Becoming an online influencer is a dream for many people. There’s nothing more fun than creating content for audiences you love.
But how do you make money through this line of work? The primary option is to simply take an income from various social media platforms through advertising. However, there are so many other methods worth exploring, depending on who you are and what you do. Perhaps you don’t want ads appearing in your content, or maybe your audience just doesn’t like them.
So, what else is out there? That’s the topic of this post. We explore some extra ways to earn an income once you become an established online influencer.
Coaching
Coaching is one of the primary ways to earn extra income once you become an influencer. Teaching audience members about what you do and a topic that interests you can provide a nice side income that complements your existing strategy.
Coaching is, unfortunately, time-consuming. But it also pays well. Some coaches charge $1,000 per hour to speak to clients or run more accessible webinars that can pull in over $2,000 per session.
You will, of course, need to prepare for coaching in most cases (especially if you run a course). But the activity is often well worth it, and you get to meet a lot of interesting people who follow you instead of the conversation always being one-way.
Crowdfunding Projects
Another option for raising cash is to engage in crowdfunding projects. These provide opportunities to earn extra income for major upcoming projects (plus a salary for you).
For example, let’s say you’re a health influencer and want money to do a monitored fast at a specialist institution. Crowdfunding could support a project like this.
You could also do something similar by funding a study to learn more about what helps people to live longer. Getting your audience to fund new science could help make your channel more interesting and compelling.
Consulting
Similar to coaching, you could also do consulting (depending on your niche). Setting yourself up as an expert in your field can attract business clients who require deep and profound insights to help their companies grow.
Sometimes, other influencers want to hire you as a consultant. These partnerships can be highly lucrative, and sometimes you can earn a stake in their future success.
Selling Digital Assets
Another clever way to earn extra income as an influencer is to sell digital assets. These are highly scalable and provide you with a steady income every time someone starts a download.
Depending on your niche, you could sell all sorts of things. E-books are an obvious option, but stock photos, design photos, and video content are all relevant.
You can price digital assets based on how much you think they are worth to the marginal consumer. Keep adjusting the price until you hit a revenue sweet spot. Sometimes higher prices aren’t the answer.
Leverage Subscription-Based Payment Models
You also want to leverage subscription-based payment models where possible. These encourage your audience to make regular payments to you over time.
Influencers mostly use subscriptions to create paywalls for premium content. For example, you might post your generic content publicly and then go deeper once they sign up and start sending you money. This approach is an excellent idea in industries or niches where individuals need accurate information.
Sell Merch
Another strategy is to sell merchandise through your social media channels. Getting people to buy tees, hoodies, and posters can provide substantial extra income. Every time someone wants to celebrate your brand, they can shop online for merchandise relating to you and what you do.
Unfortunately, selling physical products is much harder than digital ones because it requires far more in-depth organization to get it right. With that said WooCommerce fulfillment services are popping up all over the place, distributing products for a fee.
Influencers who sell the most merch are those with the most loyal brand followers. This means that as you improve your content you are more likely to attract the individuals looking to buy from you.
Offer Exclusive Memberships
Offering exclusive memberships to audience members can also work. These offer restricted content fans can’t get elsewhere.
Numerous sites already offer services like this, including Patreon and Substack. These link to your social media accounts and provide gateways for audience members who want to go deeper with you daily.
Exclusive memberships need to be valuable, though. They should offer things viewers can’t get from your main content, including YouTube videos, podcasts, blog posts, and newsletters. These resources should provide actionable information on how people can improve their businesses and lives. If they don’t feel it is offering value for money, they will leave.
Brand Collaborations
If that isn’t an option, brand collaborations may also work. These see you working with an existing company to promote their products/services and may continue long term.
Right now, a lot of companies are searching for user-generated content (UGC). They want influencers to be marketing surrogates, talking to their audiences like peers. You could be one of these individuals, selling products to audiences but also remaining authentic.
Brand collaborations are nice because they provide a steady income. Many companies will pay you long-term to support their cause, as long as you meet their deliverable requirements.
Affiliate Marketing
Affiliate marketing is a tried-and-tested method to generate a secondary income from content. It’s scalable and often enables the generation of a larger income than if you stick to simple, basic approaches.
Commissions are often generous because companies want you to sell their products. Most pay around 10% but you can find some that offer more than this.
Often, you only need a few dozen people to use affiliate links every month to get a nice secondary income. Money rolls in thick and fast if audiences believe they’re getting a good deal.
So there you have it: some of the ways you can earn extra money as an online influencer. You don’t just have to rely on in-platform ad revenue.