Social media platforms have become an essential part of today’s life.
They allow us to stay connected with friends and family, share important news and events, and learn about new things.
In addition, they also provide a great way to make money.
In this post I will share with you all my experience so you can find out what is the best social media platform to make money in 2023.
This post contains affiliate links, which means I may receive a small commission, at no cost to you, if you make a purchase through a link.
what Is the best Social media platform to make money?
There are a lot of different social media platforms out there, and it can be hard to decide which one to use for making money.
But It really comes down to who you are, what you have to offer and to whom.
Some of the best social media platforms for making money include Instagram, Facebook, Youtube, and LinkedIn.
These platforms have large audiences and they offer a variety of tools and resources for businesses to use.
It’s important to choose a platform that will fit your business goals and target audience.
I personally have used Facebook, Instagram & Linkedin to make money and I will share with you what I learned from each one of them.
When it comes to making money from social media, Instagram is one of the most popular platforms.
This is because it is easy to use and it has a large active audience.
There are several ways to make money with Instagram.
You can sell products or services directly through your account, create marketing campaigns that promote your brand or manage Instagram business pages for other companies.
Here are 4 methods I have learned when it comes to making money with Instagram:
1. Selling your own products on Instagram
If you have an online store, Instagram can be a great tool to reach your audience, find new customers and boost your sales.
It can help with online stores that sell both physical and digital goods.
You can use platforms such as Shopify, Etsy and others to set up your store!
Once the store is ready, make sure to add the link in your Instagram page’s bio.
The more content you put out there, the higher the chances that your viewers click to your store’s link and why not, make purchases.
This is why many e-commerce store owners consider Instagram to be the best social media platform to make money.
2. Selling your services on Instagram
If you’re a health coach, yoga teacher or a consultant, Instagram is the right place for you to find new clients.
With the new algorythm updates, by posting Instagram Reels consistently, you can now reach audiences that you could never reach before.
If thanks to your valuable content posted consistently on Instagram, your audience starts seeing you as the solution to their needs, you can definitely sell them your coaching services or onboard them as a new student for the online course you’re selling.
(By the way I wrote an article about how to make money creating and selling online courses. If you’re interested you can check it out here.)
This is exactly why many coaches consider Instagram their best social media platform to make money.
3. Earning money as an Instagram influencer
If you’re able to grow your following through your content and you have a great reputation on Instagram, you can make money by advertising products or services of other brands.
If you have a lot of followers, brands will reach out to you through DMs and ask you if you’re interested in advertising their products.
But you can also reach out to companies of a specific niche and offer them to advertise their products to your audience.
Influencers are big on Instagram!
Even us as social media marketers, are often asked by our clients to reach out to influencers to advertise their products.
This is why it is no secret that Instagram is influencer’s best social media platform to make money.
4. Earning as a content creator, advertising specialist or as a social media manager
One way I really love using Instagram to make money, is as a content creator and as a social media marketer.
Many brands out there do not have the time or the expertise to market their company on social media, so they decide to hire a freelancer to do that!
That is exactly what me and my fiancee have done for a while now and continue to do!
We work as content creators and we often get messages from clients on Fiverr who want us to manage their Instagram business pages.
We make our offer, they accept to work with us and we get paid for managing their social media pages monthly.
If you’re interested you may want to check my article on how to become a content creator, there I explain everything i know.
How to Make Money On YouTube
For many, the best social media platform to make money is YouTube.
YouTube is a great platform for making money not only because it has 2.24 billion active users, but even because people on YouTube love to consume hours and hours of long form content.
This is something you can only notice with YouTube and no other social media platform!
This is why a lot of creators consider YouTube the best social media platform to make money.
There are many ways to monetize your channel on YouTube.
You can earn money by selling advertising space on your videos, or by charging viewers for premium features such as access to your video content before it’s released to the public.
You can also make money by creating sponsored content, in which you promote a product or service on your video.
The fact that the content will be sitting there and make money for you without requiring any additional work is simply phenomenal!
How to Make Money on Facebook
One of the best ways to make money from social media is through Facebook.
2.93 billion monthly active users make Facebook one of the most effective social media platforms for making money.
There are different ways to make money through Facebook.
Here are my favorite methods and the reasons why I personally consider Facebook to be the best social media platform to make money:
Method 1: Grow and monetize a Facebook group
If you’re an expert in a topic or a niche, you can grow a community by using Facebook groups.
Often advertising experts or health coaches, create and grow a group of people who have similiar interests or have a pain point in common.
Once you establish yourself as an expert in your group members’ eyes, you can start individual conversations with them on Messenger and offer them your services or your products, that will eventually help them with their needs.
This is great for coaches, consultants and also affiliate marketers.
Method 2. Advertise and scale your sales with Facebook Ads
Facebook Ads were and still are considered to be an extremely powerful tool when it comes to advertising.
Keep in mind that Facebook owns Instagram, Whatsapp and many other platforms.
Which means that you have the ability to display your Ads on all the channels Facebook owns.
However, Facebook Ads are extremely technical and not easy to learn. And they also require a budget.
But when it comes to targeting a specific audience, there’s nothing out there like Facebook.
Method 3. Become a Facebook Ads expert
There are so many small and big companies who are interested in maximizing their profit with Facebook Ads.
But they definitely need someone who is an expert in that, who can handle the role.
Mastering Facebook Ads and selling your expertise to these companies can be tremendously profitable.
There are freelancers charging $1K a month or more for managing Facebook Ads campaigns.
Facebook has been and continue to be the best social media platform to make money for this reason, and you should definitely consider this opportunity even in 2023!
If you want to master Facebook Ads and become a pro, consider learning from online courses on Fiverr Learn or Skillshare.
How To Earn Money On Linkedin
If you’re in this B2B space , i’m sure that for you, Linkedin is going to be the best social media platform to make money.
My favorite way of making money with Linkedin is by using a specific tool called Sales Navigator.
Sales Navigator gives you the opportunity to connect with company founders and CEOs.
And that is an incredible opportunity to sell your services or products.
If you’re an advertising expert, a sales expert or an expert in something else that a specific market values, then Sales Navigator is definitely the right place for you.
There you will be able to meet with big businesess and close great deals.
Conclusion
With so many social media platforms available to us, it can be hard to know which one is the best social media platform to make money.
It is important to avoid the shiny object syndrome and focus on two things:
1. What you have to offer
2. On what social media platform your target audience is
For some, Instagram must be the place to be, while for others it can be Facebook or YouTube.
This is why the best social media platform to make money is the one where your target audience is.
Whether you’re looking to build a passive income stream or launch a full-fledged business, there is definitely a social media platform out there where you can make good money.
So what are you waiting for? Start building your online business today!
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