How to Make 6 Figures As A Social Media Manager? (11 Best Ways in 2024)
So you want to make six figures as a social media manager? Good for you! Being a social media manager is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a social media manager - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start a blog ($44.9K/month)
Starting a blog could help you make six figures as a Social Media Manager by allowing you to leverage your expertise in content creation and audience engagement. With 77% of internet users reading blogs and blogs being rated as the 5th most trustworthy source of online information, you could reach a substantial audience and establish yourself as an authority in your niche.
By monetizing your blog through advertising, affiliate marketing, sponsored posts, or even selling your own digital products, you could create multiple streams of income. Additionally, the flexibility of blogging lets you work at any time and from anywhere, making it an excellent side hustle that could eventually turn into a full-fledged business.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
2. Become an affiliate marketer ($55.3K/month)
As a Social Media Manager, you could leverage your existing skills and platforms to become an affiliate marketer, supplementing your income and potentially reaching six figures. By promoting other companies' products or services through unique tracking links, you could earn commissions for every sale made through your referrals, capitalizing on your ability to drive traffic and engagement. This is a low-cost business idea that requires minimal upfront investment, making it ideal for those looking to start a venture on a budget.
Imagine using your social media expertise to strategically share and recommend products to your audience, increasing your earning potential without the need to create or own the products yourself. By signing up for affiliate programs in your chosen niche, you could transform your social media channels into profitable streams of revenue. This approach not only enhances your income but also diversifies your career as an entrepreneurial-minded professional.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
3. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could significantly boost your income as a Social Media Manager by leveraging your existing content creation skills in a new, lucrative direction. Freelance writing offers the flexibility to set your own work schedule and work from home, making it an ideal side business or primary career transition for entrepreneurial-minded individuals. As a freelance writer, you could write for various clients across different niches, diversifying your income streams and increasing your earning potential.
To succeed and make six figures, you would need strong writing skills, the ability to meet deadlines, and a proactive approach to staying on the cutting edge of current writing tools and trends. Your experience as a Social Media Manager already equips you with proper communication skills and a knack for engaging content, positioning you well for high-paying freelance opportunities. By diversifying your career this way, you could establish a steady, substantial income while enjoying the flexibility and independence that comes with freelancing.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
4. Become a social media influencer ($57.4K/month)
As a Social Media Manager, you could significantly boost your income by transitioning into or supplementing your career as a social media influencer. By leveraging your expertise in social media strategies and content creation, you could establish yourself as a credible influencer in a chosen niche. With brands increasingly seeking influencers to connect with their target audience, having a large following and high engagement rates could attract lucrative brand partnerships and sponsorships.
Moreover, your deep understanding of social media algorithms and trends positions you to grow your audience effectively and efficiently. By delivering consistent, high-quality content that resonates with your followers, you could gain the trust required to influence purchasing decisions. This dual role could not only diversify your income streams but also potentially push you to the six-figure mark as both a manager and an influencer in 2024.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
5. Start a social media marketing agency ($116K/month)
Starting a social media marketing agency could be a highly effective way to make six figures as a Social Media Manager. This venture allows you to leverage your existing skill set and industry knowledge to offer specialized services to businesses needing effective social media strategies. By automating tasks with social media marketing tools, you could manage your time efficiently without compromising the quality of your work.
With a well-developed social media marketing strategy and an attractive agency portfolio, you could attract a broad range of clients. Whether you're looking to clear your utility bills, finance your college education, or save for a vacation, this side business could become a primary income source. The entrepreneurial path of running an agency not only supplements your income but also provides the flexibility to scale and grow towards substantial financial success.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
6. Start a podcast ($97.9K/month)
Starting a podcast could significantly supplement your income as a Social Media Manager by allowing you to share expert advice and insights on social media trends, strategies, and platforms. By choosing a niche you’re passionate about and that resonates with your audience, you could attract a dedicated following. As your listener base grows, you might draw the attention of sponsors and advertisers, providing a steady stream of additional income.
You could also leverage your podcast to establish yourself as an authority in your field, which may open doors for consulting gigs, speaking engagements, and premium content subscriptions. Promoting your podcast through your existing social media networks could amplify its reach and potentially lead to lucrative opportunities. This entrepreneurial venture could not only bolster your financial prospects but also enhance your personal brand and professional reputation manifold.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
7. Create an online course ($83.3K/month)
Creating an online course allows you to leverage your expertise as a Social Media Manager to identify educational gaps and develop engaging video lessons around trending topics. You could attract students who are eager to learn about social media strategies, content creation, or analytics, providing them with valuable insights through well-structured, self-paced modules or interactive cohort-based classes.
This side business offers the flexibility to work at your own pace and generate passive income as you build a substantial student base. For those who enjoy sharing information and teaching, starting an online course not only enhances your professional credibility but also serves as a lucrative way to monetize your skills with minimal startup costs. This paves a convenient path to achieving six figures while empowering lifelong learners in the digital marketing space.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
8. Start a career coaching business ($48.5K/month)
Starting a career coaching business could help you make six figures as a Social Media Manager by diversifying your income streams and leveraging your expertise in digital marketing. As a career coach, you design custom sessions to assist clients with resume building, interview prep, and workplace advancement goals, which allows you to monetize your skills while providing significant value to others.
With the capability for in-person or virtual meetings, you could build a flexible schedule that accommodates your existing responsibilities. Furthermore, if you have a knack for public speaking and human resources expertise, coaching can be a lucrative side business, enabling you to set your own hours and rates, ultimately maximizing your earning potential.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
9. Start a youtube channel ($146K/month)
Starting a YouTube channel could help you make six figures as a Social Media Manager by providing an additional platform for income through ad revenue, sponsorships, and affiliate marketing. With YouTube's established monetization system, reaching the required 1,000 subscribers and 4,000 watch hours could allow you to join the YouTube Partner Program, enabling steady income streams from your content.
Moreover, showcasing your expertise in social media management via tutorials, case studies, and industry insights could attract a broader audience and potential clients. This creates opportunities for consulting services, online courses, and even brand partnerships, thereby supplementing your primary income and propelling you towards a six-figure earnings range.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
10. Digital products ($261K/month)
Creating and selling digital products could be a lucrative way for you, as a Social Media Manager, to supplement your income or start a side business. Digital products, such as eBooks, online courses, or membership sites, are incredibly popular and relatively easy to create and share. This opens up various opportunities to monetize your expertise and skills.
By leveraging your knowledge of social media strategies, you could develop specialized digital products tailored to your audience's needs. For instance, you could create courses on "Advanced Social Media Marketing Tactics" or eBooks about "Growing Your Brand on Instagram." With minimal overhead and no inventory concerns, digital products provide a scalable and efficient business model, potentially helping you reach that six-figure income goal.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
11. Start an ecommerce store ($287K/month)
Starting an ecommerce store as a Social Media Manager could be a lucrative endeavor to boost your income and potentially hit the six-figure mark. Leveraging your expertise in social media, you could effectively market your products or services, driving traffic and conversions through targeted campaigns and engaging content. The low overhead costs and expansive reach of ecommerce present an attractive proposition, allowing you to operate an online business without the significant expenses associated with a physical storefront.
Given the booming ecommerce landscape, consumers are more inclined than ever to shop online, providing you with a vast audience to tap into. By setting up a well-crafted website with seamless payment processing and efficient inventory management, you could create a streamlined shopping experience that attracts and retains customers. Your social media skills could give you a competitive edge in promoting your store and fostering a loyal customer base.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
