There are different ways that a brand or content creator can make money on Instagram.
It may be tough if you are just starting out, but you can do it if you increase your reach and influence. These two allow you to explore various revenue streaming avenues.
But that’s not all:
You also need to have a specific niche you’ve mastered and engaged followers. The more engaged they are, the better.
While Instagrammers with huge followings make some good money per post, even those with a small but engaged audience can cash in.
So, once you’ve garnered the above requirements, how can you make money on Instagram?
Depending on the niche you choose, your audience, and commitment level, you can monetize your Instagram account in the following ways:
Sell Your Own Products and Services
Instagram has numerous features you can use to help you promote your products and services. These features help you create awareness and drive sales.
Shoppable posts: They allow consumers to shop directly from your posts without leaving the app.
Instagram Stories product stickers: They allow consumers to tap on stickers in your Stories for more information or to purchase.
Instagram Checkout: Consumers can view products and purchase without leaving the app
You can integrate links to content into your bio, IGTV video descriptions, and Instagram Stories.
Affiliate links allow you to earn commissions for traffic or sales you drive for brands and businesses.
The partner brand gives you a unique promo code or trackable link to incorporate into your posts. Once a customer buys via the link or using the promo code, you earn money.
There are two ways to earn money from this:
Pay per click: You get paid a small amount for every click you drive to a website.
Cost per acquisition: You get a percentage of every sale.
For sponsored posts, you will need to have some influence on your followers. As an influencer, you become a trusted expert, trendsetter, and tastemaker.
Brands can then approach you to promote their products or services.
You will have followers who trust your opinions and recommendations.
But there’s a catch:
You cant work with every brand that approaches you. Be selective so that you only work with brands within your niche who share your values.
You also need to disclose the partnership when posting sponsored content and follow guidelines set by the Federal Trade Commission (FTC).
Need more ways to monetize your Instagram account?
Check out the infographic below from ShaneBarker.com. It offers additional techniques and tricks to help you monetize your Instagram account and earn a fortune.