Does Your New Year Resolution Include Baggin’ Lucrative Social Media Money?

Hey, my business people. In today’s Affluent Blacks news report as we wrap up the year:
Every new year brings new years resolutions, and making more money is right up there with losing weight. Many of you are making the switch to making money on social media in various ways. Gaming, real estate, stock market investing, and crypto are some popular areas that some are basing their social media platforms on. What are you planning to do to make more money in the new year? Here are some stories from this year about how much money people are making from Instagram, TikTok, YouTube and Amazon Live. And don’t sleep on Twitch as it is taking over the gaming space.
In general, social media influencers make money from ad revenue, affiliate programs with online retailers, sponsorships or flat out selling merch. Business Insider described how a stay at home mom, Jehava Brown, works from home full time by working with brands like Walmart, Amazon, and Disney on paid partnerships. She has about 196k followers on Instagram and is charging a whopping $5k per post and $3k per story. Man! Are you bankin’ like that? It’s time to re-evaluate my whole life after reading that lol.
Also, not too long ago we did a video segment of a lifestyle influencer from right here in the Dallas area, JaLisa Vaughn Jefferson, who has almost 300k Instagram followers and racked up a milli in revenues this past year.
Of course, as the article points out, “Rates for these types of brand deals vary based on an influencer’s engagement rate, platform, and other factors like usage rights.” So what kind of rates can you get? For sponsorships and other non advertising related revenue opportunities, it will vary based on what you can negotiate or how much the potential sponsor thinks your social media page is worth to them. The number of followers is nice but not the main factor. Sponsors and advertisers look for engagement: how many people comment and share your content.

But circling back to advertising revenue, YouTube has several tiers. I only have time in this video to look at the most common tier where you hit 1,000 subscribers and had 4,000 hours of watch time from viewers in the previous 12 months. Hitting that number in YouTube is not easy compared to other social media platforms like Instagram. The difficulty might be related to the fact that after you hit 1,000, YouTube will pay you 55% of the ad revenue, keeping the rest. So for those who have 900 subscribers, YouTube is making 100% of the revenue. Hmmm. Speaking of that, be sure to follow us so we can get up there and help others come along, lol.
Once you’re at 1,000 subscribers, the number of views for your videos becomes important. In other words, eyeballs. Even with traditional TV, viewership matters, so you have to adopt the mindset that every cable or satellite TV channel lives and dies by. Several of the YouTube channels Business Insider talked to said they were seeing around $2 for every 1,000 views, though it can fluctuate a dollar down or up depending on demand from advertisers. This is what they call “Revenue Per Mille” or RPM.
Now this may sound low if you’re not good at math, but keep in mind this is for one video. If you post a video that ends up getting 10,000 views in 24 hours, that’s $20 that you didn’t have before. Imagine if you crank out 5 videos a day with 10k views. That’s $200 in 24 hours. Plus, some YouTubers make money from collecting coins during livestreams, where they get super chats and membership money. And if you’re an expert in your field, some members may want to book one on one sessions with you. See how nice that can add up if you put in that work, brothas and sistas?
So what are you waiting for? Get up and hustle hard, makin’ that bag sag to the ground with heavy money for the new year. Follow this channel as I’ll be bringing more business knowledge into this space to help you ramp up your business.

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