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Australia is being urged to implement rules that require social media platforms to be transparent when closing someone’s account and offer a way for them to appeal it. However, politicians are being warned to resist falling into the free speech versus censorship debate.

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Twitter’s permanent suspension of US President Donald Trump has raised concerns over the power of big tech, drawing the world into a free speech versus censorship debate.

But the global initiative working to counter digital threats to democracy believes that the debates around free speech are quite a convenient distraction for the platforms.

According to Reset, what social media users really need to be worried about is the algorithms that have created a toxic environment and fuelled real world violence.

“It’s right for there to be concern about a few tech billionaires with no accountability making these decisions, but ultimately debates around free speech end up being quite a convenient distraction for the platforms,” said Chris Cooper, executive director of the Australian affiliate of Reset.

“It means we focus too much on what an individual is posting rather than on the algorithms that have created a toxic environment and fuelled real-world violence.

“Facebook, Twitter and YouTube have done nothing to meaningfully address issues of hate speech and misinformation because they profit from the high engagement rates it generates on their platforms,” Mr Cooper warned.

He called for stronger government involvement in policing the work of big tech, warning that a voluntary code can’t solve unchecked algorithms and data usage.

“Voluntary codes and self-regulation will not work when it comes to reigning in big tech.

“We’ve seen in Europe that voluntary codes have largely been ignored by the platforms. In Australia, the digital platforms offered ACMA a very weak disinformation code, based on a failed EU version.”

Mr Cooper believes that Australia should implement rules that require platforms to be transparent about closing someone’s account and offer a way for them to appeal it.

These new rules, he said, need to come with greater transparency and understanding of how these algorithms operate and the extent of misinformation and hate speech online.

“Only the platforms have a bird’s eye view of how the algorithms work and what content is getting amplified. We need an audit so that we can begin to understand how exactly they operate and how they can meet community expectations.”

Reset Australia has been campaigning for a Live List, which would see digital platforms compelled to maintain a list of the most viral URLs being shared on the platforms.

This list, Mr Cooper explained, could be used by public health officials, journalists and academics to effectively track and trace misinformation online and then better target public health messaging.

“Regardless of how we use social media, or whether we use it at all, we are all affected by the current lack of accountability.

“Australian authorities and the Australian public should be able to answer questions like: What kind of content is being amplified by these platforms? Who made it? What kind of demographics are consuming it? To do that, we need a live list of the most contentious issues our society is facing, so we can begin to tackle misinformation collectively and transparently.

“Tech giants have created platforms that produce both mega-profits and serious societal problems. If they accept the profits, they must also accept the oversight,” Mr Cooper warned.

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Australia is being urged to implement rules that require social media platforms to be transparent when closing someone’s account and offer a way for them to appeal it. However, politicians are being warned to resist falling into the free speech versus censorship debate.

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Influencer marketing has become an essential business strategy for marketers. Here is a primer on how you can get started as an influencer.

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As more people joined social media platforms such as Facebook, YouTube, Instagram, Twitter, Snapchat and TikTok, some users became content creators themselves, crafting their own blogs, stories, photos and posts for their followers to view and engage with. During this process, these creators become experts in their own fields and eventually accumulate a loyal and large following. This is how social media influencers are born. 

Marketers were quick to take notice of this internet culture trend. Over the last five years, businesses have collaborated with social media influencers across different platforms to generate awareness about their products and services through content-driven, online marketing campaigns or through “influencer marketing”.

If you are new to influencer marketing, the conflicting information can be confusing. Here is our beginner’s guide to influencer marketing.   

What is influencer marketing?

Influencer marketing is not an entirely new marketing concept. Traditionally, companies have worked with thought leaders and opinion-makers that could sway their potential customers. This usually entails brands paying for a celebrity endorsement for televisions and print ads or with bloggers that have deep understanding about a certain niche or industry. 

In this modern era, the definition of influencers has changed. Most of the people that brands partner with are social media influencers. These are people that have built a large online network or following through content creation on social media networks. 

Fundamentally, influencer marketing is a type of social media marketing in which a brand collaborates with an influential person to endorse a product, service or advocacy by creating related and impactful content online. 

How does influencer marketing work? 

Influencer marketing is increasingly becoming more popular among businesses because traditional advertising has become less effective in generating leads and attracting customers. Businesses can customise their influencer marketing campaign based on their goals, whether it is boosting brand awareness, generating leads and sales, or improving brand advocacy. 

