How to Make Money on Instagram

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How to Make Money on Instagram

Instagram is an amazing opportunity for businesses. Out of the 800 million users on Instagram, a massive 80% follow a business on Instagram. At least 30% of Instagram users have purchased a product that they first discovered on Instagram.
So, I’m going to share with you a step-by-step process for making money on Instagram.

Well, there are 5 main methods.


1- Become an Influencer Yourself

This can take time. But if your patient, savvy, and can build an authoritative personal brand on Instagram, other businesses will pay you to promote their products.


2- Create And Sell Your Own Digital Products

For example, try selling online courses, ebooks, and design templates. This can be a great money-making tactic, but you do need to create these products before you can sell them.


3- Create And Sell Your Own Physical Products

If you’ve already designed, patented, and manufactured a product, Instagram is a great channel for marketing it. But this is only for more serious e-commerce entrepreneurs. product, patent it, have it manufactured, manage the storage, and handle shipping them out. This method is great for more experienced e-commerce entrepreneurs.


4- Become an Affiliate And Make Money on Instagram Promoting Other Business’s Products.

Now, this method is relatively easy, and faster, to get going. Because there are plenty of sites online that will connect you to other businesses willing to pay you to sell their products. But, the downside is that you’re not in control of the offers you’re promoting.


5- Start a Dropshipping Business

How to Make Money on Instagram

This is the method I recommend. Especially if you’re just starting out, and want to create a successful, sustainable business where you’re in control.

But, what is dropshipping?

Dropshipping is where you sell physical products. But, you don’t need to order any products upfront, store the products yourself, or even ship them out to customers. All this is taken care of for you.

What you have to do, is create a store, add some products and market your products on Instagram. Then, when a customer submits an order, your supplier will charge you the cost of the product, and ship it to the customer — and you get to keep the profit.

Dropshipping is an incredible opportunity for new entrepreneurs.

Why?

  1. You’re in control of your business.
  2. You don’t need a lot of money to get started.

Also, with apps like Shopify and Oberlo, it’s easy to get a profitable business up and to run quickly and easily.

What’s more, this is a method that you can scale into a long-term, sustainable business.

So, how can you use dropshipping to make money on Instagram?

Well, there are three main ways to promote your products on Instagram:

  1. Grow your audience organically
  2. Use Instagram ads
  3. Partner with influencers to promote your store.

All of these are great ways to make money on Instagram. But before we get into each of them, you need to create a dropshipping store and set up your Instagram account.


Let’s start with your store.

You can set up an e-commerce business in minutes at Shopify.com — this is free for 14 days, and then only $29 a month after that. Then, you’ll need to install the Oberlo app — which is free for life!

Shopify is your store itself. It’s your website, and it’s where you’ll showcase your products, and take sales. And, Oberlo enables you to find products, and add them to your store.

Between the two, you can have your own fully functional dropshipping store set up in minutes!


Next up?

You need to pick a niche. Now, you might be tempted to create a store that sells all kinds of products, like Amazon. But, it’s far better to start off with a narrow niche.

In fact, the narrower, the better. Choosing a small niche allows you to cut through the noise on Instagram and start making sales.

How to Make Money on Instagram

Based on Instagram’s top hashtags, popular niches include fashion, food, beauty, and fitness.

Whatever you choose, try to pick a niche you’re familiar with. Because it’s best to have a solid understanding of your target customers. This will make it easier for you to create engaging posts, captions, and product offerings.

Then, use Oberlo to find products in your chosen niche, and add them to your Shopify store.

Next, you need to create a Winning Instagram Profile Upload a profile picture that features a person using one of your products, like fashion brands Military Hippie, and Chubbies.

In your bio, write a snappy description of your brand like you would in a Tweet. Try to make it emotional, about your customer, and finish with a call-to-action that encourages people to click your link.

To start, link directly to your products page, and make sure your link is easily readable.

Okay, now that you’re all set up, it’s time to make money on Instagram!

To recap, there are three main ways to promote your dropshipping store on Instagram.

  1. Grow your audience organically
  2. Use Instagram ads
  3. Partner with influencers to promote your store.

Let’s run through each of them.


1- Grow Your Audience Organically

Here are 8 top tips to get you started:

Number 1: Make sure the content you share high in quality. It needs to be in HD and well-lit. And, take advantage of Instagram’s inbuilt editor and filters.

