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Instagram has changed significantly: this social network is constantly rolling out new functions, monitors suspicious promotion methods of users’ accounts and aims to become one of the world’s key figures in the e-commerce market. How can you use it to monetize your page?
We’ve prepared a list of the main ways to make money on Instagram in 2023.
1. High-quality paid content
In November 2021 Instagram introduced creator subscriptions. What does it mean? The social network has already started testing the new format. This feature will allow creators to offer interesting information to paid followers. However, if such an update appears on Instagram, users won’t need to close the app, which means the chances of making a purchase are higher. What kind of content can your audience be interested in to pay for it? Maybe it’ll be useful expert information or personal stories.
2. NFT on Instagram: its creation and promotion
Instagram will soon start testing NFT – one of the main trends of recent years. Advertising integrations may become less interesting as there are new ways to monetize social capital. Creating, collecting, selling and reselling art objects is what awaits us in the near future. Adam Mosseri, the head of Instagram, announced that they are testing NFT sharing on this social platform, which means that soon this tool will become available for both Creators and collectors.
3. Information products
Despite the fact that there is a lot of scepticism about online courses, they still generate profits. If you’re an expert, it’s the perfect time to share knowledge with the world and earn. People will choose you if they see that you sell a high-quality product and not another useless course. Also, you can give consultations. Sometimes users don’t want to take a course but want to hear advice. Then you can schedule a consultation and communicate in person.
4. Product promotion via links on Instagram stories
It seems that links on Stories are the most favorite recent update among users. Even if you have a few followers, there are more opportunities for advertising integrations – now users don’t have to find a link in your bio to visit a website. Use this tool as efficiently as possible!
5. E-commerce features
Instagram is becoming a perfect venue for brands. Last year, the social platform launched ads in Instagram Shopping, and now it’s testing visual search to find products from images. Now, if users like something, they will be able to use a special search feature and find several shops with the same or similar products. This is your chance to think through what Shopping tags to add (tags that feature your products on Instagram, similar to tagging people), so that everything is ready by the time the function is released. You cannot miss the opportunity to become one of the first people to use this function for your business.
6. Advertising your other social networks
It’s a good option for businesses to use Instagram as a tool for finding a new audience and building loyalty and trust. And it’ll start bringing money as soon as you share a link to your website or another social platform, for example, a monetized YouTube channel. This is a proven strategy if your budget on Instagram is limited to make it the main source of income.
7. Affiliate Marketing
In the last few years, brands have been more willing to cooperate with microinfluencers with an engaged audience than with bloggers with over-million-strong audience. This trend is still relevant today, as microbloggers have small niche communities which have more advantages for businesses. So if you have a small but active blog and you haven’t started advertising brands yet, then the time has definitely come.
Non-obvious ways of making money on Instagram:
1. More lead magnets.
Don’t be afraid to share expert content for free. If you’re generous, more followers want to stay with you, buy a personal consultation or even purchase an online course. Most importantly, now they trust you and can refer to your free content if it’s really high-quality.
2. The Instagram Collab feature.
In 2021 Instagram launched the Collab feature. Now that you’ve created content, you can tag and invite a collaborator. If he or she accepts an invitation, then this post will be published on two profiles at once. It allows you to double metrics: all the likes and comments of the collaborators. This can greatly improve your reach and profits as now you have more opportunities for advertising, integrations and other promotion options.
Every year, developers add new features that open up new earning opportunities. Use Ninetales to simplify interaction with this social network: create beautiful visuals, plan and auto-post your publications!
