10 sure-fire tactics how to monetize Instagram
Instagram has exploded in growth over the last few years and it now has over 1 billion monthly active users, and 500 million of them use the platform daily, according to Statista. With all those users comes the potential for a lot of merchandise sales. Check out our steps below on how to monetize your Instagram profile, make more money, and achieve all the things that you set out to achieve with your account.
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How to monetize Instagram. What the numbers tell us
Firstly, even if you’re not yet monetizing your Instagram account, you might want to consider it. 77.6 million of the over one billion Instagram users are from the united states. 70% of users look up or are following at least one brand on Instagram. Users are trying to discover their favorite and new brands on Instagram to learn more about products.
78% of Influencers Prefer Instagram for Brand Collaboration.
User-Generated Content Has a 4.5% Higher Conversion Rate.
Personal Instagram accounts had an average of 150 followers – in 2015, when it was three times smaller!
Use influencer marketing for your own brand, not others!
Traditionally, influencers on Instagram have monetized their account by showing off third-party products. An Instagram account focused on makeup, or fitness, or even some specialty markets will charge for promoting a product on the account. Third parties will pay influencers to display their products or to show themselves using the products so that their audience can see that the influencer recommends this and that he or she is using the product. This can be a great way to make extra money, but there are some downsides.
Take a look at the user engagement on branded profiles on Instagram vs Facebook. It’s no secret that Instagram holds an edge on Facebook when it comes to visually engaging subjects, such as fashion and beauty.
In fact, most brands, in general, have higher engagement on Instagram vs Facebook, which makes it incredibly attractive for brands of all kinds. Engagement is the key to knowing how to monetize Instagram!
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