At present, social media is one of the most popular platforms among internet users throughout the world, and with such a big market easily accessible through various outlets, the possibilities of how to grow your business have never been greater. With Facebook, Instagram, Twitter, YouTube and many more platforms available in the modern-day, reaching vast numbers of people and making money without added expenditure is arguably easier than it ever has been before. Moreover, and rather crucially, with many platforms being available on a free sign-up basis, they represent an extremely cost-effective business strategy.
Although many people still enjoy traditional high street shopping, social media monitoring is practically a daily occurrence among many internet users, and, as such, browsing the latest deals and shopping online is now easily available at the touch of a few buttons. While there are many ways that business owners can use social media to grow their customer base and increase their profits, we’re going to highlight some of the most effective methods of how to use such platforms to make money.
As Facebook is without a doubt an incredibly influential platform that is utilised by many across the globe, the platform represents a real opportunity for businesses to make money. The platform itself offers users a range of different methods in which to go about their business, from recording videos to uploading images and writing statuses.
On Facebook, there are several different varieties of groups which are primarily set up for people to express their opinions and discuss their common interests in one place. That said, however, buy and sell groups are one of the many options that are available through Facebook, and such a group could be financially beneficial to your business if used correctly. Although this group type does invite others to sell their own products, it still allows for a solid foundation in which you can build your business and make money without having to invest your own funds into marketing.
Another possibility through Facebook is the option to charge a monthly subscription in order to be granted access to the group itself. This type of model is ideal for those who are looking to reward their customers with, for example, exclusive offers in return for their subscription. Charging a fee for this type of service is a good way of both making money and ensuring that your customers are being rewarded for their contributions.
Social Media Videos
In recent years, the ability to use videos as a method of growing your audience has proved highly popular. While YouTube and Twitch are two of the largest platforms for making money through uploading both live and pre-recorded videos, outlets such as Instagram and Facebook have introduced live video recording into their platforms. Unlike traditional television advertising, opting to record live from either Facebook or Instagram won’t cost anything and is an effective tool in seeking to interact with your audience on a more personal note rather than purely through text form.
In regard to making money and growing your business, video recordings can be seen as more personal and demonstrate to your audience that you are attempting to develop your relationship in a more informal way. Moreover, with the platform allowing for free advertising, there’s plenty of scope to make money by showing off your business’ new products and services.
Furthermore, YouTube does offer the possibility of directly making money through videos. If your business happens to have a fairly large audience, then YouTube does allow for adverts placed on the video to generate revenue. Additionally, the platform can also be used to form partnerships and sponsorships which can help to make money.
Aside from Facebook, Instagram and YouTube, Twitter is an incredibly useful tool for any business owner. However, unlike the other popular platforms, Twitter doesn’t allow for excessively long posts. Despite the character limit being changed from 140 to 280 since the platform first began, reports suggest that the most common length of tweet is only 33 characters long. When you consider the average tweet length alongside the ability to start promotional campaigns on the platform, the short, sharp posts could be more likely to attract potential customers who won’t be faced with the need to read through overly wordy tweets.
Incentive-based offers and promotions have recently become commonplace throughout many different business sectors. With that being said, the online casino market perfectly demonstrates how promotional incentives can be used in order to generate greater revenue. Platforms such as Oddschecker promote some of the best free bet no deposit offers across a range of different online casinos, each of whom provide a variety of traditional games ranging from baccarat, blackjack, poker and many more.
Additionally, it’s important to use the platform that you’ve been given to its full potential. While the average tweet length is well below the limit, the opportunity to expand and develop through Twitter’s maximum character count in order to grow your business and make money is ultimately there to be used.
The greatest benefit of using social media to make money is the cost-effective nature of the various available platforms. As many of them don’t require a sign-up fee, given that they provide an extensive platform in which profits can be made, it’s clear to see why social media is quickly becoming an essential aspect of business marketing.