Individuals want to learn how to Make Money on Instagram. Over the years, Instagram has evolved from beautiful photos into a classic magazine and a boutique parlor. It has become a tool for popular celebrities, marketers, politicians and some top-notch businesses.
However, with over a billion monthly users, of which 71% are under 35, Instagram ranks 7th on the list of the Top 15 Most Popular Social Networking Sites. Are you interested in making money with your Instagram account? In this article, I will give you 3 powerful major ways of making money on Instagram.
What is Instagram?
First, let define Instagram especially for those coming across this app for the first time on the platform. Instagram is a social media app that allows all users to share videos and pictures of their lives. On the platform, you can also add captions, edit filters, tweak the setting, engage with others.
Major Ways to Make Money on Instagram
Below are the major ways to make money on Instagram.
- Become an entrepreneur – and sell your personal product.
- Be an influencer – post sponsored content by brands.
- Be an affiliate marketer – selling other people’s products.
Let’s look at each one of these ways.
Become an Entrepreneur
Go beyond marketing and into the realm of real e-commerce. Instead of selling other people’s products, sell your own items. Whatever your business may about bring it on. Let your audience get used to your own personal products from there you can be a consultant of the business line. However, letting your audience into your customers may be a good idea. With the increase in e-commerce platforms like Shopify, Hootsuite, etc. It is even easier to run an online business that delivers real-world products. Observes these steps;
- Imagine your product.
- Build your product – if your business involved selling your own item you have to build it.
- Get your own business account, use all the features such as the explore tab, product tags, shoppable posts, shoppable stories, and Instagram checkout. Also, create a product catalog.
- Build your own e-commerce infrastructure. Get a business website to create more awareness and information for your clients. Run a few ads and build a landing page to guide people through the final purchasing stage.
- Post your products. Hype your product with a constant post or story using Instagram analytics tools.
That is how to become an Entrepreneur on the platform to make money.
Be an Influencer
As of early 2019, there was over 500,000 active influencer on Instagram. Here, you don’t have to go through the stress of e-commerce. Just post about your products, brand, and services. To start as an Influencer follow these steps:
- Choose a niche.
- Build trust and grow your audience.
- Partner with brands. Find the brands you admire and let them know what you offer. Help them find you by signing up with an Influencer marketing platform.
- Post transparently.
Become an Affiliate Marketer
On the Instagram platform, you only make money when your followers buy the product. As an affiliate marketer, you don’t need to bother about producing the product or fulfilling orders.
However, affiliate marketing is smart, and we’ll build an angle on marketing. You get to recommend your favorite item. For example, dog food, clothing, vacuum cleaners, etc and provide a link to buy the product or a promo code with a small discount. With the code, the merchant can track sales back to your efforts. You will earn a fee percentage for each sale. Now that Instagram features like product tags, Instagram Checkout, marketers are not limited to ‘link in bio’. As clients find it easier to buy on Instagram, affiliate marketers may well see their sales increase.
- Choose a Niche – this niche us different from the sponsored influencer niche. This more product focus.
- Search for merchants to affiliate with. You can affiliate with a brand directly or join an affiliate network. Affiliate networks are intermediary platforms between brands that run affiliate programs and marketers just like you. They exist to give you a huge range of products to choose from. No one is limited to just one network. Here are a few affiliate networks, Amazon, ClickBank, Rakuten, and CJ affiliate.
- Make a post about the product.
That is all about becoming an Affiliate marketer to earn money on the platform.
Tips to Make Money on Instagram
Below are some tips for earning money on Instagram.
- Keep tabs on your competitors. Use social media to monitor your competitors.
- Answer customers’ inquiries speedily.
- Be professional.
- Do not buy fake followers.
- Use Instagram Tools to help you fast on your account performance.
- Promote yourself on other channels.
- Know your worth.
In conclusion, making money on Instagram can be profiting if you can use the above mentioned major ways. Also with the tips for earning given above.