Instagram is one of the largest social media platforms out there with over 1 billion ACTIVE users. That’s insane. Instagram is a place where you can express your love and passion for photos and short videos. Even if you aren’t a photographer, Instagram is crucial for growth within upcoming companies in the new generation.
Instagram has grown so much that there are pages out there with tens of millions of followers. All these page owners do is present their page in a way to stand out, and be consistent with everything. But the question is, do they know how to use their followers to make money on Instagram?
Related Article: The Complete Instagram Guide 2021
How many followers do you need to make money?
Many people think that you need hundreds of thousands of followers to make passive income on Instagram, this is completely wrong. You can make money on Instagram with as little as 1,000 followers. Let’s be honest here, yes the more followers you have, the more money you can make, but who’s to say you can’t make some extra cash in the meantime?
Here are some factors that matter when you wish to make money on Instagram:
- How engaged your followers are: You could have 100k followers, but have low engagement. Only amateurs will pay you for advertisements and promotions here. Just like you could have 3k followers, but have a loyal fan base. You’ll see a lot more engagements here. So make sure your audience is engaging. To make sure your audience is engaged, you must also engage with them. Click here to learn more.
- What niche you’re in: Can you directly link a product to your niche? Is your niche too saturated? These are things you should consider. We don’t want you to completely avoid entering a saturated niche but maybe come in at a different angle. Other people will just go straight to the big pages for shoutouts and promotions.
7 Ways To Make Money On Instagram
1. Sell your own merchandise
Of course, this had to be number one. If you have an audience, the first thing you should be doing is selling your own merchandise. This could potentially be one of the most profitable ways to make money through Instagram since you’ll receive all the profit yourself. Although, if you have an Instagram page for cute dogs, it’s probably not a good idea to sell your fitness equipment through it. Make sure it’s relevant.
If you don’t have a product, why not make one? Or dropship one? If you’ve got the page there with engaged followers, selling your “own” products through it is an excellent idea.
Note: If you’re selling homemade products, you’ll be held responsible for any legal, medical, or physical issues. Make sure you have all the necessary licenses and that your products have been thoroughly tested.
2. Sell your own service
The very reason you’ve managed to grow your page, means you have a skill others would like to learn. If your page is about your electrician company or something of the sort, you’re already selling your service. Just push it a little more if you aren’t making clients. If you think you have no skill of value, you’re wrong.
Here are some ways you could sell your service.
- Offer a paid course to teach others a skill.
- Include a link in your Instagram bio to your website where the course/service is sold.
- Offer limited-time discounts on your service on some posts.
- Advertise your skill through your photos and videos. Showing some results. This is self-advertising without being too direct.
- Use your platform to connect with other users who offer similar services to exchange tips and connections.
People are making thousands, and sometimes millions through services such as online courses. Don’t get left behind!
3. Promote someone else page
This method is probably the easiest. You’ve all seen it when someone gives someone else a “shoutout”. This is essentially promoting someone else’s page. Thousands of people are making big banks every day by just giving shoutouts. It takes about 2 minutes of your time, and then you’re done with it. If you have a page of say 100k, you could even charge up to £1000 per shoutout… if not more. The numbers are insane. The main purpose of a shoutout is to grow their Instagram account so then they can do the same thing. They’ll look at it as an investment.
Here’s a popular shoutout package:
- 6-hour post = £X
- 12-hour post = £X
- 24-hour post = £X
- Story post and feed = £X
And so on, and so forth. If you’re smart, you could actually select the 6-hour slot which would be cheapest, but ask to put it up at the most popular time. Of course, this would take a little bit of analyzing the page, but it depends on how much hustle you’ve got inside you.
4. Sell affiliate product or services
Affiliate links are based on people using your link to go through to a website. The more people the link is exposed to, the higher chance of people using it. Instagram allows you to input tracked links in your bio, as well as all your posts.
For every user that clicks on your link, you get paid a commission. In some cases, you’ll get paid a percentage if they purchase. This is called, “affiliate marketing”.
Here are some strategies to optimize your affiliate marketing:
- Shorten the link using a link shortening website such as Bitly.
- Only use hashtags that relate to the product or service. Don’t spam.
- Use a referral code on the post if one is available. You could even make the code funny to catch user’s attention.
- Related Article: What is affiliate marketing?
5. Advertise someone else’s business or product
This is kind of a mixture of affiliate marketing and giving someone a shoutout. The reason I’ve given this one its own category is that there are more possibilities here. Usually, a business will pay you more compared to an Instagram user. You could also set up an agreement to get your own referral code so you even get a commission from your audience when they buy.
This is how these posts work:
- You’ll be asked to share your experience using the company’s product or service, as well as taking a photo or video and posting it.
- You may repost one of the company’s existing posts onto your page.
- You will put the product/website on the post so your audience can click straight through.
Related Article: How to build a website?
6. Use Instagram to grow your other platforms
Just like you can send your audience to other people’s pages and websites, you can also send them to your other platforms, such as Facebook or YouTube. If you’re making money from home on other platforms but want to make more, figure out a way to get your audience over to that platform.
Here are a few methods you can use to get your audience over to another platform:
- Offer a giveaway on your other platform, but advertise it through Instagram.
- Upload an engaging post with a link to your other social media marketing accounts.
- Leave the link to your other media in your bio.
- Simply ask your followers to go support your other media. More than likely, they will because they’ll want to see more of you.
7. Sell your Instagram photos
If you’re interested in photography, you’ll like this one. Instagram is all about photos and videos right? Well, people are making a living selling their photos through Instagram. You don’t even need a large following to do so either.
If your photography skills are up to scratch and you’re confident enough someone would buy them, here are a few methods you could use to sell your photos.
- You could sell a print of your art to your followers for a fee.
- Setting up has never been easier. You can build a Shopify website within just a few days. They allow you to subscribe to their service and allow you to sell through their website.
- You can print your photos on merchandise such as custom mugs or even sell custom T-shirts.
- You could reach out to companies on Instagram and offer your service (photography). PLC and LTD companies are always looking for licensable photos.