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3 Genius Ways to Make Money on Instagram
We are talking social media today friends and the network of interest is…Instagram!
I love Instagram. It was the very first social network I was super successful with. I built my first store to over 90K followers and my second and third stores to 38K and 6K, all pretty quickly. I was running multiple stores and making a lot of money on Instagram!
I’ll tell you how I did it, along with some other cool ways to earn money on Instagram!
Buckle up, whip out your notepad for note taking and lets get started.
3 Killer Ways to Make Money On Instagram
The 3 main ways to earn are:
- Selling goods
- Selling services
Selling goods on Instagram
Have you ever seen those amazing Insta photos in your feed of those cool girls wearing cute outfits? Almost like models but they’re real girls who are influencers. Well now, you can buy those outfits, right on Instagram.
Theres been a huge rise of Insta-boutiques flooding Instagram (psstt..I was one of them) selling everything from women’s apparel to kids clothes or electronics.
There are a few companies that offer this service to businesses. It’s called comment selling. A customer will browse their feed in Instagram and if they come across a store selling on the platform, typically they just comment with their email address, which triggers a private email invoice to be sent! How cool, right?
Now, you can actually make A LOT of money doing this. Consider this example:
You run a fashion jewelry Insta-boutique and sell 5 pieces a day at $30/each. That adds up to $150/day or $$4,500/month. That’s just on 5 pieces a day. Imagine if you sold more!
There are boutiques earning thousands daily from selling to their audience.
Here are some things you’d need to be successful:
- A nice sized engaged, targeted audience: this means your followers know you sell and buy from you.
- A company that offers comment selling or similar, to accommodate your Instasales.
- A business that you run to fulfill the orders, talk to customers, store inventory, etc.
My Insta-boutique story
I didn’t actually start on Instagram. I migrated to the platform and started using it more, after my store was open on Shopify for about a year. I kept seeing these events that were running where brands would link up, support each other, and as a result, grow like a crazy (later known as round robins or loop giveaways).
I started with 2K followers and after a year, has around 90K followers. It was a TON of work but totally worth it.
It was a great experience and I made a lot of fun friends and learned a lot during the process.
Selling services on Instagram
This means you are providing a service and getting paid. For Instagram this is usually through shout out services.
A paid shout out is where you pay a popular Instagram account to post on their feed, mentioning your Instagram account or business. Doing this puts your account in front of a new audience, with the potential of growing your followers and getting sales.
These shout out services usually charge $30-$600 per shout out and are offered by huge accounts (200K+) with thousands of likes per post.
If you have a high following account and decide to offer shout outs, on the low end, if you book 2 shout outs each day at $30 each, you’d earn around $1,800/month. Not bad for 10-20 minutes of work per week.
This is usually done by bloggers or influencers. You would work with a PR company or network usually and they’d match you with brands to work with. You promote a product or service on your feed and get paid. You can also do this by yourself, without using a PR firm or network.
If your sponsor rate was $100/post and you booked 3 per week, that’s a cool $1,200/month.
There you have it! 3 Ways to Make Money on Instagram. Do you earn on Instagram? Share your story down below.