One billion people use Instagram monthly. This social network is growing five times faster than the overall usage of the network in the United States. With huge numbers come significant earning prospects. Do you have an Instagram account? You can start earning with it already. Read on, and we will tell you how.
The choice of niche determines how challenging it will be to promote your account and how much you can earn from it. It's not recommended to choose popular niches as they have a lot of competitors. Such accounts are difficult to promote and earn little unless millions are invested in promotion. It's easier to work with a narrow niche, for example, ukulele lessons. There are fewer competitors, but it's easy to find an audience. Advertisers will reach out to you: online music stores, educational courses. This is one example of a good theme for an Instagram account.
People first buy with their eyes. A consistent account style, well-written descriptions, and a profile picture are the keys to success. You don't need to order a design or learn to draw to create a beautiful account layout. The service Canva allows you to choose post designs from thousands of templates in just a few minutes. Don't forget about your username and account name; they will greatly help in search results if they match key queries.
If your niche is narrow, you'll need around 1,000 followers to start. There are two main ways to gain followers in the beginning:
Do you have your first 1,000 followers? Reach out to your competitors and propose mutual promotion. It's a good way for free promotion.
Monitor your competitors' accounts. When they start running ads, find their contact information and reach out to offer ad purchases. Work on crafting a persuasive offer, you can even hire copywriters for a compelling text.
Upload your account to Instagram advertising exchanges. Potential advertisers can be found there. How much should you charge? Base it on the reach and engagement of your audience. A commonly used formula is to divide the reach by 10. This applies to an audience engagement of 30-40%. Invest your initial earnings into channel development to increase your audience and income.
For 70% of Instagram users, it's merely a social network for entertainment. The remaining 30% understand that it's a good tool for earning. Some may think that managing an account in 2023 is no longer relevant, but they are mistaken. There are still niches to break into and reach the top. While the opportunity exists, you should take action.