By Cara Vo
While new social media platforms like TikTok or Cameo have experienced dizzying growth in 2020, Instagram remains a staple in the creator toolkit. Mastering the different monetization tools available is essential to succeeding on the platform. Whether you’re an emerging or established creator, we’re here to cover the old and new ways of making money on Instagram.
1. Shopping from Creators
Checkout process for shoppable posts. (Source: Instagram)
Shopping from Creators lets you make your own shoppable Instagram posts and promote brands you’re partnering with. 130 million users tap on an Instagram shopping post every month which shows just how effective this feature is. The caveat is that you can only show up to five products on any of your photos, videos or stories using tags. Brands will also have to approve your account before you’re able to benefit from product tags through an affiliate or sponsorship deal. This is also mainly suitable for creators in fashion, beauty, and other niches where there’s a physical item to be sold.
2. Live Badges
Fans can buy Live Badges during Live videos. (Source: Instagram)
Badges are like "tips" from fans to creators during a Live video. This is a popular form of creator-fan interaction on Chinese platforms like Duoyin, but is still nascent on U.S-based social media platforms. If a fan purchases a badge during a Live video, a heart icon appears next to their username in the comments. Instagram then creates a ‘supporter’ list of those fans which you can view for up to 90 days. There is a limit, however, as each fan can only purchase up to $250 USD per live video.
3. IGTV Ads
IGTV Ads are a great way for you to monetize your IGTV content. Similar to Youtube ads, IGTV ads operate on a revenue-share model whereby creators receive a roughly 55% cut of advertising revenue. These ads are up to 15 seconds long and optimized for mobile viewing in order to minimize disruption of the viewing experience. Since IGTV has been growing as a way to share longer-form content and connect with fans, IGTV ads are a great way to diversify your income.
4. Live Shopping
Products featured during Live. (Source: Instagram)
Live Shopping is a way for creators to tag products when they go live on Instagram. Select products from your catalog before you go live, and fans will be able to view them at the bottom of your live video. From there, they have the option to add these products to their shopping cart without leaving the app. Since IG Live is a great way to engage your followers, Live Shopping has huge potential to strengthen your income.
Jemi gives you complete flexibility to offer fans whatever you want, whether that's a membership, products, or digital services.
If you’re a new creator, Jemi is the perfect place for you to monetize. Jemi gives you all the tools you need to grow and monetize your passions. Jemi allows you to customize your website and store without restrictions, and to share with your followers through a link-in-bio product.
All you have to do is sign up using Jemi’s platform, which is completely free. On Jemi, you can sell anything from products, such as merch, to interactions, such as virtual dates with fans, direct messaging, memberships, Zoom performances, or anything else you’d like.
If you have any questions, please feel free to reach out to us at firstname.lastname@example.org!