making that money
making that money
Now we've gone over the basics of content - it's time to delve a little bit further into the video aspects of content. Video is the fastest growing content type on the platform - and is the most important factor. As humans we prefer video content, and tend to engage with it far more than photos or graphics!
other ways of making money as an influencer
other ways of making money as an influencer
Now I know, I know - 'brand collabs' may seem like the only way to make money as an influencer - but that's not actually true at all! In fact, 80% of influencers who earn over £5000 per month have AT LEAST three streams of revenue. Which means if you're thinking about making this your full time gig, then other ways of using your influence to make money, besides brand collabs, should be a vital part of your plan!
what is a revenue stream?
A revenue stream is the word for each of the pathways you partake in that make you money. For example, 'brand collabs' are one revenue stream, and 'affiliate links' could be another revenue stream. Think of them as different streams that all lead to your ultimate final pool of monthly income!
why do i need more than one?
Relying on one as an influencer can be risky - as the money can often be very inconsistent - due to the supply & demand lead world of influencer marketing. Just one alone will also be very hard to make a full time income out of, especially as a smaller creator.
let's talk money!
Over the next few pages I will be telling you all about the 8 revenue streams laid out above, which are perfect for making extra income as an influencer! Each of these have their pros and cons, and it's up to you which fits best with your niche, the time you have, and your overall influencer strategy and journey!
A 9th revenue stream, is of course Network Marketing. However I personally do not advocate this due to the the cons having the potential to outweigh the pros in quite a big (and serious) way. There are many stories out there online, and many I have heard from my own friends and clients, of people actually losing money rather than gaining money in these schemes. This is not me saying that network marketing wont work for you, as I also know influencers who love working for these companies! I just wont personally advertise this due to the potential costs. We will talk about selling your own products or services. Remember, this is very different to Network Marketing
Two ways of learning: read the content for a snapshot - watch the masterclass for an in-depth look!
Influencer Money Making Masterclass
This masterclass was taken from our ultimate influencer society - Our society is a monthly member's club for aspiring influencers to learn, meet and grow! The society includes monthly live masterclasses, guest masterclasses, content calendars (with key dates and content ideas for the month), freebies, challenges, and events! Want to join us? Why not check it out here.
If you prefer to read this lesson, rather than watch - all of the info is below!
Of course brand collabs are one option, and they can be a really great edition to your income if you manage to secure enough well-paid collabs each month! That being said they can be incredibly inconsistent, and although the influencer world is changing and brands are getting more switched on to the benefits of smaller influencers - there are still brands out there who will only part with money for influencers with a much larger audience.
They can also be inconsistent. An influencer with 20,000 followers could typically charge around £150-£200 per post. One month they may secure 5 - giving them a monthly earning of £750-1000. Still not a full time income, but nearly there! If they managed to secure 15 brand collabs in a month their income would raise to £2250-£3000 - a good full time income, but the time it would take to secure one paid brand collab, every other day, consistently each month - would be close to impossible! Now think about if the the next month they only managed to secure 2... £300-£400. The inconsistency alone is enough to know that it just simply isn't viable as the only option for the majority of creators!
Now let's look at the other options you have to make money as an influencer!
Ambassador programs are when a brand will pay you a percentage of every sale made as a direct result of your promotion of the product. They usually track this through a code, or tracked link that they give you to share with your followers!
This can be a great way to earn money and get exposure as a small or growing influencer! By creating content for a brand, in order to make sales, you are increasing your own portfolio of brands you've worked with! You can use this to pitch with to brands for paid work in the future!
You also get to build relationships with these brands - making them far more likely to use you for paid work in the future! The % you earn on these sales is almost always far higher than you would get through any affiliate program - with you earning between 5%-40% (where as affiliate links will give you around 0.5-5%) of sales made!
Please be cautious with ambassador programs who reach out to you. These are often scams praying on your dreams and ambitions as a growing influencer. Only ever work as an ambassador for:
brands you found yourself
big name brands
brands you already know
brands you've already bought from
Social Ad Space
Social ad space is where you sell space on your online property (i.e. website or blog) for advertisers to use. The main ad space renter is Google Adsense!
Creator programs are where a platform will pay you to create consistently good content, in order to keep people on the platform for longer! Youtube and Tiktok already have creator programs - and typically give their mid-size chosen creators around £800/month to create. This isn't a lot, and there is a cap on it. But it is great for consistency to your earnings!! (p.s. Instagram are rolling out their own one this year too!!)
Affiliate links (such as Awin and Amazon Associates) are where you get paid for promoting links to certain products, and earn a small % each time somebody clicks or buys (depending on their rules) these are easy earners as you can hide them in hyper links in your blogs - however you have to have consistently high traffic to really make a consistant ammount out of these!
Similar to affiliate links, we have affiliate programs/apps! These are applications or websites that allow you to tag products in your visual content - and get rewarded for doing so!
Guest blogging is where a blog or website will pay you to write a blog for them! This can be really great for exposure and authority, and you can often get between £50-£150 per blog you write, so similar in earning potential to brand collabs.
Selling your own Products/Services
The smartest way to use your influence to make money, and also one of the highest potential earners - is to use your influence, experience, and expertise - to sell a product or service in your niche, to your followers. The earning potential on selling your own products is uncapped. And better yet - anyone can do it! You don't need a certain amount of followers, and you have complete creative freedom!
Ideas for your own Products/Services
Use the ideas above to brainstorm what you could do. If you want to discuss this with me, online selling is my jam! I've worked with companies in so many industries, and I have helped many small businesses and personal sellers learn how to make money online! If you want me to help you discover your own brand or service, or teach you how to push your existing one more - book in a 1-1 and let's discuss!
Where to sell
there are two options to selling online - your own website, or an existing platform (or both!) check out the pros and cons of each below.