Twenty years ago, it wasn’t possible to make a living through social media. Let’s be honest – social media didn’t even exist. But now? There are millions, if not billions, of dollars to be made through social media. While Facebook, Twitter, and even LinkedIn can be used to earn some extra cash, Instagram is potentially the best social media platform out there to generate a decent amount of money. Depending on how many followers you have, there are a handful of strategies you can try to convert your Instagram account into another source of income.
If you’re looking to monetize your Instagram account, here are five easy ways to make it happen:
Try your hand at affiliate marketing.
Affiliate marketing lets you promote a product, company or brand through social media in exchange for a small percentage of whatever sales you generate. If you’re new to affiliate marketing, Amazon’s affiliate program is a great way to get started, largely thanks to the huge number of products you can choose to promote. Feature your favorite water bottle, dog food or pair of shoes on your Instagram account and include a special affiliate link to the product for sale, and voila – you’re in business.
Sign up for some sponsored posts.
For sponsored posts, advertisers typically pay you a flat fee to share content on Instagram to promote their product – whatever that may be! While you may not command the kind of cash that big-name celebs like Kim Kardashian earn through sponsored posts, you can still pocket some money from your efforts. A common rule of thumb is that you can expect to earn one cent per follower, so an audience of 10,000 would earn you around $100 – a respectable amount for a social media post!
Direct viewers to your online store.
Instead of sending your audience to purchase stuff from other people, why not sell your own product? Whether choose to sell custom t-shirts, artwork, or another physical good, Instagram can be a great place to spotlight your stuff and drive traffic to your website, where people can purchase your wares. If you’re intimidated by the idea of building your own online shop from scratch, consider a platform like Etsy.
Build a lifestyle brand.
Social media has given rise to the concept of the lifestyle brand, and Instagram has become the ideal platform to allow your brand to come to life. Lifestyle brands can be incredibly versatile, offering individuals opportunities to truly tap into an audience’s emotions and encourage investments in both products and services. Instagrammers associated with strong lifestyle brands can often secure sponsorships from brands on a mission to reach their well-defined audience.
Become a social media consultant.
Companies and individuals around the world are coming to realize the importance of Instagram and other social media in their business strategies. Many have come to rely on social media consultants to come in and help develop strategies around Instagram, Facebook, and other platforms. If you’ve developed a large following and think you have some valuable advice to share with others, this could be a great way to turn a profit.
From sponsored posts and affiliate marketing to using Instagram to build your lifestyle brand, there are a variety of ways you can monetize this social media platform. Have you had any luck earning some cash through your Instagram account? If so, what has worked well for you? Leave a comment and let me know!