Now in its 10th year, Instagram has emerged as a valid income source and a profitable sales channel for many businesses worldwide. Statistics say that 6 out of 10 Instagram users log-in to the visual-centric platform every day. If you’re an active Instagram user, there are several potential revenue streams that you can explore. Here are a few tried-and-tested ways on how to make money on Instagram:
- Become an affiliate.
What is an affiliate?
An affiliate is a person (i.e., a marketer actually) who posts content with a trackable link or unique promo code of some kind. When a follower clicks the link and ends up making a purchase, the affiliate earns a commission. Affiliate marketers partner with various companies and brands and promote their products or services for them.
How does it work?
There are quite many different types of affiliate programs and platforms out there. Bloggers commonly use affiliate programs by discussing products and services in articles, videos, etc. However, more recently, affiliate links are being used more and more also on social media platforms. If you want to promote affiliate products on Instagram, reach out to an online merchant or join affiliate networks and platforms such as Ads Supply, CJ.com, ClickBank, or Amazon Associates (among others).
- Be an influencer.
What are influencers?
Influencers are users who have created an online reputation and a large following. Their audiences regard them as trendsetters and, more importantly, trusted experts whose opinions matter.
What can you do as an influencer?
As an influencer on Instagram, you can post content sponsored by businesses and brands. Many brands are constantly looking for various advertising techniques to create brand awareness, and one of the most effective ways is to post sponsored content. About 72% of users have purchased products or services after seeing an influencer-driven post.
How do you make money?
You can either have a single post or be part of an entire advertising campaign in exchange for a fee. You can reach out to businesses and brands directly to work out a deal or become part of an influencer marketing platform such as Fohr, Grapevine, Famebit, Crowdtap, and others.
- Open an online store.
How does this work?
Nowadays, content creators can leap into entrepreneurship. You can sell your own products on Instagram, whether you offer physical goods, digital items, or services. Instagram provides many tools for its users to build an audience. One of these tools and strategies is adding product tags and stickers to stories so that people can buy directly from the app.
How Does Shopping on Instagram Work?
Instagram has plenty of shopper-focused features, such as product tags, Instagram Checkout, shoppable posts, and shoppable stories. The recently-released “Shopping on Instagram” feature allows brands to add shoppable tags to their images. Each product promoted on the platform can have a direct link to its product page on Amazon or other online stores. It is crucial to have your own e-commerce infrastructure (i.e., a well-built online store). Your store should be able to provide more information on your products or services.