Instagram has reached 1 BILLION USERS this year (2018) and still growing while Facebook has started to slow. Everyone wants to get in on the Instagram action, mostly because they are seen as being a fast moving platform where you can start gaining money and social status in a short period of time, in some cases they aren’t wrong.
According to Recode.Net, average Instagram User spent 53 minutes on the App just on the Andriod device only. Let’s not forget the IOS (Apple) users, so you can dream how much time an average user is on the app. Eventually, experts predict Instagram to have the same amount of user time as Facebook. For any one, an app with 1 billion users, over 1 hour user time daily and overall free platform of traffic – it’s a goldmine for all types of businesses, brands, companies and personalities.
Yes, You’ve heard the stories about different users achieving monetary and status success on the app. Check out this Bloomberg article on how an artist using Instagram was able to connect with big time art buyers – https://www.bloomberg.com/news/arti…4-million-painting-fast-instagram-for-the-win
People are making great online income by leveraging Instagram. Even teenagers are paying their college by building incredible followings on the latest trending network. How do they do it?
Here are 6 different ways to make money on Instagram:
#1. Paid “Shoutouts” and Advertisement post
Companies will often pay popular Instagrammers or Instagram Accounts in their niche to advertise their products or services to their audiences. Instagram Account users can charge anywhere from $700-$4000 for a single shoutout (depending on their audience size, audience, etc)
Some of the largest Instagram accounts can even become ambassadors for the companies they’re working with. You can see famous celebrities like Selena Gomez, Beyonce, Kylie Jenner and many more promoting products from Shout Out Advertisement strategy
#2. Affiliate marketing
You don’t need to have a product of your own to make money on Instagram. With affiliate marketing, you can promote other people’s products and make money out of each successful conversion.
Here are some examples of Instagram accounts that make a lot of money from affiliate sales:
@tailopez is one example of Instagram account that promotes affiliate products. He sends his Instagram followers to a landing page designed to lead the visitors to the affiliate products he promotes and makes a lot of money doing affiliate promotion.
#3. Cost Per Action (CPA)
Similar to affiliate marketing. Do your own research and find CPA offers that you can promote or advertise on your Instagram Account. From there, you can make money every time someone does an action like purchase a product, sign up with their email, share their contact, etc.
It’s best to search for offers in your niche to get good conversion rates. If your niche is fitness or health, luxury, travel related, then you’re in luck because these niches convert well!
Please take caution when promoting CPA offers – if you’re spamming accounts with offer or promoting bad or lying offers – your account can be disabled for breaking rules of the Instagram community.
#4. Sell your Instagram Account
In reality, many Instagrammers do not have the time to grow an account and are you looking to buy an Instagram Account. So you can definitely sell Instagram Account to buyers that want to buy an Instagram Account for a good price depending on your account’s audience, engagement rate and industry.
#5. Instagram Account Management
Start your Social Media Agency or Instagram Account Management Agency. Leverage your skills and expertise in Instagram to pitch other Instagram brands, companies and enterprises how you can improve and manage their accounts.
As mention in #4, many Instagram Brands, Business and Companies do not have time to manage their accounts. They would happy to outsource this work to an expert that can get them results. Client potential is everywhere – your local restaurants, family’s businesses, friend’s page, etc!
#6. Selling Products and Services
If you are a brand, business, entrepreneur, you probably already have products or services that you offer as part of your business now you have the choice to promote your brand or company products on Instagram.
Here’s one example you can do – start an Instagram account to capture leads (emails, direct traffic to your link, phone numbers) with your Instagram content. First, you build or buy an Instagram account with influential, entertaining, motivational or educational content that will inspire your audience. Then you post call to actions on all your posts to get your followers and visiting users to click on the link in your bio or Direct Message to start a conversation. The link will send them to a landing page or your own website designed to attract leads that will be converted to sales or future opportunities – business, networking, etc.
Secondly, you can directly sell your physical or digital product (Fashion, Accessories, Ebook Courses, Furniture, Magazine Subscriptions etc) – like @asos and @natgeo
Or you can sell services, if you have a local business. You can promote different discounts or deals on your Instagram page.
So this mostly depends on the type of business you have. Either you build a huge mailing list that you can monetize, or you directly sell physical products.
Enjoy the 6 ways to make money on Instagram! Good Luck!