To reaming popular among users, different social media, offer new opportunities. So, nowadays, we don’t think of them as only the means of entertaining or information sharing. Social media have become a platform for different businesses that take advantage of the unlimited ability to reach different segments of the audience, keep in touch with their existing clients, and advertise to a large number of people who may get potentially interested in their products and services. Of course, in 2020 becoming a blogger has a broader meaning than it used to have in the previous decade. Now it’s not only about becoming recognizable, popular, share opinions, meet the new trends, and get engaged in them. It’s also about making money. The algorithms of the social media, and Instagram in particular, are constantly changing, providing their users with a wide range of new opportunities regularly. Besides, social media are becoming more understandable in the means of rules and restrictions, but at the same time, more business-oriented. The influencer market has already become a red ocean with fewer ways to become successful by chance, without an accurately formed and tested strategy. So, now Instagram is more about getting profit than just sharing cute picks with others.
- There are different ways to start making money on Instagram, but at first, you need to work on the general concept of your page. Among the most important steps you need to take to grow the audience are the following:
- Choosing the right concept for the blog, which you are interested in and have a lot to share
- Making up a proper general strategy based on self, competitors, and audience analysis
- Creating a structured content plan, you need to follow
- Well-organized bio
- Provoking active involvement in your posts
- Getting live regularly
Among the main trend of 2020 in means of account monetization are the following:
1) Making money via personal brand
One of the main aims for many bloggers is to promote their personal brand via Instagram page. In this way, they create a certain portfolio on the main fields and cases of their activity, proving the high level of expertise, and giving their followers reason to believe (R2B) for the further services. Business consultants, personal and life coaches, psychologists, family, and couple counselors are among the specialists who are the most active on social media, and Instagram in particular. Operating locally or internationally, they need to analyze the market, define their PODs (points of difference), and build an accurate content plan aiming to involve their audience. No need to Teel that like in any other business, such pages need to be solution-based. People are not looking for shallow promises. Having grown a needed number of followers, these accounts can start offering their paid services, and use their Instagram blogs as a source of self-promotion and income.
2) Selling goods directly on the page
Instagram has become a very popular e-commerce platform in recent years. In comparison to the web-based online store, Instagram shops are easier to maintain and operate and don’t need extra expenses, like the cost of site optimization and additional plugins. Besides, Instagram shops can be easily integrated with the other apps of Facebook family, making the process of promotion and advertising very convenient. For those companies or individuals who want to start selling their own products, or the products they import to the local market, Instagram will be the best choice, especially nowadays, when you can have all your contact information in one place, in your bio. With the help of multi-link organizers, like linkpeak.io, you don’t have to choose only one link for your bio, now you can keep all the contact information in one place. Of course, as any other selling activity, creating an Instagram shop needs a deep market analysis. Again, you need to offer values, not only goods.
3) Becoming an affiliate
Affiliate marketing is also a widespread way to earn money on Instagram. In this case, you sell the goods of other people. You don’t produce them or import, you just carry out the duties of sales representative. For many bloggers, it’s quite a good chance to monetize the account. On one hand, you share the business responsibilities with the company that provides good (they produce goods and deliver them), at the same time, you have a position of brand representative, which can guarantee you profit on a regular basis, as your sales grow. Like in any other type of sales, bloggers should keep in mind that the best strategy is to get the followers attracted, but at the same time, they should avoid spamming or being too annoying. A well-balanced content strategy here is a must.
4) Getting involved in product/service advertising
On the contrary to the previous strategy, in the case of advertising activities, Instagram accounts are not involved in sales directly. They aim to raise awareness about their sponsors, their goods, and services. This is one of the most popular ways to make money on Instagram, and the most famous strategy all the newcomers dream to fulfill. But bloggers should be aware of the quality of goods they promote. Like other social media, Instagram tends to promote sincerity. That’s why before saying yes to an advertising offer, make sure the goods and services you will advertising are worth it. If you are sincere and always tell the truth to the audience, you’ll have long-term success among sponsors too. But promoting a low-quality product can ruin your reputation forever.
5) Creating custom-built content
Some people create content, others buy it. Many big informational blogs are constantly chasing good pieces of content. And nowadays, content is becoming one of the most wanted goods in the digital market. That’s why talented writers, photographers, designers, and analysts can easily make money producing content for other, more popular pages. Again, to be successful in this case, you need a good account strategy, a sense of style, and a well-organized system of posts.