Do you want to know how to monetize your Instagram account today?
Instagram began as a photo-sharing application, used by people for entertainment. It is owned by Facebook and has been around since 2010.
However, it didn’t take too long for users to start making money off of Instagram.
How Do You Monetize Your Instagram?
Many Instagrammers have a good reach, expertise, as well as influence—qualities that every marketer digs.
Are you one of them?
If so, do you want to know how to monetize your Instagram?
Let’s dive right in.
Key Requirements to Monetize Your Instagram
When done right, you can make a fortune from your posts and videos on Instagram.
Here are some of the pre-requisites:
1. A Strong Outreach
Having as many as 1,000 followers is good enough for you to start monetizing your account. That being said, the higher the number, the better.
What also matters is your status or influence.
Does your audience look at you as an expert in your niche? This is a prerequisite for monetizing your Instagram.
Just a good follower count is not enough for you to make money.
What holds equal importance is your engagement rate.
This largely depends on how your audience is consuming your content. Are they liking your posts? Are they going the extra mile by sharing it or leaving comments?
Some ways to keep your audience engaged are:
- Curating visually appealing content
- Posting consistently
- Using the right hashtags
- Making a good first impression by optimizing your profile
- Responding to comments
- Keep it real
Monetize Your Instagram: How You Can Do It
Here are some of the ways in which you can make money off your Instagram posts and or stories:Here are some of the ways in which you can make money off your Instagram posts: #instagramtips Click To Tweet
1. Sell Affiliate Products
Affiliate marketing generally involves adding a unique promo code, or a custom link to a promotional Instagram post.
How do you earn revenue from it?
Here’s how it works:
Whenever your followers buy a product using your link, you’ll receive a predetermined share of the revenue. Of course, it works best if you prep them with information about the product or service prior.
Show them why it will benefit their lives!
2. Advertise Products to Monetize Your Instagram
This monetizing technique involves you advertising products for a brand via your Instagram content. It could be a sponsored post, tutorial, or how-to video.
Most of the time, a fixed price is decided for a set number of posts.
Or, you could choose to make stories to go along with the Instagram post or a reel. (With a link sticker of course!) And then advertise your stories.
3. Sell Self-Branded Products
What if you don’t want to promote other companies?
You can still sell your own products. Yes, it’s easy now that you can tag your products right on your website. People can buy quickly and easily from Instagram.
Leverage your online presence to educate your audience about your products and redirect them to your website.
To keep track of your promotions, you can leverage Instagram analytics apps and get real-time insights.
Make Money on Instagram as an Influencer
Did you know the average influencers can make anywhere from $88 to $200 per post? According to the Petal blog:
According to a recent survey, these accounts can make up to, on average, $88.00 per post. However, most micro-influencers hold off on charging upfront so they can first garner a larger, long-term presence.
Many Instagram influencers may receive FREE perks along the way as well as they are getting started.
Your Turn on How to Monetize Your Instagram
Have you monetized your Instagram account yet? We’d love to know more in the comments below on how you are using Instagram today.
If you are not on Instagram or are new there; check out the beginners’ course below for you:
- 4 Tips You Need to Create a Winning Social Media Strategy - December 30, 2020
- Which Are the Best Ways to Monetize Your Instagram? - November 24, 2020