Have you ever considered monetizing your Instagram account? Instagram is one of the fastest-growing social media platforms, and with good reason. Instagram has over 800 million active monthly users, making it a great place to market your products or services. Instagram can be a great way to make money if you know how to do it right! Here are three ways that might work for you.
Sponsored Content
Instagram offers the option for companies to pay influencers (i.e., Instagrammers with large followings) on behalf of brands in order to create content around those brands' products or services. Instagrammers can receive anywhere from $100 to several thousand dollars per post. Instagrammers can also work with brands to give away products in exchange for Instagram posts.
Take a look at the Hype Factory. This company connects Instagram influencers and brand clients, simplifying the process of creating sponsored content on Instagram. They offer more than 30 options for sponsorship packages that range from $100-$4000 per post (and include both "branded" Instagram posts and Instagram giveaways).
Selling Products
You can also use your Instagram account as an online store by linking out from your profile page so Instagram users can purchase your products. Instagram has built-in eCommerce features that allow you to list items for sale, complete with a "buy now" button and Instagram Pay options. Instagram's eCommerce features are Instagram Direct-only, so you'll need a business account to use them.
Selling products on Instagram is also about the relationships you build with your followers. That means that after posting an item for sale on Instagram, make sure to answer any questions or comments your followers might have and provide any additional information they might need in order to complete the purchase.
Your Instagram account is an extension of you, so be sure that everything posted on Instagram reflects who you are as a person--not just what products or services you're selling!
Be an affiliate marketer
Instagram also allows you to partner with other Instagrammers (or companies) and earn money by posting links in your Instagram bio or tagging products on Instagram. This type of affiliate marketing takes more work, but it can be a lucrative way for influencers to make some extra cash from their accounts.
If you are looking to grow your Instagram account and make money, we can help. We know that there is a lot of competition on Instagram so it’s important to be strategic about how you approach growing an audience. Our team has worked with many different types of companies in various industries over the years, creating marketing strategies tailored to their goals and needs. Whether you need creative content or social media management services, our experts are ready to get started!