Instagram is currently seen as one of the most diverse social media platforms for people. Boasting billions of users, an app like Instagram easily catches the eye of special users; businesses. The presence of businesses and users on the same platform does make for an appealing business opportunity for investors. Many chances to earn are evident.
Through Instagram, we now know that there is a large sum of money that can be made. But, what does the future of earning from your Instagram users look like? Here are a few ways how earning through your app may change in the future.
Placing a range of advertisements through various formats is currently Instagram’s largest grossing method for revenue generation. The company collects billions of dollars through advertising every year. So definitely can you, if you choose to!
Though there are so many methods of earning through advertising, there are ways to future-proof this earning method. Users are becoming increasingly frustrated with annoying and overly intrusive advertisements.
Partnering with businesses to display their ads on your platform makes for an alluring financial proposition. Sponsored Instagram ads allow decent earning and forming a long-term connection with successful companies.
By definition, native ads appeal as natural-looking advertisements. This means it almost looks as if they were meant to be on that page. More revenue can be gained through these types of ads if they are made discrete and slightly more targeted.
That is if they are to attract the right people!
In-App Video Ads
Instagram is known for its videos, be it short video snippets (reels) or videos, Instagram users love watching videos. It would be smart to add a short ad in between longer video formats. Because users like videos and genuinely want to watch them, they won’t really mind a short ad every now and again.
eCommerce Industry On Instagram
Ecommerce is a bright prospect and you should look to unlock the full potential of eCommerce in your Instagram clone. Businesses will be willing to get chances to market their products on your app if there is a huge user base. This also means they would be willing to pay more!
What makes eCommerce such a great revenue generation option? Businesses will be drawn to your platform because of the opportunities it offers (users). When a popular brand connects with and grows its audience, it facilitates interaction for your app. This appears as content.
The more brands interact with users, the better for your app! It increases your user base in terms of numbers and diversity. Eventually, you will have a higher chance of earning through your app with such a vast audience.
So what are the future trends of earning from eCommerce through your Instagram clone?
Instagram is just coming round to the fact that users can purchase items directly from their app. But, this feature is relatively new and needs some work to perfect. In some time, this in-app purchase feature could grow to become a major way for you to earn money.
You can even contact brands and work out a plan to maximize sales and calculate what commission you get.
Create Your Own Merchandise
Another unique way to earn money in the future is to introduce a line of your own merchandise. Clothing and accessories are the most appealing items to test the waters with. Accessories can include mugs, mobile covers, stationery, tote bags, and other small items.
Simple logo printing on these items and a minimal price can generate a steady influx of revenue. This makes for an appropriate side income apart from other major generation mechanisms.
Instagram Reels directly competes with TikTok, a short video snippet social media application. Although Reels are currently paying out creators they will begin soon.
This will motivate and inspire a whole new earning environment for users and you, the app owner. Providing users with the chance to earn is also an incentive for creators to produce unique content. Thereby increasing the number of quality reels on your social media platform.
Live videos happen to be an engaging form of content that Instagram has come to embrace. But it wasn’t until recently that a form of earning was created.
Users can buy badges ranging from $0.99 to $4.99. Although for now, all this money goes to the creator, later on, you can introduce a commission fee. A small percentage on a per video or per badge will not scare away your users!
Launch a Subscription-Based Service (Streaming Service or Extra Features)
As the owner of an Instagram clone app, you can introduce a few new novel features to attract users. One such method of doing this is to create a new service and offer a subscription to it. Or offer a range of digital products that can be sold over your platform.
Ideas for this can include:
Teaching videos to help users develop a range of skills (cookery, dance, coding, etc)
There is a world of knowledge out there and an immense amount of people who want it! Forming a great idea to earn money from your platform. Offer users a chance to gain skills and access to tutorials, demo videos, and online courses through your Instagram clone.
Start a video streaming website
As mentioned, videos are a valuable form of content that everyone loves. Just take a look at Netflix and Youtube. Their popularity speaks mountains about the importance and value of video streaming applications. Imagine if you include the same in your Instagram clone App.
Adding new features and introducing a small fee to avail them
You could alternatively opt to limit access to some features in your app. Provide access to these features for a minimal amount of money. But, reserve this for when your application has garnered a good following, not at the time of launch.
Digital products and services are great items to sell over your platform. For the audience you serve, these products will see many takers. So long as you do not overcharge! Another reason to sell your digital products and services is that the revenue remains undivided. This is true since you are the sole creator.
You will have a whole platform on which you are able to squeeze a few marketing ads here and there. Get in touch with a few companies that are willing to pay for you to display an affiliate marketing ad.
This type of earning may be paid based on the views it receives or the number of leads (sales) that are derived from it. Like Instagram, you should have an account that you can use to share content with all the users.
Earning from an app like Instagram does become somewhat easier once you have a large following of daily users. But, that does not mean you should stop trying to improve and innovate your revenue-generating mechanisms.
The best way to get around this is to plan for the future and have a variety of plans in the pipework. One source of monetization might not always be the best and most successful plan. Instead, try to utilize two or three options at a time.