4 Ways to Monetize your Social Media in 2020
Written by: SPP Editorial Team
How to Monetize your Social Media in 2020
What does “monetize” even mean anyways?
The definition of monetize is: to convert into or express in the form of currency.
Did you know that there are many ways to monetize on your social media accounts?
Are you ready to monetize all of your Social Media Accounts in 2020?
Activate your fans, don’t just collect them like baseball cards. ~ Jay Baer
Today, we are going to discuss 4 Ways you can monetize your social media accounts in 2020.
Here are our 4 Ways to start earning:
- Valuable Content Sharing
- Sell a product or service
- Generate leads from your followers
- Monetize on Referral Traffic
Related Reads: Social Media Today – 3 Ways to Monetize Social Media
Valuable Content Sharing
First, when starting to think about how to monetize your social media, it is a good idea to start off with a niche and determine a mission you are passionate about.
What are you passionate about?
For example, you are passionate about good health.. your mission could be “helping others achieve good health.” Now that you’ve determined your mission, now you can focus on sharing valuable content around this space. Sharing constantly and with generosity, in time, will bring the right people around your business. You can then begin to develop a tone of voice and messaging that will develop into your own personal brand.
You can use free sources like Canva to build branded templates for posts. Play around with images or quotes of your own and weave in valuable content from other sources.
Here are a few examples of content to share:
- Blog Posts
- Inspiring Messages (Always give credit where it’s due)
Once you’ve began to build out your personal brand, you can share your thoughts on the content you shared or even the “key takeaways” you found most helpful. If it’s something you believe is worth sharing with others, go for it and write how it made you feel or inspired you in some way.
Related Reads: Must Have Checklist to Creating Valuable Content
Sell a product or service
We’ve all seen people who sell products online. A good rule of thumb here is to remember that people want to be “social” on social media, not sold. There are ways to have a product or service to sell but keep it 90% Educational and Inspiring and the last 10% Sales. If you have built up an engaging niche around a product or service, there are great odds these people will end up buying from you.
Ask yourself these questions:
- What are your strengths?
- What services can I provide to others?
Have you reflected on your strengths and the types of services you can provide? Next, you can then build content that educates people around this product or service.
What do people want to know about this industry?
Still not sure what product or service to sell?
Here is a list of digital products you can try(brought to you by Sellfy):
- Poetry book
- Ecommerce product descriptions
- Copywriting templates
- Recipe books
- Document templates
- Reports/analytics templates
- Email campaign templates (upselling, cross-selling, re-engagement, etc.)
Here is a list of services you can provide:
- Fitness Coaching
- Business Coaching
- Digital Marketing Services
- Digital Advertising Services
- Graphic Design Services
- VA Services
- Administrative Services
Once you feel confident in your choice of product or service, now you’ll need to market yourself a little bit. People want to see you as a leader in this industry, and your social media needs to reflect that. For example, you can update your LinkedIn headline with a Unique Value Proposition. Learn how to create a killer Unique Value Proposition here. It can be helpful to have a way for someone to book an appointment with you if you are selling a service. Calendly is a great option.
Related Reads: 4 Ways to Use Social Media to Sell Your Products
Generate leads from your followers
Here are 2 things you’ll want to determine before effectively getting leads on social media.
- What type of lead do you want to capture?
This is all going to depend on the business you are in, but an example might be a contact form submission. The goal is to ask the visitor for their name and contact information so that you can contact them at a later time. You can share more about your product or service or schedule a sales call. Another example is an email list subscriber. This is where you ask a visitor for their name and email address too so you can add them to your email list. Perhaps you can send them promotions, updates or newsletters about your business. It is best to get permission to do so.
2. Page to capture your lead
For a contact form submission, you’ll possibly have a page on your website where your contact form is located. Another good rule of thumb is to focus on one business goal at a time. The page will be dedicated to focusing on the visitor submitting their contact information. What happens if they take the next step? You are one step closer to a purchase! The goal of the page is to capture your lead!!
*Focus away your attention from links and information about your business. The last thing you’d want to do is confuse your future customers.
For Email List Subscription, you will need a landing page for your lead. Here are some landing page software tools you can look into referenced by GMP.
Related Reads: How to generate leads on Instagram
Monetize on Referral Traffic
I can’t express enough how important it is to find a product you are passionate about. As a result of finding a great product that offer pretty referral incentives, you’re likely to provide more in value if you are referring a product you are genuinely passionate about. If you are the type to person to use the products you intend to refer, there will be that much more of a connection with your audience because you personally have experienced the product.
Do some research before signing up for a referral program. There are many businesses that require you to post a specific number of times or advertise ext.
At Social Panda Pros, our referral program is pressure free, and offers individuals 15% Commission per deal. In result, gives the opportunity for gyms to reach more people online.
Related Reads: A 5-Step Guide to Making Money on Referral Programs
Now that you’ve learned 4 Way to Monetize on your Social Media Accounts, the time is now to start turning your social media accounts into money making accounts! There are many other ways to make money off your social media accounts, like media campaigns on social. The longer you wait, the more Facebook is going to prices on us all.
Grateful for this opportunity to share with the world our purpose.
Our purpose is to help bring awareness to the health and fitness industry. We want to help gyms spread the word of how important your “why” is when going after any goal.
Need More Information about us?
Check out our services here —> Social Panda Pro’s Services
Or Connect with Us Below