How to Monetize Instagram?
There are so many effective ways to monetize your Instagram account. When we hear the word monetization, we often think that it's about having millions of followers to get your account qualified. But actually, it doesn't work that way.
A small, yet engaged following of 1,000 is enough to begin to leverage and monetize your Instagram account. Remember, it is engagement that matters the most.
Let's say you're an event organizer. Since Instagram is a visual platform, you can post photos of the events you've handled. You can then add your website link or lead them to the contact page of your website. Believe me, that work wonders. Another thing you must consider is running Instagram Ads for your account and incorporating Facebook Ads with it.
Instagram has its very own algorithm it terms of ranking. You would need to learn these things if you want to effectively make money with your Instagram account.
Instagram determines what kinds of posts might be interesting for you, depending on what you search and who you follow.
Just like Google Analytics, you can check Instagram Ads insights to see the times when your audience is most active.
Instagram prioritizes organic engagement with followers.
Instagram also determines how often you post and how often your followers engage. Flooding your followers with content will likely drive them away, so don't overdo it.
Start building solid followers on your Instagram account. Your followers are your audience and it is to them and to their followers you should market to. Every post should aim to impress them, and every post's objective is to get more followers.
The more Instagram followers you have, the higher your chances of being "seen." And, the more you are seen, the greater your chances of converting leads into actual sales.
How long do your followers use Instagram? This will also determine which of them to prioritize.
With all these algorithms enumerated, here are ways to start with your monetization journey:
1. Build Credible Followers
Having the right amount of followers on your account is vital in order to increase brand awareness and thus help you monetize your Instagram.
You need a significant amount of followers, so a bigger set of audience can see your content. This means you have higher chances of conversion.
If you think you have a few number of followers, don't worry! There are many ways to build an audience through proper engagement.
To monetize your Instagram account, you can do these strategies: (1) post photos from an account within your niche, (2) comment on posts, but do not spam; (3) You can also ask other accounts to follow you because you think they might enjoy your content, and it could be helpful for them, too; (4) another strategy is running a contest that includes tagging friends or supporting your account.
2. Provide A Link To Your Blog & Create Good Bio
Linking to significant pages, especially to your blog, is vital when you're aiming to make money on Instagram.
Every content that you post on Instagram should have the appropriate call-to-action. When you're posting about a new product, you should add a link to the specific page of that product so your followers can easily go to your product page. It's a good idea to aim for user-friendly navigation not only within the website but on your social media accounts as well.
You need to utilize your Instagram as a branding channel to drive traffic to your website or so you can convert followers to customers. However, don't make it seem like you're pushing your followers to make a purchase.
Do not go overboard with positioning yourself in the niche, not until you have something of perceived value that you can use to persuade your followers to trust your brand and purchase your products.
3. Sharing Quality, Engaging Images & Videos
Instagram is the most visual social networking tool, which makes posting quality images crucial. This will create an appeal, and most importantly, it will set the tone of your brand. It should be able to tell a story or at least introduce what your business is all about.
Nothing's more "monetization" worthy than a feed with high-quality images. You should know what kind of visuals are appealing to your target audience and deliver them.
You can always show off your products and get creative with your approach. If you're selling clothes, post images of them being worn by a model, or if you're in the food industry, you could share a recipe that they can create by using your products. You should create the "need" and "want" for your products. You should also point out how your potential customers benefit from your products.
4. Encourage Followers To Engage
If you are able to create a community, some of your followers would be more than willing to endorse your brand with little recognition - that means you can post an image of them on your profile.
Let's say they bought your product, and you asked them to take good photos of themselves using it, and then once they share it, you can post it on your wall. It's a great way not only to engage your audience, but to get and show reviews from real people as well.
Give your followers the chance to submit photos or videos of their experience with your brand. You can also run a contest online for this.
Furthermore, a great way to engage is to add a call-to-action on your posts or ask your followers questions that they will feel inclined to answer. If you're running a fitness account, you can ask them about their favorite exercise or what they eat for breakfast.
5. Partner Up With Influencers
Thousands of Instagram users have effectively monetized their Instagram account. You can make use of their popularity by partnering up with them.
Have you ever heard of influencer marketing? It's actually one of the most popular methods of advertising your branding nowadays.
The good news is, there's always an influencer for every type of business! You just need to locate the best one in your niche and propose a partnership with them.
The benefits of this strategy include building brand trust, generating relevant leads, getting higher conversion, and attracting new audience for your services. Certainly, fans will always welcome brands endorsed by their favorite influencer, which is why it's a great way to turn non-users into users.
6. Running Paid Ads
Believe it or not, Instagram ads can help monetize your Instagram, and have been proven to increase engagement to your business/brand. An active account with compelling content has higher chances of having people click on their ads. Apart from this, you are also able to create a specific target market for your services. You can set locations to ensure that you're targeting the right audience.
Running ads will result in higher conversion rates, especially the kind of ads that encourage the audience to visit your website. This will increase your brand's visibility to your target market, and can increase the speed of growth of your Instagram account.
7. Create and Sell Your Own Digital Product
What separates Instagram from other social media platforms is that it is a visual platform. Thus, if you have an online store, Instagram would be the best place to promote your products. Most people can better remember the things that they see than the things they can read or hear.
Moreover, videos and images usually tend to outperform text posts in terms of engagement. Having a photo/video-centric platform like Instagram can build your brand faster by allowing your audience to recognize your logo anywhere, and remember your brand better. Also, continuous posting of Instagram images can help your audience-- your potential customers, interact and get to know your brand better. This will create familiarity, trust, and eventually convert your potential customers into actual and returning customers.
Applications You Can Use For Instagram Monetization
If you're looking for tools that can help you monetize your Instagram account, there is a wide array of options available. You can choose whatever fits your needs best.
