Gone those days when Instagram was considered a photo-sharing or social networking platform, it has emerged as one of the most notable ways to earn a considerable amount from the past few years.
According to the research by VPNwelt.com cybersecurity experts, if the data of Instagram Business is to be believed, 60% of users discover a new product on Instagram. 80% follow the page of at least one brand. Around 200 million users check a business account every day.
Wait! There’s more to it. An Instagram influencer can make $200 per post.
All these figures indicate that there are ample money-making opportunities on Instagram, provided you know how to grab and utilize them.
If you’re ignorant at this front then let us help you. In this post, we have summed up some of the most tried and tested ways to make money on Instagram. So, let’s get started.
Way #1 – Become an Influencer
Of course, this has been a tried & tested way to earn money from Instagram. For starters, an Instagram influencer is a person who has built his own Instagram community and shares some sponsored posts to promote a particular product/service. Instead of this, they get paid from the sponsored brand.
Businesses take the help of an Instagram influencer to reach out to the audiences directly and build a rapport. Money, earned this way, is highly fluctuating. While Kylie Jenner can make $1.2 million for a single post, some might be able to only hit the mark of $200. It is very important that you know your audiences and posts the content accordingly.
Pros
- It is a flexible and creative way to make money on Instagram.
- If you have managed to win the hearts of your audiences, success is a sure thing this way.
Cons
It is a time-consuming way. One has to work hard to build a huge fan following.
Pro-Tip
To taste success this way, you must keep on posting regular content. Figure out a niche and focus on it.
To speed up success, it is better to hire a social media marketing company. They can help you increase the followers’ list and manage the account perfectly.
Way #2 – Become an Affiliate
If becoming an influencer is not your cup of tea, try becoming an affiliate and start selling others’ products/services via your official Instagram profile. But, this too will work if you have a huge fan following. While influencers and affiliates seem the same from the surface, they are not.
Influencers are aware of the audiences of the product and encourage them to buy it. Affiliate marketers directly link promoted services/products and earn direct commission from the company’s side.
Pros
- It assures a fixed income, which is absent in the first option.
- It can be used as a long-term money-making solution. There is a lot of scope for expanding as you can link your Instagram page with your affiliating website.
Cons
- Just like the first option, it is too time-consuming. Also, one has to find loyal companies that stay committed to you.
- One has to dig deep into the links and conduct a thorough analysis to figure out the sales done so far. It can be too tedious.
Pro-Tip
To double up your sales, always have an affiliate website. Make sure that the Instagram-directed traffic lands on your website first and then to the affiliated product.
Way #3 – Make Your Own Store on Instagram
If you ever had a dream to start your own business, then do it today and promote it on Instagram. Many e-commerce businesses don’t own a physical or virtual store, yet they sell services and make money.
This is because they post their services/products on their Instagram pages and manage sales from there. Many famed influencers have taken this path and tasted success. As they already had a huge fan following, they didn’t have to work hard to build a customer base.
Some classic examples are model/influencer Alexa Chung, who created her eponymous high-end label, and Jeanne Damas, who owns a clothing brand named rouje.
But, if you don’t have a huge following, then don’t worry. You can still make it through. Just make sure that you’re doing proper Instagram marketing of your products and taking the help of some influencers.
Pros
- You save a massive chunk of money on building a website and maintaining it.
- It lets you have a direct connection with your customers.
Cons
Without an official website, customers take time to have faith in you. They can even consider you as fraud.
Pro-Tip
If you want to win the hearts of customers with an Instagram page, only then be transparent. Add details of your business and correspondence on the page. It is wise to post the reviews of existing or past customers. Make sure you’re constantly responding to customers’ queries.
Way #4 – Become a Reseller on Instagram
Launching your own product doesn’t seem as easy as it sounds. There are tons of hidden headaches and efforts. Not everyone is ready to take them. But, there is still hope. You can become a reseller of an already established international or local brand and sell their products. This way, you can save your neck for a whole bunch of hassles.
Oriflame is a classic example of such a business. Many housewives and professionals join hands with this cosmetic brand and sell its products. They don’t have to be worried about the manufacturing, packaging, and other stuff.
Pros
It is easy to start and continue.
Cons
There is no fixed income, and one has to work hard to build a customer base initially.
Pro-Tip
Try to get associated with a brand that has already gained some trust from the customers. This way, you will have to make almost half of the effort.
Way #5 – Use Instagram as an Added Opportunity
Those who are already committed to one organization and yet want to make some extra money can take the help of Instagram. You can have a freelancer-focused page on Instagram and start selling your skills. This works best for professionals like app developers, web admins, and graphics designers. They can fetch some lucrative projects from the Instagram community.
Pros
It is relatively easy because you sell what you’re already doing.
Cons
Managing time between full-time job responsibilities and part-time commitment can be tricky sometimes.
Pro-Tip
If you’re deciding to go for this option, make sure you initially set a limit for freelancing projects. Once you feel that your freelancing is fetching more money than a full-time commitment, it’s better to ditch the latter option. Don’t try to ride two boats at a time.
The Bottom Line
When used correctly and at its full potential, Instagram alone can turn into a millionaire. Many have already experienced it, and you could be next. All you need to do is pick- up the right path, work hard, and stay focused. Keep your expectations low as good things take time. Don’t forget to take expert advice and don’t be afraid of failures. With all these things, we are sure that you will touch the zenith. Good Luck!
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