Do you want to know how to monetize your Instagram account in simple ways?
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.
If you are not familiar with Instagram you may want to read how to get started with the basics of Instagram.
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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.
You will need to have a business or creator account on the social media network site to work it properly and monitor results along the way. Of course, you will not want to have your Instagram account set to private.
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. So you may want to get started showing what you know on your feed.
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, saving posts, 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
- Engage on others’ posts and stories
- Add your YouTube links to your Instagram bio
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:
1. Sell Affiliate Products
Affiliate marketing generally involves adding a unique promo code, or a custom link to a promotional Instagram post. You can share the link in the story feature or on your bio.
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! Using videos and how-to tutorials will go a long way to showcasing products on this social media platform.
2. Advertise Products To Monetize 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 from 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. You will add links to Instagram stories easily.
Go to the sticker feature on your image as you upload to the story and then choose the link and add it, that’s it, see the sample below. It shows the main link but when you click it takes you to the particular page of the site that you put in.
However, you may also include a link in your bio or use a link tree to showcase multiple ones.
To keep track of your promotions, you can leverage Instagram analytics apps and get real-time insights.
4. Make Money On Instagram As An Influencer
Did you know the average influencer 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.
5. Sell Courses
You may opt to sell your courses via Instagram by posting about them. Use some teaser-type posts to get your audience interested. Furthermore, you could offer a discount or a time click each day on the network.
Show them what they need to learn through videos and how it will improve their lives.
Your Turn: How to Monetize Your Instagram Account
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:
- 5 Simple Ways How To Monetize Your Instagram Account - April 18, 2023
- 4 Tips You Need to Create a Winning Social Media Strategy - December 30, 2020