How to make money on Instagram in 2020

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How to make money on Instagram
How to make money on Instagram

Making money on Instagram isn’t difficult but not as much easy as people thinks. As a Beginner, it requires Patience and Hard work.

Watching people earning millions of dollars from Instagram? Wondering how they are generating revenue? Want to make money online from Instagram?

If Yes, You Want to Earn Money From Instagram in 2020! then you visited the right place. in this article, we’ll discuss several ways through which many Instagrammers are making money.

Related article : How to make money Online without investment.

1. Become an influencer and make money from sponsored posts.

Sponsored posts is a popular way of monetizing your Instagram. There is no certain amount whatsoever. Different influencers charge different amount of money. It could be $200 to $5000 per post. It depends on the deal and understanding between the brand and the influencer.

A lot of influencers post sponsored content for a specific time period and then delete it. One of the best practices of monetizing Instagram is the use of a #sponsored hashtag in the sponsored content. So that it clarifies that it’s a sponsored content and the creator is paid for the promotion. A lot of Instagram influencers meet the brands through services like Famebit and BrandBacker and easily monetize their Instagram accounts via branded content.

In a survey of 5,000 influencers, around 42% said they charged $200 to $400 per post – Just imagine, how much the brands and companies are willing to pay, if you have an audience.

2. Become an affiliate and make money selling other people’s products.

Unlike an influencer, an affiliate is more invested in making sales for the partner brand—not just generating awareness—in exchange for a commission.

This is typically done with a trackable link or unique promo code to ensure clicks actually translate into sales. Since Instagram doesn’t yet allow links anywhere outside of your bio, you can only focus on one product at a time if you choose to rely on affiliate links, making promo codes a better option for Instagram since you can actually incorporate them into your posts.

Note: Instagram has plans to roll out links for Instagram Stories, which will open up new opportunities for you as an influencer.

Consider reaching out to one of the many online merchants that offer affiliate programs that you can participate in. Or you can also explore popular marketplaces like:

ClickBank: An affiliate platform with a tier-based commission that’s open to everyone.

RewardStyle: An invitation-only fashion and lifestyle influencer network that offers 20% commissions.

Amazon’s Affiliate Program: A popular option that pays out a 10% commission.

Though it sounds like a numbers game, affiliate marketing is also an art, and you’ll have a better chance at success if you have a plan going into it and expand your online presence to include a website and other marketing channels.

3. Sell ​​Your Own Products and Services

You can also sell some of your products, services or promote them. You do not need to go anywhere else. You can sell all your products or services with the help of Instagram. Also, you can promote your products using Instagram ads. So by this, you can increase or boost up your sales and make money by Instagram.

Upload the picture of your product you want to sell on Instagram and in the description provide the price, features and full detail of the product.

4. Sell your photos online or on things

Instagram is all about visual content. Photogenic products would sell well on Instagram. You can sell poster photos, paintings, drawings, animations, videos, and other image or video-based virtual products. On each post, refer readers to visit the link in your bio. This is another popular way that people make money from Instagram.

If you think you take high-quality pictures, there’s a chance that you can get paid for it. But don’t limit yourself with just your photography skills, explore other possibilities that enhance your pictures such as editing and composition. Use the best photo editing apps for phones to get the most out of the photos that you take. Try to be original when you’re taking pictures.

You can use Instagram to promote your photography portfolio using relevant Instagram hashtags.

5. Sell dropshipped products.

Drop-shipping is a popular way to sell the products without maintaining an inventory. If a sale is done from your affiliate link or from your Instagram followers list then products will be delivered from the warehouse to the customer’s doorstep.

As an Instagram user, you do not need to worry about storage place for products, packing and shipping the products to the end customer. Everything will be take care of by the warehouse.

There are many leading Dropshipping platforms like Shopify will help you to set your Dropshipping store easily.

6. Review of Product.

way of making money on Instagram is share review of products. In this way, you have to share a review of a product on your Instagram account.

The product you are reviewing, you can get a lot of money from the brand of that product. The more your followers, the more money you will be able to earn 

7. Sell ​​your Instagram Account

If you have a good number of followers you can sell your Instagram account at good price. Many people buy Instagram accounts for marketing or sales purposes.

The price of your Instagram account depends on the number of your followers. This means that the higher the number of followers of your Instagram account, the higher will be the price of your Instagram account.

There are some platforms like Fame Swap also available for selling or buying Instagram accounts

8. Sell ShoutOuts to new Instagrammers

There are people using their Instagram account just to sell shoutouts. You should know what they are by now, but just in case – they are basically a post about someone else’s account where you mention them in the caption with a “@username”. This is used by many people to grow their own accounts by either shoutout exchanges or just buying them from accounts a lot larger than theirs. So, there are of course people that sell them. Most of the people make money on Instagram using this strategy.

