You post pictures, follow the latest styles and enjoy watching trending reels. Agree or not, Instagram is the most popular social media channel now. But did you know? It is more than just a channel to update everyone about your life. Considered as one of the highly profitable social media marketing platforms, you can also use Instagram to make a lot of money by promoting your business!
Worried about such a low number of followers? No problem at all! You don’t require a massive list of followers to earn some money. All you need to do is reach out to a professional and creditable digital marketing agency in Australia, like Digi Marketers, where the social media experts can propound the ideal Instagram marketing strategy for your business, helping you to generate more income from this platform in ways more than one.
Till then, we’ll walk you through the various ways through which you can use Instagram to make big bucks you’ll be proud of.
Let’s dive in!
Top Ways to Make Money on Instagram
- Post brand sponsored content by working as an influencer
- Create content promoting tips and ads
- Advertise your own products by becoming an entrepreneur
- Become an affiliate marketer selling products belonging to other people
- Teach your audience and get paid
- Become an Instagram coach
- Inaugurate an Instagram shop
Why Using Instagram to Make Money is a Worthwhile Decision?
Instagram is a widely used social media platform. Ask how many Instagram users currently rule the world? It’s over 1 billion! As per the report by eMarketer, Instagram recorded over 1 billion users as 2020 came to an end. And interestingly, the number of users is still growing and there’s no slowing down.
So, who wins the battle – Instagram downloads vs other social app downloads?
Sensor Tower’s collection of data shows Instagram among the top five most popularly downloaded apps in both Google Play and iOs stores.
Furthermore, Instagram earned around 13 million downloads in the second quarter of 2020 alone. The report also shows that Instagram is the second most downloaded app, after TikTok, in January 2021.
If the growing number of Instagram users isn’t enough to convince you of the money-making potentials of this platform, we have some compelling reasons for you to ponder upon! They are:
- Business of any size can flourish
- Instagram offers ‘shoppable posts’ that enable businesses to add tags to the products with links on their photos allowing customers to ‘shop now’. The Shop tab feature on Instagram’s home page helps users to explore and make purchases from their favourite brands directly through Instagram.
- The live posts and Stories features make your business relatable to the target audience.
- Increases visibility of your business when relevant hashtags are used.
- Find out how your competitors are faring and engaging with their audience.
- Ditch the old promotional tactics. Instagram offers plenty of creative opportunities to advertise your products or services.
- Instagram ads work wonder in helping you reach new consumers.
Convinced enough? That’s great! Now, you need three things to make money on Instagram:
- Good reach
- Appropriate influence
- Engaged followers
This brings us to the main topic of our conversation –
Proven Ways to Earn Money on Instagram
1. Be an Influencer Today & Get Paid to Promote Products
This is the most common strategy to make a profit through Instagram.However, this may not be a viable option if you have only a few hundred followers; you require, at least, 5,000 followers and a high rate of engagement.And did you know? You can even earn up to six figures for every post!You need to do a very simple thing – post pictures that reflect your personality and shape up a unique personal brand.Besides implementing a social media marketing plan recommended by a reputable digital marketing agency, don’t forget your followers love you for who you are. As you share your pictures consistently, your influence is organically created and relevant brands start connecting with you, slowly and steadily.
Now that you fulfil all the criteria, making money becomes easy when you know these steps:
- Create a sponsored Instagram post (can be a photo or video)
- If you’re promoting a brand, include hashtags, links or mentions
- Share it with your audience
- Get your payment
But there’s a WARNING. Remember a bird in hand, is worth two in the bush. That means, don’t go for excessive sponsored posts just for the sake of growing rich and also, without knowing the brand. Excessive postings will wear down your audience’s interest and you can lose out on your followers.
For example, if you’ve built a personal brand around trying out different cuisines all over the globe and suddenly you share tips and tricks to lose weight, your reputation could be at stake.
2. Begin an Instagram Shop
Do you have an e-commerce store? You’ll be glad to know that the store can be integrated with your Instagram account. An Instagram shop is one and only way to let your followers know about your products through stories, reels, videos, posts, the Shop tab and explore tab on your profile.Gone are the days when e-commerce store owners used to struggle while selling on Instagram. But now, Instagram Shopping has opened a world of opportunities for sellers to highlight their products effortlessly and connect with target customers, at the right place, at the right time.Suppose you own an organic beauty brand and want to promote a moisturizer. Just upload a picture of your model using the moisturizer, tag five products per post (Instagram allows you to tag up to 20 products per carousel) and shoot!
3. Make the Most of Affiliate Links
Influencers who are into affiliate marketing can earn a decent commission from the sales they produce.Wanna know how it works? Every post, story or Instagram bio has traceable links and promo codes that allow brands to connect with the top influencers on the block. Depending on whether the partnership is a cost-per-acquisition or pay-per-click program, an influencer gets a commission ranging from 10% to 20%.
Are you looking for such rewarding affiliate marketing channels? Then you can check out ClixGalore, Impact, Click Bank and Affiliate Window. If these don’t work, you can always contact a leading digital marketing agency in Australia and avail professional affiliate marketing services to direct your sales towards the right path.
4. Let Your Content Bring Money
You already know how to monetize your content on YouTube. Now, you can do that on Instagram too! Explore one of these ways mentioned below:
- Live Badges: When you perform live on Instagram, your followers can show support by using Badges. It’s like your audience is giving you tips for the live broadcast! Badges appear beside the person’s name throughout the live video. Followers who’ve purchased badges in Live are distinguished on the comments and can unlock other features, like access to a special heart or placement on a creator’s list of badge recipients.
- IGTV Ads: This is an excellent way to induce cash flow from your Instagram content. It’s good to know that creators in Australia, the UK and the US are using Instagram ads from March 2021. That is, when your followers are watching IGTV videos on their feed, they can also watch these ads.Kevin Systrom, the CEO of Instagram, says, “We are keen on supporting the investment of creators in IGTV by sharing the promotion profits with them. The video ads are mobile-friendly and have a duration of 15 seconds maximum. We plan to test various IGTV ad experiences, like the ability to skip an ad, so that ultimately, it benefits creators, advertisers and common people.”
5. Transfer Knowledge to Your Audience. Get Paid.
Leveraging affiliate links to advertise other people’s products or selling your own products or services online are tried and tested ways of making money on Instagram. How about if we tell you there’s a better way to invite more cash apart from affiliate marketing and managing your product listings?
Well, the good news is, you can certainly do that by trading useful informational products.
No. We’re not talking about sharing your dating tips or the most effective weight loss diet plan to make insta-money! If you can teach your followers to do something constructive – like learning guitar, cooking different cuisines or glass painting, you can sell your skills for $100 or more!
Figure out what you’re really good at and provide value to your followers, take inspiration from other top Instagrammers to know how they’re going about it (food bloggers, photographers or fashion enthusiasts) and get started!
A channel that is currently dominated by a vast majority of Gen Z and Millennials, Instagram is undoubtedly one of the fastest growing social media marketing platforms having 500+ million people using Stories everyday and one-third of them is viewed by brands. Besides implementing these effective tactics, other essential rules to follow include advocating yourself properly, keeping yourself as authentic as possible, offering good customer service and promoting your work on other social channels. When you keep all of these in your mind, who’s stopping you from earning $1000? For a robust and compelling social media marketing plan, get in touch with Digi Marketers. We’re a premier digital marketing agency in Australia providing first-class online marketing services with a promise of satisfaction. Visit https://digimarketers.com.au/