People these days are always on their devices, whether it is texting or checking their social media accounts. While some Luddites may complain about young people and their screen time, opportunists may argue that social media provides an avenue for content creators to make a lucrative living doing what they enjoy. Can you make money from social media? The answer is yes, if you have the skills and determination. But the requirements for each platform vary widely. Let us look at the top four options.
YouTube
The original video content-sharing site is a good platform for starting a social media monetization career. You can upload videos of any length, subject, and genre as long as you have the rights to them. Once you gain a following on YouTube, you can start making money with ads and sponsored content. Membership in the YouTube Partner Program starts at 1,000 YouTube subscribers and 4,000 hours watched within the past 12 months. This will give you access to custom ads, channel memberships, and other revenue-generation opportunities. Outside of the official partnership, you can also earn money through audience tips, affiliate marketing, and the sale of merchandise related to your videos.
Best for: Video creators with a good camera and video editing skills. While YouTube is starting to encourage more short-form content, the majority of YouTube content is geared toward longer videos. If you like to publish tutorials, commentaries, and product reviews, YouTube is a good option for you.
TikTok
This short-form video-sharing app is immensely popular with young adults. It is also very encouraging of content creators, boasting its own creator fund to help prolific content creators succeed on the platform. This means that TikTok will actually pay you if you post quality content often! Another great way to make money on TikTok is through brand collaborations. Brands are always looking for creative influencers to promote their products through their posts, so you can make good money if you can get their attention. Once you have over 1,000 followers, you can also start live streaming. During your streams, you can receive donations or ‘coins’ from your followers that you can exchange for real money.
Best for: Short-form video creators with fun personalities who enjoy interacting with their followers. All you really need to get started on TikTok is a smartphone camera since the app comes with a built-in video editor. However, with so much content on TikTok, you must have a creative way to stand out from the crowd.
The popular photo-sharing app has millions of users worldwide and it is now integrating short-form videos to provide more value for content creators. The best way to make money from Instagram is to partner with brands to promote their products. You can get paid for each mention or get free products or services from your clients. Many content creators do this by posting reels of them unboxing or reviewing products. In addition, Instagram has an affiliate commerce program that allows you to promote products from other brands and receive a commission for every sale. If you have your own product line, you can make use of the Creator Shops feature to allow your followers to browse your store directly from the app.
Best for: Content creators who are passionate about photography and aesthetics. Although Instagram is now pushing short-form video content, a large proportion of its audience is still made of photography enthusiasts who expect high-quality visuals. To succeed on Instagram, you will need professional-level photos and videos.
One of the most popular social media platforms in the world, Facebook has an established advertising network that you can use to monetize your videos. The platform allows you to show ads on your videos and get paid each time they are viewed. Another way to make money on Facebook is to partner with brands and publish content through the Brand Collabs Manager. Brands who want to gain access to your audience will pay you to publish a post or video that is relevant to their offerings. Facebook has also created a way for you to monetize your community with subscription groups. Through this feature, you can charge people a monthly fee for membership to your group and access to exclusive content.
Best for: Content creators who are community builders. Facebook is all about interaction and you will need a strong following if you want to succeed on the platform. You must post often, engage with comments, and host live events to attract and retain followers who will convert into customers for your business.
All of the Above
With each social media platform trying to emulate the most successful features of its competition, it can be difficult to decide which platform to focus on. Some content creators post across all of them to reach as wide an audience as possible while others prefer to focus on only one channel. There is no right or wrong way to go about this so you should decide on a strategy that works best for you.
Review your skillset and strengths and think about how you can build a strong following on social media. Take a look at what your favorite content creators are doing and see what you can learn from them. With some creativity and dedication, you can create a social media presence that will generate a steady stream of income.