Besides,The enthusiasts of this social media platform are always looking out for new ways on how to earn money from Instagram.
Now you might be thinking: right, I get that it’s possible, but how exactly can I be making money on Instagram?
The answer is that there are plenty of ways by which you can earn money from Instagram. Here we will deeply discuss few of them.
- Sponsored posts for Brands (Influencer Marketing)
- Selling your own Products/Services (e-Commerce)
Before starting let’s see the Power of this platform:
- 800 million users are active every month. That’s almost three times the US population.
- 500 million users are active every day. That’s almost double the US population.
- In 2017, 70.7 percent of US businesses use Instagram. With 30 million businesses(both large and small) in the USA, this number translates to 21 million US businesses using Instagram.
- 80 percent of Instagram users follow at least one business account. This translates to 640 million users following at least one business account.
- There are 2 million Instagram advertisers every month.
So now, Let’s straight jump to the topic for which you are here.
1) Influencer Marketing
Instagram Stars, commonly known as “Influencers” are basically people with a substantial amount of reach (followers). As the name goes, an influencer is someone with enough reach to influence people, and that is where the role of brand integration along with income (cash/kind) for the influencer comes in.
Why Influencer Marketing?
Brands now-a-days are looking for newer ways to connect with their target audiences, as people are becoming more and more aversive towards ads. One such way to connect with the target audience is through Influencer Marketing.
Before you think that this is a small time thing, let me remind you that it is a full fledged industry and is growing rapidly as some of the largest brands from various sectors including influencer marketing in their marketing plans.
How Brands leverage the popularity of Instagram Influencers?
Brands from several sectors are finding it difficult to get engagement from their target audience and influencers provide large pool of audience (mostly Gen Z, Millennials) with higher engagement rate as compared to Ads.
Brands run campaigns in collaboration with Instagram influencers where these influencers provide Product Placement in their Instagram posts, Social Media Shoutouts, Use and review their products/services, etc.
That way, brands get visibility and engagement on Social Media and in exchange Influencers get paid in Cash and/or Kind.
Mumbaikar Nikhil promoting WWE. The brand he is promoting is so big, see his powers!
- Mumbaikar Nikhil promoting WWE. The brand he is promoting is soo big, see his powers!
- Aashna Shrof promoting super big brand Jaguar.
- Tara Sutaria promoting Bobbi Brown a well known cosmetics brand.
All these influencers has done hardwork and have made their profile look appealing so that people gets influence. All this is not achieved in one night. If you look their life 5-6 before, you would never believe what powers they are going to get.
So, simply the more followers you have, the more money you can earn. There is no upper limit to the earnings. However, it depends on the number of followers, engagement, budget of brand, etc.
2)Selling your own products/ E-Commerce
What can I sell with my page and how exactly can I do it?
Selling is not an easy process because there are many factors behind it.
The quality of the product, how you market and promote it, who do you promote it to, how do you convince people to buy it?
MANY FACTORS! However, there is a simple process that I have tried on Instagram that can result in higher conversion rates and more sales in overall. What’s that process?
Here is it in steps:
1) ANALYZE your audience, ask your followers what they want
2) The Story behind the product or service
4) Results, results and MORE results
5) Start selling
ANALYZE your audience, ask your followers what they want
The first thing before selling anything is to see if you have the right audience – testing the water. Start by asking questions via story what they want to change in their lives, what product do they need. For example, if you want to sell a course for Instagram, you can start by asking the question “Do you want to grow your Instagram page?” with a poll HELL YEAH/NOT REALLY, after that do a couple of more follow-up questions in order to have a higher segment to analyse with different tools on your stories. On the other hand, if you want to sell a fitness programme; ask “Do you want to be fit” … same tactics.
When you have your “followers” READY to buy, you just need to give it to them and take the money. This process should be as clear as possible and you should demonstrate again that you are trustworthy. How will they pay, where will the money go, when will they get the product, etc. – prepare for all of these questions.
3- Do affiliate marketing
Many brands and companies can provide you with a back-link to their online store. You post this link in your Bio, and with every purchase completed through the link, you get a percentage of the sale. Similar to influencers, an Instagram affiliate needs to have an account with a considerable number of active followers. So, when you post an affiliate link, the chances of that link being clicked increases, and that product or service gets more likely to sell, hence an increased commission for you.
It is a long process and cannot be done overnight and day weeks and even months of hardwork, but once you have the right audience then you can always make money off them. To do all this you would need an Instagram account with engaging followers with at least 10k and the best way for it grow organically would be through a network with engaging members.
It is possible for everyone who’s ready to work with Instagram despite the fact if it’s a business, freelancer or just general person using Instagram. But that’s a lot of work.
You have to build a valuable Instagram account, you have to find your own unique content you will be sharing as well as the unique style while posting that content – would it be a photo, a video, a story and so on. Besides, you have to keep the continuity with your posts and your style. You have to interact with your followers and try to attract them so they would interact as well.
The thing is that most of the time it requires a lot of time, knowledge, a lot of efforts, ideas, and skills so you could start earning money from Instagram and to be seen on Instagram.
At last, PRO Tips
- Instagram posts with location tags get 79 percent more engagement.
- Photos with faces get 38 percent more likes.
- User-generated content has a 4.5 percent higher conversion rate.
- Choose a clean username (no underscores or fullstops)
- Always provide a link to your blog
Making money from Instagram is not a rocket science. All You need to follow these tips on how to make money from Instagram and you will start earning you passive income from Instagram.