Influencer marketing works because it uses strategies such as word-of-mouth marketing and social proof, which in modern times are critical aspects of any successful marketing strategy. 

Usually, brands collaborate with niche content creators who already are sharing content that market to a brand’s targeted audience. This makes it easier for brands to access the audience personas they are trying to reach.

For example, a pet food company will strategically partner with an online influencer that is known to be an animal advocate or that has a social media account dedicated to animal welfare. It will ensure that a sponsored post in Instagram will garner interaction from followers who have relative interests or passion, making it easier to generate leads or conversions. 

Influential marketing is also effective due to the high amount of trust that social media influencers have built with their following. One of the best ways to measure if an influencer is trusted is by looking at their engagement rates. An Instagram influencer with high engagement rates (high number of comments, likes and shares) will be more effective in promoting a service or a product because followers trust their recommendations. 

Good engagement rates is also a measure of success as it means the influencer has an organic and loyal following rather than an inflated follower number boosted by fraud accounts and bots. 

What type of influencer do brands work with?

The type of influencer a brand works with is necessary for an influencer marketing campaign to be effective. In its early days, influencer marketing usually meant brands paying macro-influencers to endorse their products and services. These are usually influencers with 100,000 or more followers.

But influencer marketing strategies have also adapted to the changes in the digital marketing landscape.

Instead of collaborating with a handful of influencers with big followings, marketers are now working with dozens of micro-influencers, who categorically have 3,000 to 100,000 followers on their social media accounts. 

According to a recent study by the Kelley Fay Group and Experticity, 82 per cent of respondents said they were highly likely to trust and follow a micro-influencer’s recommendation. 

While these influencers are not celebrity influencers or social media stars, they are seen as trusted sources for purchase recommendations because they are perceived as knowledgeable, passionate and authentic, the study noted.

How much money can you make from influencer marketing?

Over the years, businesses have increased their influencer marketing budget. This trend is expected to continue. Given this, it can be assumed that there is plenty of money-making opportunity in this industry that is seen to grow to US$10 billion at the start of this decade. 

If you are looking for a digital hustle, being an influencer may become a lucrative gig. Influencers can have several revenue streams, such as affiliate partnerships, traditional banner advertising on blogs and social media accounts and even commissions for in-person appearances. 

Influencers can also earn money through YouTube and Facebook ad revenue. You can also potentially make money by selling your own merchandise or artwork. 

According to experts, how much money you can make from influencer marketing will depend on your level as an influencer. Mathew Micheli, co-founder and manager partner of global influencer marketing agency Viral Nation, said the range of payments are wide and can range from US$50 to over US$50,000. 

Experts estimate that the average pay for influencers is US$1,000 per 100,000 followers, based on Instagram marketing platform Later. However, the rate that an influencer can demand will depend on a variety of factors, including the quality of the content from the influencer, how often they create content, how big is their following, how their engagement metrics are performing etc.  

Ultimately, influencers may have the ability to earn big money from the content they create. However, it is not exactly easy to achieve and will require several factors to come together to be a successful career path. 

How do you start as an influencer? 

After knowing the ins and outs of influencer marketing, you may be encouraged to become an influencer as well. If you are planning to be part of this industry, here are steps to jumpstart your career as an influencer: 

Choose a platform 

When choosing a platform to become a social media influencer, Instagram may be the best place to start. According to Mediakix, 89 per cent of marketers name the platform as one of the most important channels for influencer marketing.

Instagram stories are highly popular among marketers. A study by Klear showed that around a third of influencer content on Instagram are posted in its Instagram Stories feature. The swipe-up feature to provide a link that followers can visit is offered to accounts with more than 10,000 followers. This feature makes instagram a practical and great platform to share and link to brand content and websites. 

You should also consider the platforms that your audience will most likely use. If most of your target market is on Facebook, you should consider focusing on the latter platform rather than Instagram.  

Focus on a niche 

After choosing a platform, it is important to identify your niche. In this industry, you cannot be a jack of all trades but a master of none. You must choose a niche that is within your interest and will align with your brand identity. 

One of the best ways to choose your niche is to assess your strengths and weaknesses. Select a niche that will highlight your best skills and features. Your niche must also be relevant and will generate relevant and engaging content for a long time. 

