The digital era has revolutionized the way we can earn a living, with social media platforms standing at the forefront of this transformation. Making money as an influencer means the ability to convert likes, shares and comments into a steady income stream. Understanding how to effectively monetize social media influence is crucial in the competitive landscape of social media marketing and influencer marketing.
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15 ways to make money as an influencer
The influencer landscape is teeming with opportunities for monetization. Here are 15 strategies influencers can employ to turn their social media prowess into profit.
01. Sponsored posts
Partnering with brands to create content that features their products or services is a primary way to make money for many influencers. The key to success with sponsored posts is to maintain authenticity and choose collaborations that align with your personal or business brand. Where possible you should have at least tried the product or service you’re promoting.
Pros
Potentially high earnings depending on which brands you work with and how.
Increases credibility when you partner with reputable brands which then helps you build monetization relationships with other brands.
Cons
There’s a risk of alienating followers if sponsored posts are overdone or not aligned with your values.
Clearly disclose partnerships and work with brands that resonate with your audience. Most social media platforms have strict guidelines on labeling sponsored posts as such.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Low-Mid
02. Affiliate marketing
Affiliate marketing involves promoting products and earning a commission for every sale made through a unique referral link. You can make money as an influencer by including affiliate links to services and products in your content, either in the text, the images, or the video.
Pros
Passive income potential, once the link and content is live it can earn you money indefinitely.
There is a wide range of products to choose from when it comes to affiliate marketing making it easy to find something that you want to recommend.
Cons
The amount of Income you make as an influencer here depends on the audience's willingness to purchase what you’re linking to.
You may require significant traffic to generate substantial earnings, so this is why it’s also important to promote products you genuinely use and believe in to maintain trust with your audience.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Low-Mid
03. Influencer merchandise
Creating and selling branded merchandise can be a lucrative way to make money for influencers with a devoted fan base. This can range from apparel to digital products like e-books or courses. An easy way to create and sell influencer merchandise is with print on demand companies, design your prints or have someone do it for you, set up a print-on-demand business and get selling.
Some well-known influencers who have also pivoted to selling merchandise include Zach King, PewDiePie and Dude Perfect.
Pros
Branded merchandise strengthens your influencer brand identity.
High profit margins are possible.
Cons:
Requires upfront investment, even with print-on-demand.
Success depends on the strength of your brand and how in demand your merchandise is. This is definitely a way to make money for a more established influencer.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Mid-High
Get started with Wix print on demand or with one of this range of best ecommerce platforms.
04. Paid subscriptions and exclusive content
After making a website you can offer content as part of a subscription service. The content can include behind-the-scenes clips, tutorials or early access to videos. Subscribers get early access or VIP access to this content for a monthly fee. It guarantees that you make money as an influencer and this can be consistent income depending on how well you maintain your subscriber base.
Pros:
Recurring revenue.
Strengthens the relationship with the most engaged followers and this engagement is everything when it comes to making money as an influencer.
Cons:
Can be challenging to maintain and grow subscribers and it requires consistent delivery of value.
Offer various pricing tiers and ensure exclusive content is truly valuable and unique so that you’re delivering value for money.
Profitability potential as a way to make money as an influencer: Mid
Effort as a way to make money as an influencer: Mid-High
05. Speaking engagements
Influencers with expertise in a specific area can monetize their knowledge by speaking engagements at conferences, workshops or corporate events. You can speak on what it means to be an influencer and how to be a successful one, or you can speak on the topics your social media content and influencing focuses on. For example, an influencer who focuses on parenting content might also give speeches on being a parenting influencer but they may also speak on a wide range of topics relevant to other parents - such as child development, or how to find the best kindergarten.
Pros:
High earning potential for a single event.
Speaking engagements enhance credibility and expertise, beyond a social media platform.
Cons:
Speaking opportunities may be infrequent depending on your area and competition may be fierce.
Making money this way requires public speaking skills which may not come naturally to someone use to sharing content on social media only.
