Most profitable social media platforms on 2023

Since the beginning of Facebook, social media platforms have been growing exponentially over the last decade, nowadays, these platforms are big, billionaire companies with influence and power around the world, people communicate, share files, create topics, and sell things in these platforms, becoming a great income source for a lot of people, so this post is to show you the most profitable social media platforms you have to choose in order to grow your business and earn money.

As you create an account on some of these platforms, you can choose between a personal account or a business account, choosing the least, is always recommended, you can create then a personal profile, or a business profile to create your own brand.

Which is the most profitable social media platform?

Social media is a very profitable business, since there are more than 4.5 billion users right now, creating content, and searching for information, social media are a great way to create your brand and start growing an audience, so, the next list is to show you the most profitable and crowded social media platform.

As you can see, Facebook is at the top of the most profitable social media platforms with more than 3 Billion active users every month, these platforms can help your business grow with the right strategy, sometimes, you may need an initial investment, my advise, is to learn to use the platforms and see how far you can get before you start spending money, then you can start using Facebook ads or another kind of paid strategy.

The platform revenue below is there to show you how much the company earns annually, keep in mind that, in order to start earning money, you have to grow an audience, create a profile, start getting followers or subscriptions, and engage them with great content they like or find useful and start sharing, that’s how you will get organic views, then promote your best posts to reach more people, is a great practice to create a website too, this way you can send some of your social media traffic to your website and this will add another income streams.

Most profitable social media platforms to promote your business

The nature of your business, your niche, and your audience are the three most important things, as many of these platforms have different kinds of audiences, so you have to analyze your buyer persona profile, that means, your ideal client, then you have to create content to engage this ideal client, to buy your product or pay for your services, to pick up the best platforms to use, I reviewed all the above listed to know more about them.

1. Facebook

Facebook is the most crowded and most profitable social media platform today, there are billions of people using it, there are some actual facts to keep in mind while using Facebook, first, every piece of content you publish here is going to reach your followers only, they have to share your content so you can reach more people if your content is not shared, it will be forgotten, the second fact is, more than 23% of users have an average age between 25 – 34 years old in the US, this is the highest age group, follower by 17 – 24 years old.

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One of the greatest Facebook features are ad campaigns, your business can grow greatly if you learn how to use it and create a good strategy to help you get the attention of your audience, so, Facebook is definitely one of the most recommended platforms to start growing your brand and business.

Pros:

• A great user database with a wide age range.
• Facebook ads are both, great and not so expensive.
• Create a group or page and start generating content for your business.

Cons

• Content can be forgotten easily if not shared.
• Barely used by people under 20 years old.
• Can be time-consuming.

2. Youtube

The best social media platform to watch videos, there are a lot of people creating content every day, creating an account to upload videos is free, and subscriptions are free too, so I always recommend using Youtube to start creating at least one weekly video, create great helpful videos and you will watch your channel grow, branding on youtube is great and you can link your channel directly to another social media platforms or your website and this can be considered a do-follow link.

This is not just one of the most profitable social media platforms, but a search engine too, so you have to learn the basics of youtube SEO in order to create videos that can actually rank, of course, you can make a really good video, with original content, but you have to plan your video title, create a great thumbnail to engage the users, then use every tag possible to earn more viewers, then, just keep uploading and you will be monetizing soon.

Pros:

• Great database with a wide user age range.
• Your videos will be visible after months or years of uploading.
• Link every video and your channel to other social media or websites.

Cons:

• Great quality videos may take a longer edition process.
• You need uploading consistency.
• Monetization takes time if you are a beginner.

3. Instagram

There are a lot of people actually migrating their Facebook profiles to Instagram, most popular among younger people, the average age group using this platform is between 12 – 25 years old, there are a lot of reasons Instagram is one of the bests platforms to start using to grow your brand, as most people in the US use it more than 30 min/day, its a big opportunity to engage your users with every post, of course, try to upload nice HD images or videos to increase your user’s database.

Compared to Facebook, Instagram has a better mobile phone optimization, this is the reason why more influencers start using the platform, as it has become the best to increase sales and conversions to affiliate links, influencers can upload videos with their links and start making sales faster as soon as their followers start watching their photos

Pros

• A great mobile-optimized platform.
• Best for eCommerce and branding.
• The most used platform in the US.

Cons

• Some features are not free as it was before.
• External links are barely supported.
• Does not support pages or groups.

4. Tik Tok

The best short video platform out there, as a content creator, you can share your videos and link it to your website or youtube, displaying your website’s link in your profile is a great addition, as it counts as a backlink to build rank, as a creator, you can apply to Tik Tok creators fund, this program is for US and European creators, and once you are in you get paid for the views on your videos.

The Tik Tok creators fund was made to incentivize creators to create high-quality content, to apply you have to meet some criteria, first, you need 10,000 followers, and have at least 1000 views and 3 posts for the last 30 days, 18 years old or more and not have any community guideline violation.

Use Tik Tok to grow your brand or create a business if your audience is between 13 and 28 years old, as these are the most predominant ages on the platform, you can use this perfectly to link to gaming, beauty, fitness, music, photo or cooking website to earn more follower and pageviews.

Pros

• The most used short video platform.
• Add your website to every video to get more page views.
• Monetize your content once you reach the requirements.

Cons

• Content format is limited to short videos.
• Video editing can take a lot of time.
• Ad campaigns are expensive.

5. LinkedIn

The most productive social media platform, this was initially created as job finding website, but the right decisions were made here, within your profile you can create or paste your blog articles, and you can link them directly to your website, so you receive a backlink, even if this is a no follow link, is a great way to get page views, so this can be a great way to get traction from the right audience if your niches are about finance, tech, writing, books and traveling.

