5 Proven Ways to Make Money on Social Media (No Product Needed)

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I'm Neil Patel, and today I'm going to share with you five ways you can monetize your social media audience without a product.

Make a Fortune on Social Media #1: Promote someone else's product.

Whether it's from the affiliate rake, or they're paying you a specific cost per promotion, or whatever it may be, why not just promote someone else's product? For example, I have a huge social media following, or at least I think it's a decent size, for anything marketing related. So if I go out there and I say, hey, you should use Ahrefs or BuzzSumo, or SEMrush. I've mentioned all those tools so many times on my videos.

Most of these guys already have affiliate programs on the bottom of their website. All you have to do is sign up, and use that link whenever you're talking about them on the social web. Here's what's cool about it. You can even go to sites like Amazon, Best Buy. They all have affiliate offerings and pages.

Make a Fortune on Social Media #2: partner with someone who has a product but doesn't have a audience.

Make a Fortune on Social Media #3: place ads within your videos.

If you're on social media, create videos and put them on sites like YouTube. They'll automatically put ads for you if you want to monetize it. Yes, you're not going to be the richest person, but you can easily make 2, three grand a month. That may not seem like a lot, but it could give you enough flexibility and freedom where you don't have to work for someone else. It's awesome and amazing. Money isn't everything in this world. Making enough to be happy and having that financial freedom, in many cases, is better than making 10, 20, 50, 100 grand a month. So don't always aim for making the most amount of money, also aim for financial freedom. And by just putting ads on your videos, or if you have a WordPress site you can allow them to monetize and you can let them make you money in promoting those articles via social media. It's an amazing way to end up making free money or little, or easy money, from ads.

Make a Fortune on Social Media #4: influencer marketing. And not the same influencer marketing that I talked about a few strategies ago. Why not go and say, hey, you sell teeth whitening. I'll pay per post to promote you on Instagram. Oh, your Fit Tea, yeah I'll talk about Fit Tea. I'm a celebrity or a fitness Instagram page, and I can be breaking down and taking photos of how I'm using Fit Tea to get more fit and building these muscles.

Make a Fortune on Social Media #5: Premium content. Here's what I mean by this. On Instagram, you see a lot of these models taking pictures of themselves. And then, they use something called Patreon where they're like, hey, you can subscribe on Patreon, give me money every single month, and I'll show you premium content. You can do the same thing.

The bonus tip for you is, you don't need a product to generate income. You could go find someone else's product, white label it, in essence, you're creating your own business. They can drop ship it for you. And they'll do a deal where every time you sell a product, you send them the information, they'll ship it out, and you give them the money, and you keep the difference.

I hope these tips help you monetize your social profile. It's not that hard. You have to put in the time and effort and be patient, keep tweaking. One model may be better for you versus the other one. But you won't know unless you test them all. So just try them out. Think of it as spaghetti, throw it against the wall, see what works and sticks, and then just move forward with that. Thank you for watching. Make sure you like, share, comment. If you have any questions, you're not sure how to monetize your social profile, leave a comment. I'll answer it, and I'll give you advice. Thank you.