How to Make Money on Instagram
Instagram is one of the largest networks of social media platforms in the world that enables people to connect beyond the limits of geographical boundaries and has gained over one billion active users over the years.
It is no longer a place just for sharing photos and videos but has evolved and diversified itself into a dynamic and lucrative platform for minting money. It has gained the status of a powerful marketing tool for all kinds of businesses to reach out to their target audiences for leveraging its benefits.
Just like the big giants Google and Facebook, Instagram, also has profound potential to connect better with the target audience and facilitates monetization of the platform.
According to a recent study by Instagram Business, 60% of people use this interactive platform to discover new products while 80% of them follow at least one brand. On top of that about 200 million accounts check out a business profile each passing day, and 66% of profile visits are from non-followers.
If you are also among the ones who want to learn and gain insights on how to make money on Instagram, you are at the right place.
How to Make Money on Instagram
Everyone has an innate desire to make money and to do so they keep exploring new ways, possibilities, and dimensions to become successful in it.
Of late, Instagram has gained immense popularity among the people as an interactive platform for making a huge sum of easy money.
Depending on your unique brand of Instagram content, your number of followers, and your level of engagement and commitment, you can make money on Instagram through the following ways:
- Ways of earning money through Instagram
- Become an influencer marketer
- Become a Brand ambassador
- Become an affiliate marketer
- Make Instagram Stories Masks and Filters
- Provide Social Media Marketing Services
- Write Captions for Businesses
- Create visual content for sale
- Sell physical products
- Sell digital products
- Find Freelance Clients
Become an Influencer Marketer
An influencer is basically an individual who has built a substantial reputation for himself over Instagram through his uniqueness to gain the credibility of a large group of people. Influencers can be trendsetters, tastemakers, or anyone who has the potential to influence the masses and has developed an image of a trusted expert whose views and opinions are well reciprocated and respected.
In terms of business, an influencer is an individual with an immense power to influence the decision-making process of potential buyers resulting in sales of products or services.
The most significant factor about influencer marketing is its capability to engage the audience and build trust with your content sponsored by the companies.
There are many brands that partner with influencers with a huge following for promoting their products and services they have already tried and tested. And the influencer just has to give his positive opinion regarding those through his sponsored posts to compel the audience into the buying process.
Influencer marketing is on its rise these days with 92% of individuals believing in word-of-mouth recommendations, 76% of people showing interest to trust content shared by influencers, and 82% of customers trusting on their friends and acquaintances before making a purchasing decision.
It can be a really difficult task to strike a balance between your integrity as a creator and as an influencer marketer to earn money from the sponsored posts. You can do so by being selective about the brands you work with just like the brands being selective about the Instagram influencers they partner with.
Become a Brand Ambassador
A brand ambassador is an individual who associates himself with a company or a brand to promote its products and services to their network with the objective of increasing brand awareness and sales.
You must be wondering about the profound similarity between brand ambassador and Influencer….right?
The main difference between the two lies in the fact that brand ambassadors are the individuals who regularly speak and promote the products and services they are associated with through social media posts, events, and networking.
While, on the other hand, an influencer promotes products and services that he has already tried and tested that too on an occasional basis to influence the thought pattern of the customer through only word-of-mouth publicity.
Studies conducted have shown that a brand ambassador has the capacity to earn up to the range of $40-50,000 per year.
Become an Affiliate Marketer
Instagram followers can easily make money by becoming an affiliate marketer which is nothing but commission marketing and involves getting paid for the sales of each product or service you are promoting through your platform.
The affiliate marketer tries to grab the attention of the audiences through the use of traceable affiliate links and promo codes shared in his posts, stories, and by inviting their audience to click on the link in their bio.
The first and foremost thing to do that is by identifying a brand with an affiliate program that you’re interested in and get registered for their affiliate program to get your unique, trackable link or promo code for promoting the products on your Instagram profile. Next, you can include the promo codes and links for the target audience to follow. You are bound to earn a commission from the sales of each product.
The most important thing to remember is to disclose affiliate links to your audiences as you get paid for the commissions coming from each sale.
Commissions can vary from 10-20%, depending on the fact whether the partnership is based on a pay-per-click or cost-per-acquisition model.
Make Instagram Stories Masks and Filters
Almost 500 million Instagram users watch or create their own Instagram Stories daily according to a survey.
