How to Make Money on Instagram
For brands, having a strong social media presence has been important to success for more than 10 years now. But in 2019, you can actually make money on the Instagram app with shoppable posts and call-to-action features.
By showcasing your brand through vibrant, high-quality photos and interacting with users, you can grow your customer base and increase sales.
It’s more important than ever to enable shoppable posts that integrate with your existing software to give your company another avenue for revenue. According to Instagram, more than 200 million users a day visit one or more business profiles, so you’re going to want to grow your Instragram audience and take advantage of all Instagram has to offer to get new customers.
Here are some ways you can help your company make money on Instagram:
Set up an Instagram business account
It’s free. First, create a standard Instagram account. Then, in the app, find your settings and scroll down to “Switch to Business Account.” Once you have a business account, you can add more information about your business, such as location, etc. Setting up a business account can also help increase your brand’s legitimacy among your potential customers and enable your team to take advantage of Instagram features only available to businesses.
Use a call to action
Once you’ve set up an Instagram business account, you can add a call-to-action (CTA) button to your profile page. The CTA integration can help you reach new customers without adding work for your team.
Set up shoppable posts
Instagram recently released a great feature that allows users to buy a product without leaving the app. Let’s say you’re a clothing store, and you have a picture of a woman in a pair of black jeans walking her dog. Users can tap to view the products and then purchase them directly in the app. You can sell products through posts and stories once you’ve been approved for shopping. You also need a connected Facebook page to enable this feature.
Use Instagram ads
The average Instagram ad costs $0.70 USD to $1.00 USD per click. Some may go up to $3 USD a click depending on the industry. So you want to set a budget for your company. These ads are targeted to users. The good news is that among all the online platforms, Instagram ads have the highest engagement level, which means your return on investment should be high, according to Forrester.
Find brands you can partner with
On your account, follow brands that are competitors, but also those that are adjacent to your products or services. Observe other brands for some time to ensure their values align with your brand’s. Once you’ve identified the right partner, you can reach out and create a mutually beneficial relationship. Partnering with brands of similar follower counts helps both brands increase exposure to new followers — and ideally increase sales.
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