Instagram, as we all know, is one of the most highly used social media platforms in the world. It is not only used for the purpose of sharing pictures for entertainment anymore.
It is now a booming ground for all new entrepreneurs, artists, photographers and so many other talented artists and professionals to give a boost to their businesses. Not only does Instagram have a wide-open reach that helps you tap audiences all around the world but also helps you boom up your means of decent income if you can find your way through it.
So here are a few tips on how to earn money from the comfort of your home and between your 9-5 jobs parallely in recent times of the year 2020.
Is Instagram A Practical Option To Earn Money?
To those wondering how viable and practical it is to use a social media platform like Instagram to earn money, here are a few things you need to know using some stats.
1. As per records, Instagram has over 1 billion active users every month.
2. There are over 500 million users who are active every day on the platform.
3. Of the total population of 1 billion, 71% of the monthly active users on the Instagram app are under the age of 35.
4. 80% of Instagram users follow at least one business account, that is, 640 million users follow at least one business account.
5. There are 2 million Instagram advertisers every month endorsing different products or brands.
6. Time spent on Instagram increases by 80% every year, which is 53 minutes spent on Instagram approximately at an average.
7. Instagram posts with location tags get 79% more engagement, helping reach a more niche audience.
8. On an average of 300 million, Instagram accounts use Instagram Stories every day.
9. Most importantly, user-generated content has a 4.5% higher conversion rate.
Thus with these statistics you know with Instagram gaining nonstop popularity, it’s no surprise that Instagrammers are becoming an unlimited non-stop crowd. They have figured out ways on how to make money on Instagram and earn up with the pictures that they take.
Ways For You To Make Money On Instagram In 2020?
To make money on Instagram, what are the possible things that you can do, to do so? This is the most obvious question that comes to your mind next. To help you out with it, here are some ways to do that.
1. You can focus on sponsored posts for brands of your interests that want to reach your audience, making you the perfect source to do that.
2. You can become an affiliate and earn money by selling products that belong to other brands.
3. You could also be selling your own products too. They can be physical or digital products or even a service. You can sell services and products, just like in any e-commerce business environment through Instagram.
4. You can sell your photography, sketches, and paintings too.
Those highly active users of Instagram always look out for areas of their interest and how they can use them for their own profits and source of income.
What Are The Requirements for Earning Through Instagram In 2020?
Now that you are planning to use Instagram as a platform not only for entertainment and to kill time, you need to treat it like a business and keep up with the new ongoing and upcoming trends at all times.
1. There are two types of accounts on Instagram; one being the personal profile and the other being a Business account. This business account helps you to start your own commercial space.
2. You can also launch an Instagram Shop. This feature helps you to integrate your product catalogues with your profile. It allows you to promote your products in the Instagram feed as posts, Stories, Explore tab, and the Shop tab section too.
3. You can also integrate with some apps, especially e-commerce platform apps like Meesho that can help you list your products with the help of their app platforms too. It helps you to overcome the limitations of ingenuity and capability to make your business more effective and sufficient to work better.
Not only will it help you reach more audiences but also allow you to display the product prices, offers, and varieties of products along with specifications that are difficult on Instagram alone. This gives the shoppers more comfort and reliability like those of their app Instagram pages.
Here are some do’s and don’ts that you must keep in mind:
1. It is recommended to post at most 1 or 2 times a day. This gives your posts enough audience without bothering them and also giving you ample time to think about more innovative ideas more frequently.
2. Do not overuse hashtags. Use no more than 5-10 hashtags for optimal usage, despite the limit of 30 hashtags. It is to ensure that one doesn’t overexploit the feature by using unrelated hashtags.
3. The ideal length for Instagram captions should be between 138 to 150 characters. For ad captions, prefer to stick with 125 characters at maximum.
4. Make optimal use of the Filters feature as they tend to attract and keep the audience more engaged. The most commonly used filters are Clarendon, Juno, Valencia, Gingham, and Lark.
How To Make Money Through Instagram Posts In India?
We, generally as humans, are always attracted to things that are pretty and beautiful, mainly aesthetic and photogenic. Similarly when on Instagram, shoppers are always attracted to products that are highly photogenic, thus they end up having the highest sales too. If you have great potential with your products and are great at photography, Instagram is the perfect space for your business to bloom.
Here are a few things that you can follow that will ensure you some good source of income.
1. Sell Poster Photos And Other Virtual Products
Instagram is all regarding visual content. A photogenic product would sell well on Instagram. You’ll be able to sell poster photos, paintings, drawings, animations, videos, and different images or video-based virtual products. On every post, refer readers to go to the link in your bio. This is often another common means that individuals can make money from Instagram.
