How To Make Money On Instagram

How To Make Money on Instagram

Last Updated: June, 2020

What is Instagram?

As defined by Instagram.com, Instagram is a “free photo and video sharing app.”

It’s a popular social media platform. Some Instagram influencers have learned how to monetize Instagram in a big way.

If your Instagram post becomes viral, you may find yourself with a ton of new Instagram followers.

So, keep reading and discover how to make money from Instagram.

How To Make Money On Instagram

How to Monetize Instagram

More than 500 million people use Instagram daily. Furthermore, most of those users are under the age of 35. There is a lot of potential for businesses aiming at younger consumer segments.

What Are the Main Ways that You Can Make Money With Instagram?

There are three main ways you can make money with Instagram.

  1. Influencer
  2. Marketer
  3. Entrepreneur

None of these methods is easy. You will need to put in serious effort if you want to make serious money.

Instagram Influencer

Influencers are people with enough clout over their followers to convince them to buy recommended products and services. This influence over a target market makes them valuable to a wide range of businesses.

Leveraging a pre-established reputation for marketing purposes is more efficient than building up a following for marketing purposes.

As such, would-be influencers need a couple of factors if they want to get businesses flocking to them.

  1. They need a good number of Instagram followers because more followers mean more potential customers.

  2. They need a high engagement rate because that shows that their followers are paying attention to them.

You can get started by choosing a niche for yourself. This is important because there are many influencers and would-be influencers out there.

It is tough for newcomers to establish themselves in a saturated market. Yet, the right niche can enable you to minimize the number of competitors, thus allowing you to target like-minded people.

The sheer number of influencers and would-be influencers means that niches should be specific. The chances are good that if a niche can be described in one or two words, it is already occupied by one or more individuals.

Building a following is a time-consuming and challenging process. Different niches have different rules, but some generalizations can be made about them.

First, you should post content regularly, so like-minded people have reason to view your content pages repeatedly.

Second, post content that is useful, entertaining, or otherwise interesting for people in your niche. Over time, this combination will enable you to secure more and more followers. Though keeping it up can be much easier said than done.

Eventually, you will be ready to start turning your influence into money. Of course, that can’t happen unless you get in touch with the right businesses, which can be done through one of two ways.

One, you can seek out relevant businesses on your initiative. Two, you can use an influencer marketing platform that exists to connect those who want to be influencers and those who want to use influencers.

Being An Affiliate Marketer

Another way to make money from Instagram is through affiliate marketing. In some ways, an affiliate marketer is similar to an influencer. For instance, both of them need Instagram followers and a high engagement rate for the best results.

Yet, there is a significant difference in that influencers get paid for marketing, whereas affiliate marketers get paid for actual leads or sales.

Like influencers, affiliate marketers need to choose a specific niche in which to operate. Being specific enables you to sell the most relevant products to your audience.

In contrast, being non-specific means a lot of their marketing will be aimed at people with no interest in the product or service.

Affiliate marketers do have one significant advantage over influencers. They can be straightforward about what they are doing when it comes to their niche.

For example, they can straight-up say they focus on dog food rather than something more removed such as dog nutrition.

In any case, the rest of being an affiliate marketer is very similar to being an influencer. For instance, you can choose to team up with businesses either on your own or through a third-party intermediary.

Similarly, you need to make it clear how you are earning income. It isn’t just a matter of maintaining trust with your followers. You need to be in compliance with the laws in Canada and the other Countries where your followers live.

Being An Entrepreneur

Finally, you can use Instagram to sell your products and services to your followers. Instagram marketing for this use remains much the same as Instagram monetization we just covered.

Yet, there can be no doubt about the fact that entrepreneurship is the toughest route of them all.

After all, entrepreneurs have to come up with their own products and services to sell. Moreover, you have to find a solution for the processes needed to complete a sale. For example, you will need to have a way to accept payment in exchange for your products and services.

Likewise, if you are selling something physical, you’ll need a way to get the item to your customers. Fortunately, there is a wide range of services to make these processes easier for entrepreneurs. Be sure to do your research before getting started.

Those are some of the more manageable parts of entrepreneurship. You first need to identify a niche in the market that you can target. It would be best if you drew up a plan for either products or services grounded in solid research. Then you need to acquire the resources to implement your plan.

Just that last step can be Herculean labour in its own right because it can require you to seek out funding, learn new skills, and seek out partners or employees with the relevant talents. If you manage to succeed in this regard, the rewards can be significant.

THE BOTTOM LINE

Making money on Instagram is something you can do. It starts with your first Instagram post and building a loyal following. There’s no real answer to how many flowers you need on Instagram to make money. That will depend on how you are making money off Instagram and the responsiveness of your followers.

The successful Instagram influencers, marketers and entrepreneurs all have one thing in common. They focus on a specific niche, connect to their followers, and provide consistent, exciting content.

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