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If you spend enough time on social media, you’d probably be convinced that content creators – and, specifically, social media influencers – are bringing in the big bucks these days. They seem to be vacationing at hot travel destinations, splurging on luxury goods, and generally living a fabulous life. And you hear stories all the time about how popular social media celebrities are making millions of dollars from ads and sponsorships.
But what’s the reality? Unless you’re a top-tier, A-list content creator, you’re probably not making the big bucks. In fact, even if you’re attracting thousands of new followers and getting millions of new views and impressions on your content, you may be having a very hard time making ends meet. In some cases, you might only be making a few hundred dollars a month, or even less.
The race to monetize social media content
That might help to explain why there are ads and promotions everywhere you look on social media these days. Just think about YouTube and your favorite YouTube content creators. There are ads you’re forced to watch before the video starts, in-video ads that pop up every few minutes, and ads at the end of the video. Moreover, there are usually live “ad reads” by the content creator himself or herself during the video, which are impossible to avoid. Add in the fact that there are constant promotions throughout a video, along with plenty of affiliate links to click on, and you can see how hard it must be to monetize content these days.
So if content creators aren’t making the big bucks, who is? The answer is obvious: the social media companies themselves. They’re making money from all those ads, and they’re also taking a piece of any side action that content creators are earning. In addition, they often encourage content creators to upgrade to new premium offerings that cost money, so they’re also monetizing the content creators themselves.
Are there other options for social media content creators?
The good news is that you have options. According to some content creators who have tried the social media monetization path, the best option is to own the content yourself. In other words, why rely on Facebook, YouTube, TikTok, or Instagram, when you can launch your own platform? That way, you don’t have to share a piece of the pie with them.
Another option is to rely on email as your primary moneymaker. Once you’ve built up a large enough subscriber audience, you can think about creating a premium (i.e. paid) version of your email newsletter. You can also reach out to sponsors directly, to see if they would be willing to advertise with you. And you can also use those email newsletters to pitch new products, new services, and new offerings. That way, you can collect money directly, instead of having to pay a social media company.
At the very least, you need to start thinking about how to avoid becoming a slave to the algorithm. If you are creating content only to appease an algorithm, then you’re in trouble. Ultimately, you’ll be forced to create content that you might not feel comfortable creating – such as polarizing content or pure clickbait. After all, if you want the clicks and you want the engagement, you need to deliver what the algorithms want.
Own and control your own content
The big takeaway here is that you really need to start thinking about owning and controlling your own content these days. Relying on social media platforms for your income is a losing battle. When you own and control your own content, you also keep 100% of the revenue. And, in the end, that’s what is going to power you to future business success.
