Instagram has now turned into a profitable ecommerce force, giving exposure unlike other social media networks. While it was first intended for sharing photos, it’s now a business platform, which anyone can use, including dropshipping ecommerce business owners. Making money on instagram is a trend that’s here to stay.
So you may be asking yourself…
can you make money on Instagram? How does one make money on Instagram? How does selling on Instagram differ from other types of social networks & ecommerce business?
Instagram is the ideal platform for selling products that photograph well. In other words, if your products are photogenic, most likely you can sell them with Instagram. Also, if you’re photogenic yourself or can take awesome photos, most likely you can have a huge following that can turn to customers.
In this short article, we’ll discuss the tactics that you can implement immediately, so you too can earn money from Instagram in 2019.
Can You Make Money on Instagram?
Yes, you can definitely make money on Instagram. As long as the business can be expressed visually, you can tap into Instagram’s millions of users.
Now you might be thinking, “how exactly can I make money on Instagram?”
So let’s get into it…
here are a few ways to make money on Instagram:
1. You can become an affiliate, earning money by selling products that belong to other brands.
2. You can become an influencer & focus on sponsored posts for brands, musicians or companies that want to reach to your audience, making you the perfect medium to do that.
3. You can also sell your own products, these can be physical or digital products, or even a service.
4.You can sell your photography.
In a nutshell, there are at least 4 business models to make money on Instagram:
1. Become an affiliate and make money selling other people’s products.
You can sell other people’s products and receive a commission.
Many brands & companies sell their products through affiliate programs. Many people on Instagram make money this way.
The difference between an influencer and an affiliate is that an affiliate works towards making sales for the partnering brand in exchange for a commission.
While, the influencer is mainly aiming to create brand awareness.
Affiliates make money on Instagram through a trackable link or a promotion code to make sure that any clicks are converted to sales.
Create engaging posts/content), so you can promote the products without being pushy.
Since you can only have one link on your Instagram bio, you might want to include a landing page to your affiliate link. In each post, include a caption that the product can be purchased via the link on the Instagram bio.
2. Become an influencer and make money from sponsored posts.
With your influencer status, you can approach brands & companies to promote them in your posts.
An influencer is someone who builds a reputation by doing and sharing things online. They have a good following and are able to convince their audiences about trends because of the level of trust they have built with their online presence.
Brands & companies tend to partner with influencers to do sponsored posts that help spread the word about their products.
An influencer can make thousands of dollars per sponsored post. Imagine doing one sponsored post per day, you can make tens of thousands of dollars per month easily.
A typical influencer post includes creating content such as an Instagram post or an Instagram story, that will include the promotion of the brand or their products.
As an influencer, it’s extremely important for you to nkow & understand your audience so you know which brands would best fit your followers.
Switching to an Instagram business account is the best step to understand more about your audience. You can research your numbers & understand a bit more about how your followers interact with your content through your Instagram Analytics report.
So you might be thinking,
how do I find brands to work with that will be willing to pay me for a sponsored post?
Well, if you’ve created a solid online presence, chances are big brands or companies will reach out to you.
But, you can also find brands yourself. You can reach out to brands directly (through Instagram or their websites) & try to negotiate a deal.
You can also simply list yourself on an influencer marketplace to increase your chances of being found by brands.
Read More On: How To Get 10K Followers On Instagram In 2019
3. Sell your own physical products.
You can sell any physical product that you make/produce yourself or purchase from suppliers. This form of ecommerce retailing usually requires stocking some inventory, meaning you’d need to spend some capital to stock products.
And it requires a safe place where you can store the products, such as a spare room at home or a rented storage place.
if you purchase some stock from a international supplier, you’d need a space to keep them before they’re ordered by and delivered to your customers.
You can sell goods directly on Instagram through Posts and Stories. By simply tagging products in your images, you can lead your followers to your product pages where they can purchase products quickly.
4. Sell poster photos and other virtual products.
Instagram is all about visual content.
You can sell poster photos, paintings, drawings, animations, videos, and other image or video-based digital products. On each post, refer readers to the link in your bio.
This is a popular way that to make money from Instagram.
If you take high-quality pictures, there’s a good chance you can get paid for it.
But don’t limit yourself with just photography, explore other possibilities that can enhance your pictures such as editing and composition. Use the best photo editing apps to get the most out of the photos that you take. Originality always does the trick.
Don’t forget to use Instagram hashtags to promote your photography portfolio.
For business purposes, check out the following stats:
1) 1 billion users are active every month. That’s almost three times the US population.
2) 500 million users are active every day. That’s almost double the US population.
3) In 2017, 70.7 percent of US businesses use Instagram. With 30 million businesses (both large and small) in the USA, this number translates to 21 million US businesses using Instagram.
4) 80% of Instagram users follow at least one business account. This means 640 million users follow at least one business account.
5) There are about 2 million Instagram advertisers every month.
6) Time spent on Instagram increases by 80% annually.
7) 300 million Instagram accounts use Instagram Stories every day.
8) Instagram users by age:
18 to 29 years old: 59%
30 to 49 years old: 33%
50 to 64 years old: 18%
64+ years old: 8 percent
9) Instagram users by gender:
10) Instagram posts with location tags get 79% more engagement.
11) Photos with faces get 38% more likes.
12) User-generated content has a 4.5% higher conversion rate.