There are over 4.48 billion people worldwide who use social media. If you’re reading this, we bet you’re one of them. Even though the average amount
There are over 4.48 billion people worldwide who use social media. If you’re reading this, we bet you’re one of them. Even though the average amount of time spent on social media daily is about 2 and a half hours, it can feel like you’re on all day.
Since you’re going to be using social media anyway, why not make some money from it?
One platform we recommend monetizing is Instagram. There are one billion active users on Instagram alone so there are definitely enough people for you to build a community with.
In case you’re wondering about the benefits of monetizing Instagram, there are too many to list. Not only will you get another stream of income, but you might probably really enjoy it.
Monetizing Instagram is not just for young influencers. It’s for anyone at any age, any occupation, and something you can do from anywhere in the world. As entrepreneurs, if you’re not making money from Instagram, you’re missing out. You can monetize your personal account or your Instagram business account it’s up to you.
Excited yet? Here is our Instagram Monetization Checklist.
Instagram Monetization Checklist
Here are six things you can do to monetize your Instagram account.
1. Increase Your Following
Yes, the number of followers you have is just a vanity metric. That means the actual number is not the most important thing. Someone with 800 followers could make more money than someone with 2000 followers. However, if you have 10 followers then you can’t really reap the benefits of monetization with that amount.
There is no magic number. We can’t say get 1500 followers and you’ll make money.
Try to increase your following but remember that’s just the first step.
2. Focus on Engagement
Yes, having lots of followers is great but if they’re not engaging, you won’t reap many rewards.
So, what does engagement look like?
Engagement can look like people leaving comments under your pictures, liking your pictures, and sending DMs.
Through engagement, you can build a real community.
3. Be Consistent
Posting frequently will not only grow your following but can also help you get monetization opportunities. Posting every day will help you grow your following in the quickest time. However, that may not be efficient for everyone. Posting a couple of times per week can help you grow as well. Scheduling posts is a lifesaver.
Consistency also involves the content that you’ll post. Notice that brands and influencers not only post consistently but their Instagram feed has some sort of theme or fits in a category. For example, there are beauty influencers and brands focused on mental health. Niching down to a category will help you get brand deals, sponsorships, and relevant affiliate links.
It’s worth your time to come up with content pillars. That is 3-4 topics that you’ll create content around and recycle. If you’re creative, you’ll have an endless amount of posts that you can publish around these themes.
4. Join Affiliate Programs
Chances are you paying for a service or buying from a website that has an affiliate program. Some affiliate programs we know of and use are Quickbooks, Amazon, and Canva.
Curious about how affiliate programs work? The company will provide an affiliate link to you and when someone else clicks that link and makes a purchase, you get a cut of the sale. The consumer doesn’t pay anything extra, as a matter of fact, some affiliate links may even provide a discount for people who use your link.
You can research to find relevant affiliate programs and brands may even contact you.
5. Approach Brands
Becoming a brand ambassador and getting paid for sponsored posts are great ways to monetize your Instagram. While brands may contact you, you have the option of contacting them too.
Make a list of brands in your niche, particularly the ones you see are using influencers. Reach out to them and negotiate your terms once they respond.
6. Market Your Own Products and Services
Whether you’re a full-time entrepreneur or just have a side hustle, you can use Instagram to market your products and services. You can showcase testimonials, pictures of your product and of course, include relevant links so that your audience can purchase.
Be careful of only using your Instagram to sell, chances are people won’t buy. You will have to post things other than your products and services. Try posting something educational that relates to your product or service. In addition to that, you can post something that your audience would find motivational or inspirational.
When it’s time to make sales post, try using attraction marketing. Attraction marketing is really about providing valuable information about the product or service before you tell people to buy it.
There are many ways you can monetize your Instagram account and turn it into another stream of income. Work on growing your community and checking for opportunities are the best ways to start.
Share this with someone who you think could benefit from our Instagram monetization checklist
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