Below are some categories or topics that you can focus your content on: 

• Travel
• Lifestyle
• Food
• Beauty
• Gaming
• Sports
• Entertainment
• Fashion
• Health and Fitness 
• Science and Technology

However, do not limit yourself with these established and popular niches. Some influencers combine two or three categories, depending on the content that they produce. What is important is to find a niche that will work best for you and will attract the type of audience persona that you want. Having a unique voice will also help your content to stand out in a highly saturated industry. 

Build a connection with your audience 

Any established influencer will tell you that having a good rapport with your audience is key to being successful in this industry. Build a connection with your followers by taking time to acknowledge and respond to their comments on your posts. You must also be proactive in answering their personal messages and noticing their efforts to reach out to you. This will help you develop a relationship with them, which in turn will make them receptive to any recommendations that you give.  

As an influencer, you will also have your share of negative comments and criticisms. Like with any other job, take these negative comments in stride. Always address them professionally and remember to keep your cool. 

Develop your content 

The key to becoming a successful influencer is to produce high-quality and consistent content. It will help build your industry authority. Your followers will perceive you as a reliable source of information on a certain topic.  

Publishing content on a regular basis is also an effective way to maintain engagement with your audience. Create a schedule or timeline of when you will release or post new content and make sure to follow this schedule. This will keep your audience hooked as they anticipate your next post.

It is also important for you to listen to your audience on what type of content they may want to see on your account. If they are requesting a specific post or content, you may accommodate these types of requests as long as it fits with your brand image and it will help you to be closer to your audience.

Give your audience a balance of informative content and personal content. Being relatable to your audience will help build the trust between you and your audience.  

Grow your network 

Once you have established your presence in the social media sphere to some extent, it is time to grow your network.

One way to do this is to network with other influencers in the same niche that you are focused on. By associating yourself with a content creator in the same niche as yours, you can gain new followers with similar interests as your existing audience. Generally, collaborations will be mutually beneficial to the influencers you work with, as it will also grow their network.

Conclusion

Influencer marketing is showing no sign of slowing down. This provides budding influencers the opportunity to be part of a continually growing industry. But remember that the process of becoming a successful influencer takes time and effort, so it is best to dive into this industry with the proper knowledge and strategy. 

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Influencer marketing has become an essential business strategy for marketers. Here is a primer on how you can get started as an influencer.

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Because of influencer marketing’s proven effectiveness, it has replaced certain forms of traditional advertising.

" ["fulltext"]=> string(12434) "

Marketers are now fully aware that they can boost their reach to consumers by working with personalities that have large followings on their websites and social media networks.

An effective influencer marketing campaign can help you boost brand awareness, build brand authority and reach new audiences. It can ultimately drive traffic to your site and lead new customers to your products and services to generate sales. 

But while the use of influencer marketing has significantly increased, there is still confusion on how to create a successful marketing campaign.   

The key to creating a good influencer marketing strategy is following the right steps in planning, research and nurturing relationships with influencers consistently.

What is influencer marketing?

Influencer marketing is a form of digital marketing that involves businesses and brands working with influencers to help them promote or endorse their product or service on social media platforms.

To learn more about what influencer marketing is and how it works, you can read here.

Who are influencers? 

An influencer is someone who is considered as an expert in a certain niche with a large social media following. These digital personalities also have a high engagement rate with their audience, allowing the creation of a strong relationship with their followers. Generally, an influencer is perceived as someone who has the power to affect the purchase decision of other people due to their established authority in a specific topic or field expertise and their strong rapport with their audience.  

The size of an influencer’s following will depend on the size of the niche he or she chooses to operate in. A bigger industry or niche will mean more followers due to the wide potential target audience.   

How to build an effective influencer marketing strategy

There is no one-size-fits-all marketing campaign. Like any marketing strategy, an influencer campaign requires deliberate targeting and planning to create a plan that will be the perfect fit for your brand and its goals. Here are the basic steps you can follow to create an effective influencer marketing campaign:  

Step one: Set your goals 

The best influencer marketing strategies all start by understanding your business targets and goals. List down what you would like to accomplish with your influencer campaign.

Defining your goals at the early stages of planning will get you on track and help you have a consistent strategy throughout the implementation of the campaign. It will also help you choose the metrics you should track and monitor to measure the accomplishments at the end of it. 

Step two: Identify your target audience

After identifying your goals, the next step is to have a concise idea of the customers in your target markets. Before you start looking for influencers, outline the specific details about the people you want to connect with through your campaign. Therefore, it is important to create a “buyer persona”. 

