10 Top Tips For Making Money On LinkedIn in 2023
LinkedIn is one of the most well-known social networking platforms in the world for professionals and business people. When managed correctly, it drastically increases the brand visibility of its users. Individuals and companies log in to find employees, clients, customers, business opportunities, and partners. However, this doesn't mean that you can just log in and start making money! Putting together an outstanding profile and connecting with the right networks is the first step in monetizing your profile.
To learn how to create an impressive LinkedIn profile, read our article: 10 Tips To Make Your LinkedIn Profile Stand Out in 2023.
This 2023, leverage your LinkedIn profile, network, skills, and expertise to make yourself more money. There are numerous ways you can earn from using LinkedIn but here are our top 10 picks.
How To Make Money On LinkedIn
1. Become a LinkedIn influencer
Notably, LinkedIn does not pay its influencers. As an influencer, you can only make money by creating sponsored content or selling ad space. This is a great opportunity to make money but you have to be patient. It takes time and effort to build your authority within an industry, and amass a large following.
To become an influencer, you must build a robust LinkedIn personal brand. You need to:
Optimise your LinkedIn profile
Broaden your network
Decide on your niche
Map out your target audience
Post high-quality, original content
Promote your content
Create high engagement with your audience
2. Showcase value and land your dream role
In the world of work, there are two types of people: those who want to be in charge and those who want to be led. The former is the person who makes $250k a year, while the latter is the person who makes $60k a year. If you want to make more money this year, aim to be in charge of your career. Use LinkedIn to showcase your value to potential employers. The platform gives you visibility, and credibility and can help you rub shoulders with executives at companies you want to work at.
If you've never used LinkedIn before, then now is the perfect time to start using it as part of your job search strategy. Set up an outstanding profile and start building connections with recruiters and other people in your industry who are hiring. You can also research the companies you want to work at by talking to LinkedIn connections who’ve worked there previously or are currently employed in those companies. In this way, you can avoid applying to companies that have a bad work culture and a pay scale you don’t like.
Read this article: Find Your Dream Job Using LinkedIn! to land your dream job faster and start making money.
3. Teach on LinkedIn Learning
As an expert, this is an opportunity for you to create courses in subjects you’re passionate about and teach people on LinkedIn Learning. LinkedIn instructors work on contract to create and publish courses. In this process, half of your royalty advance goes toward publishing, then after “paying off” your advance, you begin receiving monthly royalties. LinkedIn will vet your skills first before allowing you to create courses for them.
To become a LinkedIn instructor, apply here.
4. Do Affiliate Marketing
Affiliate marketers earn a commission when people visit a website or sign up on a form or buy a product through their unique referral link. You can include these unique referral links in your LinkedIn posts, and make good money by helping brands reach their marketing goals. The more credible you are, the more likely your followers will act on your recommendations and use your link. It’s always important to promote brands that align with your professional values and the interests of your followers.
5. Sell your physical or digital products
LinkedIn is a huge marketplace of ideas, you can sell products packed with insights and valuable information from your years of experience. These include physical products like books and in-person training and events. You can also sell digital products like e-books, virtual training boot camps, online services, and video tutorials.
6. Monetize LinkedIn groups
Apply to become a member of a group whose members seem interested in what you have to offer. Advertise your services or product on such platforms, then direct those interested to your blog. If it’s an active group, you're likely to generate a lot of leads or conversions. Make sure to stick to community guidelines, when advertising your stuff. If a group doesn’t allow for advertising, find those that do. You could also create a group centred around one of your products or services such as a book or training boot camp.
7. Start blogging on LinkedIn
LinkedIn does not pay you for blogging on its platform. The only way to make money from blogging on LinkedIn is through creating sponsored content. Once you build a robust readership of your blogs, brands can pay you to promote their products/services therein. You can build a strong readership for your blog by:
Publishing content regularly and consistently
Producing well-researched and authoritative pieces
Publishing exclusive useful information
8. Using LinkedIn recruitment tools
If you're a recruiter or HR consultant, leveraging LinkedIn recruitment tools can help you find the right talent faster and more easily, saving you time. This means that you can take on more business, and earn more money.
LinkedIn has made the hiring process much easier. Its job posting feature can be used to post jobs on the platform, and when you do, you'll be able to post multiple positions at once. You can also create a custom ad that will appear in people's search results, which is great if you've got a specific skill set that you want people to know about. Moreover, if consulting for a large corporation that’s always in search of talent, you can advise them to pay for the premium LinkedIn Recruiter. It avails the following additional benefits for finding prospective candidates even faster:
Unlimited access to the names and full profiles of potential candidates
Advanced candidate search features including industry, company size, and years of experience
50 InMail credits per month for contacting candidates directly
Up to 50 search alerts per day when a prospective fit is found
9. Manage LinkedIn profiles and pages
You can get paid to manage LinkedIn profiles and pages for people. LinkedIn is just like any other social media platform where branding and engaging content are key to being able to stand out among millions of users. There are personal and business brands that know the power of LinkedIn in increasing visibility, influence, and sales but lack the time to manage their brands and put out insightful and engaging content. These are your target clientele. Your value proposition as a LinkedIn profile manager should show:
A clear understanding of the brand in question
The gaps you’ve seen in how the brand is portrayed on LinkedIn
How you intend to cover those gaps
Proof of your previous achievements
The next steps
10. Become a LinkedIn trainer
Once you position yourself as a LinkedIn guru, you can attract people looking to be trained in LinkedIn skills. Experts who have a good grasp of using LinkedIn with impressive growth results for personal and business brands are in demand right now. There’s a growing market of people who want to learn LinkedIn hands-on to increase their influence and grow their businesses. You can land such opportunities by advertising your skills but the easiest bait is to create a big personal brand on LinkedIn, with an impressive following. Truth is, the best trainers are those who’ve practised and continue to use the skills they teach, with undeniable results.
Conclusion
LinkedIn is a viable marketplace for professionals and business people which you can leverage to make more money in 2023. You can do this by becoming a LinkedIn influencer; landing your dream job; teaching on LinkedIn Learning; doing affiliate marketing; selling your physical or digital products; monetizing LinkedIn groups; blogging on LinkedIn; using LinkedIn recruitment tools; managing LinkedIn profiles and pages for brands; and becoming a LinkedIn trainer.
Get In Touch
At KHExperts, more than giving you a tailor-made, outstanding LinkedIn profile, we also offer a bespoke career coaching service that can give you the kick you need to start monetizing your skills on LinkedIn and make more money this year. Call us on +44 (0)7552 083 799 or Email: contact@khexperts.com.