Want to Make a Living off Social Media? Here’s How
Making social media a full-time job sounds tempting, and when millions of others have been able to do so, the risk seems worth it. But how long does it actually take to make a liveable wage, and what does it involve? Michael Holmes, founder of video editing service Vidpros, has weighed in on the topic, giving an average timeline and some tips to help you earn a sustainable wage on social media.
According to Michael, aspiring influencers need at least 18 months of consistent content creation before they would be able to make a living off social media, and even that isn’t a guarantee. Not only does success not happen overnight, sometimes it doesn’t happen at all. Michael says the first three to six months are all about building your audience. This is when you need to focus on creating and maintaining a relationship with your followers and finding what sort of niche you want to create content for. Answer questions, reply to, and like comments, showing that you’re a real person behind the screen.
After that, it’s all about consistency. Research from DemandSage shows that it takes around six and a half months for creators to earn their first dollar. Michael explains that the reason so many fail is that once the excitement of starting a social media platform wears off and followers start to plateau, people give up, but this is exactly when perseverance is key. Continue posting, talk about relevant content, and interact with your audience as much as possible as you build momentum. At the 18-month mark, income should start to stabilise to the point where you can think about making content full-time.
Michael notes that the platform you use will make a difference in how much money you make. Epidemic Sound found that 30% of creators believe that TikTok is the best platform for earning money, while 25.8% thought it was YouTube. It’s estimated that once you’re part of the TikTok Creator Rewards Program, you can earn between $0.02 and $0.04 for every 1,000 TikTok views.
Unlike 10 years ago, just creating the content you want to make may not be enough to earn a liveable wage anymore. One study by Influencer Marketing Hub found that a whopping 92% of influencers earn the majority of their revenue through brand deals. This means that as well as building an audience of regular social media viewers, you’ll need to attract the attention of brands looking to use your platform for advertising if you want to earn a living.
Michael advises that diversifying your streams of income is the best way to pursue content creation full-time, and also the most stable approach. 67% of successful creators sell products or merchandise, 35% generate income through ads, 29% earn via affiliate links, and 28% benefit from partnerships and promotions.
Speaking as a whole, the Vidpros founder said, “Realistically, I’d urge anyone wanting a career in social media to keep their day job for at least two years. Although it can take around 18 months to see results, it’s important to give yourself a buffer to make sure what you’re doing is sustainable.
“It’s also important to note that no matter how consistent you are, no matter how much work you put in, you may never be able to support yourself completely on social media.
“The risk that it won’t work out is one you’re going to have to take if you want content creation to be your full-time profession. However, the data looks promising, with the creator economy growing at 22.5% annually, potentially reaching $528 billion by 2030.
“The best possible advice is to stay consistent and be yourself. Make a list of all the reasons why you want to start creating content that doesn’t just consist of wanting to make money. When views are down and inspiration is lacking, you can read that list to remind yourself why you started and give you the push you need to continue.”