The lucrative ways every social media Influencer should be making money
There are a lot of ways content creators can make money online. However, shifting platform policies and constant algorithm changes can make your more typical streams of revenue unreliable. Thankfully, there are other, more dependable sources of income you can turn to.
Here are three lucrative ways every influencer should be making money.
1. Go live on platforms that offer premium messaging.
Social media stars go live all the time, but not every live streaming platform allows its users to make a lot of money. Some, such as Instagram Live and Facebook Live, have been experimenting with features that enable monetization through viewer-purchased gifts or ad breaks. However, none of these features are going to entice your viewers as much as premium messaging.
Streaming platforms such as YouTube Live and YouNow offer viewers the opportunity to send premium messages that will be highlighted in the chat during a live broadcast. The creator who receives the message earns revenue in return. You can encourage viewers to send more premium messages by paying special attention to any you receive. Respond to them quickly, and shout-out the viewers who send them.
With YouTube Live’s Super Chat feature, you can receive premium messages on live streams broadcasted directly from your channel.
2. Set your own rates for sponsored content.
Anyone who’s spent time on social media has seen a sponsored post. They can be found on practically every platform. They can be made by influencers of any level, whether they have hundreds of followers or millions of followers.
However, every influencer who does sponsored posts, especially smaller creators, runs the risk of being low-balled by a brand. If you don’t have set rates for sponsored content, then you may be tempted to take the first offer a company presents to you. Therefore, before you start making sponsored content, you need to set your own rates.
Setting your own rates helps you realize your own value. By being aware of how much worth you bring to a sponsorship, you’ll be more confident in asking for what you deserve.
3. Join a tiered crowdfunding platform.
Recently, a lot of creators have been launching Patreons and Channel Memberships. Crowdfunding platforms like these enable you to set different support tiers for fans to join in exchange for exclusive perks. The higher the tier they subscribe to, the more perks they get.
By joining a crowdfunding platform, you can connect directly with the most dedicated members of your audience. Their monthly support will enable you to build a firm financial foundation as well as a strong relationship with your fans. You can incentivize more fans to join by giving your supporters a margin of decision-making power for your channel, such as letting them vote on video ideas or submit questions for a Q-and-A.
While your channel must reach a certain threshold in order to be eligible for Channel Memberships, anyone can set up a Patreon. Many creators have been able to turn their Patreons into full-time incomes.
Every influencer needs several streams of revenue in order to turn their content creation into a full-time career. Set yourself up for financial success by going live on platforms with premium messaging, setting your own rates for sponsored content, and joining a crowdfunding platform.