Knowing the buyer persona of your target audience is important in starting any influencer campaign. A buyer persona is a profile that depicts your target customer. Aside from the basic information, such as their location, age and gender, a buyer persona describes your ideal customers’ interests, what they spend their time on, their life situation, and how they make decisions. 

Once you know your audience, it will be easier to identify the kind of people they follow on social media networks and which platforms they use often. This can help you create a more strategic campaign that will be fit for your potential customers. 

With your target audience clearly defined, you can finally begin finding influencers you can work with to reach your goals and connect with your target market.

Step three: Find the right influencers for your brand

While influencer marketing has advantages, it can be a wasted investment if you are not working with the right influencers. 

One of the main difficulties brands encounter when implementing influencer campaigns is finding the right content creators. The most common mistake is choosing influencers just because they have a large number of followers or a high engagement rate.

But the days of choosing the influencer with the most followers to promote your product or service are in the past. After all, being influential is all about context. You must find the right people who produce and share the type of content that can impact your business or your target audience’s decision-making process. Most marketers are now choosing the approach of “quality over quantity” and ensuring that they wisely allocate their budget.  

Here are some factors to take into consideration before choosing to work with influencers: 

Relevance – It is important for an influencer’s demographic to match your ideal audience. You must check if the content they are creating is aligned with your messaging. Do your research and check their posts to have a sense of what kind of consumer they can reach and if it matches your brand or product’s buyer persona. 

Authenticity – Ideally, the influencers you work with should be an organic advocate for your brand, or a personality who is highly engaged with your ideal customers. Research shows that bloggers who have a smaller number of sponsored posts or content tend to be more trusted and are perceived as more authentic. Personal reviews and stories that include honest use or mention of a product, service or brand are more likely to influence audiences rather than a straight product review. 

Engagement rate – Engagement rate is an indicator of how interactive an influencer’s audience is with the content they create. Do their followers respond, comment and share these posts? For example, if an influencer’s post on Instagram has a high number of likes and comments, it can serve as a gauge of the reach of sponsored posts if you choose to work with them.   

Audience reach – While reach is not the most important metric, it is an important consideration when choosing influencers. However, it is not advised to base your decision only on unique visitors, traffic and followers as a measure of their audience reach. Remember, these metrics will only be meaningful if the influencer is reaching your brand’s target audience. 

In fact, most marketers are choosing to work with influencers that have a lower number of following but are considered to be highly influential than their bigger counterparts.

A recent study showed that micro-influencers (who have a following that falls between 1,000 to 100,000) were seen as more impactful compared to an average person based on their perceived credibility, knowledge and expertise in the product or brand they promote. The study also showed that 82 per cent of those surveyed said they were highly likely to follow a micro-influencer’s recommendation.

Consistency – There is a direct correlation between how frequent a blogger posts and their traffic and rate of return visitors. Find an influencer that is consistent in posting in their Instagram account, Facebook or any other social media network. Having many returning audiences is important, as it often takes multiple exposures to get a visitor to click and check your website and you want to ensure that they return. 

Having a solid business relationship with influencers who will work for your campaign is important for your marketing strategy to work. You can reach out to them via email or directly message them through their social media.

After getting acquainted with an influencer of your choice, you can discuss what kind of collaborations you intend to do with them. Some brands choose to take the organic route by giving products to influencers who are already advocates for their brand. Sometimes, brands choose a paid collaboration, wherein a digital personality may put up sponsored posts or promote affiliate links.

Whatever kind of work you want to do with an influencer, make sure that you have properly oriented them about the type of content and messaging that you want to convey through their platform.  

Step four:  Create effective and engaging content for your campaign 

The next step is to plan the content that you want to produce with the influencer your brand is working with. Anyone can create content. But for it to be effective, it must resonate with your audience and help you achieve your goals. 

Here are the three main considerations when producing content for your campaign:

• Is the content relevant to your brand, industry, products and services?
• Does it represent your brand’s beliefs and is it aligned with your brand’s core values or mission?
• Is the content created of high quality and something your brand would want to be associated with?

These factors will help you plan out the type of content you want and the type of influencer marketing campaign you want to undertake. 

Step five: Measure your results 

As you implement your influencer marketing program, you will want to keep track of its effectiveness. 

To find out if you have reached your goals, track and measure results of the campaign. There are several metrics you can use to gauge the success, depending on the initial marketing objectives you have established. 

