Social media sites offer great opportunities to budding artists or professionals to make some money fast and easily today. Instagram is the fastest growing platform, with over one billion active users globally. It has evolved into a powerful marketing platform for all kinds of content. According to Shopify, on average, influencers earn around $88 per post if they have less than 10 000 followers, $200 if they have between 10 000 and 100 000 followers and $670 if they have over 1000 000 followers. Of Course, these numbers depend on the industry, the exact number of followers, the followers’ location, and the Instagram account’s engagement. Making money on Instagram is never going to be a simple task. It takes more than just a quirky description, catchy Instagram name, or consistent posting.
Here, I will tell you the 3 best ways to earn money on Instagram and other social media sites. You can be rich and lead a glamorous lifestyle if only you can play your cards right.
Affiliates make money on Instagram through a trackable link or a promo code to make sure that any clicks are converted to sales. Create engaging posts, so you can promote the products without being pushy. The thing is, 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. Try Linkr.bio to add multiple links on your landing page.
Sponsored posts are one of the main ways that influencers make money on Instagram. They work with a brand and get paid to promote their products or services through Instagram posts and stories. This works for the brand because they can get what they are selling in front of the influencer’s followers. They are also generally likely to trust and respond to their recommendations. You need to ensure that you get enough engagement and conversions when you’re doing a sponsored post, which means it’s vital that you stick to promoting things that are relevant to your niche and your audience. Your followers should also be able to trust that you only recommend things that you actually use and care about. So it’s important to be selective about the brands you promote with and your sponsored posts.
In May 2020, Instagram announced big news for IGTV. Around 200 approved, English-speaking creator partners would be able to feature ads on their IGTV videos. Similar to the way YouTubers make money through ads played throughout their videos, Instagram will be sharing an ‘industry standard’ 55% cut with the selected few, with a goal to expand this group of 200 to more around the globe.
Sell your own physical products.
You can sell any physical product that you make yourself or buy from suppliers. This conventional ecommerce retailing usually requires stocking some inventory, meaning you’d need to spend some startup capital to buy your products.
You’ll also need a place where you can keep the products. This is especially true if you plan on saving money by buying products in bulk. You’ll need a place to keep everything before they’re ordered by and delivered to customers.
Making money on Instagram is quite accessible. If you have a fairly decent following, there is no reason why you can’t make a decent amount of cash from your Instagram account. Whether you decide to partner with a brand and promote their products, share other people’s products, or sell your own items. There are plenty of options that will help you earn money while getting more followers on your account. Just make sure to be smart when selling items or promoting other companies and brands.