By Frank Kamuntu
Instagram, also known as IG or Insta, is a photo and video sharing social networking service owned by Facebook that was founded by Kevin Systrom and Mike Krieger and first launched on iOS in October 2010. In April 2012, the Android version was released. Unlike some other social media platforms, Instagram is a disruptive ecommerce force.
Instagram had one billion monthly active users as of June 2018. While it was originally intended for photo sharing, it is now a business platform that anyone, including dropshipping ecommerce business owners, can use.
You might be wondering if you can make money on Instagram. How do Instagram users make money? What distinguishes selling on Instagram from other types of ecommerce businesses?
In this article, we’ll go over detailed strategies that you can use right away to start making money on Instagram in 2023.
To begin, here are a few ways to make money on Instagram:
You could focus on sponsored posts for brands looking to reach out to your audience, making you the ideal medium to do so.
You could become an affiliate and make money by selling products from other companies.
You could also sell your own products, which could be physical, digital, or even a service. Essentially, you can sell services and products in the same way that you would in any other ecommerce business environment.
Sponsored posts: You can work with brands and businesses to promote their products or services on Instagram. Brands will pay you for the sponsored post, which could range from a few hundred dollars to several thousand dollars depending on your following size.
Affiliate marketing: You can use Instagram to promote products and earn a commission on sales made through your unique referral link. You can join brand affiliate programs or affiliate networks such as ShareASale, Clickbank, or Amazon Associates.
Sell your own products: You can sell your own products on Instagram if you have them. It’s an excellent platform for showcasing your products and reaching a larger audience.
Sell digital products: On Instagram, you can sell digital products such as e-books, courses, or printables. If you have expertise in a specific area and can create valuable content that people are willing to pay for, this is a great option.
Provide services: You can use Instagram to provide services such as photography, social media management, or consulting. Use your Instagram account to attract potential clients by showcasing your work and expertise.
Run sponsored giveaways: You can run a sponsored giveaway in collaboration with other Instagram users or brands. This can help you increase your following and engagement on your posts.
Sell shoutouts: If you have a large following, you can charge other users or businesses for shoutouts. For a fee, you promote their account or product to your followers.
It is critical to understand that making money on Instagram takes time and effort. You must establish yourself as an authority in your niche, build a loyal following, and create engaging content. After that, you can begin monetizing your account in a variety of ways.
