There are a variety of ways to make money on social media as an influencer. The key is finding what makes sense for your audience, expertise and brand.
Playing to your strengths can help you stay motivated and engaged with your followers. For example, fitness influencers often share workout plans or healthy eating advice.
1. Sponsorship
When influencers have gained a following, they can collaborate with brands for sponsored content. This includes videos, posts on social media platforms, and website ads.
Sponsored content rates vary. It depends on the brand, type of content, and audience size. Influencers with large followers can command higher rates.
Affiliate marketing is a popular method for smaller influencers to make money. It involves the influencer promoting a product or service to their audience and then earning a commission when someone clicks through and buys the product.
Some influencers also end up creating their own line of products. For example, fitness trainers may release workout apps or meal plans to their followers. Others, like beauty bloggers, may create and sell their own products. This often requires a website to support the sale of merchandise.
2. Affiliate Marketing
Developing an affiliate marketing program is another way influencers make money. By sharing a special code or link to a product on social media, followers can purchase it directly from the company’s website and the influencer earns a commission on each sale.
Some influencers also partner with brands to create their own line of products, which can be very lucrative. This may require a substantial investment up front, but can pay off long-term.
Many influencers who have large TikTok followings work with mobile gaming companies to promote their apps and games. These relationships typically include a fixed fee for content as well as engagement rates.
3. Merchandise
Some influencers partner with a brand to promote a product in exchange for a flat fee. They might be asked to appear on the company’s Facebook Live page at regular intervals or participate in social media campaigns.
Many influencers also use affiliate marketing to earn money by linking to products they recommend on their websites. They then earn a commission when their audience clicks on the links or uses the code in their checkout.
Other influencers, especially those with a niche expertise, can make money by selling digital or physical products directly to their audiences. This is common among fitness, food, and finance influencers. They might offer a range of training options, sell an ebook of recipes, or set up subscriptions. When these arrangements are made, the influencers typically receive 1099 forms from the companies that they work with.
4. Digital Products
Digital products are one of the most popular ways influencers monetize their content. These products can include anything from an ebook to an online course. They’re typically easier for creators to create than physical products, and can help them earn passive income. Plus, they won’t have to worry about running out of inventory!
Many influencers use their large social following to promote brands and products to their followers. Whether they’re reviewing a new hair care product or recommending a king-sized mattress, their followers will often purchase the recommended product.
For some influencers, promoting products through sponsored posts is their full-time job. Others rely on this revenue stream to support themselves while working on other creative projects.
5. Direct Support
Once influencers have grown a following and built trust with their followers, they may decide to start selling merch. This is one of the fastest ways to make money as an influencer.
Some influencers even end up creating their own products after they gain popularity. This is known as an influencer collab.
For example, a food influencer might collaborate with a restaurant chain to create a recipe and post it on their social channels.
For some influencers, this can become a full-time job. In the US, this typically means they receive a 1099 from the brand each year and report their income on taxes. However, most influencers work through agencies or platforms that source and pay them. This can be easier and less risky for them.
