Instagram is no longer just a social platform to interact with your friends and family and share pictures. It’s a massive business hub that has great commercial value. A study suggests that Instagram will have around 112.5 million daily active users by the end of 2020.
Recently, Instagram has been flooded with influencer marketing and blogging. This upsurge has attracted businesses to Instagram since they lack the reach and influence that these Instagram celebrities have.
In today’s blog, we’ll talk about how you can leverage your following of a few thousand to help create a steady income stream.
Due to consumers’ natural purchasing behavior, brands are forced to interact with Instagram influencers to promote their products. They play a good amount of commission per post and story to familiarize them with their brand.
If you have decent enough followers, you can start partnering up with local brands and companies to sponsor their products.
You can post visually appealing photos of the product with a concise and clear caption that could provoke visitors to check out the product. The link to the product can be provided in the bio of your profile.
Many big brands and companies prefer extending their influencer marketing ventures by hiring a brand ambassador. These brands have much bigger marketing needs, which can not be catered through only sponsored posts.
Since Instagram is the preferable choice of Influencer marketing platform, it’s perfect for reaching out to brands with your Instagram following and propose a long-term business relationship.
May brands will make you sign a contract in the beginning for a set period of collaboration. They may also send you products frequently to review and publish on your Insta posts and stories. On average, a brand ambassador can easily make up to $40,000 to 50,000.
Users can earn a lot of passive income through their Instagram accounts by embedding affiliate links in their stories and Profile bio description. Partnering with affiliate networks and publishers will help you generate a steady income through commissions on each sale.
You can earn up to $70K every month with affiliate marketing on Instagram. Since many networks require a large number of fans and followers, Instagram can easily help you qualify for these Affiliate programs.
Though its tough to directly sell products and services through Instagram, you can partner with third-party eCommerce platforms or websites to lead your followers to products featured on other sites online.
Most Instagram users are consumers who use the network to discover new businesses and buy different products.
Instagram Business Account now features the Shop-buttons and price tags that visually appear on your posts and pictures to help consumers make a quick purchasing decision on the spot. It also offers in-app checkout options to make shopping easier for users.
Instagram provides the perfect sales and marketing opportunities to both big brands like Michael Kors and local businesses.