I recently wrote an article about leveraging Instagram for your business needs. Click here to learn how to use Instagram for your business.
Now that you’ve read about Instagram Business, let’s talk about ways that you can monetize Instagram.
The first step is to leverage affiliate marketing by using affiliate networks. Affiliate marketing is entirely free, and you get paid for every sale you make. You don’t need to worry about inventory or customer service, which frees up your time to pursue more value-adding business activities while also monetizing your Instagram. Affiliate marketing is ideal for people who are just getting started and don’t want to invest significant time, money, or other resources until they’ve secured a proof of concept.
The second step is to implement drop shipping into the mix. Drop shipping is an organic progression from affiliate marketing, requiring a little more time and effort within the selling process. You don’t need inventory for drop shipping, but you’re now responsible for customer service. Additionally, you’ll need a sales platform to perform business. Amazon, eBay, and even a designated website can work as your sales platform. Drop shipping is ideal for those of you who have a proof of concept and want to get more directly involved in selling.
The third step is to develop your own product and brand. Just like drop shipping is an organic progression from affiliate marketing, product/brand development is a natural progression from drop shipping. Don’t get me wrong, affiliate marketing and drop shipping are great opportunities to increase your income. However, many of their sale items carry relatively low margins. On the other hand, when you develop your own product and brand, your margins are tremendously higher.
Granted, this third step requires more work than the first two, which is an understandable payoff for the increase in margins. Once you have a proof of concept and you’ve developed a genuine interest in selling and entrepreneurship, product/brand development is an extraordinary way to boost your income, your reputation, and your network.
Don’t just use Instagram for your personal life.
Don’t just use it for business awareness.
Monetize Instagram! Use it as a tool to enhance your financial wellbeing, which will provide you with more freedom and opportunities to pursue your professional interests.
If you’re looking for help with monetizing your Instagram, look no further than us - The Five Day Startup! If you need help using Instagram to monetize your business, The Five Day Startup provides a cost-effective, holistic solution tailored to your individual needs.
Check us out here and let us help take your Instagram game to the next level! We look forward to serving you and empowering you to use Instagram effectively and profitably.