How to Make Money on Social Media 2020

Social media is a very powerful thing it can give you fame overnight and can make you a millionaire overnight.

Don’t believe me?

Me neither, I used to think that social media is just a platform to connect with people but then I thought of making money on social media.

I researched and found ways by which we can leverage social media to earn passive money.

In this article I am going to discuss all those methods using which you will know how to make money on social media.

But before you move on to the list there are few things which you should know so as to start making money.

How to Make Money on Social Media

How to start a social networking site and make money

Select a niche: Don’t follow anyone, what niche working for them may not work for you.

You have to do what you love to do otherwise you will get bores after a point of time and stop working.

Master a platform: There are many platforms in social media like Facebook, Instagram, snapchat, YouTube, Pinterest, and many more.

You can’t focus on everything at once you just have to select one of which you have good knowledge and master yourself on that.

Increase engagement rate: Engagement means how much your audience engages with your post, how many of them react, how many of your followers comment on your post.

You have to increase your engagement so that when you post something they take time to read it and are forced to take some action over it.

Don’t afraid to give free stuffs: after reading the above point you must be questioning how can I increase my engagement then giving away free stuffs is one of the best ways which is used by top marketers.

If you follow all this steps I mentioned above then by going of any one of the methods mentioned below you can earn money you can’t even imagine.

List of ways to make money on social media

  • Be a social media manager

If you know how to handle your multiple social media accounts then there is a chance you can handle others too.

There are many companies who are busy increasing their sale so much that they don’t have time to handle their social media account.

Be their helping hand and they will pay you in return for your service.

  • Affiliate marketing 

Don’t be afraid of this term, it is more simple then you can imagine. Let me explain it to you.

You have a lot of followers who are ready to buy the thing you are going to recommend them.

Companies want to sell their product but don’t have followers like yours.

So they will give you a link and when anyone purchases that product then the company will give some percentage of its price as commission for your sale.

  • Promote posts and businesses 

You can also promote other’s posts and businesses in your social media where you have huge followers so that they will get to know about them and increase their recognition.

  • Promote your service 

Instead of promoting others you can develop your own product or service and promote it on your social media account.

Your followers will know you better and there are chances that they are going to buy your products or service you are offering to them.

  • Sell your skills 

Everyone has certain skills; there is also something you are good at.

As I am good at writing, a friend of mine is good at making logos another friend is good at web development.

We all are offering our skills to someone who can pay us for that. 

So you need to find what you are good at, and then enhance your skill. Give free service to others in return for their feedback.

When you become good at it set your price and start charging for your service as once a great man said “when you are good at something never do it for free”. 

Conclusion

If you have skills nobody can stop you to make money from social media, you just need the right skill and platform to sell your skill and earn money from it.

I hope this article will help you a lot to give you a direction to start making money on social media.

Best Social Media Platform to Make Money

1). YouTube 

Every day, five billion YouTube videos are watched around the world. Top YouTubers can make millions each year, and that includes 5 year-olds. Take PewDiePie who has made more than $15 million filming himself playing video games. But you don’t need millions of viewers to make moneey on YouTube.

2). Facebook

Build community, increase fan Likes to do other brand’s promotions or sell it to others. Run your own page & earn through lead generation advertisements.

3). Twitter

Build communities & do promotions for other brands & impact trending.

4). TikTok

You can earn money on TikTok only if you get sponsorship opportunities.

5). Instagram 

Build community, increase fan Likes to do other brand’s promotions or sell it to others. Run your own page & earn through lead generation advertisements. Like Facebook.

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