How To Make A Lot Of Money On Instagram While You Grow Your Account
No doubt you have heard about Instagram and how everyone from celebrities to regular folks is making money. Perhaps it is time you looked a little closer at Instagram and cashed in yourself.
Making money on Instagram is not hard if you know how to use it correctly. Some heavy hitters on the platform are referred to as influencers and they are making big bucks every month on Instagram.
For instance, the total number of monthly active Instagram users as of January 2020 was 1 billion-plus which means the platform is an excellent opportunity to make money. However, be forewarned, there is some stiff competition out there if you decide to take on those influencers.
Sell Almost Anything on Instagram
One of the great opportunities Instagram provides is the potential users who were reported as more than 500 million-plus daily as of January 2020. Think about that number for a minute; those are people you can attract to your brand if you do it right. And even though not everyone on Instagram is there to purchase products or services, you can still use the social media platform to sell almost anything.
If you want to break into the Instagram money-making arena, these steps below are a good place to start making money on Instagram.
First Step: Opt for the Right Market
The most important step before you begin making money on Instagram is to choose the best sector or niche market for you.
For instance, you cannot just decide one day to sell cosmetics or clothing and hope that people will stop everything and start buying from you. You need to go with an exceptional product and niche market to create influence. If you’re sketchy on which you should pick, take a look at this list that offers a look at the top 11 highly profitable Instagram niches for 2020 ranging from tech to travel.
Whichever area you choose, make sure that there is enough demand for products in that sector or you will be spinning your wheels.
When finally choosing a product and sector, try matching your skills and knowledge with products/services that are in demand in that specific market.
If you’re serious about succeeding on Instagram, know your product and audience before posting on Instagram. For instance, picking travel as your niche might not give you the best start. Instead, hone it in more specifically to something like “traveling to Europe” that focuses on a niche of potential customers.
Once you have decided on your target group, the next step is to get followers who can ultimately assist you in making money on Instagram.
Step 2: Getting Instant Instagram Followers
First impressions are what could make or break you on Instagram that is why you need to look and be your best.
Remember when a prospect visits your profile, they are looking for someone who is a professional and is knowledgeable about what they are pitching. They do not want someone who seems arrogant, self-absorbed, or talks down to clients. Make sure your profile photo is clear, current, and professional and your bio is up to date and reads well.
Whether you’re an individual or a startup, beautiful Instagram aesthetics aren’t new; your feed should appeal to new followers as well as current followers.
For example, your feed does not need to be spartan, boring, and lacking in color or other aesthetics. Stay consistent with your brand/personality and the target market you are trying to impress and attract.
If you are posting Instagram stories, adding videos, or creating your profile from scratch, make sure everything aligns and flows.
Here are some more fast tips to help gain instant Instagram followers:
- Learn Adobe Lightroom;
- Use filters or presets on all photos to make them look appealing; and
- Begin using Instagram Stories Templates, additional tools such as Canva or Unfold can create great Instagram stories.
Even More Tips
Be sure to optimize your reach with hashtags and location tags. Besides being seen on the explore page, your stories will pop up and start being visible in various locations.
Share selfies as often as you can so that people can build a strong bond and connect with you and your brand.
Utilize Instagram ads to the fullest capacity
With others who have popular brands to get more followers. Team-up with similar people to you and go for co-marketing campaigns.
Try and build partnerships with influencers as much as possible. Offer different giveaways to attract and inspire influencers.
Step 3: Ready, Set Earn
There are three ways to earn money through Instagram:
- a) Sponsored posts
- b) Selling your products
- c) Affiliate offers
When you obtain enough followers, you can start pitching them products. Ask for money from brands and get featured in their sponsored posts.
Sponsored posts depend on the number of followers and the level of engagement. More followers let you engage a wider audience.
Keep in mind a sponsored post should be openly disclosed as there are legal ramifications that need to be spelled out. In the United States, the Federal Trade Commission issued 90 warning letters to influencers that endorsed content without disclosing or discussing it with the company. FTC suggested to influencers to add hashtags in the post mentioning the relationship, such as #sponsored, #spon, #ad, #paid, or #partnership.
Selling Your Products
If actors, musical artists, and Millennials can make tons of cash per post, and others from sports stars to music artists so can you. These are influencers that are selling products like hotcakes. If you follow the steps below, you can do the same.
Make it Simple to Shop
After you have your product figured out and your target market remember to figure out your payment options. Try to offer more than one payment option by offering as many payment options as you can and use all the social media platforms to interact with your customer. More payment options will help customers to buy the product faster without any delay.
Also, don’t be a ghost, if the customer has questions about the product, give them the ability to contact you via a call, email, or text.
Lastly, recommend products for once you get off the ground with your Instagram account. In other words, if you have a lot of followers, you can make even more money by earning affiliate commissions. This essentially means an affiliate offer will pay you with every sale they make.
But you still should feature the product you are promoting in a way that best represents and connects with your audience.
In the end, while it may take time to start earning a profit from Instagram before you say goodbye to your regular day job, you can succeed. Knowing there are so many successful eCommerce retailers and influencers earning big incomes annually by selling dropshipped products via Instagram, it is surely a business model you should consider.