Is it Possible to make money on Instagram? If yes, How?
This is the most trending question on the Internet. Today’s youth is going crazy about making money on every top social media platforms including Instagram.
With more than a billion monthly users, 70% of people are spending an average of 30 minutes per day, just scrolling the images on Instagram or spending money instead of making money.
Complete Guide to Make Money on Instagram
There are three significant ways to make money on Instagram:
- Publish sponsored content
- Become an affiliate marketer and sell others product
- Become an entrepreneur and sell your products
Read on for best advice on all three tracks to make money on Instagram.
Let’s get into some perfect ways. Learn how to make money on Instagram?
Strategy 1: Publish Sponsored Content
The term ‘Instagram influencer’ has a strong connection with sponsored posts.
In 2019, it was recorded that there are 500,000+ active influencers on Instagram.
The key highlight of Instagram promotions using Influencer marketing is that it makes marketing efforts handier. You don’t need to make any product. It’s just to post the product/service on your Instagram account to promote the brand, which is not a big deal to do!
So, How to begin your journey as an Instagram Influencer? The below steps will help:
1. Select a Niche
If you want to make money on Instagram, then you have to put your life and breadth on your official brand. Make sure that you put all efforts to influence people, and they can connect with you.
Brands will compare your audience with the targeted market. According to a recent study, 55% of the brands prefer micro-influencers so that they get more engagement with the authentic connections on every post.
2. Work on Establishing Trust and Expand Audience
Building trust with your connections is the most important thing to do. According to the study, 81% of the Instagram influencers have around 10,000 to 15,000 followers.
If you are not in that number, then don’t panic. There are no shortcuts to increase followers, but there are some social media strategies that help you to increase the number of followers.
- Consistent posting
- Post the content what your audience like
- Promote your dedicated hashtags everywhere
- Participate in popular conversation
- Put a descriptive caption
- Develop your style
- Put Call to actions to
3. Grow your Network by Partnering with the Brand
Connecting with a brand is the primary step to start influencing people. There are two ways to make links with brand partners:
Find them by pitching them directly
Connect with the brands you like, and shoot your brand pitch. Do not forget to include details about total followers, the audience group that you have targeted, and the approach you follow. Win them with your efforts and prove to them that you truly are a genuine influencer.
Also, mention any existing brand tie-ups you have or any previous successful campaign. Just ensure that you don’t mention any example about that brand’s competitors.
Sign Up With Influencer Marketing Platforms
There are multiple marketing platforms such as AspireIQ, Upfluence, and Famebit that you can use to link with the brand partner you prefer. This makes your journey easy and results in quick partnerships. But yes, you need to be honest about your approaches as being an influencer starts from trust.
Brands are affected by genuine and active influencers. They are seeking trustworthy and effective people to promote their brand and win people’s hearts.
4. Maintain Post Transparency
You can share posts that are obvious and easy to understand. Use ad hashtags in your posts. You can use paid partnership tags that will help you gain reach on posts and at the same time you don’t lead any of your followers.
Strategy 2: Become an Affiliate Marketer
Affiliate marketing is the strategy of creating awareness and increase the reach of a brand. In this, you can only get money when your followers buy your product/service you are promoting.
On the better side, as an affiliate marketer, you don’t need to keep track of fulfilling orders, customer care issues, and product manufacturing.
In the process of affiliate marketing, you need to require a solid strategy. It is not easy to choose this strategy. You have to take care of the audience’s perspective without annoying them. Brands are growing with this strategy.
Affiliate marketing is a well established and growing angle of marketing. You can follow this method by recommending your favorite cosmetics, clothing, or accessories to the customer by providing a link to buy that product or else a promo code with a small discount.
Merchant can track the sales with your unique promo code or link and chase your efforts. By doing this, you can earn a percentage of every sale.
Instagram rolls out product tags and Instagram checkout. Marketers need to add ‘link in bio’ that makes the secure shopping to the customer on Instagram. The affiliate marketer can easily track the increase in their sales.
