Instagram has genuinely come a long way since its iconic launch in 2010. This mega photo album has over 500 million active users who post approximately 995 photos per second.
Instagram has seen dynamic growth in the apps culture, which has now turned into a massive market for marketing and advertising.
When Instagram got acquired by Facebook in 2012, it generated no revenue, but soon in the next year, various plans were mapped and executed. Instagram started incorporating advertisements in 2013.
This step opened many doors for its users to utilize their accounts for monetization. As a result, Instagram generated a whopping $20 billion advertising revenue in just 2019.
Even people with standard accounts got the opportunity to get behind the apps backstage and make a good income. As the years passed, Instagram has made the process of e-commerce very easy and feasible.
If you’d like to see a graphical breakdown on how to make money on Instagram, we got you covered:
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Is Making Money On Instagram Possible?
Yes, making money on Instagram is possible and entirely feasible. Unfortunately, many people feel it’s a complex and somewhat impossible task. But truth be told, if done correctly, you can very easily earn money and have a successful business model.
When you think of making money on Instagram, you cannot consider it a side hustle that needs very little attention. You have thousands of business modules that let you do that, but Instagram needs your undivided attention.
We promise that earning money on Instagram won’t be a distant dream if you can take it seriously.
Ways To Earn Money On Instagram
#1 Become An Affiliate & Sell Products
Affiliate marketing on Instagram isn’t hard if you have the right tools to market the products. You can become an affiliate for all the products that you like or believe in. Choosing a product of your choice lets you talk about the product with much ease.
You can browse any site of your liking and look at their affiliate program section. The page usually has all the essential details, terms, and conditions along with a form.
You need to fill the form and wait till your account gets approved. Once the company agrees on it, you can get ready with your camera to click pictures promoting the lifestyle images the company needs with the product.
Often, you will get a different code that helps the company track who bought the products navigating your account. Do not forget to edit the bio and add the link for people to navigate.
They would appreciate your link as it usually lets them have a slight discount too. It’s an actual win-win situation for all three parties.
#2 Design & Sell Your Unique Products
This idea is yet another option to earn money on Instagram by using a little creativity and time. Designing and selling can require a lot of time as you are practically building your brand and mini-store on Instagram.
It is not like an affiliate post where one post does the job. You need to constantly post product images and pull your audience using various strategies.
But before you get into the business of promoting online, you need to make a unique product that people are excited to pay for. The most popular products include lifestyle, fashion, home decor, phone covers, candles, and much more.
You can either get your creative boots on and start making something exciting or hire a small team that makes it for you. You then have to post pictures and get orders. Suppose you have a company website that features your products.
In that case, you can directly link the website or create an exciting user experience by opening an Instagram catalog for people who see and shop on the app.
#3 Become An Influencer And Be a Brand Ambassador
We understand that the word “influencer” gets tossed around so much that it has lost novelty.
Still, today, many top-notch influencers have a loyal fan base who pays close attention to their posting and life, which lets them earn a healthy amount of money each month.
You need to decide a niche and get into it, for example, tech, fashion, healthy living, minimalism, etc. Niching down helps you cut the fluff and serve a loyal fan base who needs genuine information.
Brands are constantly scouring such niche influencers who can become their brand ambassadors and create sponsored posts. The main difference between affiliate and brand ambassador is the period and dedication to the brand.
When you become an ambassador, you are the brand’s face and constantly post several posts. Because of the work scope, brands usually pay hefty amounts to these influencers.
You do not have to fit into broad niches; you can build your own like a beer aficionado or whisky enthusiast and create your accounts’ posts related to such.
The more unique niches you choose, the better your chances of leading the industry. Make sure to stay loyal to your fan and avoid taking whatever brand that comes your way.
For example, avoid promoting a product that sheds light on veganism when you know your next brand post will have crocodile skin handbags.
#4 Find Freelance Clients Via Instagram
We told you, Instagram has a place for everyone; you need to utilize the platform smartly. If you are a professional freelancer, Instagram can be an excellent platform to promote your services.
