With 100 million active users, Instagram is a social media tool with a high engagement ratio. It’s like the proverbial golden goose and Instagram influencers are seeking ways to monetize on their popularity. I am sure many of the readers here are active Instagrammers. Alternatively, if you’re a beginner, read this blog post titled ‘Instagram for Beginners‘ by Vibbi, and I strongly urge you to consider the social platform as a potential money making tool. In this blog post, I will acquaint you with some tools to sell on Instagram.
Read the case study where Prep Obsessed received 72 orders in the first week using Soldsie on Instagram. With this tool, you give your followers the ability to buy directly from an Instagram post. Since you can’t embed links directly, post a product on Instagram, and if the followers comment ‘sold’ on the image, Soldsie will send a mobile-friendly invoice to view and pay for the product. Companies like DailyLook and Nylon Magazine are using Soldsie Have2Have.it tool to direct traffic to the product landing page.
This is an automated influencer marketing tool showing real-time statistics, that is, the power of an Instagrammer’s influence, to brands. Based on these statistics, brands decide whether they want to collaborate with influencers for outreach. Brands offer sponsored content collaboration opportunities, and TapInfluence brings the brands to you. Brands are willing to pay for this type of engagement.
Similar to TapInfluence, Influenz is another platform where you can create an account and choose to work with various brands, based on your niche. You can choose and promote brands directly. You need 5000+ followers to become eligible.
It is a crowd-sourced platforms for brands to buy images for their marketing and promotional needs. If you’re a photographer, you can sell the Instagram images to Twenty20. They already have a database of 45+ million images from 300K+ photographers. You can join the portal and start earning money for your pictures.
#5 Affiliate Marketing Sites
It’s a concept familiar with bloggers. You can use affiliate marketing to earn from Instagram as well. Recommended sites are Shareasale, Ebates, and Stylinity. You need prior approval to promote products on Shareasale. With Ebates, you can offer deals and discounts and Stylinity is for fashion bloggers.
Instagram is a real-time visual network; therefore, your images should be high quality and meaningful. Buy stock photos if you are not a good photographer. Your Instagram monetization success is directly linked to your engagement potential. There is a difference between having 10,000 non-engaging followers and 5000 engaged followers. Stagnant accounts are useless. You might get one-off deals, but there is no long-term potential because brands want engagement, brands want ROI.
Make the sales proposition overtly. People are there to view photos, and chances are high they will just scroll by the caption and miss your promotion. Therefore, the sales overt should be on the image. But, refrain from making it too sales oriented – it can backfire. Be active with checking out the comments. Sync your Instagram account with any of the suitable tools listed, and you will be on your way to monetization. Keep track of the sales funnel.
Lastly, if you want, you can sell the accounts. An active account with 100K followers can easily fetch $25,000 or more. FameSwap and Viral Accounts are some such marketplaces to buy and sell Instagram accounts.