Snapchat Facebook, Instagram, Twitter. You're probably on all of them and you know what, why not monetize and make money.
But people are probably telling you that you need a product to make money. That's a bunch of lies. Today I'm going to share with you, five ways you can monetize your social media audience without a product.
The First Strategy is Go and Promote Someone Else's Product.
I have a huge social media following, at least I think it's a decent size for anything marketing related. So if I go out there and I say, Hey, you should talk about, or you should go use atress or BuzzSumo, or semrush. I've mentioned all those tools so many times in my videos. Now I don't have a deal with them and I don't have affiliate rake or anything like that with these guys. But if I wanted to, I probably could get one. I'm driving them signups. I'm driving them revenue. And it's really easy to hit them up and be like, Hey, I want commission.
Most of these guys already have affiliate programs on the bottom of their website. All you have to do is sign up and use that link. You can even go to sites like Amazon and Best Buy. They all have affiliate offerings and pages.
Even the largest companies that you can think of are doing affiliate marketing. So it's really easy for you to go pick any type of product out there that's related to your audience and sell it.
The second strategy I have for you is partner with someone who has a product, but doesn't have an audience.
Here's what I mean by that. These days, influencer marketing is huge. When you put a brand, a personal brand behind a product, you can crush it. Just look at the Kardashians. I don't know all of their names, but I think one of the youngest ones, the daughter, right?
I think there are technically, almost all of them are daughters, but Kylie or Kim or Khloe or whatever her name is. I'm sorry for not knowing it. One of them is known for selling hair, extensions, makeup, and lipstick. All right. When she sells it, what happens is she puts it on Instagram or social media. It sells out instantly. Now these days she's probably creating her own product. But when she first started, you could see that they're doing deals with other companies and they'd be like, Oh wait, you have a product. I have a brand let's partner up and I'll be the face of your product. And let's make this thing.
Big merger, BEATS by DR. Dre made a killing with Jimmy Eileen, and it could be getting his last name wrong, but I know his first name is Jimmy. Then it was something to Apple for over a billion dollars, really simple model, use Dre’s brand Jimmy's connections.
They blew that thing up so much so that anytime you watch a game or an NFL game, everyone's like walking to the game sporting their beats by Dre headphones And it really blew up. Even the celebrities like the Kardashians were running on it.
So if you find somone with the amazing product, but no personal brand behind it, you could be that personal brand. Think about how cool that is. You can promote it, do really well for them and you can take a cut of the business, not just a cut of whatever sales you drive, but you can get a fraction of that. Business could be two, 3% and 5%, 10%, whatever it may be.
The third strategy I have for you is just place ads within your videos.
If you're on social media, create videos and put them on sites like YouTube, the automatically put ads for you.
If you want to monetize it, yes, you're not going to be the richest person. You can easily make two, three grand a month. That may not seem like a lot, but it could give you enough flexibility and freedom where you don't have to work for someone else. It's kind of awesome and amazing money.
Isn't everything in this world making enough to be happy and having that financial freedom in many cases is better than making 10, 20, 50, a hundred grand a month. So don't always shoot for making the most amount of money. Also aim for financial freedom and by just putting ads on your videos, or, you know, if you have a WordPress site, you can allow them to monetize and you can make money promoting those articles via social media. It's an amazing way to end up making free money or easy money from ads.
The fourth strategy I have for you is influencer marketing and not the same influencer marketing that had talked about a few strategies ago.
Why not go and say, Hey, I saw your teeth whitening. Will you pay per post to promote you on Instagram. Here’s another, I saw your fit tea. I can talk about your fit tea. I have a fitness Instagram page and I can end up breaking down and taking photos of how I'm using fit tea to get more fit and building these muscles. You get the point, you see on Instagram all the time, people promoting other people's products, taking pictures, and they're not getting paid by per sale. They're getting paid to be here like an influencer and they're getting paid for, let's say three months, six months or a year. They have a contract and they post typically one pitch a month or one a week and they get paid a monthly salary. That's amazing. Easy, awesome way to me make money.
The Fifth Strategy is premium content.
Here's what I mean by this on Instagram, you see a lot of these models taking pictures of themselves and then they use something called patron with like, Hey, you can subscribe on patron, give me money each and every single month and I'll show you premium content. You can do the same thing. You don't have to take half naked pictures and I'm not recommending that. But more so what you can do is you can create exclusive more detailed, thorough articles or exclusive videos.
You can shoot 30 minute videos or one hour videos that break down step by step on how to do everything from A to Z and charge for that. That's a good idea of creating premium content and charging for it.
These are great strategies that Neil Patel uses and is giving away for free. I have transcribed the video for reading but you can watch the video below. Enjoy!