Make it look like your online portfolio and give all the necessary details in the bio. Make sure to use relevant hashtags and strategies to reach the audience that might need your expertise.
#5 Sell Digital Products
Do you have intangible products like a course or digital products like e-book or design templates? Instagram can be a great tool to sell those things too. Optimize your account and drive sales.
You have a considerable pool of audience who might be willing to buy your digital products; you can strategize and keep posting to attract new followers and potential buyers.
#6 Create Instagram Stories Masks and Photo Filters
We always say that people have been crafty since the dawn of time, and it stands valid to date. If you are looking for an excellent side hustle, this can be a good option.
Many people sell story masks, and filter presets for stories and photographs. This idea can be a lucrative side income source if you are good at it.
Many celebrities buy these masks and filters for their posts and stories to make their feed look aesthetic, and all you had to do was play with a few settings and color combinations.
Tips To Beat Fierce Competition
#1 Find a Niche
Niching is one of the best ways to get out of the competition. For example, if you review electronic gadgets and tech, you might face a lot of competition as the market is heavily saturated.
You can tackle this by creating a persona that only works for indie brands. People might come to you to find and learn about affordable or unique products that big brands fail to sell.
#2 Get Your Prices Right
We do not condone pricing low if you believe in your product/ service. But if you have a competition, you can keep competitive prices to win their followers and ultimately their clients.
#3 Learn From Your Competitors
To beat your competition on Instagram, you need to study them before. First, find out their way of working and how you can add a difference in your niche. Then, try to one-up from the competitors by constantly challenging yourself.
#4 Work On Your Weaknesses
Be as brutal as you can and assess your weakness. Then, if your business or account lacks anything, try to change it and give your consumers the best service/ products.
#5 Stay Updated
If you are marketing and setting your business model based on Instagram, you must embrace its fast-paced culture. You have to keep up with trends and keep changing accordingly.
Walking with the trend is a very efficient way of earning success and money on this platform.
#6 Provide Excellent Customer Service
Keep your clients happy by giving them extra care and treatment. Excellent service is what sets you apart from your competition.
A client is more likely to support your business if you have a good brand personality and excellent customer service.
How Many Instagram Followers Do You Need To Make Money?
Earlier, you needed a minimum of more than 20k-30k followers to get big brand deals, but since the market trends are changing, many companies wish to work with micro and micro-influencers to help promote their business.
Of course, it is always ideal to aim for many followers, but you can easily earn even if you have 2k followers who are loyal and can convert sales.
If you were scared to start earning on Instagram because of the follower count, this is a perfect time to get into the business.
Tips To Reach Out To The Target Audience
There are numerous tactics that you can try to reach out to the correct crowd. A few of the essential tips include:
- First, write a strategic and robust profile and bio.
- Strategize on creating engaging content which is relevant for your target audience.
- Pay attention to your current audience, who can help you gain word of mouth.
- Cross-promote your business or an Instagram account on various platforms.
- Collaborate with like-minded people to attract more audiences.
- Use relevant hashtags with care.
- Promote your posts to your dream audience by doing research.
Things You Should Avoid
#1 Avoiding Linking
Many influencers, marketeers forget to link their product, websites, other brands. Since Instagram doesn’t let you have links in the posts, you need to place them in the bio at all times strategically. If you have multiple links, use third-party software like Linktree to keep many links in one place.
#2 Posting Subpar Photos
Avoid posting bad photos that do not line up with your account or are blur or unattractive. Posting good images is especially important if you have a brand deal post. You should always make sure the product gets seen in the shot.
#3 Posting Without Purpose
It would help if you had a good marketing strategy behind each post. If you plan to post just pictures and wait for the magic to happen, chances are it will never happen.
#4 Bombarding With Paid Posts
You are on Instagram to create a bond, do not shove sales content every single time. Instead, add entertainment value so people feel entertained and appreciated.
We hope our Instagram guide gave you a few interesting ideas to start earning money via Instagram. Always remember to be creative when it comes to this platform.
Try to one-up your competition with a good balance of creativity, price, service, and quality.