5 Ways To Monetize Instagram In 2020

• Date: 20 January 2020
• reading time: 3 Minutes
• Blogger: Rodney Laws

Instagram is a huge platform with a lot to offer. A big user base, great visual content, and an array of dynamic features and functions all make it a great source of revenue for people looking to make money.

If you’ve got a business eye and you’re looking to turn a profit from the social platform, read on to discover five ways to monetize Instagram in 2020.

Sell boosted accounts to brands or individuals

If you fancy a challenge, consider selling boosted Instagram accounts to brands and individuals seeking a quick audience to reach. This is a lucrative option but a tricky one. Building a solid Instagram account takes time, effort, and hard work, but it’s an avenue worth pursuing.

It’s important to pick a specific niche for each one — nutrition, fitness, and so on — so your prospective buyer has a qualified audience they can immediately start selling to. The most popular niches will be the most profitable, so pick wisely.

Create stellar content that is informative, interesting, or insightful, and include relevant hashtags to drive traffic. Use a social scheduling tool to cascade these posts out over time and slowly but surely build your audience.

Don’t buy followers either — this is a short-term method that doesn’t deliver real value, which is what your prospective customers want from their account.

Eventually, this process will get easier and quicker as you identify what works. With time and practice, this can become a solid way of generating revenue from Instagram for you.

Sell your own products via an Instagram sales channel

If you’ve got an entrepreneurial eye, why not set up your own ecommerce store and sell products via Instagram? A multichannel sales strategy lets you increase sales by spreading yourself out across multiple places — Instagram being one of them.

All you need to sell products on Instagram is an online store. There are lots of niches you can pursue for your online store, but the best way is to follow your passion. Find what you love and set up a business around it. For instance, if you love fitness, then you could consider dropshipping fitness products via your online store.

Setting up a home business is easier than ever too, with a plethora of affordable tools and platforms to let you launch an online store. Including your online store with your Instagram is easy — most providers offer seamless integration features as standard — so it’s easy to do.

Sell sponsored posts to brands
One popular way of monetizing Instagram is through sponsored posts. This is a method often employed by influencers and involves promoting a specific product or service in a post (or series of posts) for a fee.

Of course, this all hinges on the size of your Instagram following. If you’ve only got a couple of hundred followers, brands won’t see the value of paying you for a sponsored post.

But on the other hand, you don’t necessarily need to have millions of followers in order to offer sponsored posts to brands.

To really increase your value for sponsored posts, you need to have at least 1000 followers or more. This is the general follower count of micro-influencers, social stars with a modest following but who enjoy a closer relationship with them as a result.

Become an Instagram affiliate marketer

One of the most simple ways to generate revenue from Instagram is through affiliate marketing.

In the same vein to sponsored posts, this involves working as an ambassador for a specific business, promoting certain products on your feed with a trackable link that monitors everyone who clicks on it. For every follower who makes a purchase via that link, you receive a percentage of the sale — simple.

The trick is to use a good, eye-catching photo of your product to hook your followers in. The brand you’re promoting might provide you with a photo, but if not, spend some time learning about good product photography to make yours stand out. Flatlays are an attractive layout that works especially well for apparel or jewelry, for instance.

Once you’ve hooked your followers, write a long-form caption that explains why you love the product and what benefits it can offer your audience.

Share your knowledge and skills

They say knowledge is power, but it can also be a solid source of income too. If you have a special skill — coding, sewing, baking, for instance — then share your knowledge on Instagram.

Use informational content such as explainer videos and helpful infographics and pepper them with relevant hashtags to grow your audience. Once you have a sizeable audience, create a comprehensive training course with an online course creator such as Teachable and sell it online. You’ll need a website for this, but you can link to the course in your bio to drive traffic to it.

It’s important not to give too much of your knowledge away on Instagram — you want people to actually buy your course, after all. Offer enough insights and tips to pique your followers’ interest and showcase your talent, then direct your audience to your course if they want to learn more.

If you’ve got the time and motivation, Instagram can be a profitable 

Conclusion: "If you’ve got the time and motivation, Instagram can be a profitable channel. Follow the tips above and start making money from this creative social platform in 2020."

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• Blogger: Rodney Laws
• at Ecommerce Platforms
• Rodney Laws is an ecommerce platform specialist and online business consultant. You can get his advice for free by visiting Ecommerce Platforms.io and reading his detailed reviews.
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