6 Tips to Effectively Monetize your Instagram Account in 2020
Are you a social media freak and looking for the answers on how to effectively monetize an Instagram account? Then you are on the right page. Yes, you can actually make money using the size of your fan following, the effectiveness of your content, and the ability to drive traffic and conversion. However, this can be possible with unshakable focus, out-of-box thinking, determination, and creativity.
Here are some concrete tips that will surely help you in fulfilling your dream of making money on Instagram.
1. Get fans on your account
We see many people struggling with making money online. Also, most of them think they can't generate income on Instagram. The main reason behind this is that they have a little fan following on their social media profiles.
If you are new to Instagram, you may have a question, i.e., how many followers to monetize Instagram you will need? If you have identified this question and actively looking for the solution, you are on the right track.
Use every possible way to boost the number of followers of your Instagram account. Ask your friends to follow you and existing followers to invite their friends. Apart from this, you can get involved with other's posts in a similar niche as yours. Liking and sharing their posts and videos will make them notice you. As a result, they may start following you. Activities like contests can also help a lot.
2. Collaborate with influencers
You are running a successful food Instagram account and are earning some amount. But what if we say that you can boost your income by asking other influencers to collaborate? Yes, you can request a famous chef to comment on your post or mention your post in their posts. The use of your hashtag in their posts and twits can considerably boost the viewership of your content.
A lot of successful bloggers, vloggers, and YouTubers are there on the internet that can match your niche and help generate referral traffic. They can be your potential go-to contact point, and most of them would be happy to spread your words/brand through their online mediums.
3. Post quality videos and images to increase engagement
Bringing fans to your account isn't the only task to be done effectively to fulfill your aim of making money on Instagram. You have to keep them interested and engaged with your posts. Make useful images and videos that they see, like, and share with others.
Remember that they are your fans just because they expect something useful from you in a specific niche. So when you have a Meme Instagram account, your content should be of that taste and should be able to make people laugh. At the same time, it should also make them think about what you are trying to say. Post quality and not generic content to stay in your audience's mind.
Additionally, maintain regularity in posting your content. There can't be a fixed number and frequency, but keeping it moderate is good. You should not make an overload of posts, and neither should keep a long silence. Post at least 4 times a week, and you are okay as long as your content is interesting and useful.
4. Start with affiliate marketing
Now you know that building a significant follower base for your account is important. But a lot of people like you would have a question once or frequently while doing this activity.
The question is...
How long does it take to monetize an Instagram
The answer is simple, once you have an audience willing to respond to your posts and engage in a way you want. However, this is not simple and would take consistent and creative efforts.
Keeping other things aside, you can surely try one thing first, and that is affiliate marketing. Once you have a considerable number of followers, you can have an affiliate account. Then you can link your Instagram posts with your blog page or the product page of the company you are affiliated with.
Many sports Instagram account owners are using affiliate marketing as a way to generate revenue. If you have an account in a sports niche, it would be easy to attract people with a specific interest. And they will be potentially hot customers for the products or services you promote on your Instagram account. Be it via your blog page or direct from the other site's product catalog page, you can earn a commission for every sale.
5. Help boost brand awareness
Online branding is the trend these days and is being followed by small to large companies. They set aside a considerable portion of their marketing budget for digital advertising. In this case, you have an excellent opportunity to use your Instagram account to generate income.
For example, if you have a pet Instagram account with thousands of followers, you have a great potential for earning. You can offer creative posts and videos to the companies selling pet care products for a charge. Most of such companies look for a niche-specific audience to target for their products.
Interestingly, you can create your own video mentioning a company's product or service and charge them a fee for this. Another way is to create images that fulfill both your niche related purpose as well as the promotional purpose of a brand.
6. Offer sponsored posts
How to monetize Instagram posts is the question most Instagram newbies frequently ask. The answer is Sponsored Posts. Yes, when you reach a level when the engagement on your feed is vast, and your followers can respond to your every shoutout, you can offer sponsored posts. If you have a travel account or photographer's account with a quality fan following, using your feeds for sponsored videos/pictures for a hotel or travel brand would be a great idea.
Brands often look for online marketing and promotional services that can bring instant awareness about their products, offers, and services. This is your monetization opportunity. Reach brands in your niche and offer them your sponsored posts service. You will surely get orders as there are thousands of companies out there looking to pay for the instant flow of potential customers.
Making money on Instagram is not rocket science. However, it's not that easy too. There are various factors that need to be considered to be successful as an Instagram marketer. In this regard, the tips given in this article would make a huge difference if followed well. Additionally, you can also read "How To Grow And Monetize Your Instagram Following In 2020" eBook. It has covered all the latest trends, strategies, and techniques that can work in 2020.