{"id":20245,"date":"2022-10-19T12:28:44","date_gmt":"2022-10-19T12:28:44","guid":{"rendered":"https:\/\/viralmango.com\/?p=20245"},"modified":"2024-12-24T11:07:39","modified_gmt":"2024-12-24T11:07:39","slug":"how-do-influencers-make-money","status":"publish","type":"post","link":"https:\/\/viralmango.com\/blog\/how-do-influencers-make-money\/","title":{"rendered":"How do Influencers Make Money in 2024?"},"content":{"rendered":"
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Only a few years ago, only celebrities and a few bloggers dominated the influencer industry. But today, social media has opened the doors for almost everyone to become an influencer and earn money online. It has become a highly desired profession among young people who aim to gather an audience around shared interests and values. If you’re one of them, you’re on an exciting path with endless opportunities!<\/p>\n<\/p>\n

However, making money<\/a> on social media isn’t a quick and easy process. It requires time, effort, and patience to grow your presence, connect with people, and build trust. Success also depends on having a deep understanding of the industry.<\/p>\n<\/p>\n

In this article, we’ll explore how you can earn on social platforms and discover the best platforms to establish yourself.<\/p>\n<\/p>\n

How do Influencers Make Money on Social Media?<\/h2>\n<\/p>\n

One of the many great things about social media is that you don\u2019t have to stick to one option for making money. There are different opportunities you can explore to find out which type of cooperation fits your niche and audience best, improving your business outcome. Whether you are just starting as an influencer, or want to improve your influencer business, there are several options to try out. <\/span><\/p>\n

So, how do influencers make money in 2024? <\/span>Let\u2019s take a look at some of the more common (and working!) strategies for making money as an influencer.<\/span><\/p>\n<\/p>\n

Sponsored Posts<\/h3>\n<\/p>\n

What is a sponsored post<\/a>? If you have a solid strategy and put consistent effort into creating engaging, high-quality, and relevant content for your community, brands can pay you to promote them.<\/p>\n<\/p>\n

These posts leave a lot of space for creativity for the content creators but are usually approved by the brands before posting. They can be entirely dedicated to the brand you promote, may feature different products, or can include a tag\/mention.<\/p>\n<\/p>\n

The format and post type depends on the brand you work with and what they want to promote, whether it\u2019s a physical product or a digital one. If it\u2019s a physical product, brands can send a sample and request a product review.<\/p>\n<\/p>\n

How much should you charge for sponsored content? To negotiate a better price for your work, you should present your stats and past collaborations to brands. You can do it through your influencer media kit<\/a>. Depending on how many followers you have and how engaged they are with your content, the average price for sponsored posts may vary.<\/p>\n<\/p>\n

For example, on Instagram, nano-influencers can charge up to $100\/post, while micro and macro-influencers can go as high as $5,000 – 10,000. This is why it\u2019s important to constantly put effort into growing an engaged audience.<\/p>\n<\/p>\n

Here\u2019s an example of a sponsored post created by a travel influencer Annette White<\/a>, who is promoting a glamping experience for her followers in California.<\/p>\n<\/p>\n

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Brand Ambassador Partnership<\/h3>\n<\/p>\n

Many famous brands hire celebrities to become their ambassadors. But, you don\u2019t have to be a celebrity to become an ambassador. Today, brands are shifting toward smaller influencers and offering them similar collaborations.<\/p>\n<\/p>\n

Brand ambassador partnership is similar to other brand deals<\/a> in a way that influencers are paid directly to promote products. However, the key difference is that while other brand deals are mainly one-time partnerships, this one can span for much longer periods of time, and the influencer signs an exclusivity contract that doesn\u2019t allow them to work with other brands in that niche.<\/p>\n<\/p>\n

Usually, brands go for relevant influencers whose values align with their own, who are loved by their audience, and who have a positive impact, in general.<\/p>\n<\/p>\n

For example, the famous singer and BTS member Jung Kook has become Calvin Klein’s new global brand ambassador, and he can\u2019t collaborate with other brands in the fashion industry.<\/p>\n<\/p>\n

The collaboration can include shooting unboxing videos, featuring different products in their posts on different platforms, organizing giveaways, and even joining their offline events. As part of the collaboration, influencers often get free products from the brand. The compensation amount may vary depending on different factors including but not limited to the collaboration terms, influencer\u2019s engagement, etc.<\/p>\n<\/p>\n

Gymshark, an athlete-wear brand, is known for cooperating with influencers from around the world. Jessica Olie, a fitness and yoga trainer, and influencer is one of the brand ambassadors and features Gymshark<\/a> clothing in most of her posts.<\/p>\n<\/p>\n

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Branded Merchandise<\/h3>\n<\/p>\n<\/p>\n

You can create products on your own or with your team. In this case, you are bound to all the earnings from the product as the sole creator. The products can range from clothing items to eBooks, and everything in between, and are greatly based on your niche. One prominent example of this is Chiara Ferragni<\/a>, a fashion influencer who eventually went on to create not only products but her own clothing brand.<\/p>\n<\/p>\n

