At first, through paid social and display ads, advertising paid the bills of networks. It continues to do so mostly. But social media has transformed into a platform where influencers make money in ways you do not know about. What are the ways influencers make money? Let’s look at their options to earn money from their influence.
How Do Influencers Make Money?
Like many other areas of the mass media and online, influencers can choose from many options to earn money. They typically choose their options according to their niche, personal skills, opportunities offered, and many more. In addition, some choices require greater commitment levels that an influencer may not be interested in.
Affiliate marketing is among the oldest solutions to the question, “how do influencers make money?”
Through Affiliate marketing, the influencers and web owners insert coupons or special links in their blog posts. When users click on these hyperlinks or enter the coupon codes when they purchase, the influencer receives an amount of money. A popular Affiliate marketing program can be Amazon Associates. There’s also an influencer program.
We tend to think of programs like Google AdSense, but this program primarily works with blogs or other sites. Users of Podcasts can incorporate sound bites into the program. The ad will be like a radio commercial interrupting the show in this scenario. YouTube also offers options for advertising on display, like the addition of shelves of merchandise.
Today sponsored posts are an essential alternative regarding how influencers make money.
In this scenario, sponsored posts could be any content created on a commission basis.
Thus, an Instagram celebrity might make an individual post, a collection of articles, or a Story. YouTube or TikTok influencers can create videos as well. Twitter users can tweet out Tweets. The product that is promoted is usually integrated into the video somehow. Furthermore, an FTC disclosure is required to ensure compliance.
Photo and Video Sales
Instagram is a well-known platform for stunning images. To this end, travelers, travel experts, and others who make frames-worthy photos might be able to sell their photos. In this scenario, the majority of sales for photos are prints you can purchase on their websites. Sometimes, you can purchase the rights to them too. The majority of videos are licensed.
Digital Courses, Subscriptions, Ebooks
Social media is brimming with individuals specializing in their fields, and some have become influential in their respective fields. In this particular group with influencers, the sale of digital items is an excellent opportunity to earn money.
There is much of this in fitness food, finance, and influencers. For the fitness crowd selling different options for training is very efficient, as is the offering of subscription services. Food bloggers could offer an ebook with recipes, while financial experts typically promote subscription-based products.
Promote Your Products
Of course, specific influencers also have their brands. Professionals, for instance, write books or serve as consultants on the side offline. In their case, answering the question: of what influencers earn a living is as easy to answer as “being an influencer is part of my marketing routine.” Other influencers can create products following having gained popularity.
How Much Do Influencers Make Per Post?
If we inquire about how influencers make money, it’s only natural to be curious about how much they earn. The prices for more sophisticated ways of monetizing, such as subscriptions, can vary greatly, so it’s essential to keep out of what we’re discussing. However, some data is available about the costs paid for sponsored content.
Price per Instagram Post
Pricing Instagram posts can be a bit difficult.
I posted a few months ago about the Instagram calculators for rate. The same info produced mixed results.
There’s a good thing; there’s a general principle that is becoming more and more popular. For every 1,000 followers an influencer follows, you have to pay $10 for each post. Remember, if you’re running the post as a Story or series of articles, your numbers need to be up to show this.
Price per YouTube Video
The influencers often have to complete lots of work on YouTube to make videos. Writing, shooting, and editing takes lots of time. That’s why my recommendation is to set that you pay at least $20 for 1,000 subscribers. But, with exclusivity agreements and other considerations, it is possible to charge more.
Price per TikTok Video
TikTok is a new platform for market influencers. But that’s not meant to suggest that getting a post sponsored by a brand isn’t affordable. At present, the recommended rate is $25 for 1,000 followers. This could be due to the lower number of influencers on other networks.
Price per Podcast Episode
According to longtime radio host and his friend John Lee Dumas from Entrepreneurs on Fire (JLD from EOF), The podcasting industry has a clear cost structure to sponsor. In simple terms, the price is determined per 1000 listeners (CPM), the length the spot runs for, and the place it will be included in the show.
- For a preroll of 15 seconds cost, you will pay $18 for each 1,000 listens. They will be played before that central message.
- 60-second midrolls are $25 per 1,000 listens. Midrolls appear located in the middle of the show.
- Then, a post-roll of 30 seconds will cost you $10 for 1,000. An easy call to action is at the close.
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