Depending on how big your account is, you can make a lot of money. You can get anywhere from $10 up to $1000 and more for just a post mentioning someone else’s account

9. Launch your e-commerce store.

By now, you’re probably thinking the only way for you to make money on Instagram is to collaborate with brands. But that isn’t the case. If you’re a product creator, Instagram is a great platform for you to market your products. Your products are an extension of you as a brand, so build a business around them with a focus on your audience.

By selling your own creations on Instagram, you don’t need to worry about integrating brand messages into your posts. The only brand you need to worry about is your own. You can incorporate a link to your e-commerce landing page in your bio. Better yet, utilize the Shop Now advertising button that Instagram added to help e-commerce businesses.

You could use print-on-demand services to print and ship merchandise like T-shirts, coffee mugs and wall art. Fashion and health businesses are particularly famous for using Instagram as a marketing platform for their e-commerce stores.

Master & Dynamic is a good example of a store making the most of Instagram to market its audio tools. The link in its bio redirects you to its product catalog.

10. Growing your email list

This is something you should do regardless of the way you’re monetizing your account, however there are people that use their account with this tactic. I use Aweber as it is one of the best email marketing platform.

It does require some skill and knowledge though. The idea is simple – create an email list of people interested in certain products (your niche). You can use that list to sell your own product or become affiliate to other products and sell them. You can continue selling to these people over and over again, especially if you create a strong connection and they trust you.

11. Create content for others to make money on Instagram

First things first, you need to switch to a business account. I will explain later in this blog why it is necessary. Before you start posting content, you need to select a niche. Suppose you choose photography as your niche, you can post your amazing photos on your page which will eventually help you grow. All you require is a nice camera and you’re good to go. Depending on your first 10-20 photos people will decide whether they will follow you or not.

Keeping that in mind you should always make sure you post your best work. You can even use editing software like Adobe Photoshop to make your content look even better. Always keep a consistent theme with beautiful colors that match up. Additionally, the post should tell the story behind to the audience. People tend to follow you if you provide value. You need to be sure of what you want people visiting your profile to see.

12. Account management

Yes, you read it completely right.

If you have zero experience in marketing or business, just commence your journey by offering Instagram management services to other businesses or accounts in your industry.

The reason you want somebody within your industry is that you’ll get enough experience in one particular house and then, you can use that one skill to make a difference.

On the other side of the table, if you don’t do this service in one specific niche, you’re likely to remain mediocre instead of an expert.

But you actually can make it up with both the options for a good start.

Well, you kinda get the point.

Some Fatcs

For business purposes, the following figures are worthy of consideration for people who want to make money with Instagram:

1) 1 billion users are active every month. That’s almost three times the US population.

2) 500 million users are active every day. That’s almost double the US population.

3) In 2017, 70.7 percent of US businesses use Instagram. With 30 million businesses (both large and small) in the USA, this number translates to 21 million US businesses using Instagram.

4) 80 percent of Instagram users follow at least one business account. This translates to 640 million users following at least one business account.

5) There are 2 million Instagram advertisers every month

6) Time spent on Instagram increases by 80 percent every year.

7) In 2016, 48 percent of US brands used Instagram to promote their businesses. In 2017, that number reached 71 percent. In 2018, it’s expected to reach 82 percent.

8) 300 million Instagram accounts use Instagram Stories every day.

9) Instagram users by age:

  • 18 to 29 years old: 59 percent
  • 30 to 49 years old: 33 percent
  • 50 to 64 years old: 18 percent
  • 64+ years old: 8 percent

10) Instagram users by gender:

  • Female: 38 percent
  • Male: 26 percent
  • Other: 36 percent

11) Instagram posts with location tags get 79 percent more engagement.

12) Photos with faces get 38 percent more likes

13) User-generated content has a 4.5 percent higher conversion rate.

How much money we can earn from Instagram?

There is no limit for earning money on Instagram. The more you be active and engage with your followers the more offers you get from brands.

Earnings of some famous celebs from Instagram

Kylie Jenner- $1.26 million per post (8.96 crore INR)Virat Kohli– $120,000 (85.3 Lacs INR) per Instagram post. 
Cristiano Ronaldo- $975,000 (6.93 crores INR) per post
Priyanka Chopra– $271,000 (1.92 crores INR) per post.

So these were some of the ways by which you can make money from Instagram. Hope you understood how to earn money by Instagram. If you have any doubts regarding how to earn money on Instagram comment below I will solve your problems.

For more interesting ideas and knowledge visit menwithquote.

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