(photo credit: INGIMAGE)
(photo credit: INGIMAGE)
Influencer marketing has had a transformational impact on how brands advertise their products and services. Despite the fact that influencer marketing is not even a decade old, it has made brands switch to a new type of advertising that is more intimate and targets a specific audience.
If you are familiar with Instagram marketing, you probably already know that Instagram influencers are people who have fashioned micro or macro communities that revolve around their life, persona, or certain expertise.
But, have you ever wondered how Instagram influencers monetize their feed and generate income? Here are the details.
There are two factors that hugely determine how much money an Instagram influencer will make. First is the number of followers, and secondly, the rate of engagement. But, the question still remains. How Instagram influencers generate income?
Brands partner with Instagram influencers who produce quality content in their niche, as it gives them direct access to their target audience. Hence, one of the most popular ways in which Instagram influencers generate income is through sponsored posts. Sponsored social media posts are posts for which Instagram influencers are paid by brands to promote a particular product or service. Furthermore, acquiring Instagram accounts from influencers by small companies is another way that new influencers generate income, according to Social Tradia.
Now there are different ways in which Instagram influencers can make a sponsored post on their feed. They can dedicate the entire post to one product, talk about multiple products at the same time, feature product reviews, or even just tag the products.
The second most prominent way in which Instagram influencers generate income is by becoming a brand ambassador. Making money through sponsored posts and being a brand ambassador is different in the sense that the latter is most likely to be a contract of an extended nature. As a brand ambassador, Instagram influencers receive free products from the brand, which are used by them for promotional posts on their feed. When it comes to collaboration with brands, Instagram influencers are either paid a separate fee for every piece of content they create or go by a fixed clause.
As an Instagram Influencer, you can also make money through affiliate marketing. In this type of marketing, Instagram influencers are given a unique link or code by brands. In order to make money through affiliate marketing, Instagram influencers create promotional posts on their feed and direct their followers to use a unique link or code. Brands track these conversions. So, the more the conversion rate, the more commission influencers receive from the brands they’ve collaborated with for affiliate marketing.
Nowadays, there is also a trend of co-creating product lines within the community of Instagram influencers who have successfully built a strong follower base. This trend is gaining popularity as it gives Instagram influencers a chance to generate a steady income. For instance, there are a number of brands that look forward to collaborating with top influencers and want them to co-create products for their brand niche.
This type of marketing requires Instagram influencers to get involved in the process of creating products for the brand. This new kind of influencer marketing works well for both brands and influencers, as it benefits both by having their names associated with each other. On the whole, the impact is bigger with promising financial benefits.
So, these are some of the most prominent ways in which Instagram influencers generate income while following their passion in a certain field. But, one factor that brings it all together to make you a successful Instagram influencer is the quality of your content. Content is the king. And there is absolutely nothing that can replace good quality content to use this platform as a means of generating a steady income.