Monetizing social media: How established accounts are changing the business landscape
It’s no secret that social media is a big part of running a business. Building up and establishing a good social media account for your brand is a great boon that can make or break even a large business. However, recent years have seen a new development in this scene – using so-called “established” social media accounts. Let’s look into exactly what those are, how they can be used for monetizing social media, and how established accounts are changing the business landscape.
What is an “established social media account?”
An established social media account is any account that you start using after it has already been established. In other words – it is a “pre-established social media account” that you are repurposing for your needs. Who, how, when, and for what had initially established the account for can vary.
It could be an account you yourself had established and used before, for a different purpose. Or, it could be an account someone else had created and build a following for that you have just bought from them.
The purpose of using such an established social media account is quite simple – it being established means that it already has a major following that you can monetize by advertising your brand, services, and products too.
This does run the risk of losing parts of the pre-established following if the product/brand your advertising to them is drastically different to the original niche/nature of the social media account, of course. If the account’s original niche/purpose wasn’t too different from what you’ll be using it for, however, than a huge percentage of the accounts following will likely stick around and continue to follow you and your brand.
In essence, buy buying an established social media account you can skip on months or even years of effort and monetary investments into building the account from the ground up.
Is it legal to buy a social media account?
Different countries have (and may have in the future) different laws about this, but in the US, in particular, it is perfectly legal for people to buy, sell, and trade social media accounts. This is a practice some social media platforms “frown upon” and try to dissuade users from doing it, but there is nothing strictly illegal about it. So, if you want to buy or sell a social media account, all you usually need to do is go on a website that trades social media accounts, such as Cloutpot, and choose the account that best suits your needs.
How to monetize the purchase/sale of a social media account?
Both buying and selling a social media account can be lucrative, depending on what you want to do.
By selling your account
If you have built a large following you don’t know what to do with or if you just want to take a prolonged break from social media, selling your account is an easy way to make a nice sum of money. Large an well-established social media accounts on sites like Cloutpot can sell for hundreds or thousands of dollars, sometimes even more.
In fact, some people have made it a business to build up accounts on sites, such as TikTok or X (Twitter) by regularly posting memes, and then just sell these accounts for profit.
By buying an account
The more lucrative long-term way to utilize sites, such as Cloutpot is to purchase an established social media account for a moderate sum of money and start using it to establish your brand presence. What may be a lot of money for the person selling the account is usually a small and reasonable investment for a business. Even a small business can afford such an investment relatively easily.
From there, that investment will very quickly pay off if you use your established social media account correctly – to retain the existing following on the account, build upon it, establish your brand’s presence on the social media platform, and reap all the long-term benefits that stem from that.
Buying and selling established social media accounts has certainly changed the business landscape in recent years, especially on some platforms. It’s a unique way of monetizing social media and it’s certainly something to consider or keep an eye on in the near future.