Profitability potential as a way to make money as an influencer: Mid
Effort as a way to make money as an influencer: Mid-High
Other ways to make money as a influencer:
06. Hosting events or workshops
Organizing and hosting events or workshops is another way to engage with your audience while generating income as an influencer. These events or workshops can also be about how to become an influencer or how to be successful as one. Or they can revolve around your social media content. For example, a beauty influencer could run makeup workshops or tutorials online, or in person.
Pros:
You can earn direct income from ticket sales and attendance, even if there’s no sponsorship or product placement involved.
Cons:
In-person events come with logistical challenges, meaning significant planning and marketing are required.
If you’re just getting started it's worth collaborating with other influences to run events, to share the workload.
Profitability potential as a way to make money as an influencer: Mid
Effort as a way to make money as an influencer: Mid-High
07. Brand ambassadorships
By building long-term partnerships with brands as a brand ambassador you can make a steady income as an influencer. They may pay you per a certain number of posts or over a period of months or years. Usually, the hardest part of this idea is finding the brands to partner with, however, if you have an engaged following in a niche, the brands may come looking for you too.
Pros:
Long-term security for income.
The contract often includes free products or experiences.
Cons:
May limit opportunities with competing brands so be sure to choose brands that you are passionate about and that fit naturally with your content.
Requires ongoing commitment in terms of content creation and brands may set strict criteria for the styles, types and quality of the content as well as posting frequency.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Mid
08. Social media takeovers
A fun and creative way to make money as an influencer is to take over a brand's social media account for a set period for an agreed-upon fee. You then create and upload content to the brand's social media accounts. They capitalize on your following and influence and you get paid a set amount. This makes it a win-win.
Pros:
High visibility as if you work with a large brand, it also exposes you to more potential followers for your own social media accounts.
Cons:
Some in your audience may think of it as being less personal.
You might not have that much control over the content you control and post as it will be directed by the brand you’re working with. The key to being really successful with this is to create content that goes viral for the brand and amongst your followers.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Mid
09. Content syndication
You can consider licensing your content to be republished on other platforms or media outlets as another way to make money as an influencer. You could also agree for it to be used in ads or other promotional campaigns by brands and businesses, for an agreed-upon amount.
Pros:
Leverages existing content so you can make money without having to invest in new content - make money from home.
Expand your audience reach on social media and off it.
Cons:
You may have less control over how your content is used once you license it to someone else. So if you can, it's worth negotiating to make sure you know how your content will be used in the future.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Mid
10. Online courses and webinars
Sharing your expertise through online courses or webinars can attract individuals willing to pay to learn your knowledge and skills. This is a good way to take everything you’ve learned as an influencer and business owner and repackage it as a way to make money.
Pros:
There is potential for scalable income as there’s no limit to the number of courses you can create and the number of people you can attract to buy them.
It positions you as an expert in your field which makes influencing easier.
Cons:
Requires time and investment to create high-quality content for courses and workshops.
These types of content need to be updated regularly. Remember to focus on topics that you know there is demand for.
Profitability potential as a way to make money as an influencer: Mid
Effort as a way to make money as an influencer: High
11. Consulting services
Offering consulting services in your area of influence can be a profitable way to leverage your expertise. You can run group or 1:1 sessions either in-person or online. You can make money as an influencer by helping new or potential influencers get started with their careers. You can also offer consulting services to businesses looking to build their own brand influencers or to grow their social media presence.
Pros:
Depending on the brands you work with there is high earning potential here, especially if you work with brands.
Cons:
Consulting can be time-consuming and may distract from your content creation. You’ll need to set clear boundaries and scope for consulting services to maintain balance.
Profitability potential as a way to make money as an influencer: Mid
Effort as a way to make money as an influencer: High
12. Writing books
Publishing a book or e-book can be an excellent way to share your story or expertise while earning royalties. There are plenty of options for self-publishing and with a website, you can sell your book directly to your followers. This can be a time-intensive way to make money as an influencer but if it’s successful it can generate passive income for many years.
Pros:
Passive income after the initial effort of writing, publishing, promoting and selling your book.
