Whatz Up Pup: How to Make Money on Instagram

Instagram is a disruptive ecommerce force, unlike some other social media networks. While it was first intended for photo sharing, it’s now a business platform, which can be used by anyone, including dropshipping ecommerce business owners.

You may be thinking to yourself: how do people make money on Instagram? How does selling on Instagram differ from other types of ecommerce business?

In this article, we’ll discuss in-depth tactics that you can implement immediately, so you too can earn money from Instagram.

Can You Make Money on Instagram?

Yes, you can definitely make money on Instagram.

The enthusiasts of this social media platform are always looking out for new ways on how to earn money from Instagram.

Now you might be thinking: right, I get that it’s possible, but how exactly can I be making money on Instagram?

Don’t worry, we’ll unravel the mysteries of how people make money on Instagram in detail, but let’s first take a look at a few ways that it can be done.

You could be focusing on sponsored posts for brands that want to reach to your audience, making you the perfect medium to do that. Or, you could become an affiliate, and earn money by selling products that belong to other brands. These two main ways aside, you could also be selling your own products, which could be physical or digital products, or even a service. Basically, you can sell services and products, just like in any ecommerce business environment.

As long as the business can be expressed visually and creatively for marketing purposes, you can tap into Instagram’s millions of users.

The Power of Instagram

The numbers behind Instagram are staggering, and the platform is catching up with Facebook’s growth. While Facebook has 2.07 billion monthly active users, Instagram’s growth has reached 800 million users over 7 years in 2017 since its launch in 2010. With Instagram gaining nonstop popularity, it’s no surprise that Instagrammers are becoming an unstoppable force. They’ve figured out ways to make money on Instagram, and cash in on the pictures that they take.

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

1) 800 million 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.

Instagram Success Stories

You can learn from others’ experiences in how to earn from Instagram from case studies and success stories like those below.

Foster a specific niche lifestyle and start selling products that you’re passionate about. It can be any passion, hobby, or anything that you want to share with others. Just focus on what you do best.

With apps that connect Instagram with your ecommerce site, the seamlessness is even better. Shopify comes with Instagram Business Account integration, which makes the whole process even simpler.

The following entrepreneurs integrate Instagram marketing seamlessly with their ecommerce store. Let’s learn from their experiences of how to get paid on Instagram so that you can emulate their success.

BeardBrand

BeardBrand was first featured in a New York Times article. Their store was started with only $30 and a committed vendor. How they earn money from Instagram is unique and inspiring.

They sell products that bearded men would need to maintain their lifestyle. BeardBrand.com has a strong Instagram presence with more than 124,000 followers.

Instagram can be well integrated with the overall shopping experience, as followers can relate themselves to those depicted in the posts. With the right approach, those posts can capture the customers’ curiosity and trust.

RadLimeShop

With over one million followers, stock usually sells out in 24 hours. The videos are crisp and clear. Viewers can hear the colorful popping slime being molded. The photogenic videos undoubtedly have amazing marketing power.

This Minty Rainbow Chip slime, for instance, generated more than 179K views. With that massive number of views, it’s understandable why the product sold out within 24 hours and how they made money on Instagram.

RadSlimeShop.com uses Shopify’s ecommerce platform that’s flexible and adaptable. Making money from Instagram can be relatively easy with impressive videos and live images.

SoAestheticShop

Justin Wong, the founder of SoAestheticShop, is passionate about cute Harajuku-style fashion. His massive Instagram account is his main marketing channel. Note that each Instagram post is meticulously edited to create a very attractive image. Wong makes $12K per month on Instagram selling various products with the dropshipping business model.

SoAestheticShop.com doesn’t carry products because it uses the dropshipping business model. While there are several vendors, the products aren’t purchased by the store owner until they are purchased by customers. Dropshipping is considered one of the most lucrative business models today, and it can be easily integrated with Instagram marketing and ecommerce.

For instance, they partner up with social media influencers, which will be receiving free products in exchange of their posts wearing them and discount code for their followers. Another way to boost their sales is through an affiliate program, so anyone with a website and social media accounts can participate and receive a commission when someone orders through their link. This is another way to earn money on Instagram.

Success Requirements

Using apps, following do’s and don’ts list, utilizing the most optimal filters, and applying promotional tactics are key to business success. But, you still need to be aware of new trends and rules, which are necessary to make money on Instagram.

