There are many platforms that people use to make money. While payment processors, content management systems (CMS) and customer relationship management (CRM) software are some of the most important aspects of a business, social media also plays a huge role in making businesses successful.
However, unlike the technical aspects of businesses, social media platforms do not have functions that are strictly defined.
I’ve seen businesses that run entirely from their Instagram accounts. They advertise their products, accept orders and communicate with their clients all from a single Instagram account.
Put simply, you can use social media for pretty much anything! For example, I use Facebook to promote this post
Today, I’m going to show you how to make money on Instagram using 3 simple ways.
1. Influencer Marketing
Nowadays, whenever a person mentions influencer marketing, Instagram quickly popups on my mind.
Instagram is the home of people who prefer to express themselves using photos and videos. Just like I do very well when it comes to words, photography and videography are their preferred methods of expression.
Unsurprisingly, Instagram grew in popularity in its younger days exactly because of this new approach to social media. People love eye candy and Instagram has it by the terabytes.
As an entrepreneur, you can take advantage of this and make money by posting a lot of good content, gaining a ton of followers and hopping on to the influencer marketing money train.
What Is Influencer Marketing?
It is a system where businesses approach popular social media accounts and ask them to market their products in exchange for some compensation, which can be either a flat fee, a commission, or a combination of both.
How Hard Is It to Become an Influencer?
At first glance, becoming an influencer might seem pretty easy but it actually isn’t. You may have a meme account with hundreds of thousands of followers but still fail to make even a single shilling from influencer marketing.
The reason why this happens is that brands look for influencers who are trendsetters. Influencers aren’t just people with many followers, rather, they are people who have a good image and integrity in the eyes of their followers. Influencers are people who other people trust and look up to as a source of knowledge and expertise when it comes to a specific subject.
Are you such a person?
Do your followers trust in your guidance and listen to your opinion?
If you answered yes to both questions, you can definitely make money from influencer marketing even if you have only 1,000 followers.
At the end of the day, influencer marketing doesn’t really depend on the number of followers you have, rather, it depends on whether you inspire confidence and trust in your followers.
2. Affiliate Marketing
Although affiliate marketing is somewhat similar to influencer marketing, there is one fundamental difference between them.
While influencers are paid for advertising brands’ products on their behalf, affiliate marketers are only paid when they make a sale.
Personally, I’ve never had much luck with affiliate marketing. As I said, I’m way better at blogging than making sales on social media.
Affiliate Marketing in Kenya
The main challenge that affiliate marketers face in Kenya is, well, people don’t trust them. For example, most Kenyans would prefer to buy a phone from a physical store as compared to buying it online through an affiliate marketer.
However, all hope is not lost. Although most people are generally skeptical when it comes to buying valuable items online, they are also more likely to buy other stuff through an affiliate.
A great example of this is the sponsor videos that many YouTubers put at the beginning of their videos. What are you more likely to buy- a $12 VPN subscription from a YouTuber or an expensive phone from your friend’s Facebook timeline?
Do you see my point?
The lesson we get from this is that affiliate marketing in Kenya is possible. As long as you find the right product to sell, you will most likely succeed where others have failed.
Let me know in the comments if you’ve had any success with affiliate marketing in Kenya!
3. Selling Your Own Products
This may sound like a no-brainer but any entrepreneur will tell you that the first $100 they made in sales was the hardest.
Just like I said in my article on how to make money in Kenya
, I believe that using social media is a very powerful way to make sales. I even talked about the 20-year-old lady who made $1,000,000 in sales in 8 minutes though Instagram in May this year- it’s all in there in my article.
Is It Worth It?
Setting up your own brand on Instagram has so much potential that I’m still looking for a person I can partner up with for such a project. Do you have a ton of followers? Are you an IG star? Hit me up and we can work something out.
As a matter of fact, setting up your brand on any social media platform has a lot of potential. It all depends on your target market. Facebook is mostly used by older people while platforms such as Instagram and Twitter are mostly used by younger people.
As I said earlier, it may seem like a no-brainer because most people just see the Instagram marketing part. Setting up a brand takes a lot of time and preparation.
Have you done market research? Have you pre-launched your product to a small group of people and used their feedback to improve it? Do you have a sound marketing strategy? Have you thought about delivery methods and other logistics?
With a sound plan, you could make a lot of money by setting up your brand on Instagram.
Instagram Has a Lot of Potential
Just like any other social media platform, there are many products and services that get a lot of sales from Instagram.
All you have to do is to find the strategy that works for you and sales will start rolling in.
Have you made money on Instagram before? Tell me about your experience in the comments!