Instagram neither sleeps nor rests! The popular social media platform is ceaselessly awash with activity, giving regular individuals massive potential to earn lucrative income.
How, you may ask? The answer lies in understanding the value of shoutouts and knowing how to sell them proficiently. By tapping into the mechanics of Instagram marketing and leveraging your existing follower base, you too can earn serious cash. Keep reading to explore the nitty-gritty of selling shoutouts on Instagram.
The Magic of Instagram Shoutouts
Before delving into the business of selling Instagram shoutouts, it’s crucial to understand what they are. A ‘shoutout’ is essentially a promotional feature in which one Instagram user promotes another on their account. Whether you’ve amassed thousands or millions of followers, your account holds valuable real-estate to brands and individuals looking to gain exposure. Exploiting this potential can be an excellent source of income.
Why Businesses Love Instagram Shoutouts
Instagram is home to a whopping 1 billion active users every month (Statista). Comprehending this, businesses see Instagram shoutouts as an ideal platform for reaching larger audiences and potentially skyrocketing brand awareness. Furthermore, shoutouts offer a more organic and authentic type of promotion, differentiating them from traditional adverts.
Carving a Successful Path towards Selling Instagram Shoutouts
Achieving financial gain from selling Instagram shoutouts doesn’t happen overnight. It requires a comprehensive understanding of key steps and a consistent strategic approach. Let’s delve into the details that can set you on the profitable path of selling Instagram shoutouts.
Building a Solid Follower Base
Your follower count directly impacts your potential to sell shoutouts. The larger your follower base, the greater your audience reach, and the more businesses will be willing to purchase shoutouts on your account. Sprout Social offers practical tips for growing and maintaining your Instagram following.
In addition to a hefty follower count, brands and individuals consider engagement rates when determining the value of a shoutout. Maintaining high engagement rates suggests that your followers are not just spectators, but active participants. Thus, focusing on strategies to boost engagement rates can significantly increase your shoutout value.
When evaluating the engagement of an Instagram account, buyers can consider the following metrics:
1. Likes: The number of likes a post receives indicates how many people interacted with it and found it appealing.
2. Comments: The number of comments on a post shows how engaged followers are, as it demonstrates that they are actively participating in discussions and conversations.
3. Shares: The number of times a post is shared provides insight into how valuable and interesting the content is to followers, as they’re willing to share it with their own audience.
4. Saves: The number of times a post is saved by users indicates that they found the content valuable or inspiring enough to revisit it later.
5. Click-through rate (CTR): This metric measures the percentage of followers who click on a specific link in a post or a call-to-action button, indicating their interest in the content or product being promoted.
6. Story engagement: For Instagram Stories, metrics like views, taps forward, taps back, and swipe-up rates (if available) can provide insights into the engagement level of your audience.
7. Follower growth: A steady growth in the number of followers can suggest that the account is consistently attracting new engaged users.
Identify Your Niche
The relevance of your content is another critical factor. Businesses are often in search of influencers whose content aligns with their brand image or product. Keeping a clear and consistent niche makes your account a more attractive prospect for relevant businesses.
Pricing Your Shoutouts
Competitive yet reasonable pricing is crucial for success in selling Instagram shoutouts. Pricing should be determined based on follower count, engagement rate, niche, and content quality. Ensuring you offer value for the price can significantly increase your success in selling shoutouts.
The cost of Instagram shoutouts can vary widely based on various factors such as the influencer’s follower count, level of engagement, niche, and other variables. However, here is a general breakdown based on follower count and engagement:
1. Micro-Influencers (5,000 – 50,000 followers):
– Low engagement: $10 – $50 per post
– Moderate engagement: $50 – $200 per post
– High engagement: $200+ per post
2. Mid-Tier Influencers (50,000 – 500,000 followers):
– Low engagement: $50 – $300 per post
– Moderate engagement: $300 – $1,000 per post
– High engagement: $1,000+ per post
3. Macro-Influencers (500,000 – 1 million followers):
– Low engagement: $300 – $1,000 per post
– Moderate engagement: $1,000 – $5,000 per post
– High engagement: $5,000+ per post
4. Mega-Influencers (1 million+ followers):
– Low engagement: $1,000 – $5,000 per post
– Moderate engagement: $5,000 – $20,000 per post
– High engagement: $20,000+ per post
Remember, these are rough estimates and prices can vary depending on the individual influencer, their niche, location, and the brand’s specific requirements. It’s also important to consider the reach and target audience alignment while evaluating the value of a shoutout.
Getting Started: Selling Your Instagram Shoutouts
With a solid understanding of the fundamental aspects of selling Instagram shoutouts, taking the plunge and getting started incurs minimal risks.
Directly Reaching Out
Identify companies and brands that align with your niche, then take initiative and reach out to pitch your services directly. Be sure to concisely explain the benefits they could reap from purchasing an Instagram shoutout on your account.
Joining Instagram Shoutout Platforms
Platforms like Rack host/broker transactions between influencers and businesses searching for shoutouts. Joining such platforms can significantly simplify the process of selling Instagram shoutouts.
To round up
Selling Instagram shoutouts can be a profitable venture for those armed with knowledge and strategy. Success hinges mainly on attracting a solid follower base, maintaining high engagement rates, identifying your niche, and accurately pricing your shoutouts.
Consider leveraging a platform like Rack. Rack allows you to create your Ad page, configure what you are offering e.g Shoutouts, Link in bios, sponsored stories, simple photos and much more. You can name your price, screen buyers and manage your sales.
Tapping into this often overlooked stream of income that’s already in your hands is as simple as making the first move! Begin by reaching out to brands directly or joining Instagram shoutout platforms. Remember, every potential customer is just a DM away!