In marketing, there are many key performance indicators (KPIs) that are used for different aspects of a strategy. But for influencer marketing, the five most important ones are the following:

Reach and brand awareness – For this KPI, measure how many new prospects have become aware of your product or service and how the campaign boosted its impression on your pre-existing customers. A good way to measure this is to check the impression data on your posts at different periods of the campaign. 

Referral traffic – The amount of traffic the campaign drives to your site can give you an idea of not only the campaign’s reach, but also its overall success. Monitoring referral traffic can also help you determine how many people actually came to your site thanks to the campaign.

To track campaign-driven traffic, compare the post-campaign website traffic, page views, social mentions, time on site, site users metrics to pre-campaign numbers.  

Audience growth – While this KPI may be easily mistaken with reach and awareness, the main difference is that audience growth measures if a user (after being initially impacted by a campaign) will remain as a loyal follower and will continue to engage with your posts or content. To track audience growth, you can use social media site analytics to monitor your followers and see how many new ones you gain during the campaign and compare the rise in followers to pre-campaign figures. 

Engagement – This KPI provides a deeper insight into how your campaign was received. Traffic and reach will tell you how many people have seen your campaign, but audience growth and engagement will tell you how well it performed. Metrics under this KPI includes shares, likes, comments, brand mentions, video views and reactions. 

Conversion rates –  As with all marketing campaigns, the main goal is to drive growth and boost sales. One easy way to measure conversions generated by the influencer campaign is to record sales before, during and after the campaign and note any changes in sales that occurred when the campaign was running. It can also include changes in revenue or price per ticket. 

Conversion is not just about sales. Anytime a target customer or audience completes a desired action (signing up for a newsletter, following social media accounts, joining a contest), it can be considered a conversion as well. Make sure to track all of these non-sale conversions.

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• Yes

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Because of influencer marketing’s proven effectiveness, it has replaced certain forms of traditional advertising.

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In this digital age, social media is a major way people communicate and connect with the world. An average person spends almost two hours on different social media networks every day, with the number of first-time users rising at a rapid rate. 

" ["fulltext"]=> string(6587) "

Social media has grown to become a powerful marketing tool due to its growing role in people’s daily lives. According to Lyfe Marketing, around 97 percent of marketers use social media as part of their digital marketing strategy. 

The practicality and flexibility of using social media for marketing has made it popular among small businesses. Around 90 million businesses are now using Facebook – the biggest social media platform in the world – to achieve their goals, whether it is to boost brand awareness, drive website traffic or increase sales.  

So what are the advantages of social media marketing? Here are the reasons why you should learn to market your business through social media. 

Allows you to reach your target audience 

Establishing a profile on social media platforms will open up an opportunity for your business to connect with your customers online. It will also help you communicate better with your current and potential customers. 

However, creating a business profile on social media sites is merely the first step. A social media marketing plan must be created to maximise the potential of social media networks such as Facebook, Instagram, Twitter and other platforms.

It is important to create a social marketing strategy that is appropriate for each platform to reach your target audience. For example, Instagram engagement is highly based on images and videos. Meanwhile,  Twitter users are more likely to engage with news and microblog posts. Crafting the appropriate content for each platform is necessary to improve customer satisfaction and boost engagement. 

It is also important to list down the common values of your target demographic, including their age, gender, location and interests. Identifying these will help you become more equipped with the knowledge on which social media channel you should use to connect with them. 

Social media networks have targeting tools that allow businesses to target ideal customers that may use search keywords or have related interests to a certain brand or service. This will increase website traffic and in turn boost business sales. 

Social media ads can also help your business find new customers. For example, Facebook ads can show your content to a certain group of social media users that have the same pattern of online behaviours that your target audience displays.

Improve brand awareness 

Another advantage of social media marketing is that it helps businesses significantly boost brand awareness. Social media content can help a potential customer learn about your brand and what value you can provide to them. This can also help an existing customer have a better understanding of the product and services that you offer, which may lead to another purchase in your website.

By having social media profiles, businesses also have the opportunity to create the type of content that can best show their brand or product’s identity. Posting content that is engaging to your target audience will make your brand relatable both to new leads and to old customers. 

Building brand authority and loyalty

Social media posts can be an effective way to establish customer loyalty. Regular communication with customers on social media platforms will lead to higher customer satisfaction and help you create a more positive brand image. 