Another option is when you collaborate with a brand to create a product line. Here, you get paid a certain amount by the brand, based on the contract and your level of involvement. This kind of cooperation can be greatly profitable for both parties.<\/p>\n<\/p>\n

A great example of this is Song of Style<\/a>, a brand created as a cooperation between influencer Aimee Song<\/a> and an e-commerce platform Revolve. The cooperation initially started as one line, but because of its success, grew to become a stand-alone brand.<\/p>\n<\/p>\n

\"Influencer<\/figure>\n<\/p>\n
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Get Brand Deals 10x Faster<\/h3>\n

Create a Media Kit You Are Proud to Share<\/p>\n

Get Started<\/a><\/div>\n<\/div>\n
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Affiliate Marketing<\/h3>\n<\/p>\n

For influencers, one of the most common ways of making money is affiliate marketing<\/a>, also known as referral marketing. With this collaboration type, you get a custom link or coupon code, and every time someone makes a purchase through them, you get a commission agreed with the brand.<\/p>\n<\/p>\n

An affiliate campaign can be done as a collaboration with individual brands, as well as through affiliate networks. On these networks, you can register and choose the ones that fit your niche from the available options. Then, you can apply to the program and start promoting it once the brand approves the collaboration.<\/p>\n<\/p>\n

If you’re just getting started with affiliate marketing, you canjoin programs like Temu Influencer Program<\/a> and Amazon Associates<\/a>. <\/p>\n<\/p>\n

Digital Content Creation (UGC)<\/h3>\n<\/p>\n

UGC (user-generated content) is any type of content that is created by a brand\u2019s audience. If you are good with video and digital content creation, you can become a UGC creator and cooperate with brands to help them create branded content.<\/p>\n<\/p>\n

By becoming a UGC creator<\/a>, you can create content and generate income. Your social media accounts can serve as a portfolio you can send to potential clients to showcase your digital content creation skills as you offer them your services. That\u2019s why it\u2019s important always to keep it active, visually appealing, and strategically planned. With time, you\u2019ll see what type of content works for your niche better.<\/p>\n<\/p>\n

Once your account is content-rich and looks the way you want it to, you can go ahead and start contacting brands with offers. Alternatively, they can reach out to you, if they like what they see.<\/p>\n<\/p>\n

Digital Courses and Ebooks<\/h3>\n<\/p>\n

Another way to monetize your following is creating and selling digital courses and ebooks based on your expertise. If you have a specific niche, you can educate your audience by sharing your knowledge and experiences.<\/p>\n<\/p>\n

You can promote and sell your educational materials through different channels. For example, Udemy<\/a> can be a great platform for creating an online course. Or, you can publish an ebook through Amazon Kindle Direct Publishing<\/a>. Then, depending on which platform you are active on, you can share them with your audience. By providing valuable content, you can generate income from the sales of your courses and ebooks.<\/p>\n<\/p>\n

Direct Donation, Tipping, and Subscriptions<\/h2>\n<\/p>\n

All major social media platforms offer subscription features that allow you to receive tips and direct donations from your followers. For example, on YouTube and TikTok, viewers can donate money or tips during live streams.<\/p>\n<\/p>\n

Patreon<\/a> is another popular platform that can help you offer exclusive content or other perks to your subscribers in exchange for monthly subscriptions. This way you can have a consistent source of income. If you have an active website or other platform, you can accept donations through services like PayPal<\/a>.<\/p>\n<\/p>\n

By diversifying your income streams, you can earn money by providing value and engaging with your loyal audience.<\/p>\n<\/p>\n

Which Social Media Platform Pays the Most?<\/h2>\n<\/p>\n

Now that you know what strategies work for making money on social platforms, let\u2019s see how much you can make on different social media platforms as an influencer.<\/p>\n<\/p>\n

Of course, the best social media will vary depending on your niche, audience, and the content type you create, but all are profitable. Below, we cover the three most popular social platforms: Instagram, TikTok, and YouTube.<\/p>\n<\/p>\n

How Much do Influencers Make on Instagram?<\/h3>\n<\/p>\n

The first on our list is Instagram, one of the most beloved platforms around. The social media giant has more than 1.4 billion monthly active users<\/a>, with virtually every brand having a presence there. The team behind Instagram constantly works to make the platform as creator-friendly as possible, and many brands and influencers today use the channel to advertise their services and cooperate with each other. The affordability of the platform and the high levels of user engagement make Instagram one of the most profitable social media channels.<\/p>\n<\/p>\n

However, to make money on the platform, you need to keep in mind that there are certain strategies that work better than others. So, if you are thinking about how to make money on Instagram, here are a few do\u2019s and don\u2019ts to consider:<\/p>\n<\/p>\n

Do’s<\/strong><\/p>\n<\/p>\n