How to Generate Multiple Revenue Streams as a Creator
Many creators dream about quitting their day jobs and being able to earn enough money through their content. But very few actually can.
Only 12% of full-time creators earn more or around $50K a year, while 46% make less than $1K a year.
However, don’t let those numbers discourage you. If you take the time to hone your craft and learn how to get money from your hard work, then you can join the small percent (7%) of creators earning over $100K a year.
From crafting your digital presence to forming collaborations, monetizing your creations, and sealing the deal with brands, our guide has got you covered. But first, let’s cover a few basics.
Content Creators vs Influencers: What’s the Difference?
So you’ve probably heard the terms “content creator” and “influencer” thrown around a lot, and most confusingly, used interchangeably. Yes. They are similar. But there is a key difference between the two.
A “content creator”, or “creator” is anyone who creates content (digitally or sometimes even physically, like Spring creators). An “influencer” is a personality who influences their audience to purchase the products or services they promote (which also encompasses some Spring creators).
It’s easy to see why there is so much overlap between the two as most influencers and creators have a great blend of content creation, promotion, and personal branding. If you’re a new Spring creator, you can be both as well!
How Much Money Do Influencers and Content Creators Make?
The short answer is it depends on a number of factors, including your niche, experience, and strategy. Plus the creator industry is still somewhat young, so there is no one-size-fits-all rule for pricing––again, influenced by strategy, experience, and niche.
But there is a statistic that might shed some insight for you: According to Creator Rates Report, 44% of creators have earned over $200 USD from a single Instagram Reel so far in 2023.
So, there is money to be made from content you make and promote, and there are numerous ways to earn it.
Here are 11 ways how: 😉💰
#1: Build Your Social Media Following Across Multiple Channels
If you’re brand new to this, just focus on one social channel. It’s a great way to engage and build your community. Starting with multiple channels spreads your focus too thin. At first! But once you begin to build your community, cutting out the other platforms limits your reach and ability to make more money.
What you want to do at that point is what is called cross-promotion. Let’s say, for example, your main platform is Instagram. Repurpose your Reels for other social platforms like YouTube and TikTok. This is the beginning of building something big across multiple channels and opening yourself to another level of potential ad revenue, brand opportunities, and partnerships.
#2: Collaborate With Other Creators and Influencers
Learn which creators and influencers are also in your niche. Team up with them. It’s a great way to engage and leverage followers and more importantly, make more $$$. Put out online courses. Launch products. Do Instagram Collabs (which means it shows up on both of your socials). Or host an Instagram giveaway. Or all of the above. Sky’s the limit.
Note: Another benefit to IG collabs: You’ll share likes, comments, views, and communities, which is why it’s important you both belong to the same niche. Because when speaking to the same target audience, you’re increasing exposure and revenue at the same time!
#3: Sell Products & Merch
We don’t need to tell you how powerful social media is when it comes to putting your products in front of potential customers. It’s not just about selling one product to one person. That one person will showcase your product to others and so on. Hoodies, T-shirts, hats, mugs, totes, phone cases and so on, the opportunities are endless.
If you know your niche and community, your followers will be excited to support you because they love your products and your messaging. Many times your followers become ambassadors!
Make sure you create a mailing list and newsletter––it’s a perfect way to communicate the promotions you’re running as well as restocks, product launches, and so on.
#4: Put Exclusive Content on Patreon
If you already have an established online community, with a paid Patreon membership your followers can access exclusive content. The key word here is exclusive, meaning they won’t find it anywhere else.
This content can even drive your followers to other places like your Spring store. With reward tiers valued at $10, $5, and $2, some creators make up to $1K a month just from this method alone!
#5: Brand Sponsorships
Influence starts with a social media following. If you build your audience, other brands will come. Yes, brands will pay you well to promote them to your audience. The bigger the audience, the bigger the reward:)
One rule of thumb is that it’s usually about one cent per follower (or for example $100 per 10K followers) when you first start out.
#6: Platform Creator Funds
Platforms know content creation is a grind. They’ll pay big time for posts that perform the most. Both TikTok and Youtube have creator funds.
Do you already create high-performing content or have a decent following? Then there is a lot of money to be made.
TikTok alone has said they are investing over $1 Billion in their creator fund because they see the value in high-performing content and they know the resources required to create it. If you’d like to learn more about how to make money on TikTok and the creator fund itself, read our blog here.
#7: Affiliate Marketing
Plug products for others. They’ll pay! Approach companies that you are already plugging or would like to. Promote products that you like, trust, and that will appeal to your audience.
You can earn commission on the sales and traffic you drive on behalf of brands. Be sure to share links or codes to track purchases so that you receive your commission. Use uniquely trackable links (known as affiliate links) or a custom-made promo code to easily trace clicks and purchases.
You may not make money right away, but if you are consistent, then over time you’ll build revenue.
#8: Instagram Subscriptions
For creators on Instagram, this is similar to Patreon. IG gives you the option to monetize your exclusive content in what’s called Instagram Subscriptions. It provides a different, new way to make money from Reels and feed posts.
Depending on your preference, you can select from price points ranging from $0.99 per month to $99.99 per month.
This is easy extra income! Since you can do this straight from the app, there is no excuse to not dive in for what’s basically free money for something you’re already doing!
#9: Teach a Course on Kajabi
Learning online is really what everyone does nowadays. Utilize platforms like our partner Kajabi to teach online courses (even if your niche is something you might think is insignificant).
This can help you reach a different niche of people from your other channels. And it doesn’t hurt that top-earning teachers can make up to $100K a year!
#10: Become a Coach or Consultant
Some creators don’t have time to do a full-fledged video series or class. A great way to do it in small chunks is by offering private coaching or consultation services.
You can also offer portfolio reviews. Or go one step further by doing one-on-one consulting zooms. Your followers will always appreciate learning from you one-on-one.
#11: Promote Your Posts with Social Media Ads
Sometimes you gotta spend some money to make more. The key word is more. Social media advertising is a perfect place to begin. Target Facebook and Instagram users who have never heard of you or your brand with Facebook Ads Manager.
Even people who visit your store but don’t make purchases can be targeted. Basically you’re fast-tracking the process of placing your target audience in front of your products in just a few clicks!
See? Eleven solid ways to expand your reach and watch the money start rollin’ in! Happy selling and promoting.