1. Choose a Niche
An affiliate marketer’s niche is different from sponsored influencer’s niche as they are more product-focused. Affiliate marketers sometimes start as a product reviewer.
2. Find Merchants to Affiliate With
In this case, you can affiliate with any brand, or you can join the affiliate market or both.
The affiliate network is the link between the brands that run affiliate programs and marketers. Affiliate marketing gives you a vast range of options to choose from products. And you are not restricted to one network.
They exist because, when a young entrepreneur selling his course might be eager to expand their reach to your audience. Multiple brands automate their efforts.
Amazon associate is the best place to start. The limitation is that you don’t offer promo codes. You can only use the affiliate link provided by them. Using Pinterest, newsletter, blogs, you can put the link in your bio or on your Instagram story.
3. Post About the Product
Affiliate marketing falls under ASA and FTC rules, so you need to know about the nature of your product. Around 50% of the people say they appreciate the transparency with the products.
4. Sell your Products
This is the third and most unique strategy to make money on Instagram. Rather than selling other products, you can sell your own. For this, you have to decide everything, such as product cost, promotion codes, etc. You have to follow some strategies of social media marketing on Instagram for selling your products.
It would be great to turn your audience into your customers. Many e-commerce platforms did well with their customer satisfaction and increasingly growing with their online businesses.
How to Turn Audience into Customers?
Step 1: Imagine Your Product
If you want to bring a new product to the market, then you have to find your subject of interest. Only with this strategy, you can create a natural and unique product.
Step 2: Build Your Product
Build your product by adding authenticity and natural phenomena into it. People will chase you with the new creative products you have made. If you have a business plan to sell your product, then you need to find a supplier for the supply of products.
Step 3: Set up your Account to Make it Shoppable
Instagram is continuously changing its shopping focused features such as shoppable posts, product tags, explore tabs, shoppable stories, and Instagram checkout.
If you want to use these features, you have to create a business account with a product catalog.
Step 4: Build Out Your E-commerce Infrastructure
Selling your product involves various things, and building a website is one of them. It will make the customer up to date with the latest products and their features.
You can also run small ads on your website. You have to design a landing page to guide people with easy purchasing steps. Design your website for the ease of your customers.
Step 5: Post Your Products
You can boost your products with Instagram posts or stories. Instagram analytics is one of the tools that will help you measure your success and audience reach on your posts.
Instagram tools will help with your appearance on the platform. You can use multiple features that can make your job quick and easy.
Step 6: Fulfill Your Orders
Fulfilling your order is the primary job of yours if you are selling your products. So be careful with your promise and fulfill every order you have taken.
Additional Tips for Earning Money on Instagram
Let’s see the quick tips for making money on Instagram:
1. Know Your Worth
You have to get updated with the new trends and market rates. When it’s time to negotiate with the brand, you need to have reliable information about everything in the market.
2. Keep Tabs on Your Competitors
You have to keep your eyes on your competitive brands. One can use social media monitoring tools to stay on the top of the chart and among your competitors.
You can set alerts to keep track of what your competitors are up to everywhere by using Hootsuite. This will help you with all the information about what’s happening on the platform.
3. Respond to Customer Queries Quickly
You have to build a customer support strategy to solve the questions of your customers. In one study, twitter finds that 71% of people seek customer care service within one hour on social media. If you properly respond to them, then it will improve your impression of your customers.
4. Be Professional
You have to be professional with your work or business. As an influencer, you cannot miss deadlines, ignore contracts, etc.that will create a wrong impression on your customers.
5. Don’t Buy Fake Followers
It’s not a good sign or a positive attitude towards your work. You cannot buy fake followers. It doesn’t work, or it will make you feel embarrassed.
6. Use Instagram Tools to Save Time
There are multiple tools that will help you with post automation. Photo edits, video edits, and help with your post trends.
7. Promote Yourself on Other Channels
If you promote your brand on other social media platforms, then it will make your business double. Create a youtube channel and post your content there to get greater attention from your audience.
You can create a Facebook page and post your pictures and videos to gain more reach. Using these platforms will widen your scope and notify your audience about your new content.