How to make money as an influencer: 6 proven strategies

November 6, 2023 -Influencer marketing

How to make money as an influencer: 6 proven strategies

Social media influencers have many ways to monetize their following, including sponsored posts and videos, affiliate marketing, selling their own products and services, creating and selling online courses, and consulting and coaching.

There is no one-size-fits-all approach to making money as an influencer, and the best method for you will depend on your specific skills, interests, and audience.

However, all of the methods listed above have been proven to be effective, and they can be a great way to generate income and build a successful business.

Sponsored posts and videos

1. Sponsored posts and videos

Making money as an influencer often comes down to doing sponsored posts and videos. This is when you show your audience a product or service and act as a voice for the brand. In return, brands pay well because it can introduce them to new customers and boost their sales figures.

Getting into sponsored content starts with having the right kind of followers, those who would be interested in the brands you might promote. After growing your following to a substantial size, you can either contact brands directly or join services that help influencers and companies collaborate.

A key part of the process is negotiating what you'll promote, the kind of posts you'll create, where you'll share them, and how much you'll get in return. It's crucial to be upfront with your followers about sponsored content, usually with a "#sponsored" tag or a clear mention in your post.

For your sponsored content to hit the mark, it should feel genuine, showcasing products or services you truly appreciate. Creativity here is your friend, instead of just posting straightforward product shots, tell a story that will draw your audience in. Keep the conversation going by interacting with your audience and tagging the brands you're promoting.

Whether it's a beauty influencer demonstrating a new product, a fitness guru sharing their equipment routine, or a fashion star showing off the latest trends, sponsored content should feel natural, engaging, and true to your personal brand. Done right, it's a powerful way to earn while connecting your followers with things you believe in.

Affiliate marketing

2. Affiliate marketing

Affiliate marketing is a common way for influencers to earn an income. You sign up to get a special link, and when your followers buy something through it, you get a slice of the sale. It's a good fit if you have lots of followers who really listen to what you say.

First, you need to pick a topic you know a lot about and want to make content about. Then, look for affiliate programs that fit your topic like CreatorsJet affiliate program for example in the content creators niche.

You want to find a program that offers a decent share of the sales, gives you time to make a sale after someone clicks your link, pays you regularly, and has products you actually like and want to talk about.

After joining a program, you can use your social media, blog, or emails to talk about the products. You could even make videos or podcasts.

When you make content for affiliate marketing, be clear with your audience that you'll earn money from their purchases. Only share stuff you think is good and useful for them. Try to make your content something that teaches them about the product, not just a sales pitch. Get them involved by asking questions and wanting to hear about their experiences.

Good affiliate marketing feels genuine and can convince your followers to check out what you're recommending, like a fitness influencer sharing their favorite protein powder or a beauty influencer talking about their must-have makeup. When done well, it's a powerful way to earn by helping your audience find things they'll like.

Selling your own products and services

3. Selling your own products and services

If you're an influencer, think about making and selling your own stuff. It's a powerful way to control your brand and earn more, offering something unique to your followers.

First, get a sense of what your audience is missing and come up with a product or service to meet that need. It could be anything like a digital download, a class, some cool merchandise, or one-on-one coaching.

Once your product or service is ready, start spreading the word across your social media, blog, or email. If you can, investing in some ads can help you reach even more people.

Here's the deal: make sure whatever you're selling is worth it. It should be something valuable that you've put effort into. Pricing is key too, it should be fair for what you're offering and competitive in the market. Keep shouting out about your product so people remember it's out there. And don't forget to treat your customers right, happy customers become repeat buyers.

Doing this right could transform you from influencer to entrepreneur, with a fanbase that's not just following you, but also buying from you. It's how some influencers have turned their passion into a thriving business.

4. Membership site or Patreon

Having a membership site or something like Patreon can be a solid move for influencers looking to make regular money. You set up a space where fans pay regularly for cool extras and a sneak peek into your world.

The cool thing about this is that money comes in on the regular, which helps make your income more predictable. It also means getting to know your fans better. They might get the first look at what you're doing, special deals, or get to see stuff that you don't show anywhere else.

To get started, pick a specific thing you're all about, this helps draw in the right crowd. Whatever you share on your site has to be top-notch and worth the cash. Don't forget to let everyone know about your site on your usual channels like Instagram, your blog, or wherever you hang out online. And remember, keeping your members happy is key, they’re your VIPs after all.

Some influencers who’ve nailed it include Pat Flynn who does cool things for his podcast fans, Amy Porterfield who offers marketing know-how, and Tim Ferriss who gives his Patreon supporters extra podcast goodies.

In short, if you’ve got fans willing to pay for more of what you do, setting up a membership can be a great move. Just keep it high-quality, stay connected with your members, and keep spreading the word.

Creating and selling online courses

5. Creating and selling online courses

Making online courses is a smart move for influencers who want to teach others and earn money without needing to be hands-on all the time.

When you create an online course, you get to spread what you know to more people. This not only feels good because you're helping others learn, but it can also keep making you money even when you're busy with other stuff. Plus, it's a great way to show you're an expert in what you do.

To get going with your own course, pick something you're really good at and love talking about. Think about who wants to learn this stuff and how you can make the course suit them. Plan what you'll teach, record your lessons, and put them all together into something that looks and sounds good. Then you can put your course up for sale on websites where people go to learn new things.

Remember to make sure your course is packed with useful information and to tell everyone about it through places like your social media or blog. If people have questions, answer them. Happy students can turn into people who come back for more.

Some online courses that have done well teach about digital marketing, beginner's coding like Python, or how to invest money. If you know a lot about something, turning that knowledge into a course could be a brilliant way to share and make money at the same time.

Consulting and coaching

6. Consulting and coaching

Consulting and coaching let influencers earn money by sharing their skills and helping others reach their dreams.

These jobs can pay well, especially if you're good at something a lot of people want to learn. Plus, you get to choose when and where you work, and there's a real feel-good factor when you see someone you've helped succeed.

To start as a consultant or coach, think about what you're really good at that others might need help with. Decide exactly what help you can offer, like one-to-one chats or group sessions. Think carefully about how much you'll charge to make sure it's fair for the value you're giving but also pays the bills.

Getting clients can be done through meeting people, sharing what you do online, or by being a speaker. The most important thing is to do a great job by understanding what your clients need, giving them great advice, and being there for them as they work towards their goals.

To be good at this, know your stuff inside out. Listen well, support your clients, and remember that progress can take time. Celebrate the small wins on the way.

People like Marie Forleo help other women start their own businesses, Tony Robbins guides people through life changes, and Brené Brown teaches people to be brave with their feelings. If you're good at something and like helping others, you could make money as a consultant or coach too.

Influencers can make money and become more popular by selling their own stuff, teaching people things, having special clubs for fans, or giving advice and coaching. They do well by understanding what their followers like, making good stuff, setting reasonable prices, and helping their customers well.

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