With 2 billion users globally, Instagram has undoubtedly become one of today’s biggest social media powerhouses since its launch in 2010. In fact, it’s the fourth most popular social media app. In the Middle East, around 63 million people use it, with the region boasting some of the world’s most important Instagram markets led by Türkiye. Do you want to make the most of this platform? Here’s a quick guide on how to monetize Instagram.
What it means to monetize Instagram
Simply put, monetizing Instagram means making money through your Instagram account. Since the social media app is a massive — and constantly evolving — platform, it means you can enjoy several ways to earn through it (more of this in the next section).
Before discussing these methods, it’s important to recognize Instagram’s potential for generating revenue, as highlighted by key statistics.
About 90 percent of Instagram users follow at least one business account, demonstrating the platform’s effectiveness in connecting users with businesses. Additionally, 83 percent use Instagram to discover new products or services, while 81 percent rely on it for product research. Notably, 80 percent of users make purchasing decisions based on information gathered from Instagram.
10 ways to monetize your Instagram content
Start tapping into Instagram’s revenue-generating prowess with these techniques.
1. Promote your business
Before promoting your business on Instagram, ensure you have a trade license first. Now, when it comes to leveraging to reach more of your target audience, it’s essential to post, maintaining a uniform aesthetic. Keep in mind that Instagram is a highly visual platform, so you can use it to promote images and videos of your offerings while reinforcing your brand identity.
Take advantage of Instagram features like link stickers on Stories to drive sales to your business. To keep your audience engaged, make sure to be responsive, converse with them and offer them incentives and giveaways.
2. Sell via Instagram Shop
To make selling products easier for businesses, Instagram has rolled out Instagram Shopping. It offers a smooth shopping experience, allowing businesses to direct product sales through interactive posts (i.e., posts with clickable links). The link will take the user to your Instagram shop where they can find more details about the product and another link to your e-commerce site. Some accounts are eligible for Instagram Checkout, which lets buyers purchase from you without leaving the app.
These features, combined with compelling visuals, are a powerful way to boost your sales and your profit.
3. Collaborate with brands
The global value of influencer marketing, one of the most popular forms of online marketing today, is currently $21.1 billion. Especially if you’re a content creator or influencer, working with brands is one of the best and most advantageous ways to monetize your Instagram account. One major reason is that it grants you more liberty.
By taking the initiative to reach out to brands, you can actively negotiate campaign terms and fees, enabling you to secure numerous brand deals, like sponsored posts. In this method, you showcase a brand’s product in your posts, and in return, they pay you. To succeed in this, having marketing expertise, creativity, a loyal following and good relationships with partnering brands are all crucial.
4. Join an affiliate program
To make money as an Instagram affiliate, first, identify brands and products aligned with your niche and audience. Next, search for affiliate programs with attractive commission rates and a good reputation. Apply to become an affiliate partner by providing information about your Instagram account, audience demographics and engagement rates. Better figures increase your chances of approval.
Once accepted, you can start promoting affiliate products by sharing engaging content such as images, videos and reviews with your followers. Create attractive — and authentic — posts highlighting the benefits and features of the products you endorse. Don’t forget to include your affiliate links in your posts, stories and bio, and be transparent about earning a commission when someone purchases a product through your link.
5. Go live and earn badges
On Instagram, you can enhance your connection with your audience all while boosting your earnings by going live. Whatever the content is (granted that it doesn’t violate any community guidelines), your viewers can show their support to you by buying badges. There are three price tiers: $0.99, $1.99 and $4.99. Think of badges as online gratuities.
However, note that going live is just one piece of the formula here. To gain viewers (and earnings), you must generate buzz for your Instagram Live. Make an announcement, tease what you’re going to present and invite and instruct your followers on how they can purchase badges.
6. Offer merchandise or digital downloads
Apart from advertising others’ products on your Instagram page, you can venture into entrepreneurship yourself and promote your own products. While physical merchandise items such as shirts and mugs remain popular, others opt for digital downloads, which are more cost-effective. You can offer online courses, templates, photography and cheat sheets to your Instagram audience, informing them how they can avail of your products.
Read: Why monetize content on social media: Shopping in the digital age
7. Use your account as a digital portfolio
Apart from products, you can also advertise your services via Instagram. Many creatives thrive using this method because, as mentioned, Instagram is a visual-heavy platform. For example, if you’re a videographer or a graphic designer, you can use your Instagram page as a digital portfolio to showcase your work, reach out to prospects and score clients.
This technique can also be used by many other professionals. For instance, if you’re a social media manager or a business coach, you can post case studies, highlight past projects and share customer reviews to boost your reputation and win clients. You can further strengthen your credentials by uploading educational content.
8. Sign up for subscriptions
Got a dedicated fanbase of at least 10,000 followers? Instagram offers a Subscription program that lets you maximize how you monetize your account. By signing up, you can set personalized monthly rates and invite your audience to subscribe to your account. Once subscribed, they can gain access to exclusive content and perks.
This feature allows content creators and business owners like you to provide premium content and more benefits, serving as rewards to the most engaged audience members. In the process, you foster a deeper and more sustainable connection with your supporters.
9. Promote other monetized channels you have
Instagram does provide many monetization options. But beyond those, the app serves as a valuable platform that lets you promote your other sources of revenue. These can range from podcasts to YouTube and TikTok. You can cross-promote your content, inviting your Instagram followers to check out your other (monetized) channels. Don’t forget to put the link in the bio section of your account for easier access.
10. Build a mailing list out of your followers
While monetizing Instagram is a potentially great way to earn more, the fact remains that you’re making a profit out of a borrowed audience — one that is owned by Meta (the parent company of Instagram and Facebook). However, you can use your Instagram followers to your advantage. Encourage them to subscribe to your emails, and from there, more possibilities await when it comes to generating revenues. You can offer exclusive deals or affiliate links, for instance.
Remember: Social media marketing is just one part of the story. And email marketing is another channel you must not neglect. According to Content Marketing Institute, about 7 in 10 marketers use email marketing to promote their content. And for good reason. There are 4 billion email users globally and email generates an impressive return on investment: $36 to $40 for every $1 you spend.
Tips for monetizing Instagram
When using Instagram to earn income, bear in mind that it won’t be an overnight success. Patience is key, but you can follow these best practices to help you hit your goals.
- Opt for an Instagram Business Profile or Creator Profile. Either type of profile lets you access more features such as insights and content scheduling.
- Build a solid following. To thrive on Instagram (or any other social media platform for that matter), having a genuine and committed audience is important. Craft compelling content that matches your audience, and reach more people using relevant hashtags.
- Offer value to your audience. One key thing about social media, especially in the entrepreneurial sense, is to not make it always about you. Mix product and service promotions with informative and entertaining content.
- Engage, engage, engage. You can further nurture a sense of community by engaging with your followers. Interact with them and respond to comments and direct messages. The goal is to make them feel like they’re talking to a human.
- Track your performance. Utilize analytics tools to track post performance, understand audience preferences and fine-tune your strategy.
Final thoughts
In a digitally driven world, Instagram is one of those standout social media apps that not only connects you with people but lets you earn revenues as well. But to monetize Instagram, you need a strategic approach. The tips above — coupled with tons of creativity, great communication skills and patience — will help you unlock the platform’s full potential.
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