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How To Make Money On Instagram And Grow Your Business Socially

Published: April 2, 2020 Updated: April 6, 2020

If your business is not getting social in 2020, you may find it hard to meet your business growth potential. The truth is, social media is essential for businesses, just as much as it is for the billions of people that use it as a social network. If your business is not thinking socially, it is definitely time to start. 

Instagram is one of the best social media networks to do this. Sure, Facebook is still worth pursuing, but many businesses, large and small, are missing out when it comes to Instagram. 

Here are a few important business minded statistics from Hootsuite you should make note of:

  • Instagram’s ad reach is in excess of nearly 850 million users
  • 500 million Instagram users view Stories daily with one-third of Stories viewed being from businesses
  • 200 million Instagram users will view at least one business profile every day
  • Over 75 percent of businesses will use Instagram in 2020

 

If your business is not using Instagram to make money and grow your business socially, you can bet your competitors are. This is why we compiled a few “How to make money on Instagram” tips for your business to leverage in 2020. Ready to make more money? Keep reading!

Start by making the most out of your Instagram business profile

This is an important place to start if you want to make money on Instagram and grow your business socially. And if you don’t have an Instagram business profile, you should probably set one up today. 

Creating an Instagram page for your business is actually pretty painless. If you already have a Facebook business profile, simply sign up for Instagram by using your Facebook business profile. It’s that easy. And if you don’t have a Facebook business profile, you can still create an Instagram page, but you should probably get a Facebook page for your business squared away immediately.

Once you have your business profile up, you will need to ensure you have some best practices in place. First, you want to have a great description with a call to action.

Here’s a great example from GoDaddy . . . 

You also need to have a link for Instagram users to learn more about your business . . . 

You will see that GoDaddy linked to a special landing page to give Instagram users more options for exploring their business, products, and/or services. 

Now since Instagram Stories are trending, especially for businesses, you should create a number of Stories for your Instagram page as well.

Here’s how Nike did it . . .

 

With the best practices in place for your business page, it’s time to enlist influencers to help get your business in front of more Instagram users. 

Work with professional Instagram influencers to help your business make money on Instagram

Influencer marketing is certainly nothing new. However, many businesses fail to leverage this powerful way to make money and grow their business socially. Working with influencers is also a must if you want to grow your business socially, especially on Instagram.

 

Here’s a great example from micro-influencers @sweatandtell of how influencer marketing can make a big difference for businesses . . . 

 

With nearly 2,000 likes and over 30 comments, the above post is certainly boosting that businesses online visibility via social media. 

 

In many respects, Instagram is the influencers’ platform. And with 200 million Instagram users viewing at least one business profile daily, influencer marketing is essential. However, it is critical to know how to find, qualify, and collaborate with influencers to get positive ROI on your business’ influencer marketing campaigns. 

Here are a few essentials when it comes to working with Instagram influencers:

  • Finding Instagram influencers. There are a few ways to find influencers to make money on Instagram and grow your business socially. First, be aware of fake influencers, because they do exist. One of the best ways to find the right influencers is to look at an influencer’s engagement. If they are posting regularly and truly engaging with their audience, you can bet they are real. You can also find influencers that are already promoting your competitors.

 

  • Qualify potential influencers for your business. This can be done by looking at an influencer’s engagement. But you can also qualify an Instagram influencer by looking at posting frequency, number of comments per post, and you can also ask any potential Instagram influencer to give you analytics for previous campaigns they have done for other businesses.

 

  • Collaborate effectively with influencers. To ensure your influencer marketing campaign gets the best results to make money on Instagram and grow your business, you need to collaborate effectively with your influencer. For example, tell the influencer your goal for the campaign, such as more sales, or greater brand awareness. Then let him or her develop a few ideas, and truly listen to what they recommend. After all, Instagram influencers know what is best.

 

Here’s a great example from micro-influencer @SamanthaKozuch, promoting a business’ product . . . 

Use the right medium for your business’ Instagram influencer marketing campaign

This is very important when it comes to how to make money on Instagram and grow your business socially. You did your due diligence, found great influencers to promote your business, product, and/or service, and you are now ready to post for your campaign. But what style of post, medium, is best.

Well, the top type of post on Instagram is video. Did you know that within the first 24 hours of Instagram launching, five million videos were posted. And videos definitely did not stop there. For businesses, video posts can generate serious revenue. In fact, sponsored Instagram videos get three times more comments than photo posts.

 

Here’s a brand/influencer video post from @kateogata . . . 

 

This post racked up over 27,000 views for top brand Tiffany & Co.

Video posts by Instagram users have also exploded since the inception of Instagram Stories. Some of the top influencers on Instagram post in excess of seven Stories per day.

 

Here’s a great Instagram Stories example from @lilmanlife . . .

What do businesses need to do? Work closely with influencers to make great video posts. Often times when choosing which influencer to collaborate with, you will see that he or she already has plenty of video content.

Make money faster on Instagram and grow your business socially with Scalefluence

If you want to really capitalize in 2020 using Instagram, or any other social media network, you may want to consider getting help from the pros. Scalefluence is an influencer marketing platform that works with a number of top brands. We know how to grow your business socially and connect your brand with the right audience.

Our network of reputable and professional Instagram influencers and micro-influencers have been thoroughly vetted. They have a track record of positive ROI results based on easy to digest analytics and influencer marketing campaign data.

Join Scalefluence today and let our influencers connect the right customers to your business for maximum sales.

 

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