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The concept behind Instagram was to make an application for photo-sharing. Over the last few years, it has scaled up massively and is now used by businesses and influencers to reach their target audience. As of today, it has over a billion active users, making it a prominent marketing tool. As per Instagram Business, 60% of the people using Instagram discover new products on the platform. 80% of the users follow at least one brand page. Over 200 million users browse through a business profile daily, and 66% of visits are from users who do not follow the said account.
It is touted that Instagram will soon be at power with Google and Facebook in respect of reeling in potential customers. Now the real question arises on how to make money on Instagram? Many celebrities and influencers are getting paid thousands of dollars per post.
Given that the app has tremendous potential to help you earn, read ahead to understand how to get paid on Instagram for your work.
Create visual content for sale:
Instagram runs on visual content, be it photos or videos. On average, the users upload over close to 100 million photos and videos daily. It is not possible for every brand to regularly post professional-looking photos of their products. This is where you can step in. Given how most potential customers are looking for authenticity, and a personal touch, you can create visual content for sale.
Interestingly, one of the industries to support such work is the tourism sector. Travel companies, hotels, etc. all invite real travellers to visit them. The influencers post about their experiences and highlight the takeaway from the properties. In return, the influencers get a free stay and are paid their influencer fees.
User-generated content is proved to be 35% more memorable than regular content. The only drawback is that you have to be an established influencer, with a proven record of your engagement rate for bigger brands to take you seriously.
Work as a social media marketing consultant
Instagram has a high potential for sales, which is why brands want to use it to promote their products. To do the same, they identify their target audience to boost sales. However, since competition is growing, brands are seeking out professional assistance to stand out from the crowd. This is why social media marketing consultants are highly sought after. Many social media experts make their money by training the marketing teams of the brands. They also provide continued guidance monthly and help form social media strategies with a result in mind.
The best way to showcase your social media expertise is by keeping your personal Instagram handle on point. This will help you reach out to brands and get freelance projects to work on. In the long run, you could also be hired for the same brands.
Make money by selling other people’s products
Making money by getting a cut from selling other brands or people’s products is called affiliate marketing. Many people make money on Instagram through affiliate programs. This is, however, different from influencer marketing. While the concept of influencer marketing revolves around marketing, affiliate networking is more about making sales for the partner brand. In return, these brands give you a commission on the sales made. As an affiliate, you will be making money via a trackable link or promo code-shared by the brand.
When engaging in an affiliate network, the best way forward is to increase your engagement rate. You can place the products in the posts, which will be a more organic approach to selling the items. You can also share the trackable link in your bio. But keep the entire process transparent, as research says that 54% of the users prefer transparency.
Sell your products and services
In the last couple of years, Instagram has turned into a platform where many people and brands are directly selling their products and services. Since it already works as a platform where users discover and buy products, moving on to selling products was the next obvious step. The Instagram business account now has features like in-app checkout, product tags and shop buttons. These features make shopping more attractive to the end-user. The other option is to use Instagram as a marketing tool while you sell your products via a website or e-commerce platform.
You could choose to sell anything, as long as you can attract your target audience on your page. Use the right hashtags and keywords to make your posts and stories stand out. Also, if you can find your niche product or services, it will help eliminate the competition.
If you are a beginner, you can try dropshipping. The dropshipping business model can be operated without you having to ever hold any inventory. Your supplier will maintain the inventory and ship your products directly from their warehouse to your customer. This helps with not having to worry about anything apart from selling the products. You can also experiment a bit to find your niche products and attract a target audience, without having to worry about collecting capital for your start-up.
Become a brand ambassador
Once you have established yourself as an influencer, the next big step is to become a brand ambassador for a popular brand. This helps both you and the brand in developing a long-term association. Brands usually pick influencers they have worked with before who understand their core values. Instagram has, in recent years, become the preferred platform for influencer marketing, which makes it the perfect space for you to find brand ambassador programs.
Most brand ambassadors create signature products with their partner brands. This works as a double win for the ambassadors, because not only do they get a signing amount from the brand, but also end up earning royalties on the co-creation that is being promoted. If you are a micro-influencer with a niche audience matching the requirement of the brand, you can still be picked up as a brand ambassador.
There have been many opportunities cropping up on Instagram for you to grab hold of. With the growing scope of the platform, many users have had the same question in mind on how to earn money from Instagram. The platform has been a major marketing tool for brands and influencers alike, and now it is also providing a chance for users to sell their products and services on it. Most of the available options are limited to influencers with over at least 10K followers. However, if you can build a forte and loyal following, there are ample opportunities for you to earn money as a micro-influencer as well. Beyond being an influencer, if you can provide support to brands in building up their content, that too can help you earn money.
You can reach out to professional influencer platforms like Angel Amplifiers, who can help you navigate your way ahead. Angel Amplifiers is an influencer marketing platform that educates its influencers on the lucrative world of stock trading. The platform provides its influencers with resources to create engaging content and performance metrics. The platform is accessible on your desktop, and the mobile app version can be downloaded on Google Play Store and iOS App Store.