How to Monetize Instagram Effectively in 2020

If you’ve been on Instagram long enough, you’ve probably worked hard to build a successful following. So, you might as well turn these followers into a successful business.

There are some ways to turn your Instagram followers into financial gain.

Let’s look at ten ways you can do this.

1. Become an Influencer

 
Become an Influencer

Influencer marketing is one of the most successful marketing ventures online these days. However, it’s not easy to become one, and if you do it all by yourself, it can be a long, hard road.

That’s why you should use the help of a growth agency like Stellation Media. They can boost your following naturally and quickly so that you can reach your goals in a shorter amount of time.

If you need to buy some followers to get you off the ground and running, you should try out SocialShop. It’s smart for users to give their account a quick boost with SocialShop, to give them social proof.

2. Start a Marketing Consultancy

 

If you don’t want to be an influencer yourself, you can also get paid to help other people become influencers. There’s a lot of room for growth in this niche, and a lot of potential clients out there. Many people want to learn how to become a successful influencer, and if you’re naturally talented in this field, then you’ve got yourself a successful business idea.

Reaching out to brands on Instagram that are small or medium-sized through direct messages is a great place to start. You can also use freelancing sites like Upwork to find businesses that are themselves looking for some assistance with their social media marketing.

You can even reach out to existing social media marketing agencies and ask if they need any help.

3. Start an E-commerce Store

 

It’s no secret that Instagram is the platform to use if you want to launch and brand and product online. Many people have taken advantage of this social media site and are doing well getting their products out there for the world to see.

Instagram’s unique visual platform is attractive to potential customers. It’s a great way to show off new and exciting products in a way that is going to draw people in. Instagram also works with e-commerce brands to make their lives easier online, like creating a ‘buy now’ button.

Instagram is always coming out with new features that favor the seller, so keep a lookout for ways that you can continue to boost the popularity of your e-commerce business.

4. Launch a Lifestyle Brand

 

A lifestyle brand is different from e-commerce business. This is because a lifestyle brand is typically selling and providing products and services for a particular niche in the market and a group of people who want to live that way.

So instead of just offering two or three products, they build an entire shop and company around a particular lifestyle, like the outdoors, for example. Once again Instagram comes out on top as a great place to showcase this kind of brand, where visuals are essential for invoking people’s emotions about a certain way of life.

It’s also a great way to grab the attention of an entire community – you can launch promotions and even set up community events around your particular targeted niche.

5. Develop a Media Company

 

If building an e-commerce store or developing a lifestyle brand isn’t for you, you can always use your space on Instagram to promote other people’s brands by launching a media company. You can sell ad space on your Instagram page, depending on what your audience is into and looking for.

It doesn’t matter how big or small a media company is. They’re almost all on Instagram and taking advantage of that space to share important videos, quotes, and photos of your favorite brands. It’s a lucrative way to promote somebody else’s business without having the overhead of physical products to sell yourself.

6. Become a Professional Storyteller

 

If you’re somebody who loves a good story or loves telling a good story on Instagram, then you might want to turn this into something that can make you money. If you already use your Instagram to tell stories through the different mediums of photos, videos, and captions, then this will be a smooth transition into a lucrative venture.

Simply put, your job would be to develop content online on behalf of other brands. It’s slightly different from a marketing consultant because in this case, you would be doing the work that you advise your clients to do in your consultancy business.

This type of Instagram monetizing can be as lucrative, however. If you’re creative and like to do the work yourself, this is the perfect venture for you.

7. Charge People for Gated Content

 

If you’ve worked hard to develop a large, loyal following, they probably won’t mind if you start charging for longer form content. This is a great way to ‘tease’ your Instagram audience, and give them a little snippet of your product before encouraging them to purchase the whole thing.

If they already love you and what you do, it won’t be hard to convince them through this method of promotion. If you’re a video or short filmmaker, you can use this medium to develop longer content that you sell through your existing shorter content, which will encourage people to want to know all about your long form content.

8. Start Speaking Professionally

 

If you do well in front of crowds, you might want to consider taking your Instagram brand on the road. It’s been recently estimated that the average professional speaker earns $6000 per speech they give.

If you’re truly passionate about your particular industry and talking about it comes naturally to you, this can be a great way to build your brand and encourage people to find you on Instagram. There are quite a lot of opportunities for guest speakers to come along and promote existing brands, also – and even events based on these brands.

It’s a cycle of success – becoming a professional speaker can land you more exposure online, which in turn can get you more speaking jobs.

9. Land a New Day Job with your Following

 

If you work a day job and do your Instagramming at night, you can bring that down into the daytime and use it to leverage yourself into a better position at work or a new job entirely. You can approach your existing employer with your Instagram account and show them the influence you have online.

You can also do this with a potential employer, and put yourself out on a limb. You never know, they might be so impressed that you end up landing your dream job in real life because of the success of your virtual life.

10. Develop a New Product or Service for your Audience

 

Once you’ve established the kind of brand and product you want to market, the work doesn’t stop there. You’ve got to continually be analyzing and experimenting with different ways of marketing to figure out what is working for you and what isn’t.

Getting to know your Instagram audience is one of the most important things you could do. This way, you’ll know what they’re looking for in a product from you, which means that when you go to develop your next product, you’ll have them in mind. Each time you do this, it will get easier to market the new product – soon you won’t even have to try. They’ll want it before you’ve even started to distribute it.

Conclusion

 
Instagram is a community of people who are either consumers or influencers.

Instagram has already made a lot of people’s dreams come true when it comes to launching a successful business through their platform. Assuming you are prepared and capable of building a loyal, large following, you could soon be one of these people.

From developing new products to being a marketing consultant and building an e-commerce brand, there’s nothing you can’t achieve and not monetize if you’ve created a strong, prosperous following on Instagram.

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My diverse background started with my computer science degree, and later progressed to building laptops and accessories. And now, for the last 7 years, I have been a social media marketing specialist and business growth consultant.

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Jonathon Spire

Jonathon Spire

Tech Blogger at Jonathon Spire

My diverse background started with my computer science degree, and later progressed to building laptops and accessories. And now, for the last 7 years, I have been a social media marketing specialist and business growth consultant.

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Jonathon Spire

I blog about a range of tech topics.

For the last 7 years I have been a social media marketing specialist and business growth consultant, so I write about those the most.

Full transparency: I do review a lot of services and I try to do it as objectively as possible; I give honest feedback and only promote services I believe truly work (for which I may or may not receive a commission) – if you are a service owner and you think I have made a mistake then please let me know in the comments section.

– Jon

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