How To Make Money on Instagram #4
Create and sell a digital product on Instagram
In our “How to make Money on Instagram” series, Gram To Grands explores the various ways Instagram users are making big bucks on the platform.
This information isn’t just for your own interest, you can copy the exact methods below and start generating income from Instagram today.
Create and sell your own digital product on Instagram
Maybe you don’t want to create and sell a physical product on Instagram because it’s just too much effort. The alternative is to create and sell your a digital product on Instagram.
What are digital products?
The most popular digital products you could sell on Instagram are:
Due to the emergence of devices like the Kindle and Kobo, the popularity of eBooks has skyrocketed. Because of this new era of ebooks, self-published authors are now getting the recognition they deserve. Authors, if they decide to go this route, no longer have to go through the hassle of finding a publisher.
Take a look at these remarkable stats from Publishers Weekly:
- The Big Five traditional publishers now account for only 16% of the e-books on Amazon’s bestseller lists.
- Self-published books now represent 31% of e-book sales on Amazon’s Kindle Store.
- Indie authors are earning nearly 40% of the e-book dollars going to authors.
- Self-published authors are “dominating traditionally published authors” in sci-fi/fantasy, mystery/thriller and romance genres, and are taking significant market share in all genres.
Self-published books are dominating as they are starting to gather a cult-like following. Many people are tired of seeing the same books published by the same authors and are looking for some variety.Setting up a site for your ebooks is extremely simple: if you choose to create your own website, you get to keep 100% of your profits and 100% of the attention is on you. Nobody has to sort through hundreds of thousands of other titles to eventually land on your book.
However, you can can also publish your ebooks through Amazon, Kobo, iBooks and other ebook stores. Just write your ebook, get a cover created, and upload it to the ebook store of your choice.
70 million. That’s the the number of photos, vectors, and illustrations currently being sold on Shutterstock.
Not to mention over 750,000 active members in over 150 countries. There were 58 million downloads of Shutterstock images in 2011, which generated $120.3 million in revenue. And that’s just Shutterstock. There’s also Photocrati, SmugMug, Zenfolio, DigiLabs, Shutterfly, Zazzle, iStock.
All this probably sounds pretty good, right? There’s a ton of really big numbers, but the fact is, if you want your images to stand out, they won’t. They become a needle in a haystack and the competition is fierce.
However, if you use Instagram to build a following and profile your photography like this photographer that made $15,000 in one day selling his photography on Instagram, it’s a lot easier to make money online.
iTunes, as we all know, is massive. Like billions-of-dollars-in-revenue-every-year massive. But did you know that iTunes takes 30% of your music sales? Sure, you get exposure on it, but unless your Taylor Swift, chances are you aren’t going to be making a ton of money. The scenario is worse when you look at other services like Spotify.
With your own eCommerce store, you get to keep every single cent of your money every time someone downloads your music. You can create your own custom website, build a worldwide fan following, and distribute music to them right from your site.
You can also sell whatever you want to go with your music including t-shirts, hoodies and more, and bundle them with your music.
- Videos and Courses
With everything being so readily available and free, it would seem that videos and online courses would be obsolete. Not the case.
Online video and course marketplaces like Udemy have become extremely popular. Udemy shared that it now has more than 8,000 courses being taught to 800,000 students. The problem is, Udemy and other similar websites take 50% of your sales! On top of that, they regularly run discount promotions that further diminish your income.
From healthy living to learning how to code, you name it, people are looking to learn and actually pay for the information!
- Web Elements
If you’re a graphic designer, you’re in luck. People are paying a lot of cash for themes, patterns, brushes, wallpapers, logos, pretty much anything web related you can think of.
Themes are extremely popular. Some of the themes on Theme Forest are being downloaded thousands of times with the price range between 14-30 dollars. There are over 1000 WordPress themes alone. Some other incredible numbers from Theme Forest include:
- Highest selling theme: $200,000 sales to date
- Fastest selling theme of all time: $160,000 in 7 months, and counting
- Highest author earning in a single month: $40,000 (take home earnings)
Then there are sites like Graphic River that sell just about anything you can think of, from social media packs to banners ads to textures. There are over 150,000 vectors alone to choose from. The possibilities of web elements that a graphic designer could sell online are endless.
Start Selling digital products on Instagram
Digital downloads is a billion dollar industry. Standing out and making real money is possible but it won’t be done selling on third party websites. Sure, there are the lucky few that do end up making some decent coin, but they still have to give up a percent of their earnings.
Starting your own online store allows you to brand yourself, market yourself and sell your digital downloads on your terms, without paying those hefty marketplace fees.
The best part is, it’s really simple to get started. You don’t need manufacturers, suppliers, packagers, shippers and all the other operational pains that come with physical products. Pick one of the above digital product types, set up your eCommerce store, and use Instagram to build an audience start selling!
Need more help?
Gram To Grams has a variety of ways to make it easier for you to make money on Instagram:
- Download our free Ebook: “10 Ways to Make 10K in 10 Days on Instagram”
- Book a consultation with a Gram To Grands Instagram coach
- Take our Infamous To Influential Instagram course
- Buy the top Instagram Marketing guide for Kindle at Amazon