Instagram isn't just for pretty pictures. It's a really powerful tool for selling in your business.
As a business on Instagram there are a couple of ways you can monetise the platform.
Let's take a look at what they are.
1. The Swipe Up Link
The much sought after swipe up feature.
Once you have 10,000 followers, or if you have a verified account, you can access a swipe up option in your Instagram stories.
This means that you can send your audience to a link directly from your stories by telling them to simply swipe up.
Perfect for sending your audience to your website, your shop, an event or any link you want really.
But if you are not verified or don't yet have 10,000 followers, don't worry, you can still monetise!
2. Shoppable Tags On Posts & Stories
Did you know that you can buy products directly on Instagram?
If you have physical products (not an option for services yet, but might be on the way!) you can use shoppable tags to tag those products on both your posts and your stories, which allows your audience to buy them directly from your content.
Here's what you need to do to get set up:
1. Make sure your account is a business account.
2. Set up a Facebook business page and link it to your Instagram account
3. Create a shop on your Facebook page
4. Create a catalogue for your shop on your Facebook page
5. Once that's all done, go to your settings, tap 'business', and tap 'set up Instagram shopping'.
Once it approves you, you'll be able to tag your products in your posts and stories!
You'll even have sneaky access to a swipe up option in your stories, sending people directly to your shop.
It's been around for over two years now, but the recent updates that allow creators to monetise it through ads, may just take it to another level.
IGTV is Instagrams long form video content.
In May of 2020 Instagram introduced ads in IGTV allowing creators to make money from the content they create (much like YouTube).
What you need to know:
- IGTV ads will appear on your video and run for 15 seconds
- As a creator, you can receive 55% share of all ads
- People will see the ad once they click on the preview for your IGTV on your feed
What qualifies your IGTV for ad placement:
- Your IGTV video needs to be over 2 mins long
- Advertiser friendly (no swearing etc)
- In English with subtitles
- Not violate any intellectual property rule (eg not have music on it that you don't own the rights to).
This is likely to evolve and change over time as it is still early days for IGTV ads. That means it's a great time for you to get going on IGTV content and work on this being an additional revenue stream for your business.
Your Link In Your Bio
With all that said and done it's important not to neglect the original monetisation tool on your Instagram account; your link in your bio.
You can put in one link in your bio which should be the main call to action and purpose of your account.
Make it clear and make it count. Ask yourself what is the best place to send your audience to from Instagram. Is it your shop? Your events page? Your home page?
It's one link so use it wisely!
If you are using Instagram for business, you should start monetising it. Here's how:
Swipe Up Link: you can send story viewers to any link you want using the swipe up feature, once you qualify for it.
Product Tags: you can tag your products on both your feed and in your stories, and even use the swipe up to send people to your shop in your stories
IGTV: you can now earn money through ad revenue as a content creator on IGTV
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