How to Monetize Your Brand on Instagram
Instagram is a fun, visual, and engaging channel for brands, influencers, and consumers. People love posting photos of their meals, outfits, pets, vacations, so on and so forth. Brands can take advantage of Instagram by focusing on people’s passion points and what evokes emotion from them each day. For example fashion brands can easily upload photos of their upcoming lines, models wearing their latest and greatest, influencers wearing their exclusive garb on their vacations, etc.
So you get followers, got it. You get likes and comments. Awesome. But what about selling your products? You can do that too – really. Instagram has become another avenue for referral traffic to your brand site, consumer products, and direct purchase.
3 Ways to Monetize Your Brand Through Instagram:
Keep it Simple: Sometimes it’s easier just to provide a link to your blog and/or product link for consumers to find the item they want with one action. Why make it harder through re-directing a few different times. Tip – you cannot actually “click” on the link. Someone will have to re-enter the link on their browser. But for now, it will do. Instagram, are you listening?
Brand Example: Nordstrom – They do a great job of giving you the item reference # so you can find the exact item on their site with less searching. Great way to get around the current roadblock.
Use Influencers: There is a plethora of instagram influencers who are probably already posting your products or like-minded photos. For example bloggers like Daniela Ramirez or better known as @nanysklozet on Instagram is constantly posting about what she wears, how she wears it, and what’s in her “klozet.” It gives her followers ideas on what brands are great to purchase from and why it rocks. She will post links to the items on her blog, so she’s creating referral traffic for the brands not only from her instagram account through branded hashtags, but also through her style blog. Double the score.
There’s an App for That: The tough thing as mentioned above, is when you provide a link, no one can click through the app currently. However there are workarounds such as Like To Know It which allows influencers to post a direct link for purchase of the item they’re promoting. Additionally, it allows consumers to find that specific item without hunting, and/or similar products to what they saw on the app. For example, perhaps that pair of shoes was a tad too pricey, maybe there’s a more attainable pair you can purchase with the same look. Why is an app like this important for both influencers and brands? Because it’s a direct path to purchase for consumers who want what the influencers have. They want it right then and there. So let them have it at their fingertips.
Infuencer Example: Aimee Song (@Songofstyle) uses Like to Know it!
Alternatively, if Like to Know It is too complicated with Reward Style (invite-only) registration, services like Soldsie and Chirpify allow for quick and instant transactions through the comments feed (utilizing action words and hashtags).
Bonus Tip – If you only post the photo and no way for them to find out about how to get it, they’ll lose interest in the brand (especially if the brand doesn’t respond). Provide a relevant brand hashtag, a link to the item they are coveting, and/or tease them until it’s available. Sneak peeks are a great way to entice a frenzy at launch. Just look at SJP Collection as an example with their exclusive launch through Nordstrom.
Questions on how to use instagram for your brand? Reach out in the comments below!