Instagram has become one of the most popular platforms for influencer marketing and making money in the recent few years. So, if you have a good following on the popular social platform, you can do it too.
In this article, we will look at how to make money on Instagram and look at some of the actionable ways to do it.
You’ve already seen Youtuber and Bloggers making money on their platform with the support of their reach. If you’ve got a foothold and an audience on your Instagram profile, you must have said, “I wish I could earn too! ”.
Lately, Instagram has established itself as a force of nature. From where it was called as a photo-sharing app to a powerful marketing tool for business, Instagram has covered a lot of ground.
Are you still thinking about whether you can make money on Instagram?
Of course, you can!
With the price of sponsored posts ranging from $200 to $10,000, Instagram can be the ideal opportunity for you to make some good money.
However, before stating the ways of how you make money on Instagram, let’s read a few requisites.
The first question that would have come to your mind would be, “Why should a business pay you”? “What do businesses lack and you have that will make them pay you?”
The answer is pretty simple – exposure to your audience.
How to Make Money on Instagram?
Here are a few quick tips to make a good amount of money on Instagram if you have a decent number of following.
01. Become an Influencer
Social-media Influencer is probably one of the most used terms nowadays. An influencer is a person who has built a successful online reputation by engaging their followers in quality content. It has proven to be the most common strategy to earn money on Instagram.
Influencers are trendsetters or experts whose views have a strong tendency to be embraced by their audience and also what advertisers are looking for. Brands want to concentrate on the confidence and level of interaction of their audience.
Don’t know where to start? Here are a few influencer marketplaces where you can find brands to work with!
After connecting with the brand, you have to share the sponsored content as your Instagram post or story. You can mention the branded hashtag and link in your caption.
Here’s a tip – To respect your audience’s trust, mention #sponsored hashtag that will indicate sponsored posts.
Brands are willing to pay anywhere between $200-$400 per post if you’ve sufficient followers. Although a million followers on your profile can help you generate a lot more than this.
02. Affiliate Marketing
While an influencer is more interested in making general awareness among their audience, an affiliate is interested in making sales to earn a commission.
Brands look for influencers to sell their affiliate product. You just have to sell their product and receive a commission.
You can do this by creating engaging posts that focus on promoting the brand and redirecting them to the link to the landing page. You can add this link in your bio since Instagram doesn’t allow you to post links anywhere else.
When done right, these affiliate links can help you generate a lot of money.
Here’s a tip – Don’t try to be too pushy while promoting the product and make use of Instagram stories.
How to get started with Affiliate Marketing on Instagram? Here are some popular marketplaces:
03. Sell your Products
Gone are the days when you needed a physical store to sell your products.
While selling products directly on Instagram can prove to be a tough job, it is still the job that yields you maximum returns.
Whether you’re selling a product that you’ve produced yourself or purchased from a supplier, Instagram features such as in-app checkout, product tags, and the shop button are here to make things easier.
Here are some steps on how you can sell your product on Instagram:
04. Sell Your Photos
Instagram was supposed to be a photo-sharing app in the first place. So if you think you’ve got the ability to take high-quality pictures, your photos can prove to be an asset.
People are using stock images these days and these images can be licensed, printed, and sold in a number of ways. You don’t need an expensive camera or staged photos, brands need real-world photos to click with their audience.
You just have to pitch your value proposition to brands and influential personalities by sending an Instagram DM and waiting for their response.
Or you can sell your photos on these marketplaces:
If you haven’t already heard about it, look for Daniel Arnold’s story on the internet where he was able to earn a lot of money in a single night by selling photos.
Here’s a tip – You can use the organic means on Instagram as much as you can to promote your photos. Use relevant hashtags. You might get lucky and find prospects that even buy Instagram accounts.
05. Provide Social Media Marketing Services
This is an obvious way to make money on Instagram. There are millions of brads that need support with their marketing activities. So, once you understand the Instagram platform well and what works, you can extend your expertise to other brands and get paid in return.
Many brands look for social media marketers as they may not have the time or the expertise to do it well. You can reach out to brands and pitch your ideas to get the job.
You can start your journey by making a Google search about social media marketing jobs.
Instagram is gaining non-stop popularity and the stats show that it has many years in its peak left. There are plenty of success stories on the internet that can inspire you to make some serious money from Instagram.
Keeping your target audience in mind, you can make use of the above-listed ways to make money on Instagram.