Here are a few of the tools you might want to consider:
- TapInfluence. Get insights on Influencers with visuals. It's simple and easy to use.
- Linkin.bio. Turn your posts into a clickable feed!
- Buzzoozle. Easily search for Influencers to connect within your niche.
- Bitly. One of the most famous URL shortener and link management tools for your Instagram bio.
- Linktree. Showcase different services you offer with Linktree and post more than one website link.
Benefits Of Instagram Ads With Facebook Ads
We recommend running Facebook ads, especially Facebook retargeting ads, along with Instagram marketing. That being said, Instagram is one of the most popular and fast-growing platforms that brands and influencers are currently making big money from. Backed up with actively running Instagram ads, and partnered with Facebook retargeting, you can create multiple touch points to increase brand awareness and sales.
Ads that run on both Instagram and Facebook have better performance than the ones who only use one or the other. The metrics measures are, but not limited to: video views, website clicks, mobile app installs, growth in followers, likes, and many more.
Often, people are on their phones browsing through Facebook and Instagram, which is another reason why running ads on both these powerful networks is an excellent investment for your company.
Instagram Ad Mistakes You Shouldn't Commit
Not Targeting The Right People
Often, when we're overwhelmed with the benefits of social media, we think that we can serve everyone. You're not a part of a buffet! You want to categorize the specific people you want to market to. Where are they located? Are you targeting locals? Remember, you can't serve everyone all at once. You should know the people who actually NEED your services.
Focusing On Quantity Over Quality
When posting something on your Instagram account, make sure you provide not blurred generic stock images you see online, but high-quality photos. Not only will quality images raise your credibility, but they will also be aesthetically-pleasing, making customers feel more inclined to view, like, and follow your account.
Creating Short-Term Goals
Most of us create goals each month without realizing that it should go hand in hand with annual goals. When you're creating a strategy, make sure that this can help realize your business goals for the long term. Your brands should have an ongoing process in terms of the marketing efforts and not stop the campaign once you've reached a specific goal. Keep aiming higher and see how you can top your previous results.
Expecting Instant & Fast Results
Great things take time. Rushing the potential of your strategies can harm not only the campaign but your overall results as well. Achieving results require a forward-thinking mindset. This is where the idea of organic engagement comes in. Having loyal fans or a group of people supporting your brand puts you in a more significant advantage.
Why Businesses Should Promote on Instagram
1. Instagram capabilities is now close to matching Facebook’s
A few years back, Facebook CEO Mark Zuckerberg bought out Instagram, and since then, they have leveraged Instagram's capabilities to match that of Facebook's. Now, you can advertise to people and narrow down targeting by interests, age, location, and behavior. This being said, you can now hone into 333,333,333 Instagram users who are likely to purchase your products!
2. Faster ROI with Instagram’s Sales and Leads Tracker
Instagram now uses Facebook's Ads Manager, and because of that, it now has the same tracking and retargeting powers Facebook has.
You now get to check leads, clicks, and conversions so you can measure the cost and effectivity of each campaign. The insights also allow you to track the demographics of people who are interested in your products. Knowing this, you can then assess where you can best invest your advertising funds.
3. Instagram is an Organic Platform
Although Facebook owns Instagram, there are still features that make Instagram better than Facebook, and one of these is an organic platform. This means that with Instagram, you don't have to pay advertising dollars to get more engagement. As a matter of fact, brand engagement on Instagram is 10 times higher than Facebook, 84 times higher than Twitter, and 54 times higher than Pinterest.
Added to this, Instagram users click "like" over 3.5 billion times each day.
4. “Likes” Get Archived and Banked
Another great Instagram feature is its "Posts You've Liked" setting. When an Instagram user likes your post, he is simultaneously saving your posts to his jar of liked images. This means that whenever he would go through his liked posts, he would be able to see your brand, and remember it too!
5. Building Customer Relationship is Easy
Smart business owners can capitalize on Instagram's easy tagging feature to stimulate conversations with people who "liked" or shared their posts or followed their accounts.
Companies that are more transparent with and responsive to their Instagram followers build trust between the potential customers and their brand far better than those businesses who are into one-sided marketing.
What is good about this is that the more trust that potential customer has in a brand, the more likely they are to purchase from that brand.
6. Businesses Get to Zero In on the Likes and Dislikes of Their Customer Base
Sure, you may know who your target market is, but your efforts will not be effective if you do not know how they think or what they want.
It's vital that you understand that your target market is actually real people who have ever-changing likes and dislikes. With Instagram, you can see what content they are drawn to and what content they are likely to ignore. With this information on hand, you would be able to draw a marketing strategy that can effectively attract your target market.
7. Instagram is a Great Platform for Cross-Promotions
Now you know your target market, their likes and dislikes, and their pet peeves. With Instagram, you can use all your data and fuel all your existing campaigns. Whether they are on Facebook, Google, and other social media platforms, you can use your knowledge base to reach out to your potential consumers and retarget them.
The more touchpoints you have with your followers, the more they will believe that they are dealing with a widely-popular brand.
These are just some of the many benefits of Instagram for business. While building your fan base can be hard work, knowing that your efforts will reap considerable rewards in the end, will make it worth all the effort.
Here's An Important Reminder
Instagram is becoming more strict with your activities. Make sure you don't go overboard with following, liking, and commenting. You can read more about that here.
In conclusion, anyone can get their Instagram account monetized, you just need to know how to do it properly. Consider getting expert help with your Instagram Marketing for faster results and better ROI.
You can save advertising dollars if you know how to target your customers the right way. We can help you with your Instagram marketing journey. Reach out and Monetize your Instagram with us today!