Earning money on social media has emerged as a new way in this time and age. Social Networking sites like Instagram, Twitter, YouTube give an opportunity to the users with high popularity to earn money. Accounts with tons of followers, likes and comments are earning a lot from their contents. They are resorting to various ways to have more and more admirers, one of the easiest being buying followers, likes, views and subscribers. Business on social media through followers and likes has been gaining popularity these days as it involves least risk and almost no investment.
Humans: no less than Ravens
Human Beings these days cannot live the way cavemen did many centuries ago. They want choices, which come from money in hand. Almost everyone wishes to have a superior quality of life and be well off. With money in hand, you can easily pay for everything you desire and minimise the constraints on your choices. Money is also required to give your children the best education, best healthcare and a better start in life.
Money implies fewer financial burden and increased standard of living. It is a way to make surviving on this planet possible. Everyone has a different reason to earn lots of money, some wish to travel the world, own a mansion in Hollywood Hills, while others want to just save as much as they could for the future generations.
There are many motivations that drive us towards working hard, some might seek shortcuts, to earn money. That twinge of jealousy you feel while passing by a big house, or when you park your car near an expensive imported one, makes people hungry for money.
None of us can deny the fact that even when money is not the key to happiness, it has its own significance. It may not be everything, but yes, it is something, that something which has a crucial role to play in our lives. Here’s how: If you want to have your own control over your own life and crave out your own path, you need money. With enough cash, you don’t have to worry about having to put food on your plate. It enables you to live to the fullest, enjoy adventures, and try different things.
Followers are the key
Staying active on Instagram and having lots of followers is packed with a lot of benefits. One of the best one is making money out of it. If you have lots of followers, you attract advertisers who pay you bulk if you advertise their products and services. If you crave for fame, you are at the right place. People even make business accounts to reach a large segment of customers. Having more followers means maximum people will get to know about your business, engage new clients and increase your credibility. Instagram Influencers have come up as a new profession. If you have a creative idea or concept, make it popular among your existing as well as potential followers.
One of the recent sources of earning a livelihood is Instagram. An individual or a business firm can easily earn using Instagram as a platform by adhering to any of the undermentioned flawless strategies.
Social Media Influencer
Posting sponsored content as is done by Instagram influencers. All you need for this is an impressive follower count as well as the ability to make people trust on what you are representing. If you have this talent of making each viewer like your brand, content and ideas, then you can easily go for this. You don’t even have to worry about marketing or fulfilling orders. Be yourself and post about the products and services of the brand sponsoring you is all that has to be done. One thing which is to be kept in mind is that you don’t have to just go with your revenue.
Make sure that the company you are working with is authentic, cares for the customers and the goods or services are of reasonable quality. If not ascertained earlier, it may even cost you the trust of your followers and there stands a risk of losing them all at one go. You will have to be very careful about who you are working with and at the very first step analyze whether the brand suits you as well as your fanbase or not!
Affiliate Marketing has gained significance over the years. It is not about just spreading awareness or producing and fulfilling orders, you have to make real sales here if you wish to earn. Recommend your favourite beauty product, clothes, stationery, toys, etc and provide a link underneath to buy the product. You will be paid either a percentage of each sale or a fee. The merchant can easily track the number of sales through your efforts, as the link or any other code is unique to you.
In the present scenario, it is very easy for customers to buy online, therefore Affiliate Marketers are likely to see a hike in their sales. To start with, you will have to decide on the target customer group, like dog owners who wish to have the best collar, leash and food for their pets or teens who want trending shoes and clothes and the list goes on. Secondly, communicate with the merchants or join an ‘affiliate network’. When the deal is finalized, start posting about your favourite item, provide a link to buy the product or a promo code giving discount.
Another way of making money on Instagram is by selling your own products. Instead of promoting other brands, start with yours. If you are already a businessman, going beyond offline marketing and selling on Instagram will obviously help you reach a wider range of customers and give opportunities for your growth and expansion. First of all, decide on the product line which would be beneficial for you.
Thereupon, find a supplier who would manufacture for you. You even need some infrastructure for this like a business account and a product catalogue, your own website to display the products, advertising strategy and a customer care cell. Show your products and services through posts and stories, take the orders, fulfill them timely and give your customers a delightful experience by being efficient in shipping, delivery, returns and other things.
