If you find yourself struggling to save the money for your family vacation or home renovation, consider leveraging the platforms you already use regularly, like Instagram. Instagram has grown to become a lucrative way for the average person to create an additional (or even primary) revenue stream. Instagram is no longer a basic photo-sharing application.
With the birth of Instagram influencers, there has been a rise in people interested in learning how to make money on Instagram.
And the best part is, you don’t need to have thousands or millions of subscribers. Nanoinfluencers and microinfluencers (social media users with low follower or subscriber counts) are becoming increasingly desirable to brands and agents. To help you on your path to success, here are five ways you can start making extra money on Instagram:
Post Sponsored Content
To make extra money on Instagram, you have to become an influencer. This means that you need to build relations with your audience and gain their trust and loyalty. Once you’ve acquired a following, you can just be an influencer marketing platform to connect with paying brands who will offer money in exchange for sponsored content. Companies are willing to give you money because they know that when your audience trusts you, they will trust the products that you’re promoting, and are therefore more likely to make a purchase.
Make It Easy for Brands to Reach Out to You
Brands will reach out to you when you’ve become a recognizable Instagram influencer with solid content and a consistently growing follower base. The goal is to make it easy for these brands to reach out to you and to put yourself in a more discoverable position. In addition to joining an influencer marketing platform, you should also create a media kit, website, and include the URL in your Instagram bio.
Become an Affiliate or Brand Ambassador
Unlike posting a one-time sponsored post for a brand, becoming an affiliate is when you, as an influencer, partner up with a brand and generate sales for them in return for a commission. To ensure that your affiliation does generate sales for the brand, you need to choose the brand you’re partnering up with wisely. For example, there are many companies that have brand ambassador programs.
First, pick out brands that you are most interested in. Would you purchase this brand’s products or do you already own their products? Your promotion should come across as natural, so it’s important that you demonstrate a genuine interest in the brand that you’re considering becoming an affiliate or ambassador for. Then, be sure to go through your Instagram analytics reports to understand the demographics of your audience. How does your audience align with theirs? Align the different brands and compare which goes best with your audience’s demographics.
Sell Virtual Products
Don’t just stop at sponsored content and affiliate sales. To make extra money on Instagram, you can also choose to sell virtual products that align with your genre of content. The best part is that unlike a physical product, this strategy doesn’t need much investment. These products can be anything from digital art to animated content. Post your content on your stories and on your page.
You can even sell off aesthetically-appealing photographs that you take in your day-to-day life. The important part to remember in this strategy is that you never know what people will buy, so make sure to carry out thorough research before going all in. Consider e-books, virtual classes and workshops, and coaching services.
Sell Physical Products
With each update, Instagram is making it more convenient for influencers to set up shops for their products, such as the Instagram Shop. Don’t let this feature go to waste and start designing products of your own. Whether it’s a line of graphic tee shirts or art products, physical products can go a long way towards building your revenue.
If you have a large and loyal fan base, your merch will sell because your followers will be happy to support you. To make this easier for yourself and your audience, you can switch your account to the Instagram Creator Account, which allows you to post shoppable content. This way, users can click on the link within a post and purchase the linked item on Instagram.
Promote Yourself Through Different Applications
Within the Instagram world, everything is integrated. The final strategy to make extra money on Instagram is to use other social media platforms, such as TikTok or Twitter, to promote your account on Instagram.
This will allow a larger stream of people to gain exposure to your account on Instagram. It’s the perfect way to build your audience and, thus, promote everything that you are selling on your Instagram page to a larger audience. To maximize this strategy, make sure that you already have sponsored, affiliated, or shoppable content posted.
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