There is no doubt that running an online business can be rewarding. However, it also comes with its own challenges. It takes a lot of effort to start a business of any kind.
The Internet is essentially a way for businesses to connect with consumers. Global communications are made possible through the use of this highly effective tool.
Matching the right customers with the right products is the key to creating a successful business. Apart from online businesses, influencer marketing is another popular trend reaching the pinnacle of glory these days.
We all have our favorite influencers list who we look up to on an everyday basis, be it for outfit inspiration or interior design.
Perhaps you have even thought, “Maybe I can become an influencer one day”. But is that a profession? Can people really make money through Instagram?
Bloggers, YouTubers, and anyone who has built a following around their content already understand the importance of influence and reach.
Just like that, Instagram is not just for passing time; it can also generate passive income for you. It offers a number of methods to earn money, including selling merchandise and becoming an influencer.
Table of Contents
Can you make money through Instagram?
Our guide will not only show you how to make money on Instagram but also how to dramatically increase your online presence.
First thing first, make sure that you have a steady internet connection for updating content and connecting with your followers at all times.
This is something crucial and should not be compromised. Now a steady and reliable connection does not necessarily mean that you have to get the most expensive internet service in the country.
Many internet service providers are affordable, yet amazing with their offers and plans. Spectrum ®, for instance, is a great option as the rates are quite low with decent speeds.
Getting back to the business, there are three main ways to make money on Instagram:
1. Go For Sponsorships
There is undoubtedly a lot of talk about influencers these days, as we mentioned earlier. Who are these people?
An influencer is someone who shares content through social media handles, and they’ve built a reputation over time. People view them as trendsetters and experts.
They are respected for their thoughts and opinions about certain things and topics.
Since many brands are not able to keep up with that, they sponsor these influencers to promote their services and products.
Sponsored content includes pictures, stories, and now reels. The brand does not just care about the influencer’s follower count and reach on Instagram; it cares about the trust and engagement they have with their audience.
The balance between earning revenue as an influencer and maintaining your honor as a creator can be challenging.
Nevertheless, you do not have to be hard on yourself. If you do not count on Instagram marketing to support yourself, you always have the freedom to choose which brands to work with, just as brands choose which Instagrammers to work with.
2. Sell On Instagram
You can make money through Instagram in other ways as well. Creating a business account will help your business grow.
A professional-looking Instagram account could increase advertising returns for a food or apparel blog just like any other online platform.
The simplest way to get started with this is to feature one product in your Instagram bio section or link to your Etsy (if you have any) store in your profile to attract more customers.
Your merchandise can be promoted directly on Instagram if your account is approved for Shopping features.
Pro Tip: Use attractive photos and captions to present and describe your clothes and other things. You should take note of the size, color, and description of each item. In the bio of your Instagram account, add a link to a specific item you are interested in selling.
3. Get your content monetized
Lastly, you can get rich through Instagram by running in-stream video ads. These ads allow brands to promote themselves within your videos.
According to Instagram, the number of “Monetizeable Plays” your video receives determines your earnings. Your bank account will be credited with 55% of the ad revenue made from each view.
You need to be very careful when it comes to meeting Instagram requirements. For instance, if a requirement for a campaign is 4-5 pictures, you cannot just put up one picture and expect the money. Similarly, if a video is supposed to be of at least 3 minutes, it has to be of 3 minutes.
Influencers and brands, especially those in the entertainment and fashion industries, have found success on Instagram thanks to its business potential.
If you have a fan base, your earning potential is limitless. Posting quality photos with relevant hashtags, engaging with your followers, selling stuff on Instagram, and monetizing your content are easy ways to grow your fan base if you are creative.