If you’re thinking that you can take high-quality photos, there’s an opportunity that you simply will get to purchase. However don’t limit yourself with simply your photography skills, explore different potentialities that enhance your photos like editing and composition. Attempt to be original when you’re taking photos. You can use Instagram to market your photography portfolio using relevant Instagram hashtags.
2. Deal With Your Own Physical Merchandise And Products
You can sell any physical product that you manufacture yourself or purchase from suppliers. This standard e-commerce selling typically needs stocking some inventory, which means you’d have to spend some startup capital to stock some merchandise and products.
And it needs a place wherever you’ll keep the merchandise and products, such a spare space at home or a rented storage place. For example, if you purchase some inventory from a hot stop-based supplier like Surat, Ahmedabad, Mumbai, Kolkata, Hyderabad, Chennai, or even China; you’d want an area to keep them before they’re ordered by and delivered to customers.
You can sell merchandise and products directly on Instagram through Instagram Posts and Stories. By merely tagging merchandise and products in your Instagram pictures, you’ll lead your Instagram followers to your product pages where they will purchase merchandise and products quickly.
3. Deal With Dropshipped Products
You could also opt for dropshipping options as an alternative to the above option. Dropshipping is a business model in which you can run your store without ever holding any inventory. In these cases, you can place the orders for your customers directly to your suppliers or supply holders and they can have them shipped to them. In this way, you do not need any extra storage space or have to spend money on it. This takes away all the burden and concern revolving around storage, packaging, and shipping of products which are a huge part of your business.
You can also try out the Meesho app for these options where you can get products and merchandise from different suppliers and sell them to your customers by simply sharing the product catalogues on your account page as posts, placing their orders on the app and receiving your profit once the payment by the customer is done.
4. Affiliation Programs With Brands And E-commerce Platforms
This is a perfect option for those who want to sell merchandise and products that are not their own but wish to receive a cut from their selling for their income. Many brands and e-commerce apps sell their products through affiliate programs. There are many people who make money from Instagram this way.
An affiliate works towards making sales for a partnering brand at the cost of a cut or a commission. They can do so by using a promo code or tracking link provided by their partner in their bio and have their audience make purchases using those promo codes or via the tracking link to count their sales contribution. You can try the Meesho app for a similar program and act as an affiliate for the products that could interest your audience.
You can expand your presence by including a website and/or other marketing or social media channels for the purpose of growing your affiliate marketing.
You can go to promotional postings which lead them to be attracted to the products that you’re endorsing and get them to their purchase by your followers and audience.
5. Sponsor Products As An Influencer
An influencer is somebody who has built a name by doing and sharing things online. They have a decent following and are able to persuade their audiences regarding trends thanks to the extent of trust they have built with their online presence.
Brands tend to partner with influencers to do sponsored posts that facilitate unfolding the word concerning their merchandise. Influencers ought to manage several things right away and admire the scale and reach of their Instagram accounts additionally because of the trust and engagement that they build to support their content.
A typical influencer post includes the creation of content like an Instagram post or an Instagram story, which will embrace the promotion of the brand or its merchandise. As an influencer, that’s why it’s very important for you to understand your audience. You would like to grasp who your audience primarily consists of so that you recognize which brands would best suit your audience. You can try the Meesho app for a similar program and act as an influencer for the products that could interest your audience.
Usually, brands reach out to you when you have a significantly big audience impact and following to endorse their products. You can reach out to brands yourself directly through Instagram or through their websites to try to break a deal. You can also try by listing yourself on an influencer marketplace to boost your chances of being found by a big brand.
As an additional tip, watch out to not lose the trust of your existing audience within the method of earning money from sponsored posts. That’s why it’s invariably a decent plan to point with an Instagram hashtag that it’s a sponsored post.
Summary: How To Make Money On Instagram In 2020?
Instagram being a vast platform, provides you with ample opportunities to earn money in various ways. Some of the most effective ones being:
Selling your own physical or virtual products via posting images, stories, Live stories, and videos.
1. You can sell services like influencer marketing or affiliate marketing and have a cut through commission, especially when you have a wide set of audience reach.
2. You can also opt for dropshipping facilities in case you do not wish to spend too much capital to start your business.
You can always learn the new and upcoming trends to keep up with the audience pool and their interests. Having ample knowledge about your audience is a must if you want to earn a decent income through Instagram. It depends on your skills as to how you market and how successful are with it. You have to learn and develop the art of storytelling, photography, and marketing in a combined pack to engage the best with your audience and to keep them loyal to you.
It is not a very simple and quick way to earn money and thus requires patience and continuous efforts to have it successful. It could take weeks, months, or even a year till you start earning a lump sum of enough money. So do not give up on your stable source of income until you are steady via your earnings from Instagram.