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You’ll likely need money to do many of your favorite things in today’s world. The challenge is resources like money can be scarce and also abundant [yes very confusing]. So if you need money you need to offer something valuable in exchange for money. Today, we will share strategies you can adopt to start earning money online. But we recommend you patiently follow the processes to make a sustainable income. Except you seek a get-rich-quick scheme making money requires a process.

Ten things Millennials are Doing to Make Money Online:

  1. Influencer Marketing
  2. Freelance or Offering Skills as a Service
  3. Offering Skills for Audience Engagement & Monetization
  4. Startups
  5. Service
  6. Dropshipping
  7. Affiliate Marketing
  8. Remote Work
  9. Coaching
  10. Youtube

 

  1. Influencer Marketing

Apart from being a dog lover, Dami is a 19-year-old student of Psychology at the University of Lagos. Featuring his pets on his Instagram was a rewarding coincidence he needed to start making money online.  

 

His posts started getting traction the moment he shared a few behind-the-scene clips of what it really takes to be a good dog owner. Although the page was already three years old, Dami reached his first one thousand followership in the third year. He developed imposter syndrome anxiety immediately. 

 

“1000 followers? I’m not a celebrity. How did I deserve such followers?”

 

Dog lovers were paying attention. Comments kept coming. People wanted to learn about the right dog breed for their environments, the best vet services, and even pet care tips they could adopt. Dami discovered he had to do more. But was he ready? He looked at other bigger pages and found something interesting. Their content was more organized, deliberate, and very engaging. 

He implemented a few of these elements to his page and began his influencer journey. He was still a student and had to find balance. He would binge-watch social media content tutorials when he could. However, Dami didn’t get any single reward until his fifth year when a vet brand reached out for partnership and it was worth it.  He knew people made money from social media. Of course, he knew. But this breakthrough opened his mind to the possibilities of influencer marketing. Now he had to take it seriously.

 

What is Influencer Marketing?

Influencer marketing is a promotional strategy that relies on a figure’s influence to reach a target audience with the hope that they become customers. Contrary to recent trends, influencer marketing didn’t start with social media, we already had celebrity endorsements promoting branded products globally. However, the reality of social media influence is that you don’t have to be a celebrity. Even if the odds were stacked against you’d still have a higher chance at influencer marketing success than at being a famous celeb. We owe this to social media success.

 

How does it work?

You can build your expertise in a certain field, share your content online about that field and attract a loyal community in the process. Sometimes, all you need is brand popularity and an impressive following to secure influencer gigs. Brands looking to reach their target audience in that field can deem you a good marketing partner to reach potential customers. Unlike Dami, you also don’t even have to wait till a brand connects with you.

 

Most professional influencers have structured offers for businesses and individuals who intend to collaborate with them.

 

Becoming one

As an aspiring influencer, you need to first focus on creating and sharing the value that is unique to your target audience.  Except you already have some form of influence over a large group that you can translate to social media, you need to spend time building followership. 

  • Pick a niche or field: This could mean becoming an expert in a particular subject matter. You could be a phone hack figure, video edits guru, social happening blog, celeb info, decor expert,  etc. The most important thing is you must deliver consistent value, engage with your followers, and keep growing your community to create foundations for future business opportunities.

 

2. Freelance or Offering Skills as a Service

3. Offering Skills for Audience Engagement & Monetization

4. Startups

5. Service

6. Dropshipping

7. Affiliate Marketing

8. Remote Work

9. Coaching

10. Youtube


Share for impact!

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