Instagram is an ATM machine in the palm of your hand -if you know how to use it correctly. The app has been around since 2010 but is still wildly popular with users and entrepreneurs alike. Instagram overcame Tiktok and other social media platforms in Q4 2021 to reclaim it's position as the #1 most downloaded app.
Tips for Earning Money on Instagram
Making money on Instagram falls into one of three categories: Being paid by your followers, being sponsored by companies or brands and being paid by Instagram itself.
1.Have your followers pay you directly
If you want to be paid by followers, your focus should be on helping your followers understand why they need the thing that you sell. Why should they care, and why should they buy this now ? Use every Instagram post as an opportunity to connect with your audience, and notice how many followers engage with you along the way. Over the years, Instagram has rolled out tools to help followers purchase from or tip their favourite creators directly within the app. Some of the most recent updates include:
- Instagram shopping,a feature that allows ecommerce companies to tag and promote their products from their Instagram shop directly in posts.
- Badges and stars , features in which Instagram users can contribute in the moment when a creator is live. Think of badges and stars as ways to tip your favourite creators who have the features enabled.
- Instagram subscriptions, a feature that allows Instagram users to subscribe to creators directly from the app.
These features make it easier to streamline how to make money on Instagram. Many people primarily use Instagram as a way to invite users to book an appointment with them or sign up for a workshop or service.
2.Get sponsorships, Paid partnerships and/ or Brand deals
You've probably seen posts before n Instagram that have the phrase "Paid partnership with -" under someone's name. These are examples of sponsored posts and sponsorships can come your way sooner than you think. When exploring how to make money on Instagram via sponsored posts it may make more sense to pursue long-term partnerships that include several posts or campaigns and fit in seamlessly with your personal brand. Long -term partnerships work much better than one or two pieces of content. It's important to remember that the job of influencers is to send their audience to your brand channels, whether it's your sales page, lead magnet or Instagram account.
3.Earn bonuses from Instagram themselves
Instagram( and it's parent company , Meta platforms) wants to compete with Tiktok. In an effort to tempt creators off of Tiktok and onto Instagram, Meta unveiled its bonus program. The $1 billion fund incentivizes creators to develop Reels and short form videos that attract lots of views and engagement. Reels a new Instagram marketing strategy that is separate from Instagram posts, Instagram stories and Instagram live videos.
If you're curious about how to make money on Instagram using this approach know that entertaining content will be the name of the game. To unlock these features from Instagram , you have to complete their application and confirm that you meet the eligibility requirements. Your Instagram account has to be an Instagram business account to be eligible.