Instagram has over 600 million monthly active users and 400 million daily active users. That means a platform which is being used by at least 400 million users on a daily basis offers endless opportunities to make money. The best thing about Instagram is, you don’t need to be an expert writer or a blogger to earn money. You simply need to be creative and spend some time in learning the nuances of the platform to make a lot of money legitimately.
Here are some common ways to make a fortune out of your Instagram account:
To succeed online especially on social media, you need to take care of some basic factors related to your public profile. If you are really serious about making money on Instagram, you need to spend some time in making your profile impressive. Fill out your bio with the relevant hashtags and personal information, upload good photos, and engage with your followers and target audience on a regular basis to make sure that your account looks active and real. This is the minimum you need to do to take advantage of Instagram.
Also, a large number of Instagram followers will be proof of your popularity on the platform. Thus, you will be in a better position to negotiate with the brands and advertisers if you have a large following. However, you don’t need millions of followers to make money on Instagram. You can start making money even if you have 500 followers.
Here are some creative ways to monetize your Instagram account. Some of these may require a significant number of fan base whereas others need some creativity.
Create Sponsored Posts
Join hands with advertisers to set up and promote branded sponsored posts. Advertisers will pay you based on your number of followers and engagement on the platform. You will get offers to write sponsored posts even if you have 500 followers. However, to make a substantial amount of money, you should have at least 5000 followers and high engagement.
You can approach brands in your personal capacity but, it will require a lot of time and patience to target particular brands and convince them to pay for sponsored posts. Fortunately, several online marketplaces connect influencers like you and the brands. The platforms like Influenz, Fohrcard and Grapevine can help you take maximum advantage of your online follower base. You simply need to join these platforms and choose the relevant categories so that brands from that categories can find you. Once you set up your account, you will be given status updates that you simply need to post on your Instagram account at a specified time. High engagement on sponsored posts will fetch more money.
Sell your Photos
Instagram is primarily a photo sharing app. To shine on Instagram, you need to create impressive images. If you are a good photographer and know the art of photo editing, you can make a lot of money on Instagram. The platforms like Foap enable you to sell your photos without any hassle of finding clients or setting up payment gateways. Using Foap, you can sell one image at $5. Each image can be sold to an unlimited number of customers. If you can create high-quality images that attract higher engagement on Instagram, then you can make a lot of money using Foap.
Clients prefer buying images on Foap over other prominent stock images websites as the site offers better quality at less price. Also, the photos on Foap looks more real which can represent the target audience of a lot of businesses. Thus images created by users on Instagram is far more valuable than that on stock sites.
Promote Affiliate Products
Instagram is a hidden goldmine for affiliate marketers. Promoting affiliate products using Instagram is much cheaper and efficient than promoting them through PPC advertising. If you are not an affiliate marketer already, you can easily find high-selling affiliate products on sites like Shareasale, ClickBank, etc. You simply need to sign up and choose a relevant product that suits your Instagram account.
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Once you have an affiliate product, use Instagram Shoutouts to promote it. Instagram shoutout is defined as “a screenshot of another user’s profile page uploaded to your account to show support and give exposure to the other user. Shoutouts can increase a user’s followers and provide advertising to small businesses and websites. By shouting out to other users, you may get shoutouts to your account in return.”
You can use sites like Shoutcart, to buy shoutouts from top influencers on the platform. It will help you promote your affiliate products to millions of Instagram users at a minuscule price. You can earn a handsome amount of money through affiliate commission without doing a single piece of work.
Sell Your Products or services
If you are a small business owner or want to sell a product online, Instagram could be very useful in promoting your brand and building a loyal customer base. Unlike Facebook, LinkedIn or Twitter, Instagram is still not crowded by companies. Thus, you will face relatively less competition while promoting your business to a highly engaged audience.
Remember that legitimately; you can’t become a millionaire overnight. Thus, make consistent efforts and use tips mentioned in this article to ensure long-term success in Instagram marketing.