What Are the Sources of Making Money for Social Media Influencers?
By now, we know that influencers and content creators have various streams of income and it's not only our views that get them the money. How much they get paid depends on a lot of factors like how vast their reach is, which platform they are on, and other things. Among all the things that get them the most money is of course the brand deals.
TikTok user Naomi Melanie Leanage earned around $200,000 in a year from collaboration with around half a million subscribers on her handle. She also reportedly makes a minimum of $6000 for a TikTok post. Besides this, they get paid from the platform. YouTube, for example, has a program called the Partners Program that ensures that the creators get paid as they post. TikTok on the other hand pays directly through its creator fund and creativity program and also through Pulse which is its ad revenue program. Here's a further breakdown of how influencers and content creators get paid.
How do creators on TikTok get paid?
One must be 18 or older and should have at least 10,000 followers to be able to be a part of the TikTok Creator Fund. They also need to have accrued at least 100,000 views in the last 30 days. These payments are generally not sufficient to sustain and hence creators often rely on brand deals and sponsored content. Rates of the deals may vary from influencer to influencer depending on how great their content metrics are.
Brand collaboration is the key
Mostly, it all begins when the brand sends an email to the influencer inviting them to collaborate on a specific campaign. Creators can promote products on services in various ways. The length of the video and the effort mostly dictate how much they will be paid for the collaboration.
Instagram has reportedly launched more than 10 money-making tools for creators since 2020 after their creators' community really boomed. Many brands have increased their marketing budgets when it comes to these social media platforms. However, it is still extremely hard to make a stable income through social media, and hence, people still look at YouTube when it comes to creating a sustainable profession. Another way the influencers are earning is by promoting songs. Music marketers and record label companies keep aside a budget for their marketing on social media and hence, it has become one of the major ways to do business
Do influencers earn from affiliate links?
Definitely! Influencers use affiliate marketing to earn outside of sponsored and normal revenues from the videos. From big brands like Amazon or Revolve to smaller platforms like LTK and MagicLinks, there are plenty of ways for influencers to earn a bit extra from promoting products. "There's a very low barrier to entry to using affiliate programs," influencer Kara Harms previously told Insider and hence, this way of earning money is accessible for many. Influencers mostly use these as stepping stones to getting bigger deals.
The bottom line
While social media influencing can be a great way to earn some extra money, it cannot be the primary way of earning a living. Having said that, it's not entirely impossible if you have a proper plan chalked out. YouTube can definitely be a sustainable way of earning a living, as consistently posting on YouTube can bring in big bucks. Also, amassing a following and dedicating your time to creating valuable content will always pay off in the long run. Many influencers have also gone on to launch their brands which have done really well, for example, Jeffree Star Cosmetics and Huda Beauty.