Have you ever wondered how influencers turn a profit using social media? Taking artful photos for Instagram or creating YouTube videos may seem like just a fun hobby to you, but it can actually provide a significant income stream and even turn into a full-time job.
The following video from Forbes gets into the nitty-gritty of how influencers monetize their social media.
Let’s break down three of the revenue streams this video mentions, which you can adopt to make money through your own social media accounts!
1. Google Adsense
Most similar to traditional internet advertising, Google Adsense enables YouTubers to capture a portion of revenue from programmatic ads that are placed on their pages and videos. The stars are able to keep a not-insignificant 55 percent of the ad revenue. So, for influencers who get a lot of traffic and have a high reach, this revenue stream can be quite lucrative.
2. Brand deals
You may have seen influencers use the hashtag “#ad” in their post captions—this means that a brand has sponsored the post. Sponsored content is one of the most common ways influencers generate revenue. With their large followings and influence, social media stars enable advertisers to target specific audiences and achieve results. Through a variety of methods such as product placement, reviews, and event coverage, social media stars can easily influence their audiences to purchase a certain product or try a new service, and in exchange they receive payment or brand products of their own.
An audience contribution platform, Patreon enables fans to support their favorite creators by paying a subscription amount of their choice in exchange for behind-the-scenes content and exclusive experiences. Patrons can pledge monthly amounts ($1, $5, $10, etc.) to creators or financially support specific projects of theirs. The platform is a fantastic means through which bloggers and YouTubers can establish a predictable revenue stream to fuel their endeavors.
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