The big question here is what makes these videos so interesting and engaging that compels such a large number of people wanting to watch or create them on daily basis?
Well, the answer to this question is rather simple and lies in the fact that these stories are available only for a limited period of time.
So, whenever some celebrities or influencers post Instagram stories, it triggers the audiences with a sense of urgency and propels them to rush into watching them or else they might miss out on the video and regret later to develop a feeling of ‘left out because once missed it will be gone forever.
This has resulted in the opening up of extended opportunities for users to create Instagram stories masks and filters.
The smaller brands are more likely to collaborate with creative people who are capable of creating interesting and exciting Instagram masks and filters.
Provide Social Media Marketing Services
Instagram and other social media platforms like Facebook and Twitter have proved to be wonderful platforms to offer a plethora of opportunities to all kinds of businesses. But it is invariably the start-ups and the small businesses with limited money and resources, who get the maximum benefits to connect better with their target customers and to gain exponential business growth.
Even after knowing the impact of social media platforms on the mass population, only a few companies are willingly utilizing them for their marketing strategy to drive brand awareness and sales.
If you are among the ones who have an overall good knowledge about the proper functioning of social media marketing, then you can gain the opportunity of providing your expertise as a service to small businesses and start-ups to improve their growth and value for which you can expect to earn anything between $16 per hour to $75 per hour, depending on your expertise and experience.
It includes a thorough understanding of important tactics like the frequency and right use of hashtags and typically involves content creation, account setup, account administration or management, and account promotion.
Write Captions for Businesses
You can also make money from Instagram by writing captions for businesses.
All businesses usually engage the target audience by posting smart, witty, and memorable captions for their uploaded photos.
Most of the big brands have their in-house team of professionals to do this job. On the contrary, start-ups and small businesses having financial constraints have to rely heavily on affordable alternatives like freelancers and contractors to carry out the work of caption writing.
In case you are creative and equipped with pro writing skills, you can try your luck at creative and memorable captions writing for the business posts to earn quite a good sum of money.
To gain the attention of the business owners or clients, you need to know how to optimize your posts and profile using the right hashtags.
Create Visual Content for Sale
Instagram users upload around more than 100 million photos & videos on daily basis. There are a lot of brands that regularly upload images of their products on the platform but do not have visual appeal.
In order to grab the attention of the consumers, the companies need to provide the audience with UGC (user-generated content) as most consumers believe that UGC is 35% more memorable than other media. Pertaining to this fact all kinds of businesses are always in need of content created by their customers.
It serves as a great opportunity for individuals trying to sell their photos and videos in return for a handsome amount of money.
Sell Physical Products
Entrepreneurs and creators willing to promote and grow their brands for selling their physical products can easily do so through the use of Instagram’s business account.
The best way to do that is by selling products with a print-on-demand service which simply means that the products will be shipped only after the order has been placed.
Square Online is one such tool that facilities the selling of products via Instagram by automatically transforming posts from your Instagram feed into an e-commerce store.
The setup is pretty simple and involves 3 simple steps:
- Connect Square Online to your Instagram account
- Tag items in your Instagram posts you are willing to sell
- Click “Publish” and launch your own shoppable page
Sell Digital Products
You can also sell digital products such as e-books, audiobooks, membership sites, software, and many such digital products through Instagram’s business account which comes along with helpful features like product tags, in-app check-out, and shop button for ease and convenience of the customers.
Big brands often have their online stores on platforms like Shopify and further, make use of the Instagram platform to promote their products for higher reachability.
Please ensure these following steps for effective promotion of your products on Instagram.
- Use relevant hashtags in your posts using hashtag research
- Partnership with influencers for spreading word-of-mouth publicity about your products.
- Run Instagram ads
Find Freelance Clients
Instagram is one of the most rapidly growing image-based social networking platforms that have gained tremendous popularity amongst the huge population in recent times. It allows users to upload photos and videos that can be edited and organized by hashtags and geographical tagging and also let one follow other users feed. Users have the option to link their accounts to other social networking sites enabling them with higher reach.
People use Instagram for many things like entertainment, inspiration, community building, and business networking. But of late, it has gained the status of a powerful marketing tool offering various opportunities for a diverse group of people.
Instagram has also proven to be a wonderful platform for making money through a platter full of various opportunities for everyone ready to try their luck.
Individuals interested in gaining more inputs and insights in digital marketing and related topics can enroll themselves in digital marketing institute in Jaipur.