What is the best way to monetize on social media? (Instagram)

E-commerce is a growing field for entrepreneurs and business focused personalities. There are several e-business models that target specific segments utilizing different business processes. The question becomes what the most effective way is to monetize your content on social media. When delving into this question, I specifically focused on Instagram as it is a mass platform featuring almost every niche you can think of. There is also no start-up cost to creating a page on Instagram and building a following.

The obvious factor most of us can agree on being the biggest impact is your ‘following’. This is just a core principle in business. The more customers you have the more money you will make. I guess the same applies to your page. You can look at your following the same way you look at customers. Another important factor I observed was the niche your in. Again, just like a real business, your niche and field matters. More money can be made in a niche that features products and services that have more demand. Your niche also allows you to set up a loyal fan and customer base which is cohesively explained by Schooley's blog on business news daily.

I also noticed that this influences the marketing, your niche may involve heavy marketing due to businesses wanting their products to acquire heaps of traffic.

How to Monetize Your Video Content on Social Media Platforms?

(Graphic via the social pilot. https://www.socialpilot.co/blog/how-to-monetize-your-video-content-on-social-media-platforms)

If you are on Instagram and follow high profiles, your most likely going to be exposed to direct product marketing or affiliate marketing. This seems to be to most predominant way to make money for pages. I also noticed shoutout after shoutout from big pages that are most likely paid. This is probably one of the more simple ways to monetize your page. 

I think one of the reasons something like Instagram is so attractive for brands and niche pages is because of the scalability. Granted you are active, your only going to grow. What do you think? Personally I observe this to be a big indicator of the attractiveness of social media commerce. 

Back to the main question of monetizing on social media. I believe it just depends. What is your niche? what is your e-commerce model? what does your content look like? 

There's more than one way to skin a cat and the same seems to apply to making dough on social media platforms. 

Comments

  1. JordanAugust 6, 2020 at 5:09 AM

    Hey Jordan,
    Great viewpoint. I understand where you’re coming from and firmly agree that there are so many ways in which to make money online. Following is such a huge part of making money and having the ability to create significant connections which can lead to even better things. Great piece, well written (:

    ReplyDelete
    Replies
    1. JordanAugust 12, 2020 at 12:48 AM

      Thanks. Following = $ just like customers = $

      Delete

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