Instagram shoutouts, also known as Insta shoutout or IG shoutout, is the art and science of getting your account promoted by other accounts. To understand it better, let us take an example. Suppose there are two users: A and B. When user A puts up a story or a post which contains the photo or @ mention of user B. It promotes the products and services of user B. Instagram shoutouts have almost doubled in the past few years and are not showing any signs of stopping in anytime soon. Some of the basic ways by which IG shoutout happens are as follows:
Paid shoutouts –
This is a classic method of shoutout. Here, you pay an account owner to post about your brand. If not cash, you can also give away free products and free access to your services to the one who advertises about you through posts and stories. It is more or less the same as Influencer Marketing.
Shoutout for shoutout is an easy and simple approach, without involving cash. They give you a shoutout if you give them a shoutout. It goes like this: user A gives a shout out to user B and user B gives a shout out to user A.
Voluntary shoutout –
When someone is so darn happy and satisfied with your product that they give you a shout out without being asked or paid. It is purely a social service.
Number of followers required
If you are a social media marketer, then instagram has a lot of remarkable opportunities for you to earn substantial sums to fill up your pocket. You have to work hard and build a strong follower base. The whole game revolves around the followers- more your admirers, more your income. Besides this, there are many other micro elements that do their part like creative hashtags, themes, profile settings and lots more. Merely a huge traffic on your account can help you accomplish goals of earning money, increasing sales, business growth and expansion.
There is not an exact number of followers you may require to start earning. Apart from followers, the quality of your content and engagement rates also decide the amount of money you can earn.
Initially you should have at least 2000 followers to start earning some bucks. If you do not have that many numbers, then your chances of career on Instagram are dim. At an early stage of their business on Instagram, influencers with about 200000 followers earn upto 6000 dollars per week with more than 3 posts. On the other hand, if you have a large fan base, that is more than 1,00,000 and you are posting on a regular basis, you can easily earn in six-digit numbers, which implies a weekly earning of more than 3000 dollars. It is more than sufficient to give a kick start to a posh celeb-like lifestyle.
However, you don’t have to lose heart if you don’t have a lot of stardom. People who are now earning millions and billions through Instagram were at some point of time a beginner like you. But with hard work and skill, they are able to shine brightly. You will have to put in a lot of effort initially to set up the business. Some of the proven tips and tricks to increase your fanbase are listed under. Make them a part of your social media strategy if you really desire to have a fantastic career over the Internet.
- Use an eye-catching username for your account. It should be short, sweet and simple along with attractive at the same time.
- Include every important detail about you in your bio. It should be informative enough for the viewers to get a glimpse of what your account is all about.
- Keep on posting and updating your stories regularly to keep your audience engaged.
- Use unique and creative hashtags, not only on Instagram but also on other social sites as well as on offline platforms.
- Collaborate with other popular account holders to make arrangements for giveaways to their followers who follow you. For example, post-to-win, hashtag-to-win, follow-to-win etc.
- Be as creative as you can. People don’t like to see the same kind of stuff every time. Come up with something new and innovative in each of your posts and stories.
- Be deviceful with your content. Come up with your original ideas to keep your existing and potential followers attached and attracted.
Influencer Marketing Platform
Here are some of the Influencer Marketing marketplaces you can be a part of. These platforms tend to bridge the gap between influencers and talent agents.
It is one of the world’s fastest growing self serve marketplace which connects brands and agencies with social media influencers. It has touch with over 60,000+ micro-influencers that global brands can easily connect with. Since its launch in November, 2015, it has been working with 3500+ brands like Disney, Jeep, AMEX, Subway, Converse, Vodafone, and Domino’s Pizza. It is a simple to use application. Brands just have to expose their requirements and within 24 hours, they get responses from a number of influencers.
TBIBE is the ideal marketing platform for your company. Its business model is customer-centric which helps the brands get the best results through its use. There is transparency in the pricing model to avoid any kind of confusion and disputes. The exact information about the rates can be obtained from the vendor itself. TRIBE provides its users a dual system: Influencer Marketing as well as Content campaign. Under Influencer Marketing, influencers will submit photos and videos celebrating your content and you can approve the ones you love and it will be posted by them for their followers to see.
