Are you interested in starting your own ecommerce business? Well, to create a proper ecommerce venture, you need to establish a social media presence and find a way to benefit from it. Monetizing your social media platform can be a great way to make the most out of it. 

In today’s world, social media platforms have become a valuable instrument for sales and promotion. 

So, in this article, we will show you the most convenient and effective ways to monetize your Instagram account. You will understand how to expand, promote, and make a profit on your social media network. 

How to monetize Instagram? 

Social media networks are among the most visited platforms on the Internet. And because of how popular and widely used they are, they open up a unique money-making opportunity. 

Among the most popular networks, there is Instagram, with the number of users exceeding a billion in the last couple of years.

This in turn means that there are lots of potential customers for you to find and benefit from. However, in order to properly earn a profit off Instagram, you need to know the particular ways to do it. That’s why we will gladly share with you a set of ways to monetize Instagram. 

5 ways to monetize Instagram 

There are many ways to make money on Instagram, however, we have reviewed the most efficient ones. So, here they are! 

Affiliate marketing

Affiliate marketing is becoming a popular way to earn an income. But how exactly does it function? 

If you become an affiliate, you’re going to promote products of your affiliate partner on a long-term basis. And each month your affiliate partner will pay you a commission for your services. The better you promote and the more people buy affiliate products through you, the more you will get paid. Your earnings depend on how many people purchased through your special affiliate link. 

What do you need to become an affiliate? 

First off, you need to find a company that has an affiliate program or is willing to work with affiliates. In the first case, you will need to apply for a program by registering there. In the latter case, you are going to have to contact the business yourself. 

If your goal is to promote various products or services through Instagram, don’t forget that you need an actual account where you will advertise them. 

Once you become an affiliate, you simply describe the products – their advantages and drawbacks. 

Affiliates can have different approaches to product reviews. Some can tell about the product without even having it in their possession. At the same time, others get a test run of the products. 

Remember about your affiliate link? On Instagram, you can only put the link in your bio. By putting a link in your regular posts, it won’t be clickable. 

Although, you can also put the link in your Instagram stories. And don’t forget to add stories with clickable links to your Story Highlights! 

Promote your business 

Having an Instagram account for any business is a must, especially for an ecommerce one. 

To promote your business on Instagram, you need an informative and visually attractive Instagram Bio. Remember that this is the only place where you can put an active link. Use this field wisely and specify who you are and what you do. 

After you have set your Instagram Bio, you can start posting photos and videos of your products. 

So, put hashtags in your posts, shoot videos, and provide discounts to your followers, try to do everything you can to attract more subscribers. 

By the way, you can diversify your content by showcasing how your business works from the inside. This way, you can significantly increase loyalty to your brand. 

Promote other businesses 

It may seem similar to Affiliate marketing, but in actuality, it isn’t. 

Here, it’s all about increasing your audience and promoting other products. When you have at least several thousand followers, you can start such a promotion. The more subscribers you have, the more expensive advertisements on your page will cost. 

Remember that your advertisements have to correspond with the preferences of your target audience. 

Sell training courses 

Another way to create an earning on Instagram is by selling various training courses. 

Though, to do this kind of promotion, it is desirable for you to be an expert in the specific field that you promote. Otherwise, people are unlikely to buy your products. 

Anyway, all you need to do is make posts on a specific topic that interests you on Instagram. It can be anything from pet training to photography, to physical exercises. Anything will do as long as it’s a popular topic with a wide range of potential customers. 

Nowadays, business courses are very popular around the world. And it’s pretty logical, as people always look for ways to make more money. 

However, you have to show that you are knowledgeable in this particular area you have chosen and post lots of content about it. By doing so, growing a following will be much easier to do. Then, you can start writing your own training courses. 

Make sure to put a call to action in the title of your courses, something like: “How to start a business in 24 hours?”. Even though it’s rather straightforward, it works! 

So, put a link to your courses and create a separate page dedicated to them. 

Offer boosted Instagram accounts for sale 

One of the most unique ways to monetize Instagram is by selling boosted accounts. How does it work? 

Firstly, you need to create and grow your Instagram account. The more followers you gain, the higher the price will be. 

One of the most important aspects of this idea is the topic of the account. Among the most popular ideas are those focused on health and nutrition, or maybe cooking, or sports.

You can also start an entertainment account posting different funny videos and photos. 

The main idea behind creating and boosting an Instagram account is making hype content. It’s probably one of the easiest ways to increase your audience. 

When you finally collect enough followers, you can put the account up for sale. After that, you can start anew and so on. Eventually, you’ll get the hang of it and it won’t take you a lot of time and effort. 

Summarizing how to monetize Instagram 

All things considered, here are the top five most efficient ways to monetize an Instagram account: 

• Affiliate marketing 
• Promoting your business
• Promoting other businesses 
• Selling training courses
• Offer boosted accounts for sale

Each one is a little different from the other, so you can choose the one that is more suitable for you. Remember that when you start to boost your Instagram and amass a following, you have a unique opportunity to monetize your Instagram and make a profit of it. Hopefully, this article was informative for you and will hold great value in starting and creating your own business.