5 Ways to Make Money on Instagram
How much would you think a photograph is worth? Turns out, the amount can be enormous under the right conditions. Today, let us talk about five ways you can make money on Instagram. An amateur would think that this is not possible. Who could blame you? After all, Instagram is nothing more than a photo/video sharing social media platform, right?
Wrong! Once you gain Instagram followers beyond a certain threshold, it quickly morphs into a powerful and versatile business hub. When you see celebrities and stars posting images of a certain product and praising it beyond praise for no reason at all, do not be misled. They get paid for that. Honestly, you can too, but you will need to increase engagement and gain a large number of likes for your idea to bear fruit.
Become an influencer and engage in sponsored posts
Being an influencer is perhaps the most fruitful choice of all. But it is also equally difficult. The coveted status of an Instagram influencer requires much effort and work upon your part. You will need to build up trust with your audience through regular posts, stories, and other forms of engagement. Further, your regularity and previous choices have allowed you to gain a loyal fanbase that will quickly jump onto trends and buy certain products.
This is attainable only when your Instagram followers are huge in number and your posts generate powerful engagement. Once your reach becomes wide enough, you can upload sponsored posts by partnering with brands all over the world. Each of these posts could get you anywhere from a few hundred to several thousand dollars, depending upon your engagement, reach, and the brand you are partnering with.
Since it requires immense effort, it will be quite a while before you achieve this status, so make sure that your expectations are level with reality. This will take time but pay off in the long run.
Engage in affiliate marketing and sell others products
Affiliate marketing needs careful planning. Affiliate marketers are not much different from influencers, except that the former strive towards sales and commission rather than merely creating awareness about a brand. Thus, if you are an affiliate marketer, then apart from a wide reach and immense trust with your audience, you will also need to have a deep understanding of their likes and dislikes.
The earning you make here is commission based. So, you would want the maximum number of followers to follow the link you have provided and make a purchase. And you will need clever strategies to ensure that your followers use your affiliate link instead of merely visiting their website. Otherwise, the sale will not count as yours and your commission will be lost.
Sell your own art
Instagram is all about art. Whatever looks good, is sellable. This means you can set up a portfolio of digital content available for purchase from your website. Digital content can include stock photographs, DIY kits for interesting and clever hand-made products, wallpapers, and digital portraits and art.
Further, you can connect your Instagram followers (or followers from other platforms as well) to your Patreon or PayPal page. This will provide you with quick payments and other such perks that will come in handy.
Sell physical products
The trend of selling physical products on Instagram has shot up recently, especially in the aftermath of the Covid-19 pandemic. I am personally in touch with people whose businesses evolved so much that they started receiving bulk orders. Thus, if you have valuable, interesting, and noteworthy products to offer, selling on Instagram can make a lot of money.
Do note that you will need to handle shipping etc. yourself. This means that your products will be sold with shipping costs included and thus, selling across international borders will be troublesome. However, if your business grows significantly, this might not be a deal-breaker in the long run.
Instagram also allows you to set up a shop. Visit this page to learn how.
Take the easy way out – drop ship items
When I say easy, I mean easier than the ones mentioned above. But by no means do I mean that it will be easy. The idea of drop shipping is that you merely act as a messenger between the seller and the buyer. Once a deal is made, the seller will handle packaging, shipping, dispatching, and all related queries themselves.
This means you will not need to store anything with you and not worry about shipping. If the seller you have partnered with is established enough, then this can be even more fruitful than selling physical products.
There are almost 1 billion monthly active users on Instagram? This means that for any of the above-mentioned steps to work, you must expand your audience. Further, you will need to research and evaluate what your followers like and dislike.
Just like social platforms target ads, you will need to target anything you sell. The only difference is that you will need to filter the products out instead of your audience.
What other ways can you think of to make a quick buck on Instagram. We are talking about legal methods only :D. Let us know in the comments below.