Instagram was merely a photo sharing application, while today it has become one of the top social media platforms in less than a few years. Having almost two billion users worldwide, this app also became a business platform. Place where you can advertise and make money.
This is one of the reasons why interest in Instagram has grown tremendously over the past seven years and it probably won’t be slowing down anytime soon. Instagram has evolved into something between a magazine and a shop.
It became a place where you can make money.
But how do you make money on Instagram?
There are three major strategies to make money on Instagram. Let’s start from the one everyone would like to know about the most:
1. Work as an influencer
You probably heard ‘Instagram influencer’ many many times, but what does it mean? Instagram influencers are regular Instagram users but with a unique ability to influence others, well-established credibility, and a considerably large audience.
That being said, sponsored posts are what makes this work. With thousands and thousands of followers Instagram influencers can use their profile to promote all kinds of products and brands.
They have this power because they’ve spent a lot of time building trust and relationships with their audience.
Brands tend to partner with different influencers to do sponsored posts that will help them spread the word about who they are. In order to get to this point, you will need to grow your Instagram following.
Top influencers make thousands of dollars per sponsored posts, but this takes a long time and a lot of hard work to get to this point.
The most important thing to know as influencer is your audience. You need to understand who those people are, what are their interests, needs and wants. This way you will know which brands would be the best fit for them.
Reach out to them directly (through Instagram or through their websites) to try to negotiate a deal. You can also list yourself on an influencer marketplace to increase your chances of being found by a big brand.
Be extra careful not to lose the trust of your existing audience in the process of making money from sponsored posts. It’s always a good idea to use an Instagram hashtag that tells people it’s a sponsored post (something simple like #sponsored or #ad).
2. Be an affiliate marketer
This strategy is more about making sales rather than spreading awareness. The way you make money as an affiliate marketer is only when your followers buy products.
There are tons of people who make money in this way, but what is the difference between an affiliate marketer and influencer? Well, an affiliate is working towards making sales for the partnering brand in exchange for coming, while the influencer is mainly aiming to create awareness.
Affiliates make money through a trackable link or promo code to make sure that you know exactly which sales came directly from your posts. Creating engaging posts is a great way to promote the products without being pushy, since we are allowed to add only one link on our Instagram profile in bio.
At first it may sound like a tough game, but affiliate marketing has a lot of potential if you plan on growing. You can expand your presence by including a website and/or other marketing or social media channels.
3. Become an entrepreneur
This strategy is all about selling your own products. This goes beyond marketing and into the realm of actual e-commerce. Instead of selling other people’s products, sell your own.
This could be your time and advice as a consultant; or your high-end fashion line. And if you already own a business, selling on Instagram is an obvious addition to your marketing strategy.
Turning your audience into your customers may well be a natural fit. And with the rise of e-commerce platforms like Shopify, and print-on-demand services like Printful, it’s increasingly simple to run an online business that delivers real-world products.
Tips for earning money on Instagram
Now when you get to know the major ways of making money on Instagram you can stop asking yourself the question – Can you make money on Instagram. Instead pick one of these strategies and test it out.
Some tips that you should pay attention to are for example – know your worth. Before negotiating with any brand get the solid information.
When it comes to competition, you need to keep tabs on your competitors. What is it that they are up to? Have they changed anything in their daily routines? Is there anything that you missed? These things can help you improve your own way of doing business.
When it comes to customers you should always try to respond to them, and be professional. People love that. They love having feedback or answers to their questions. Ignoring them will only leave a bad taste.
That’s it! Combining what you’ve learned so far with your own strength will help you get started. It may take some time before you start earning but in this case patience is the key.
How many followers do you need to make money on Instagram?
This number can be anywhere from 1000 to 1 million. What matters the most is high engagement rates. If your followers aren’t interacting with your post or seeing it, number of followers won’t matter.
Can you sell directly on Instagram?
Yes you can sell directly through posts with a shoppable Instagram page. You can also let users sell your products or services for your.
Should I post on Instagram everyday?
It’s highly recommended to post at least once per day. But it is not advised to post more than 3 times per day.