Social media has a lot of benefits and one of them is you can make money out of it. Social media, in fact, can be quite lucrative. Many pundits say that social media is for connecting and interacting with people only and not for selling and buying things but somehow at some point, you are going to leverage the connections you create without realizing it. If you have many followers, you have to make sure that they have trust in you so that whatever you post or say, they will believe and they will be more inclined to check out your page and try any products and services or recommendations that you share. According to Spotlight Communications, 85% of B2B marketers invest in social media to increase brand exposure, 69% to increase web traffic, and 65% to gain market insights. So, it is proven that social media works at making money. Even though it is a relatively new industry, there are already a number of ways to make money with social media.

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Social Media

Social media, when used correctly, can be a great asset to your organization. Whether your organization is commercial or non-profit, legacy or start-up, the ability to directly connect your organization with supporters can build loyalty and a stronger customer relationship than ever. Social media, like any other tool, needs to be used properly to maximize its performance.

Here are some common ways to profit through social media.

#1 Set Your Strategy

You should have a plan before starting to use social media. First, take some advice from your parents and relatives about thinking before you speak definitely holds true in social media, because what you say online will remain there and will spread very fast. Your sayings will be remembered (and recalled) for a long time. Thinking wisely before you talk or generally connect with individuals on the Internet is likewise vital on the grounds that it requires a long investment to build great connections however only a couple of sick picked words can harm a relationship hopelessly. This is the first reason why you ought to have a strategy to set up social media accounts.

Secondly, you need to know the content of your message and what do you actually want to say. This is literally a business common sense- on the off chance that you have a promoting and ad system set up as of now, you would prefer not to toss a torque into it and begin delivering another message altogether. The powerful message is the most planned message.

Lastly, you have to know that technology can be obsolete at any time. That is just the nature of technology. This year twitter maybe famous but who knows maybe by next year it will become less famous. Technology tools on social media change gradually. Do not rely on only one social network. Diversify your platforms and contacts too.

This is why it’s critical to craft a plan that delivers a message or set of messages that you want to convey and then push those messages out on the platforms where your customers are. If that platform happens to be only Twitter, then fine. But you need to open the conversation to your customers on whatever sites they are using.

#2 Promote affiliate products.

No matter what industry you’re in, you can find great products to promote on sites like Hermo and Lazada. Instead of spamming links on Twitter and hoping for the best, keep in mind that the most honest and effective way of promoting affiliate products is through reviews. If you personally use a product and like it, and know that your followers serve to benefit from it, then write a long-form review on your blog, and share why you like the product. Don’t be afraid to talk about what you like and don’t like about it. You can even use a video if that’s more into your style. Honest review and stars can be included in the website usually at the lower part of the page. Please make sure to disclose your affiliate relationships too. This is a legal requirement in most cases, but it’s also considered as  a “best practice.” Your readers or viewers will appreciate your honesty.

#3 Research Your Audience

Now the world has no barriers at all and your customers can come from every inch of the world. That is why it is important to know who your customer is. Know your customers and target audience geographically and demographically. During old days, it is easy to do business- as simple as hand a sign in front of your store, and people will come and buy if they feel like buying. Today, the competition is very intense and it’s harder than ever to find people with whom to do the business. However, it is always possible to find customers.

First, leverage the knowledge of people and organizations that have been in your shoes. They’re the experienced ones, the thought leaders and knowledge managers of your particular interest or business sector. Remember to find those who will have a direct connection to or interest in your efforts. You should ask your customers which social media platforms that they prefer or always use. This is the key to make profits on social media. If you focus on a platform with little attention, business can go on as usual. A lot of business owners assume that there’s some special trick to figuring out where their customers reside online. And while there are some ways to find this information on your own, you can do the easy task first and simply ask. Be proactive, too; it’s important to advertise that you are on the Internet, ready to be followed. Use the social media platform’s own tools to find out who’s on that platform. All you usually need are the email addresses of your customers to conduct such a search.

#4 Join Conversations

At first, you might be tempted to simply broadcast all that you think is great about your organization—the product, people, brand—all the qualities you love about your company. That’s a common place to start, but understand that if you keep doing that, the novelty will wear off quickly.

Remember, this is always a conversation, no matter what type of social media platform you’re working with. That means it can’t be a one-way broadcast of just the aspects of your business you find interesting. Be prepared to engage with your audience, just as you would if they were the customers in your store. It has to be a two-way communication. When you do this, you will tap into the main value of social media: you’re holding a conversation with someone, but everyone else can listen in. If the conversation ends well, people will look at this and think that you must have a business that’s interested in looking into the needs of its customers.

Article by Nabihah Jasri