1) Master Instagram for Business

There are 2 types of Instagram accounts: personal and business. The business account was launched in July 2016. You can study using this step-by-step instructional video. Shopify also provides an in-depth tutorial for selling on Instagram.

2) Master Instagram Ecommerce Shopping Apps Integration

Instagram comes with limited shoppability, which requires some ingenuity to make it work for business. However, the ecommerce shopping feature can be seamlessly integrated with apps specifically designed for a Shopify store.

Try out some apps, so you’ll be able to see for yourself which ones would allow you to publish products, along with their pricing and specifications on separate pages. This way, shoppers would feel they’re still on your Instagram pages while they’re actually already on the ecommerce-ready shopping app pages.

We’d recommend using Shopify because Shopify has numerous apps that can be integrated with Instagram. Many of those apps can be tried for free, so there is no risk involved if you don’t find success with them.

3) Master Instagram Do’s and Don’ts

Instagram has detailed rules on how you should post, the types of images or videos to post, and how many times per day you can post. Following these rules could improve your chance to earn money from Instagram It also limits the number of hashtags to include, so you can’t just spam your Instagram account with more than 30 hashtags that aren’t related to the content of the post.

According to CoSchedule, it’s recommended to post 1 to 2 times per day, so your followers wouldn’t feel overwhelmed. And you’ll also have sufficient time to create unique and out-of-this-world posts.

According to Sprout Social, the ideal length of Instagram captions is between 138 to 150 characters. For ad captions, stick with 125 characters. The optimal number of hashtags is between 5 to 10, even though 20+ is possible but not recommended. Instagram may “shadow ban” your posts if they contain more than 20 hashtags. “Shadow banning” means your posts stop showing up in searches for specific hashtags. That will consequently decrease your chances to make money from Instagram.

4) Master Instagram Filters and Photography

The difference between using the optimal and suboptimal filters can be anywhere from one to two digits of likes. Canva did a study on America’s favorite Instagram filters. They are (based on rank): Clarendon, Gingham, Juno, and Lark. And the world’s favorite filters are: Clarendon, Juno, Valencia, Gingham, and Lark.

How to Build a Strong Following on Instagram

Should you build an Instagram following before or after you start selling?

The answer is simple: before and after.

Ideally, you already have at least a couple hundred of followers before you start selling. This way, you wouldn’t be posting images of products to an empty account. With a couple of hundred followers, some interaction can be expected, which is a good start.

Now, how can you build a strong following on Instagram? Apply these 14 tips right away, so you can start seeing a strong following. A strong following is key to making money from Instagram.

1) Optimize your Instagram profile.

Make sure to choose a username that’s less than 30 characters. Ideally, the name is searchable through a keyword. It should also be consistent with the username you use on other social media platforms.

Your bio should include up to 150 characters. It’s a great idea to include a clickable link to your website in your bio. This is the only place where you can include a clickable link in your Instagram account, so it’s an important aspect of optimizing your account.

2) Create and promote a dedicated hashtag.

If your account name is Jennie’s Candies, consider creating the #jenscandies hashtag. Thus, whenever you want to check conversations related to your brand, you can simply check the hashtag. You can also promote this hashtag everywhere you go and on other platforms, both online and offline.

3) Get creative with hashhags related to your niche.

While Instagram allows 30 hashtags per post, it might backfire. It’s recommended to use 5 to 10 popular hashtags for your niche and related to your products.

4) Participate in conversations related to your niche.

Check out other accounts using the same hashtags. Follow them and get involved in the conversations. You’ll earn new followers this way.

5) Use compelling captions.

This will help your followers to feel invited to join the conversation and like your posts.

6) Run and promote contests.

Create a contest with a photo that invites contestants and shows the prizes. Also, include a special hashtag for this contest. Decide how the winners will be chosen and post the rules clearly.

For instance, you can create specific photos for the contest. And every photo using the special hashtag is included in the competition. Make sure that you comply with Instagram’s contest rules. Be creative with the contest, so contestants have an opportunity to earn some money from Instagram as well, if possible, like inviting them to join an affiliate program that comes with a prize.

7) Create and promote Instagram Stories and Live Videos.

You can add geotags, selfie stickers, moving texts, add color overlays, texts, and face filters (just like Snapchat) to your Instagram stories. Be creative when delivering your message. Make it fun.

8) Post regularly.

The key is being consistent and to ensure that posts are styled in the same way, such as using the same filter or types of post, like photos or quotes. This way, the followers would recognize your posts and correlate them with your brand.

