Table of Contents
Social media platforms are pretty convenient for around-the-world communications.
However, you can also use these platforms to support yourself financially.
For today’s post, our main focus will be on the top social platforms you can use to earn money. Moreover, we’ll answer some FAQs along the way.
Quick Summary
By the end of this post, we’ll cover the following points:
- 3 social media platforms for earning money
- Important tips
Let’s get you started.
3 Social Media Platforms You Should Use to Make Money
With the rapid growth of social media platforms, the opportunities to make money have only increased. You can buy and sell stuff, create a passive income stream, or develop a brand.
The options are only limited to your imagination. With the correct information, you can earn thousands of dollars from the comfort of your home.
Let’s see what our list of social platforms:
YouTube
YouTube currently holds the monopoly in the media market. With over a billion active users, it has numerous opportunities for you to earn a sustainable income.
Many people earn millions of dollars monthly just from YouTube alone. Another advantage of YouTube is that there are multiple ways to expand your income stream.
How can I earn money from YouTube?
There are 3 main ways to earn money from YouTube. Firstly, you can earn from the ad segments on your videos. This is arguably the most efficient way to earn from YouTube.
Secondly, you can earn money from sponsorships. Brands are always looking for content creators to promote their business, products, and services.
Lastly, you can also earn money from affiliate sales. Many content creators use their channels to sell various products.
How much can I earn from YouTube?
There is no high ceiling when it comes to earning from YouTube. You can earn from a couple of hundreds to thousands and even millions of dollars.
On average, you can earn about $500 to $5000 per video just from ad revenue.
Are there any downsides to using YouTube?
YouTube is quite easy to learn and operate. The only thing you have to be careful about is the terms and conditions of YouTube.
These terms and conditions are constantly updated. So, keep an eye out for it.
Back when Facebook acquired Instagram, it has been slowly transformed into a platform to earn as well. Now, it’s not just about uploading pictures and videos.
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You can develop a brand, promote your business, or provide an audience for other brands. Many influencers treat Instagram as a full-time job.
What is the best way to earn from Instagram?
Unlike YouTube, Instagram prefers audience reach. If your account has an 80% reach of the total followers, the algorithm will automatically promote your posts.
You can then use this reach to approach various high-profile brands. After that, you have two options.
Either go for sponsorship or land an affiliate deal. In both cases, you can earn thousands of dollars.
Does Instagram display ads on my posts?
The only downside of Instagram is that it doesn’t have a viable ad revenue system. Ads are only displayed on live streams and even then, they don’t pay quite as much.
Compared to YouTube’s ad revenue, earnings from Instagram’s ad system are negligible.
When it comes to Facebook, it has a different ecosystem for earning money. Unlike Instagram and YouTube, Facebook mainly relies on selling and buying.
You might have come across various individuals and groups that often place ads for buying or selling. Moreover, Facebook even has its own shop.
Can I use Facebook to increase sales of my other businesses?
The majority of the people buying and selling stuff on Facebook are mainly doing it to promote their business.
Suppose you have an online course selling business. You can use Facebook’s marketplace to divert users to your main website.
How much can I earn from Facebook?
On a monthly basis, you can earn anywhere between $500 to $10000. Since most of the revenue is tied to sales, the number can go up or down.
Compared to the other two platforms we mentioned, Facebook’s revenue is quite volatile. So, you should keep Facebook as a second option for an income stream.
Does Facebook pay money for ads?
Facebook’s ad revenue is quite inconsistent. The ads are generally displayed separately from the posts. That is why major content creators prefer either Instagram or YouTube.
Another downside of Facebook is that it doesn’t have tools for content creators. You can create videos but without any sponsorship, it is hard to monetize them.
Honorable Mentions
It wouldn’t be fair to mention 3 giant social media platforms and not mention some other well-known platforms as well.
Twitch
Twitch is a popular streaming platform that has over 15 million daily users. Some of the biggest names in Esports stream on this platform.
You can stream games, IRL stuff, or just sit in your room and talk to your community. Twitch has a high-reward revenue system that you can use to earn thousands of dollars.
TikTok
TikTok might not be as big as YouTube, but it still has a healthy ecosystem to pay its content creators. You can through ads, sponsorships, and affiliate deals.
Moreover, TikTok is quite easy to operate. You can make memes, educational videos, or play around with voiceovers.
Spotify
You can also earn a substantial income from Spotify as well. Even though its media format is only limited to audio, you can still make thousands of dollars.
You can create music, upload podcasts, or even publish a book. Spotify also pays its content creators based on the number of views.
Wrapping Things Up…
This brings us to the end of our list of 3 social media platforms you should use to earn money. We hope you can use this information to your advantage.
YouTube, Instagram, and Facebook are all designed to help the creators support themselves financially. Even if you aren’t a content creator, it is still possible to earn thousands of dollars monthly.
Let us know what you think in the comments below.