It is said that LinkedIn Audience has the highest monthly income among all social media, and that’s because, there are a lot of US companies who are always searching for talented people to join them, but creating a profile to look for a job is not the only thing you can do here, you can start posting information, writing articles about your niche, you do this to add links to your website or another social media platform, so your audience keeps growing.

More than 60% of LinkedIn users age is between 30 – 64 years old, so, optimize your profile as you would do with your website, this will help you with SEO, the articles you write will rank if you do good keyword research, try to create different kinds of digital content, podcasts, webinars, videos, ebooks, so you can use all this content to get your audience hooked.

Pros

• Platform users with the highest income.
• Great for affiliate link niche sites.
• Create your profile and write posts to link to your website or other social media.

Cons

• Takes more time to grow an audience.
• Competition is higher.
• Does not have a monetization program.

6. Twitter

One of my favorite platforms, Twitter is great for blogs, youtube videos, and branding, but it can be a pain also, sometimes your posts will have a lot of likes, retweets and you can see growth in followers, and for an unknown reason, sometimes you can get hate comments in your posts, that happens a lot on Facebook too, but don’t worry, you will see growth if you keep posting and creating great content.

The average user’s age on Twitter is 25 – 34 years old, and you can easily target your audience by the correct use of hashtags, there are even some groups that will help you grow, they will retweet your post if you do a @- mention of their profiles, sometimes this helps a bit, so, go and search for this groups.

Pros

• Reach millions of people using hashtags correctly.
• Get sponsored tweets to reach even more people.
• Create and schedule your tweets to get your audience hooked right on time.

Cons

• Businesses tend to spam tweets and get hate comments.
• Twitter ads are expensive and sometimes doesn’t worth it.
• Posting tweets to create business awareness is time-consuming.

7. Whatsapp

A powerful app that has evolved through the years, now the property of meta, Whatsapp has become a great tool for local businesses and great companies, keeping your client’s email and phone number is always great to generate future sales, and using WhatsApp to grow your business is a great strategy, not only is an effective way to engage your client’s database, and customize your service, conversion rates are superior using WhatsApp or SMS.

Using WhatsApp in your business is a mobile marketing strategy, this is one of the most profitable social media platforms once you have build your users database, so, you need to create mobile optimized content to enhance user experience, you can send links to every product you have, or affiliate links, but also, you can send coupons, discounts, limited time offers, this strategy has 60% conversion rates and sometimes even higher.

Pros

• Great way to stay in touch with your clients.
• High conversion rate strategy.
• Captive customer database.

Cons

• You may be blocked by users if messages become spammy.
• Lead magnets may be required to obtain users’ phone numbers.
• It takes time to have a large user database.

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8. Pinterest

As many other social media platforms, Pinterest has a search engine incorporated, so, you have learned about how to post your pins right to attract people, but once you start using and getting an audience from Pinterest, you can drive a great amount of traffic to your website or your page business on another social media.

Pinterest has a very wide users age, being the average between 30 – 64 years old, at the beginning of the platform, more than 80% of the users were women, nowadays it is about 60%, so the niches getting more traction with Pinterest are cooking and kitchenware, house decoration, and interior design, handcrafts, toys, videogames, anime, fitness, beauty.

Posting a pin can be really easy, I recommend using canva, as you will be creating lots of pins everyday if done correctly, for some people this can be time-consuming though, if you are already generating lots of content every day, my advice is creating at least a daily pin, create a good comment with low competition keywords, then copy-paste the link to your website, sometimes good pins get traffic really fast, but normally it takes time for pins to send traffic to your website so, be patient.

Pros

• Link every pin to your business website.
• Grow an audience from a wide users age range.
• Get a faster audience if you are from the below niches.

Cons

• It takes time to get an audience from your pins.
• Creating pins can be time-consuming at first
• Pinterest has a weird automatic ban system, don’t spam.

9. Reddit

A powerful and one of the most profitable social media platforms, one of my favorites to get information about most topics, Reddit can be great to start growing your business, with a lot of users, but as with Twitter, Reddit users will kick you out if you get spammy and use the site just for self-promotion, so, instead of posting spammy messages, ask questions, give some value to a Reddit group, and use the link to your website if it provides with helpful information.

Once you start learning how to post and create good content for this platform, your post and links will be a great addition to the community and your site will receive a great amount of traffic from Reddit, now, you have the chance to monetize this views with advertising, or start selling your products, once your traffic keeps growing, you have too many ways to monetize.

Pros

• A great platform where you can share or give information and start growing your audience.
• Plenty of groups to choose from and start posting.
• A great audience that will help you grow even more.

Cons

• Don’t be spammy and don’t self-promote.
• It can take several posts and months to start growing an audience.
• Be careful as sometimes people here will try copying your business.

Conclusion

Creating an audience and growing a business is possible nowadays with the social media platform support, you can get into every platform or pick one or two to start creating brand awareness, the most profitable social media platforms you have to choose for your business are the ones where you can create brand awareness, grow your audience and your conversions, so you have to choose accordingly, that’s the first step, the next step is to optimize your content, to be helpful and get people to stay in touch with your business, and to generate sales.

Of course, it is recommended to invest some money on ad campaigns, but once you start earning some money off this, reinvest in writers, a great design for your page design or a great template for your website, this will help to enhance your user’s experience and will be a boost for your content, if you are on a very low budget, you can still start now, and be capable of generating hundreds or thousands dollars your first year.

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