Instagram tops the list of the fastest-growing social media platforms with over one billion active users.
It was designed purposely for photo-sharing, but nowadays, it has evolved into a powerful marketing tool that influencers and business owners are using to convey their message to their potential and existing customers. Instagram is ideal for all businesses, regardless of their size. The first step to making money on Instagram is to grow followers on Instagram. With a tremendous following, you’ll become an influencer, and this will ensure you’re you stand an excellent chance to make reasonable money on Instagram.
According to studies, over 50% of people learn about new brands from this platform, 70% of them follow one or more brands, 300 million accounts check out a commercial profile daily, and 60% of profile navigations are from new followers.
Just like other social media platforms, Instagram is a venue where prospective customers converge daily.
For you to make money on Instagram, you need to have a top-notch business model.
In this article, we’ll discuss four strategies to start earning money on Instagram 2020
Publish Sponsored Brands
As an influencer, you can reach out to brands and convince them of the benefits they will reap once you publish their products on your posts. Since your reputation regarding the sharing of information online is reputable among your followers, you’ll find it easy to persuade your followers about the significance of using a particular product. Since influencers’ convincing power is exceptional, brands tend to collaborate with such individuals to aid in spreading the word concerning their products.
Top-notch influencers make hundreds of dollars per sponsored post. The more the posts, the higher the pay.
Once a brand partners with an influencer, he or she will create an eye-catching content that can either be an Instagram post or story, that will encompass the product(s) being promoted. As an influencer, it is vital to know your audience and the type of content that is suited for them.
You can become an affiliate and start to earn money by selling other people’s products. Countless brands sell their products via affiliate programs. This is an opportunity you can exploit and make money on Instagram.
An affiliate differs from an influencer in that he/she focuses on selling products of a particular brand in exchange for a commission. On the other hand, an influencer focuses on popularizing a brand.
Affiliates earn money on Instagram via a traceable promo code or link to ensure that every click is converted to sales.
The secret to making money as an affiliate on Instagram is to create fresh and informative posts, and this will help you promote the products assigned without a struggle.
Sell Poster Photos and Other Virtual Brands.
Instagram is more of visual content. It offers a competitive market for photogenic products. You can earn money by selling all sorts of virtual products such as poster photos, videos, animations, paintings, and more. On every single post, direct the visitors to navigate the link in your bio, as this is another effective way people earn money from Instagram.
As long as anything you post is exceptional and engaging, there is a high possibility that you’ll reap big from it.
Sell Individual Physical Products
You can make money on Instagram by selling any physical product that you manufacture or buy from other vendors. This traditional eCommerce retailing entails piling some stock, meaning a startup capital is inevitable if you’re to venture in this business opportunity. Additionally, you’ll need a storage space to keep your products.
From the above, it is evident that there are endless ways of making money on Instagram. With the rise in the number of active users, Instagram offers unlimited opportunities for making money online.