Number 2: Share lots of different content to find out what works best for you. You never know what’s going to work until you try it.

For example, while Instagram video consumption has increased by 40%, photos actually generate 36% more likes. You could share inspirational quotes, how-to videos, or run competitions. To get inspiration, check out what’s working for your competitors.

Number 3: Don’t Spam people with your offers. One study showed that Instagram users enjoy seeing photos of products. In fact, product posts are actually more popular than lifestyle images from influencers, and celebrities! But, it’s generally understood that people hate to be sold to. So, by all means, promote your products, but make sure you’re also creating a good experience for your followers.

Number 4: Post photos that feature faces. Why? Because images that feature faces get 38% more likes than those without.

Number 5: Don’t forget Instagram Stories. Using Instagram Stories is a fantastic addition to your marketing strategy.
In fact, one-third of the most viewed Stories are from businesses. Start out by posting several Stories a day, and see what works.

Number 6: Repost content from other accounts. This is a great way to share good content without needing to create it yourself. Instagram’s Terms of Use, state that you must reach out and obtain written permission from someone before reposting their content. You can do this by sending them a direct message, or commenting on the post itself. You can use an app like Repost for Instagram.

Number 7: Use plenty of hashtags. Images with 11 or more hashtags perform the best. Also, download a hashtag app like Focalmark to help you find the best hashtags to include.

Number 8: Engage with your community often. According to Buffer, major brands post an average of 1.5 times per day to Instagram. So, aim to post 1-2 times a day.

Also, reply to comments, and reach out to other users on the platform. For more tips on how to grow organically, check this out!


2- Make Money On Instagram Using Ads

There are now over 1 million advertisers on Instagram — and for a good reason. Instagram ads are a great way to promote your products to the people most likely to buy them. To get started with Instagram ads, you need to set up a Facebook ad account.

And there are 3 key steps to creating a killer Instagram ad. Let’s take a quick look at them.

Number 1: Select your target audience. First, clearly identify who your target customer is. How old are they? Where do they live? What are their interests? The more specific, the better. That way, you’ll make sure that you’re not wasting money on ads which aren’t reaching your ideal customers. Then, use the Facebook ad manager to hone in and select your audience.

Number 2: Create a compelling offer and write your ad. Remember, people love to buy stuff, but they hate to be sold to. So, always ask yourself, “What’s in it for them?” Maybe try a discount or sale for a limited time only, to increase urgency. Or, see what’s working for your competitors. And when writing your ad, make sure you don’t just tell people what your product is — tell them how it benefits them.

Number 3: Choose your picture or video. Images account for 75-90% of Facebook advertising performance. But, your image is even more important on an entirely image-based platform like Instagram! Remember, images with faces perform better. So, make sure you feature a model using your product.

And last on our list of ways to make money on Instagram, is to…

3- Partner With Instagram Influencers

How to Make Money on Instagram

Instagram is the place for Influencers. So much so, that almost 80% of influencers prefer Instagram for brand collaborations over any other channel.

And remember, influencers aren’t just celebrities or famous YouTubers. Anyone with a reasonably large following can be an Influencer.

So, although Kim Kardashian might be a little too pricey for your first campaign, you should be able to partner with a micro-influencer in your niche. Micro-influencers with 2,000 to 100,000 followers charge, on average, between $137 and $258 per Instagram post.

This might be a lot of money when you’re first starting out. But, if you do your homework and find the right Influencer, it can be worth every cent.

So, how do you find the right influencer?

First, look for an account with at least a few thousand followers — ideally, over 10,000.

Then, identify those with high engagement.

  • How many likes do they get on average?
  • How many comments?
  • Have they promoted products before?
  • And, if so, did the posts receive a lot of likes and comments?

Once you have a list of influencers who might be a good fit, you need to create a compelling offer. Simply, what’s in it for them? And, what’s in it for their audience? To start, offer them your product for free, and perhaps a small payment. And, provide a special discount just for their audience.

Also, a dedicated discount code will let you tell how many sales are a result of the influencer campaign. And, if it works out, you might want to pay them a larger fee to do a more in-depth video promotion. Or maybe even establish a longer-term partnership.

And, although there are tons of ways to make money on Instagram, dropshipping is an awesome business model that you can get up and running quickly and easily.
Simply head over to Shopify.com now to get started. Then, promote your store on Instagram by growing your audience, using Instagram ads, or partnering with influencers.


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