With over one billion users, Instagram’s popularity continues to grow. Today, it’s not just a photo-sharing app, but a platform through which you can earn a fortune with the right strategies.
But it’s not as simple as it sounds.
There are prerequisites you need to take care of before you can monetize your Instagram account. These include:
Once you have these, then you can try out the following Instagram monetization strategies:
Sponsorship by top brands is one of the best ways you can monetize your account.
With this tactic, you need an engaged audience and a large following in a certain niche. Then you can reach out to brands directly or register with influencer marketing platforms.
Most of these influencer platforms allow you to join their influencer networks. If you pass their vetting process, they publish your profile on their search tool for all registered brands to see. A brand can then reach out to you if your profile fits their requirements.
With affiliate marketing, you get a commission for every sale made from promoting another brand’s products or services.
Just like sponsored posts, you need to promote products in a certain niche and those you truly believe in. This way, your posts come off as genuine, and you can get more followers to buy via your links or discount codes.
Do you have services or products you would like to promote?
Do it on Instagram. The visual aspect of Instagram allows you to post photos and videos, showcasing how your audience can use your products or services.
Leverage your bio to explain what you sell and include a link that directs customers to your website.
Do you want to get more people to click on the link?
Offer them a discount or freebies!
What happens if you want to expand your horizons and work with more brands?
Join an influencer marketing agency network. Most of these influencer agencies can help you connect with top brands if you register your profile with them.
Once a project that fits your profile comes up, they reach out to you. Doing this can help you to work with brands you may not have known of when searching on your own.
It also allows you to spend more time growing relationships within your audience, instead of spending time looking for brands to collaborate with.
As you can see, there are many ways you can monetize your account on Instagram.
But this list is not complete.
This infographic first published on ShaneBarker.com offers more ways you can make a fortune on Instagram. Check it out!
Shane Barker is a digital marketing consultant who specializes in influencer marketing, content marketing, and SEO. He is the co-founder of Attrock, a digital marketing agency. He has consulted with Fortune 500 companies, influencers with digital products, and a number of A-List celebrities.
