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Over 200 million Instagram users visit business accounts each day. That means anyone who has an account gains access to a gigantic pool of users interested in spending money on products they see on their feed.
Thankfully, there are several different ways users can get involved in this lucrative money-making mobile application. Take a look at these three different paths toward success to start making cash on Instagram.
Sell Your Products
If you own a business or plan on owning one, Instagram is one of the best marketing tools available to you. Instagram allows you to market your business intuitively.
All you need to do is take a few minutes to open your own business account and start engaging with the community. Once you open up your account, these tips will help you get started.
Advertise on Instagram
Instagram lets businesses purchase ads on their app. These ads are highly effective because they target your ideal customer and show up on their feed as they scroll through content.
Your products have the potential to reach the eyes of thousands of potential customers through photo ads, Instagram Story ads, and more. While this process is a financial investment, you’ll see your engagement rise quickly.
Giveaways are a simple way to gain attention for your brand. By encouraging people to follow your account and engage with your posts, your giveaway’s financial loss will pay off quickly with more engagement and more followers.
Use the Instagram Shopping Feature
Instagram Shopping is Instagram’s version of a digital mall. This feature allows users to browse products based on their interests. Not only is Instagram Shopping an easy way for you to target potential customers, but it’s also a simple way to sell products. Users who want to purchase something may do so straight from the app.
Become an Influencer
As of 2019, there are around 500,000 Instagram users who label themselves as influencers. While this may seem intimidating, don’t get discouraged. Anyone can become an influencer with enough drive and ambition. Take a look at this social media influencer advice to help you jump start your influencing career.
Influencers gain more lucrative opportunities depending on how many followers they have. If you’re starting your account with zero followers, make sure you stay patient.
Building engagement is an unpredictable process. You might be stuck with a few followers for a while, or you might gain thousands of followers overnight from a viral post. Despite the volatility, it’s vital to grow your following organically and take time to communicate with your followers.
Once you build a decent following of a few thousand followers, you can call yourself a micro-influencer and start accepting sponsorship offers. A typical influencer with around 100,000 followers can make approximately $1,000 per post.
Once you build a following, start accepting offers for sponsorship. These are high-quality posts that focus on a particular product or service—the one you’re sponsoring.
This is a win-win process for influencers and the sponsor. Businesses gain traction and influencers get paid for the sponsorship.
Mastering How To Make Money on Instagram
Whether you chose to become an entrepreneur or an influencer, you’re on your way toward success and extra income. Knowing how to make money on Instagram is the first step in your social media marketing journey, so continue to build engagement and see your income gradually grow with time.
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