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5 Ways Influencers Can Make Money: Is Your Following Substantial Enough?

3 February 2021 No Comment

Although most are familiar with the term “influencer”, a lot of people don’t actually know what the life of an influencer entails. To an average person, it may seem like they just get paid to post on social media. However, the way an influencer earns their income is not quite as simple as that, and they often have many modes coming in at once. This article will outline five different ways influencers make money, along with some tips to boost your own following and income.

Sponsored Posts

One of the most well-known ways influencers can generate income is through sponsored posts. With this, a brand may ask you to create a post, video, or blog entry showcasing and promoting the product. In exchange, they will compensate you and often give you free products as well. The amount you earn can vary greatly depending on both your following and the product being promoted, so take care to do your research when making a decision on which offers to accept.

Brand Ambassadorship

Related to sponsored posts is the concept of being a “brand ambassador.” This is a similar arrangement but differs in that you will have a long-term relationship with this brand. Because of this, it’s important to be even more selective when choosing to enter a partnership. Make sure that your goals and values align with this company, and that the relationship is beneficial to all parties involved.

Podcast Production

A great way to attract both followers and advertising partners is to start a podcast. Influencers have often gained their following by having lives and personalities that are interesting to their audience, and a perfect way to showcase and share that is through an audio medium. Podcasts are relatively easy to get started, and Podcast Hosting Platforms can make the process even simpler. As you gain more experience and your podcast following grows, you may want to upgrade your recording setup, like purchasing a higher quality microphone or learning more about editing techniques.

Product Sales

Many influencers have gained a following because of a specific skill or expertise they possess. One great way to make some more money is to monetize that specific skill or knowledge. Perhaps you are an artist or musician, you could make prints of your work or your music available for purchase. Or maybe you have specific knowledge that your followers would find useful to learn from, then you might write a book or design a video course. This kind of income is useful because your followers can support you directly. Platforms like Patreon or Ko-fi not only facilitate that income, but they also let you interact with your fans directly.

Events

Another way fans can support content creators directly is through live events. There are many different types of events you might plan, depending on your expertise and audience. Perhaps you’ve written a book and might go on tour to promote it. Or perhaps you might host a meet-and-greet to give fans a chance to interact with you one-on-one. This is a chance to get creative and design an event that your audience would love.

Final Thoughts

The different combinations of income streams are going to vary widely from influencer to influencer, depending on their audience, expertise, and reach. One thing they all have in common is having multiple sources of money, since their influence is so heavily reliant on the ever-changing algorithms of their social media of choice. By having multiple ways to make money, you can ensure that your income is stable and secure, no matter your niche.

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