Instagram is much more than a picture-posting platform. And with the right knowledge and tools, you can earn money too! Want to know how? Find out in this article.
Instagram, which simply began as a photo-sharing app, today has evolved into a powerful marketing platform. Thanks to thousands of brands and influencers, businesses can reach a wider target audience. It has more than a billion active users per month. Approximately 60% of the users turn to Instagram to discover new products, and around 80% of them follow a brand which gives entrepreneurs a golden opportunity to establish their name.
If you are an entrepreneur and are looking to build a brand image, with the right knowledge and tools, you can grow your followers and earn money too. There are many business coaching programs online to learn Instagram marketing, which you can join to gain in-depth knowledge.
Here are five proven ways that will help you to make money on Instagram with a decent number of followers:
1. Sponsored Posts
These days’ brands use influencer marketing to promote their products because it is more effective. This is because people trust word-of-mouth recommendations more than the brands themselves. Consumers look for referrals from their peers when trying to make a purchase decision.
Brands understand the needs of their consumers and hence, turn to influencers to promote their products rather than doing it themselves on their profiles. If you have a decent number of followers, you can start earning as an influencer. Brands focus more on the engagement rate than on increasing the number of followers. Thus, have more in-person interactions with your followers as it attracts more brands.
2. Affiliate Marketing
Sponsored products are not the only way to make some money on Instagram. Working as an affiliate can also help you monetize your account. Every time your follower purchases a product that you recommend in your account, you earn money. They can use a promo code or they can purchase the item by clicking on the affiliate link. The brand tracks the number of sales completed through your recommendation in your profile and pays a commission in return.
You can start by researching the brands that you will prefer to affiliate with, fill out a request form, and if approved, start promoting their products on your account.
3. Sell Your Own Digital & Physical Products
Many Instagrammers make money by selling their digital products. The good news is that Instagram focuses on visual things. Users often visit this platform to get inspiration and discover new products. So, as long as your products have a strong visual appeal you can sell your products on Instagram. Want to learn more about Instagram marketing? You can join the business coaching program; a specially designed program for entrepreneurs by Dr. Vivek Bindra.
4. Become a Brand Ambassador
The high level of influencer marketing on Instagram makes it an ideal place to seek brand ambassadors. Though sponsored posts are common on Instagram, some brands prefer establishing long-term partnerships with influencers. They use them to endorse their products as their brand ambassadors.
Therefore, you can seek opportunities for collaboration with big brands on Instagram to promote their products too. The company will send you their free products to review and promote on your account.
5. Offer Social Media Marketing Services
Today, social media marketing is playing a key role in brands’ marketing strategies because of its strong sales potential. They use these platforms to endorse their products, services, and brand because they can easily find their target audience on these networks.
The competition is growing every day; hence it’s not easy for brands to run ads or post engaging content on Instagram. However, it’s easy to create great content with professional assistance and that’s what they are doing with influencers.
By using the strategies that we have mentioned above, you can simply start monetizing your account in no time. You can also join online coaching programs for entrepreneurs that will help you to understand digital marketing, different platforms, and its wide scope to reach your target customers.