and revenue.

4. Selling your own products

While social media platforms like Instagram and Facebook make it easy to set up a shop and sell your products or services directly to your followers, managing multiple stores across different platforms can be difficult.

We encourage you to start your shop on Linkr. Whether you sell physical products or digital products, Linkr is an excellent platform for marketing your merchandise. It integrates with a QR code generator, provides data analytics, and offers secure payment processing.

👉 Learn more: Linkr Creator Store – The Ultimate Platform for Creator Monetization and Selling Products >

5. Online coaching and consultancy

If you have expertise in a particular field, you can offer online coaching and consultancy services through social media. This can include anything from personal coaching, business consultancy, or even fitness coaching.

For instance, Faith Anoh is a fitness trainer who shares daily instructional videos on TikTok. Interested viewers can visit her Linkr Store to purchase courses.

6. Sponsored posts

Sponsored posts are another great way to make money from social media. In sponsored posts, you collaborate with brands to promote their products or services to your audience.

💡 Check out the steps to make money with sponsored posts:

• Identify the right brands: Find relevant brands with a good reputation and contact them directly or use influencer marketing platforms such as Upfluence and AspireIQ.
• Create posts: Create quality content that aligns with your brand’s values and resonates with your audience.
• Negotiate your fees: Charge brands based on audience size, engagement rate, and content type. Be transparent with fees and demonstrate your value to the brand.

7. YouTube ad revenue

If you have a YouTube channel, you can earn money through ad revenue. Creators on YouTube can earn a portion of the advertising revenue generated by their videos.

To be eligible for monetization, your channel must meet specific requirements, such as having at least 1,000 subscribers and 4,000 watch hours within the last 12 months.

Conclusion

Social media offers excellent opportunities to make money. You can turn your passion into a profitable business with the above-mentioned ways to make money on social media.

Make the most of Linkr, the all-in-one monetization platform that allows you to create mini website(s), sell products in your own store, and offer membership services to dedicated followers.