The new monetization technique which I’m sharing with you today is called “Social Media Monetization“.
The network is called Famebit.
What is Famebit & how you can make money from it?
Famebit is a platform which connects social media influencers with brands. The cool thing is that you don’t have to be the most popular person in the world to be a “social media influencer”. I will explain more about it later, but for now, let me explain what Famebit is & how it works.i
Famebit helps you to get sponsorship for your social media channels & through this sponsorship, you can earn handsome amounts of money.
As a brand, finding influencers to talk about your product on various social networking sites is the definition of viral marketing and can prove to be very valuable.
This a self-serving marketplace & it is easy to get started.
Famebit was initially started focusing on YouTubers & now it supports more social networking sites. You only need 1,000 followers on any of the accepted networks to connect and start sending proposals.
The very first thing you should do after signing up for Famebit is update your profile. Write a compelling bio & link all your social networking profiles which have a minimum of 5000 followers.
Here is a video that shows how to utilize the Famebit public profile feature:
Here is how you make money from Famebit:
Once you have created an account on Famebit (free registration), you can access their marketplace instantly. Here you can browse the brands who are looking for influencers to talk about & promote their product. You will find products related to almost all popular niches such as technology, gadgets, beauty, fashion, pets & many others.
You can sort the offers based on targeted social networks, niches & pricing. You can click on “details” to see more about the sponsorship & from here you can contact the brand with your idea of promoting them.
Click on “Send Proposal” & share your ideas with the brand on what you would be doing.
I will share some smart tips on sending Famebit proposals in upcoming posts, but for now here is just a sample rough proposal which I created for Fiverr.
It’s a good idea to include your past work so brands know what to expect. Include some data based details to get a higher chance of acceptance.
This is how the brand will see your proposal.
You can send the proposal to any number of companies. I would recommend you use a template for sending out proposals, but also be sure to make it personal.
Study the brand and come up with a unique idea.
Here’s the process:
- Once your proposal is accepted, work on the promotion plan & share the draft with the company using the Famebit dashboard.
- Once that is accepted, you can go live with it.
- Once you submit the content on your channel, the company who sponsored your content becomes the copyright owner. They can reuse it for their other media campaigns.
- For a first timer, it’s a good idea to read the terms and conditions of Famebit.
- Famebit charges 10% of the sponsored fees for providing this platform.
- Payment is made via PayPal or paper check.
- You can also download the official Famebit iOS app from the App Store.
Tip: On Famebit, you can also receive physical products to try & review. So at times, it’s OK to keep your proposal price low as you will get to review the product for free.
Overall, Famebit is one of those monetization techniques which is not limited to bloggers.Anyone who is active on social media platforms like Youtube, Facebook, Twitter (and a few more) can earn a decent income out of it. In particular, a YouTuber can earn anywhere between $10 and $20,000.
For YouTubers, I recommend using this 3rd party tool call TubeBuddy to grow their channel fast.
Have you tried Famebit? Share your experience in the comments below.
Know anyone that would like to make money by using their social media account? Let them know by sharing this article on Facebook, Twitter, or Google Plus.
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