Instagram is the fastest growing and most popular social media platform. It’s the second-most downloaded free app in the Apple app store and 1 billion people use it every month. Instagram has 112.5 million users in the U.S. and it will reach 117.2 million U.S. users in 2021. Companies reach 849.3 million users through Instagram’s potential advertising and that 52.9 million users are a young audience aged 13 to 17. Popular brands pay Instagram influencers to market their products between $100 and $2,085 per post.
Instagram is first introduced for photo sharing but it now becomes a potential business platform. If you’re prepared to put in the time and commitment, you can easily start making money from your Instagram account.
The first thing, you must do is ATTRACT FOLLOWERS.
Most brands will expect a strong and loyal follower’s base to build a working partnership. There are a few simple ways to increase your followers. First completely, fill out your bio with the relevant and right information. Post regularly and consistently to keep your followers engaged. Take the best quality photos with attractive effects using DSLR Camera. Use relevant hashtags to reach more audiences. Engage with your followers or anyone involved in your industry by commenting on and liking images. If you communicate with authentic content, people will be drawn to check out your account and, hopefully, join your loyal rank of followers.
1. Become an influencer
Influencer marketing has grown steadily in popularity over the past few years, and for good reason – often customers trust influencers over celebrities when choosing which products to buy, or which brands to endorse.
An influencer is someone who has built a reputation by doing and sharing things online. They have a good following and they can convince their followers about trends because of the level of trust they have built with their online presence. With your influencer status, you can promote brands in your posts. Brands tend to partner with influencers to do sponsored posts that help spread the word about their products. Brands not only consider the size and reach of your Instagram account but also your audience’s trust and engagement with your content. Top influencers make thousands of dollars per sponsored post. By doing one sponsored post per day, you can make tens of thousands of dollars per month easily.
A typical influencer post includes the creation of content such as an Instagram post, video or Story that will include the promotion of the brand or their products. As an influencer, you must know your audience. You need to understand who your audience, so you know which brands would best fit them. If you’ve switched to an Instagram business account, you can research your numbers a bit more through your Instagram Analytics report. You can reach out to brands yourself directly to try to negotiate a deal, but you can also list yourself on an influencer marketplace to increase your chances of being found by a big brand.
Be careful not to lose the trust of your existing audience in the process of making money from sponsored posts. Always indicate with an Instagram hashtag that it’s a sponsored post (#sponsored).
2. Become an affiliate
You can sell other people’s products and get a commission. Many brands sell their products through affiliate programs. Many people make money from Instagram this way.
The difference between an influencer and an affiliate is that an affiliate is working towards making sales for the partnering brand in exchange for a commission. On the other hand, the influencer is mainly aiming to create awareness. Unlike sponsored content, this strategy is less about spreading awareness and more about making sales. This is because you only make money when your followers buy the product. On the plus side, as an affiliate marketer you don’t need to worry about producing that product or fulfilling orders.
Affiliates make money on Instagram through a trackable link or a promo code to make sure that any clicks are converted to sales. Create engaging posts, so you can promote the products without being pushy. Meanwhile, as Instagram rolls out product tags and Instagram Checkout, marketers are no longer limited to saying ‘link in bio.’ As customers find it easier to buy on Instagram, affiliate marketers may well see their sales increase.
Though it sounds like a numbers game, affiliate marketing is also an art, and you’ll have a better chance at success if you have a plan going into it. You can expand your online presence to by including a website and other marketing channels. Creating a blog or YouTube channel will expand your content marketing to provide the information that prospective buyers want as they make their buying decisions.
3. Sell Your Photos
If you think you take high-quality pictures, there’s a chance that you can get paid for it. If you’re a professional or amateur but keen photographer, Instagram is a great way to advertise and sell your photos. You can sell poster photos, paintings, drawings, animations, videos, and other image or video-based virtual products. On each post, refer readers to visit the link in your bio. This is another popular way that people make money from Instagram.
Add a watermark to your content and use the captions to list all selling details concisely. As always, make sure that you have an active presence so that the right type of accounts are following you. Use appropriate hashtags to divert traffic towards your photos and get a conversation going with influential photography agencies.
4. Open your own online store
The fourth strategy for making money on Instagram goes beyond marketing and into the realm of actual e-commerce.
Rather than using your personal Instagram page to sell other people’s products, sell your own. You can sell any physical product that you produce yourself or purchase from suppliers. This conventional ecommerce store usually requires some inventory, so you need startup capital to stock some products. It requires a place where you can keep the products, such a spare room at home or a rented storage place. For instance, if you purchase some inventory from a supplier, you’d need a space to keep them before they’re ordered by and delivered to customers.
You can sell products directly on Instagram through Instagram Posts and Stories. By simply tagging products in your Instagram images, you can lead your Instagram followers to your product pages where they can purchase products quickly.
5. Sell dropshipped products
Dropshipping is a business model which you can use to run your store without ever holding any inventory. Once you’ve made a sale your supplier will ship your products from their warehouse, straight to your customer’s doorstep. You’ll never need to worry about storing, packaging, or shipping your products.
The biggest difference between dropshipping and the standard retail model is that the selling merchant doesn’t stock or own inventory. Instead, the seller purchases inventory as needed from a third party—usually a wholesaler or manufacturer—to fulfill orders. This works similarly to the previous point of selling products on Instagram to earn money. Just that you won’t need to store any inventory.
So now you know the five creative ways to make money through Instagram, you’re all set to start building your new business venture. Whatever option you decide to take, be sure to always keep your personal brand in mind and treat what you do as a business. The more you understand what it is you can offer, the stronger your message will be to potential collaborators!