If customers have high satisfaction and are loyal to the brand, they will provide invaluable user-generated content that can boost business credibility and value in digital platforms. Lyfe Marketing says 71 percent of consumers who had a positive interaction or experience with a business on social media are likely to recommend their product or services.  

Increased sharing and awareness of your content will also build your brand authority. It will help you rise above your competitors and become a leader in the industry. Word-of-mouth advertising (through social media) is one of the best ways to generate new leads that may be converted into loyal customers.  

Low marketing costs

One of the reasons why social media marketing is favored by small businesses is its low marketing costs with visible results. Creating an account for your business is free on almost all social networking platforms. While paid advertising requires you to allocate some funds for your business, marketing features on these platforms allow you to manage the costs by starting small and expand accordingly. 

While big businesses will need to invest time and manpower in creating and publishing content, as well as interacting with online customers by answering their queries and responding to them in order to generate tangible results, digital marketers have reported increased conversion rates and eventually a big return of investments on social media marketing.  

Higher conversion rates

Social media marketing can help a business increase the inbound traffic to its website. Every time that a business posts content or interacts with a customer online, there is an opportunity to persuade people to visit your website. Generated leads can then be converted into sales. 

In order to increase your conversion rate, it is necessary for companies to consistently post content that will engage the target audience. Quality content is also important to engage new leads and to direct them to the brand website, which can convert them into customers. 

Better customer engagement 

Marketing through social media gives businesses a better understanding of their customers’ online behaviour. Social media platforms have analytics tools that can provide insight on which posts or content are popular with a brand’s target market. It can also help businesses see which parts of their social media management need more work.

Customers are more likely to have a stronger connection with a business or a brand that is responsive to comments or feedback rather than a company that uses automated messages. Constantly adapting your marketing strategy on social media will help your business stay relevant and will also help you to retain long-time customers. 

Being active on social media networks can also help a business gain insight into what customers are saying about their products or services. The information gathered can be used to come up with an even better strategy to enhance your brand and improve customer satisfaction. 

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• Yes

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In this digital age, social media is a major way people communicate and connect with the world. An average person spends almost two hours on different social media networks every day, with the number of first-time users rising at a rapid rate. 

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Most people think that social media platforms are only used for connecting with other people.  But there are money-making opportunities on social media if you are prepared to put in the needed time and effort. 

" ["fulltext"]=> string(6270) "

Social media accounts with a high number of followers are now widely being used for influencer marketing. 

This is a form of marketing through social media, which uses influencers or people with wide social networks to influence the behaviour of a target audience. 

Here are a number of ways you can grow your following and earn money through social media!

Choose a platform 

One of the main things to consider when creating your social media profile is which platform you’re going to work on and prioritise it. 

While it is possible to work on several sites at the same time, in the long term, you will need to focus and put a lot of time on the platform that will be most profitable for you. 

In research conducted by the World Federation of Advertisers, around 89 percent of surveyed digital marketers said Instagram is the most important social media channel for influencer marketing. 

All global marketers in the study had used Instagram as a platform for influencer marketing. Facebook and Youtube were the second and third most popular. 

Upon choosing which platform you do decide to work on, you should then hone in on a niche. This will determine what kind of following you will have and what type of content you should be creating for your target audience.

It is advisable to choose a niche that fits your specialty or interests. When choosing your niche, it is also important to consider if your chosen topic will continue to generate content and remain relevant more long-term. 

Influencers are also advised that they should produce content that is consistent. 

By producing content that is loyal to your niche, your followers will eventually think that your account is a reliable source of information for a particular topic. It will also attract new followers that are looking for experts in that particular field or industry. 

 Increase engagement rates 

Companies and brands want to market with social media influencers that have a big following due to their high engagement rates. 

That’s why it’s crucial to have a solid number of followers that are receptive to the type of content that you are producing. 

To increase the number of followers your social media account attracts, you must produce high-quality content that will be appealing to your target audience. This is when an investment in equipment can help. Having good content that adds value to your followers will also boost your legitimacy. It will also help build a good image for your personal brand. 

It is also necessary to establish a personal connection with followers by engaging with them frequently. This can become difficult as followers increase, but it will help the audience feel that they have a special connection with you.

If you have built a strong enough rapport with your followers, they will be more willing to act on your recommendations and click through the links of products and services that you share. 

Join an influencer network 

It can be difficult to connect with brands if you are just starting to build your following. Joining networks made for influencers can help you to jumpstart your social media platform’s monetisation. 

