This year 2020, made the entire “world” go offline and turn to the online market. Social media marketing has reached greater heights this year, enriching many Influencers, Affiliate marketers and many of that kind.
An Influencer with good fame can earn millions of dollars by just putting one post on his/ her Instagram wall. Sounds easy. Isn’t it? But how?
Instagram, now has a billion followers and the numbers are shooting up every second. It means that you have a great customer base for your product. Your product can be physical or digital.
Everyone has their way of earning money on an online platform and we present to you some of the best ways of earning money from Instagram.
Be an Affiliate marketer
To make money with affiliate marketing, you have to join high paying affiliate programs so that you can add affiliate links to your Instagram and make a commission on every sale you generate.
Affiliate programs are potential enough to bring you a fortune. An affiliate is more invested in making sales for the partner brand and not just generating awareness in exchange for a commission.
Many online merchants are offering Affiliate programs which you can team up with or be an affiliate with globally popular marketplaces like Amazon Associates, Clickbank, RewardStyle, Shareasale, etc., You can also join individual affiliate programs right from a company’s website.
Affiliate marketing is a platform, where you’ll have a better chance at success if you have a plan with it and expand your online presence by creating a website and including other marketing channels.
Bonus: Affiliate links can be long and irritating sometimes, so I recommend a URL shortener like bit.ly, especially if you put them on your Instagram bio.
Are you an Instagram account holder with thousands or lakhs of followers? Then you can easily be an “Influencer”.
Typically, influencers involve themselves in the creation of content as in Instagram ads, a post, a video, or a Story and can sometimes include permission for the brand to use this content on their site or in an ad. These deals are usually negotiable and can involve a post or an entire campaign for a fee or a free product/ service.
Many Instagram influencers get paid for every post. Influencers have to have a high number of followers. The number of followers and your popularity as an Influencer goes hand in hand. Therefore, your pay rate per post is likely to be proportional to your follower count.
There are Micro-Influencers who have a follower base of 6K to 10K earn around $80-$100 per post and generally stick to a particular niche. Whereas Influencers with more than 50K followers may charge around $200-$250 per post.
Influencers with more than 100000 followers are paid with $10 for every 1000 followers.
Influencers must note to know their audience to keep them engaging and earn more.
Sell your products on Instagram
Instagram has potentially changed to an online market for the purchase of goods or services and has proved to be a sturdy sales generator for e-commerce brands.
Today, Instagram stands as a tremendous market to sell cheap cosmetics to expensive cars.
Any startups or young entrepreneurs can use Instagram as their platform to showcase their products to a large base of prospective customers.
For instance, say you design t-shirts. You can right away sell those on Instagram. Again, knowing the expectations of your followers can get you the key to success.
Your products can very well be a Digital product too. You can sell e-books, e-course or simply even selling a design can do the trick.
Selling Visual Contents on Instagram
Instagram itself is a Visual platform paving way for the Instagramers to post millions of pictures and videos on it every day.
Yes, we know that, but what does it have to do with making money?!
Simply by selling it. Businesses of all sizes want to showcase the content created by their customers, which can increase the trustworthiness of them among their potential customers.
Especially, when it comes to Travel Industry- companies of all sizes heartily welcome real travelers to take photos showcasing their experiences while staying at their properties in exchange for free accommodation or payment (when you get luckier, maybe both).
Exhibiting user-generated content in the travel industry gives colossal results.
For the case, a small town in New Zealand, Wanaka, reportedly achieved a 14% increase in tourism after working with Instagram influencers who shared the images of the city on their profiles.
Dropshipping in Instagram
Dropshipping is selling products retail without keeping stock of the product. Wait, what?!
Yes, you can easily sell your products for a retail price without having physical stock of the product. You just have to source orders and transfer those to a wholesaler or manufacturer. You can even sell a product from a retailer with a margin.
Dropshipping is now a promising business, especially on Instagram. The dropshipping market is growing big with its widespread customer base.
Some of the interesting facts about dropshipping are you can sell products retail on an online platform without worrying about neither the stocking of the products nor the shipping of the products.
Packaging and Shipping are done by your wholesaler or manufacturer directly to the customer. So simply by being online, you get orders and earn.
Instagram is one of the fastest-growing social media platforms with tremendous engagement, so using it the right way can give you more profit. From sponsored posts to affiliate marketing, there are many creative ways for anyone to make money on Instagram.
Ultimately, putting time and the right effort into Instagram is a great investment for a promising business. It is always the right time to start setting up and monetize from Instagram.