Since its launch in 2010, Instagram has come a long way from being just another photo sharing app to one of the most popular social media platforms in the world. And, why not? Visuals do have a far greater impact on people than text. So, it isn’t surprising that six out of 10 adults online have an Insta account or that more than 40 billion pics and videos have been shared on this network since its inception. These statistics were revealed in an article on WordStream, published in February 2019.
The huge popularity of the platform has drawn marketers from all over the world to it. And, they are capitalizing on the preference for user-generated content among today’s audiences. This offers some good opportunities to make some extra money with your photos and videos. The catch is that the more followers you have, the higher your chances of making some good money.
How Do You Earn on Instagram?
Instagram doesn’t follow the same means of monetizing content as YouTube and Google. You need to find brands or sponsors to pay you directly. The payment will, of course, vary from sponsor to sponsor. But, a lot has to do with the size of your follower base. For instance, some brands pay between $5 and $10 for 10,000 followers, while there might be some that pay much more. Again, not just the size but the quality of the follower base can play a role in this. You could even expect to be paid between $2,000 and $3,000 per sponsored photo posted, if you have 500,000+ followers at your disposal.
However, I don’t want to get your hopes up. It takes time, a lot of effort, great quality content and perseverance to reach there. So, let’s take one step at a time and first learn how to monetize content on Instagram.
Easy Steps to Make Money on Instagram in 2019
So, let’s take a look.
To attract followers, fill out your bio with all the right and relevant information. Use keywords and hashtags to increase visibility, so that followers can find you easily. Keep posting regularly and make sure the content is original, engaging and relevant to your target audience. Your posts will serve as a social media résumé to attract sponsors and marketers. Hashtags help your images travel far on this platform, so check out the trending hashtags and use them intelligently. Engage with your followers by commenting on and liking their images too, and they will do the same in return.
Affiliate marketing means promoting another business’ products and get paid a commission, based on sales through your reference. You can promote affiliate products in your posts via links. Some brands have well-established affiliate programs that give you all the basic tools you need to promote their products on your profile. As an influencer, your recommendations will be effective only when your affiliate product is a fit with your follower base.
Create Sponsored Posts
Sponsored posts include content designed to highlight a specific brand or product. As an influencer, you can help build a brand’s reputation by sharing awesome things online. However, it should look like a genuine recommendation from the influencer, rather than paid advertising. Choose who you promote carefully to retain your own good reputation too.
Run Your Own Business on Instagram
Once you’ve earned a reputation of being an effective influencer, you can promote your own products on Instagram too. In fact, celebs like Cristiano Ronaldo and Ariana Grande use their Instagram accounts for this purpose. You could build a brand for your business quite well if you do it right.
People who have been able to garner a large follower base have, in recent times, been also able to be influencers in varied industries, especially cryptocurrencies and blockchain technology. Marketers are looking increasingly to influencers to promote brands, given that the largest consumer population today, the millennials, give much more importance to peer recommendations than advertised content. So, go ahead and build your base. There are likely to be a plethora of opportunities waiting for you.