These platforms connect brands with social media influencers that produce content related to their products or services. These networks will also manage all communication with brands or businesses that influencers are working with. 

Influencers must properly research these platforms to find out which one will help them attain their goals for their social media account. 

Promote products and services 
 

One direct way of monetising your social media account is by promoting products and services of businesses and brands through sponsored posts. 

Profits from a sponsored post will usually depend on the number of followers you have and the engagement rates that your social media profile has or can offer. 

To get sponsorship, you can reach out to brands or companies that are selling products and services that are in line with your niche.

Avoid collaborating with any brand that is against your social media brand’s values or identity. For example, if you are a fitness channel, your following may be composed mostly of health buffs or people who are trying to be fit. In this case, you are probably better off promoting health products and exercise equipment rather than unhealthy foods! 

Engage in affiliate marketing 

Another way to make money on social media is through affiliate marketing. 

Influencers can earn money by sharing affiliate links of a company’s product or services through their social media platforms. Influencers will get a profit or commission from sales through their social media channel.  

To have a higher engagement rate on affiliate posts, most influencers provide honest reviews of the affiliate products and services that they are promoting. It can be in the form of a blog, a video or even a photo detailing the product review in the caption. 

 It is also a “best practice” of major influencers to fully disclose their affiliate relationships with brands. It would allow their followers to know which content is promoted and which is not. This can help influencers maintain their credibility and retain engagement from followers. 

Conclusion 

There are plenty of ways to make money on social media. By increasing the number of your followers and boosting your social media engagement, you can have the opportunity to be an influencer and earn money by marketing with brands and companies. 

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• Yes

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Most people think that social media platforms are only used for connecting with other people.  But there are money-making opportunities on social media if you are prepared to put in the needed time and effort. 

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int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(69) "/earn-money/digital-marketing/ways-you-can-make-money-on-social-media" ["image"]=> string(55) "images/article-826x550/online-credit-card-laptop-ne.jpg" ["image_alt"]=> string(39) "Ways you can make money on social media" } [5]=> object(stdClass)#10873 (57) { ["id"]=> int(14332) ["title"]=> string(53) "nestegg’s most commonly searched questions in 2019 " ["alias"]=> string(50) "nestegg-s-most-commonly-searched-questions-in-2019" ["introtext"]=> string(125) "

Here at nestegg, we pride ourselves on helping everyday Australians find the financial answers they are looking for.

" ["fulltext"]=> string(3088) "

Based on our data, we were able to see exactly what questions our audience most wanted the answers to in 2019.

Have you ever wondered about any of the following?

5. How do I protect money in a divorce?

It seems slightly unfortunate that this one made the top five most read questions that became an article on nestegg in 2019, but it’s no less important.

And as the article says, “it might seem like a pessimistic and unromantic view of marriage, but divorce can happen to anyone regardless of age, race, sex, length and intensity of a couple’s relationship prior to marriage”.

4. How are ETFs taxed?

An old article but a good one, Stockspot’s CEO and founder Chris Brycki gave a comprehensive rundown on ETFs and how they are taxed back in 2016 when they first became more accessible to the average investor.

With a run down of the top five things for an investor to consider regarding ETF tax, it’s a mainstay and endearingly popular for nestegg readers looking to diversify their investments.

3. What’s the difference between a resident and non-resident for tax purposes?

The Australian Tax Office taxes individuals differently depending on their residency status – but the difference can be confusing.

To clear things up, we’ve outlined the different tests that are used by the ATO to determine residency as well as how they are applied.

2. What are franking credits?

Considering the divisive role franking credits played in the discourse of the 2019 federal election, it’s no surprise this was nestegg’s second-most researched question over the last 12 months.

Considering the fact that Scott Morrison went on to win the election and keep franking credits as a policy-based mainstay, it’ll no doubt still be a question asked by avid investors well into 2020.

    1. What is wealthy in Australia?

It can be hard work keeping up with the Joneses!

But in all serious – how do we measure wealth in Australia? Is it income? Assets? Property?

In this article from 2018, a number of experts weighed in – and their answers might surprise you.

You might even be left with more questions than you started with! 

Got a question that you can’t find the answer to? Let us know https://www.nestegg.com.au/contact-nestegg and we’ll write all about it in 2020!

 

 

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• Yes

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Here at nestegg, we pride ourselves on helping everyday Australians find the financial answers they are looking for.

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