9) Collaborate with influencers and like-minded accounts.

Reach out to influencers and like-minded accounts for exchanged and paid posts. For instance, if you have a huge following, you can do posting exchanges. If you collaborate with an influencer, you can choose to create an affiliate program that pays commission or pay per post depending on the size of the following.

10) Use the location feature. Post videos and stories to your account. Use appropriate hashtags and geotags so that your posts can be easily found.

11) Develop a unique visual style.

Choose the same filter and style for your Instagram account. If you have several accounts, each account must have its unique personality. For instance, one account is about brand activities and the other one is for selling products.

12) Ask others to engage with your content.

If you ask, people might help you out. As long as the caption on the posts bring value to them and somehow evokes positive feelings, you can ask people politely to get engaged.

13) Use Instagram Ads to Reach More People.

Paid ads can help you to reach more people who otherwise wouldn’t have been looking for your posts. On average, an Instagram ad would cost $0.70 to $1.00.

Business Models

Instagram is ideal for selling products that photograph well. In other words, if your products are photogenic, most likely you can sell them with Instagram. Also, if you’re photogenic yourself or can take awesome photos, most likely you can have a huge following that can be capitalized to sell.

In general, there are at least 5 business models.

1) Sell dropshipped products.

You can easily set up a dropshipping store with Shopify’s ecommerce platform, which is free for 14 days, and Oberlo’s forever free plan dropshipping app. With dropshipping, you can experiment to find the niche products that would sell well, without wasting startup capital.

2) Become an influencer and make money from sponsored posts.

With your influencer status, you can propose to brands to help to promote them in your posts. Top influencers make thousands of dollars per sponsored post. Imagine doing one sponsored post per day, you can make tens of thousands of dollars per month easily.

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

You can sell other people’s products and receive a cut. Many brands sell their products through affiliate programs. There are many people that make money from Instagram this way.

Create engaging posts, so you can promote the products without being pushy. The thing is, since you can only have one link on your bio, you might want to include a landing page to your affiliate link. In each post, include a caption that the product can be purchased via the link on the bio.

4) Sell poster photos and other virtual products.

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.

5) Sell your own physical products.

You can sell any physical product that you produce yourself or purchase from suppliers. This conventional ecommerce retailing usually requires stocking some inventory, meaning you’d need to spend some startup capital to stock some products.

And it requires a place where you can keep the products, such a spare room at home or a rented storage place. For instance, if you purchase some inventory from a China-based supplier, you’d need a space to keep them before they’re ordered by and delivered to customers.

Promoting Your Business

Regardless of your business model, you’ll need to promote it. Self-promoting requires more than just having thick skin. Above all, you’d need to be strategic and use proven tactics in order to earn money from Instagram.

When you’re selling on Instagram, the purchases are mostly impulse-based. For this, the promotional avenues chosen must be based on this philosophy. The key is creating a “wow” factor with the photos, videos, captions, and a seamless experience when customers are shopping for your products.

Use compelling photos and videos produced professionally and using favorite filters and tools.
Integrate your Instagram account with your ecommerce store to ensure a positive and consistent experience.
Collaborate with as many influencers as possible. Select influencers whose philosophy and followers are in alignment with yours.
Strategize well. Stay afloat and post content on a daily basis.
Design all your social media accounts, web pages, and blogs to reflect a uniform and consistent theme.

Takeaways

By being creative with your account you too, can earn money from Instagram. You can sell physical products by posting photos, live stories, and videos. Also, you can sell services, like influencer marketing. If you sell tangible products, consider using the dropshipping model, which is convenient and cost-efficient.

How much money can people make on Instagram?

It depends on what you sell, business strategies, and marketing tactics you use. If you’ve just started, you might only make a little. However, as your Instagram following grows and you’re more familiar with marketing, the sky is the limit.

How can I make the most money from Instagram?

Learn from successful Instagrammers. Combine what you’ve learned from them with your own strengths in marketing, photography, storytelling, and photo styling. Grow your following as much as possible, create contests, and be active by posting new photos once or twice per day. At last, have a strong product and serve your customers well.

It may take a few weeks or months to start earning a handsome amount of profit from Instagram, before you quit your 9-to-5 job. Considering so many successful ecommerce retailers earning a 6 or 7-digit income annually, selling dropshipped products via Instagram is a business model too good to pass. You owe it to yourself to start it.

Sunday 23 September 2018

How to Make Money on Instagram