In a Content Campaign, brands get acquainted with content creators, make them generate content for your brand and get it licensed for exclusively your own use. Its user ratings are mentioned below:
- Ease of use- 8.8
- Quality of support- 8.9
- Ease of setup- 8.9
It is a leading platform for media buying, search, reporting, influencer analytics etc. It is a platform for the media industry to search, book, measure and collaborate with influencers all around the world.
Some of the other platforms are
- Hyper Brands
Factors Influencing Your Earnings
Some people earn many millions just with thousands of followers, whereas there are those out there with follower count in 6-digits and earn some thousands. This is because your follower count is not the only factor impacting your income. There are many other variables which have a direct impact on our Instagram reputation and our earnings. Some of them are as follows:
It refers to the number of views, likes, comments and admiration you receive on your posts and stories. The Higher the engagement rate, the more brighter the chances of an amazing career on Instagram.
In order to boost your sales, it is very crucial that you select your target audience carefully, keeping in mind the line you are in, nature of your products, etc. Suppose, the niche of your brand is dog’s essentials, then you cannot target an audience that does not even have pets.
If you wish to be successful in your business, satisfaction of the customers should be your top priority. People would not like to spend money and efforts on sellers who are lazy and never respond to the queries. Vigilant and active marketers are always given preference.
The geography and location of your audience also plays a significant role in determining your income from Instagram. If you have a target audience from developed countries of the world, like America and Europe, you are likely to earn more. On the other hand, with audiences belonging to underdeveloped countries, expecting higher income is an offense.
Giving IG a second thought
Almost everyone wants to be famous on Instagram or become an influencer. But each coin has two different and opposite sides. Even Social Media Popularity has its own advantages and disadvantages.
Some of the advantages are:
Online marketing is strongly developing these days. Big brands will look at your follower-count and hire to advertise their products through their posts and stories, travel around the world to generate International awareness about the brand or dine at certain restaurants etc. If you have the capability to keep your audience engaged and influence them, you can earn a lot.
Almost everyone these days has an account on Instagram, if they are not living under a rock. Becoming famous and tapping the attention of people is quite easy online. Except in some rarest cases, there is no looking back once you gain popularity, if you continue with the same level of hard work and dedication.
Lower infrastructural investment:
One of the important benefits of earning online is that you don’t have to invest too much on land, buildings, staff and other infrastructures. You can even start a business from your home. With lower investments, there stands chances of amazing returns with minimal risk.
The disadvantageous points of using Instagram as a source of income are as follows:
Threat to privacy:
One of the biggest disadvantages of being famous is that you will have to compromise with your privacy. Celebrities cannot do anything hidden from the general public. Whatever they do outside their homes becomes a headline or a widely shared post, be it getting a speed ticket or eating at a restaurant.
Mock-up friends list:
The motive to become famous forces these influencers to accept all the friend requests they receive, whether they know the person or not. Even the general public tends to send requests to such celebs, which cannot be ignored. So, there you have a long list of fake friends!
Spread of misinformation:
If you are famous, whatever you post that will be viewed and shared by millions of people. If by chance it so happens that the information you shared was not authentic, it may spoil your reputation. Most of the viewers blindly share whatever they see, as they trust the social media influencers a lot.
Social media has become widely accessible with almost everyone active on one account or the other on Instagram, Snapchat, Facebook and what not. Some people use these networking sites to connect with the world while others take it as a source of killing time. And yet, there are those first-movers who are earning through these social sites and doing something productive while padding time on social media.
There was a time when Facebook ruled the online world, succeeded by Twitter. But, one truth is that Instagram is best among all. If you have popularity on Instagram, it is obvious that you will have admirers on other platforms as well. It is growing at a tremendous rate, doubling its engagement rate in a short time span. Brands are exorbitantly investing in marketing on Instagram whereas others are working to increase their followers and become influencers.
Initially, don’t start with the aim of earning lots and lots of money. The first and foremost task is to win the trust of your existing followers, gain potential ones and make loyal relationships. Keep them so engaged that they may never leave you. Once you make a strong bond with them, earning money will not be difficult for you. There is no specific number of followers you require to start earning as their other multiple factors playing their own roles.
But, it doesn’t mean you can become rich with a few hundreds of them. Don’t be disheartened, work consistently towards increasing your fanbase. Along with hard work, you need to perform smart work to increase the engagement rate of your account. Be deviceful, creative and unique- this is the only key.