How To Monetize Your InstagramVerified Influencer
How To Monetize Your Instagram
There are over half a dozen ways to monetize your Instagram. Any initiative that helps you to make some money by capitalizing on your Instagram following and your posts is basically monetizing your social media presence. Before you think of or can start monetizing your Instagram account, you need a sufficient following and considerable engagement with your followers. Else, every strategy will fail. Most experts say that ten thousand followers is a good foundation to start monetizing an Instagram profile. Here are six ways you can make money with your Instagram account.
How to Monetize your Instagram with Affiliate Sales
Affiliate marketing is one of the most common ways people make money through Instagram. Users plug chosen products and at times services too. When their followers click on the links and get redirected to the affiliate sales pages, they may or may not buy a product or sign up for a service. Depending on the arrangement or terms of the affiliate marketing agreement, the owner of the particular profile or the influencer, as these users are referred to, get paid a proportionate commission. Sales can generate commissions ranging from ten to fifty percent of the value of the product, or service. Clicks or views can also generate a commission, but it is nominal.
How to Monetize your Instagram with Brand Endorsements
The most common method of monetizing for celebrities on Instagram is brand endorsement. This works in the same manner as conventional brand endorsements worked, say for television commercials, print advertising and billboard placements. Celebrities endorsing a brand and its products or services get paid per post. There are incentives based on the engagement, or the interaction that happens after the post is live. Not all influencers would qualify for brand endorsements, and celebrities will obviously earn much more than those with a smaller following. However, influencers with more than ten thousand followers are now on the radar of most brands.
How to Monetize your Instagram with Sponsored Content
Sponsored content is similar to brand endorsements, but with differences. While brand endorsement is an outright presentation of a product or service as desirable and superior, sponsored content is not so much on the face of the followers. A sponsored content can be subtle. It could be an image, an info-graphic, a video, or a series of posts. It is not always obvious that a particular type of content is sponsored. Many companies nowadays rely on user generated content and sponsor the same. So, an Instagram influencer gets to create their own content for a particular brand and get paid for it.
How to Monetize your Instagram with Video Product Placements
Video product placements are a contemporary version of television commercials. Instagram influencers generally share a lot of images and videos. Products can be placed within the frames of those pictures and videos. The companies owning these products then pay a commission to the influencer. The same can be done with services too. Instagram influencers photographed or videographed using a certain service can qualify for a commission from the company. However, all such terms are agreed upon prior to the placement of products or services.
How to Monetize your Instagram with Products or Services
Instagram influencers need not be confined to selling products or services owned by different brands. One can sell their own products. These can be self-branded or unbranded. Services can be offered via Instagram, whether it is virtual coaching or counseling, some type of entertainment or live performance, among others. Such services can be charged for on an hourly basis, per show or voluntarily payments by patrons. The latter has already become the norm for many channels on YouTube.
How to Monetize your Instagram with Exclusive Content
Last on this list, but certainly not of least importance, is exclusive content. An Instagram influencer can always try to convert the followers to subscribers. Operating a channel to produce and broadcast exclusive content can be viable monetization of Instagram. It is not always necessary to product videos of adventure, games and reviews. Influencers can produce any type of video, from home cooking to stepwise instructional guides. If an influencer is trusted by their followers, multiple methods of monetization can be explored simultaneously.