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Global Marketing

Social Media Marketing: How Does It Make Money?

When do you not see an ad on social media? I just went on Instagram to test this out, and on my third scroll there was an ad. Whether you're Starbucks or a local brick and mortar, social media directly impacts the NOI for these businesses.

How?

There are different strategies for different size businesses, all the way down to being your independent, individual brand as an influencer. One strategy for influencers who have a strong following is to monetize on your existing audience. If brands see that you have a loyal following and a clear sense of brand, brands will target you and pay you to market and advertise their brand. An example of this is Free People. Free People will pay influencers a rate per post and then of course gift the clothing for an influencer for post and support their product. That's one way to make money.

Building off of knowing your brand, understand what your skillsets are. A good example of this, on TikTok, is there is a brand of couples DIY-ing and flipping their rundown homes and doing the work on their own. Brands like Home Depot and Lowes have taken advantage of these influencer's followings. Home Depot will pay these couples, let's say $500, to go shopping at their stores and take their following with them. The couple gets paid to post on social media and market to their loyal followers.

A final way to earn money advertising on social media is to sell your own products and services. What I have loved about TikTok is how the platform has supported local artists. Artists will document their painting process for their fans to watch. There are quite a few artists who had to develop prints of their paintings because the demand to purchase their artwork was so high. Some artists even have a backlog now for custom made paintings because the followings are so loyal and intense.

Running your own social media as a means of income is a full time job, hence the emergence of influencers. It is feasible to make money off of social media if the right strategy is adopted!

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