Great for personal brand building.
Cons:
It’s time-consuming to write and edit a book, much less sell it.
Market saturation and high competition can make it hard to stand out. Promote your book through your social media channels and consider self-publishing options for greater control.
Profitability potential as a way to make money as an influencer: Low
Effort as a way to make money as an influencer: High
13. Podcasting
Starting a podcast can open up avenues for sponsorships, advertising and even premium content offerings. It’s a great way to broaden the ways to make money as an influencer. It’s essentially another online channel to build an audience and monetization options.
Pros:
Podcasts are popular and can attract a large following, as well as help you build a deeper connection with listeners.
Cons:
It can be highly competitive, like social media.
Requires consistent content production which you’d need to manage alongside creating your social media content.
Profitability potential as a way to make money as an influencer: Mid
Effort as a way to make money as an influencer: High
14. Mobile app and game development
Developing an app or game related to your brand as an influencer can be a unique way to monetize your influence. Gaming influencers make up a huge number of some of the most popular influencers currently active today, including Mr. Beast. So taking the leap from influencing to game development isn’t always such a large one. However if you don’t have the necessary technical skills to build an app or game, you’d need to work with someone who can. You also need to be confident, before investing in its development, that you have the market to sell it to.
Pros:
Potential for viral success and long-term financial game.
Great diverse revenue options through ads, in-app purchases and more, beyond just the game or app itself.
Cons:
Requires technical expertise or investment which can be significant, making this a high-risk way to make money as an influencer, even a very successful one.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: High
15. Licensing deals
Licensing your name or brand to products can result in royalties without the need for direct management. What this means is you grant permission to brands, companies and other influencers to use your name to endorse their products or services but they create the content around it.
Pros:
Passive income; expands brand presence.
Cons:
Making money this way as an influencer means less control over content quality and the potential for brand dilution. Make sure to work with reputable companies and ensure contracts are clear on quality expectations for where and how your name and brand will be used.
Profitability potential as a way to make money as an influencer: High
Effort as a way to make money as an influencer: Low
How to make money as an influencer
Making money as an online influencer requires a robust monetization strategy that aligns with both your personal and business values. The following are a number of things to consider when turning social media influence into profit.
Audience and market demand: Influencers must consider their niche, audience demographics, engagement rates and content style. The following size plays a role in making money as an influencer but engagement metrics often prove more valuable to potential partners and brands. It's also vital to assess market demand and to stay abreast of trends on social media platforms.
Build a personal brand first and foremost: An influencer's monetization strategy should resonate with their personal brand to maintain authenticity is a key factor in audience retention and trust. It's essential to choose methods that feel organic and provide value to the audience, whether through entertainment, education, or inspiration. Understanding audience preferences can guide influencers in selecting the most appropriate and lucrative opportunities, such as sponsored posts, affiliate marketing, or selling branded merchandise.
Make a website: A professional website acts as a central hub for all influencer activities and offers a space to showcase a portfolio, services and contact information for potential collaborations. You can also consider making an eCommerce website to sell merchandise.
Create a business plan: Drafting a business plan helps influencers define their goals, target audience, revenue streams and strategies for growth. Keep it flexible and revisit your business plan regularly to adapt to market changes.
Build a media kit: A media kit is an influencer's resume, showcasing metrics, demographics, past collaborations and rates. It's essential for pitching to brands and securing deals. Include high-quality visuals and clear, concise information about your influence and reach.
Develop a content strategy: A consistent and engaging content strategy is crucial to maintain and grow your audience, which, in turn, supports monetization. Plan content in advance, but remain flexible to incorporate trends and timely topics.
Networking: Building relationships with other influencers, brands and industry professionals can lead to new opportunities and increased exposure.
How to make money as an influencer FAQ
How much money can I make as an influencer?
The earning potential of an influencer varies widely based on factors such as niche, audience size, engagement rates and the monetization strategies employed. While some influencers make a modest income, others can earn substantial amounts, even reaching six or seven figures annually.