Instagram has risen to the status of one of the most popular marketing platforms. It might have started as a network for sharing visuals, but now, it is a relevant business platform. As the business aspect of Instagram has grown, Instagram affiliate marketing became stronger.
Affiliate marketing has established its position as a powerful marketing method. In fact, 81% of marketers and 84% of publishers use affiliate marketing for their promotions. Furthermore, 15% of the total digital media advertising revenue is attributed to affiliate marketing.
Why is Instagram affiliate marketing so effective? Because it's a three-way win. Brands, influencers, and users can all benefit from such a collaboration.
What Is Affiliate Marketing?
Affiliate marketing is a process in which a person (typically influencer) earns a commission for promoting a company’s product.
There are four crucial elements of the affiliate process:
- The brand/seller
- The affiliate (influencer)
- The affiliate link
- The consumer
It all starts with a partnership between the brand and the affiliate. The affiliate agrees to promote the brand's product on its Instagram page. On the other hand, the brand agrees to pay a certain commission to the affiliate for every click on the affiliate link. The affiliate places the affiliate link within their promotional post. Whenever a consumer clicks on the link and purchases the brand's product through the affiliate link, the influencer earns a commission.
Thus, the brand benefits from affiliate marketing because more people hear about the product. Also, 63% of people trust influencer messages more than brand messages. Therefore, the brand will sell more products and build trust in consumers.
The influencer benefits from the partnership because they get a commission for each purchase.
Lastly, the affiliate link often includes some sort of discount. So, the consumers benefit as they get a discounted product.
That's how affiliate marketing acts as a three-way win.
How to Make Money from Affiliate Marketing on Instagram
Affiliate marketing is now recognized as a great method of making money on Instagram. Brands and affiliates alike can take advantage of affiliate marketing to grow their income.
Let’s revise how both influencers and brands can make money from Instagram affiliate marketing.
How Influencers Can Make Money with Instagram Affiliate Marketing
Affiliate marketing can be a source of high income for influencers. A single affiliate post they create can bring them a constant flow of money.
If they place the affiliate link in the bio, the influencers can entice new sales, and thus, new commission without even creating new posts.
When it comes to commission models, there are 2 main types:
- Pay per click – Influencer gets paid for every click on the affiliate link that leads to the brand's website.
- Cost per acquisition – Influencer gets paid for every click on the affiliate link that leads to a purchase.
To start earning money from affiliate programs, influencers can join high paying affiliate programs.
How Brands Can Make Money with Instagram Affiliate Marketing
Starting an influencer affiliate program can help brands reach more people much faster. By partnering up with relevant influencers, they can grow their brand awareness and boost their credibility.
Brands can increase their sales rate notably, with the help of affiliates. Influencers can act somewhat as the brand’s sales assistants.
When it comes to a commission model, cost per acquisition works best for brands. It is the safest option as the influencer is paid based on sales performance.
With cost per acquisition, the brand doesn’t pay the influencer if the promotion doesn’t lead to sales.
Simply put, brands can’t lose money with affiliate marketing. They can only make some.
The easiest way to start an influencer affiliate program is through affiliate networks. These networks ensure streamlined cooperation. They allow brands to track clicks and sales, process payments, and connect with affiliates.
Tips for Effective Affiliate Marketing on Instagram in 2021
Nowadays, affiliate marketing is a largely accepted marketing program on Instagram. To maximize the success of such a campaign, it’s essential to consider how to affiliate market on Instagram successfully.
1. Identifying the Right Brand or the Right Person for Influencer Affiliate Program
Brands need to target influencer whose followers matches their target audience. Without assuring that influencers can reach the right audience, the program can be useless.
In addition, the more engaged influencers are with their followers, there'll be a higher chance of their followers making a purchase. Thus, brands should also consider the potential affiliate's engagement rate on Instagram.
Influencers should choose wisely as well. Promoting a product that doesn't align with their values can hurt their reputation. It is essential that the influencer likes the brand's product, to begin with.
2. Recognizing the Importance of Micro-Influencers
Micro-influencers have a lot to bring to the table. That's why more and more brands recruit micro-influencers for their influencer affiliate program.
Additionally, micro-influencers should be more courageous to join affiliate networks. It is expected that 2021 will bring further demand for their involvement in marketing.
3. Putting the Focus Is on Benefits
Crafting compelling content is a must for evoking followers’ interest in the product. Typically, the influencer comes up with the text, and the brand approves it.
Explaining why the influencer likes the products and how it benefited them will give followers a solid reason to click on the link.
Brands and influencers can also agree to hire a writing service such as TrustMyPaper to create the content for them. This option arises when influencersć content isn’t of the demanded quality.
4. Incorporating Hashtags
Hashtags can bring more organic traffic to affiliate posts. Instagram hashtags can lead potential buyers to the affiliate post.
The incorporated hashtags should be related to the promoted product. For example, using #sustainablematerial in the post description can bring users interested in such products to the affiliate post.
5. Assessing the Results
The affiliate marketing strategy should rely on analysis and assessment. That's the safest route to success.
Brands should keep track of which influencers bring in the highest click rate. While influencers should focus on which affiliate posts their audience responds best to.
Based on the results, both brands and influencers can make more profitable partnerships.
Instagram Affiliate Marketing – Marketing Tactic that Promises Sales
Learning how to affiliate market on Instagram is slowly becoming an essential skill. Any influencer or brand that wants to earn more money should join the affiliate community.
Thanks to affiliate networks, the affiliate programs are trustworthy and streamlined. All that brands and influencers have to do is to decide to follow up on the affiliate marketing trend.
The article was written by Erica Sunarjo
Erica Sunarjo is a professional writer, translator, and editor with a Master's degree in Marketing and Social Media. She writes thought-provoking articles for publications in a variety of media. She is a regular contributor writer at SupremeDissertations. Even though she is an expert in numerous fields of business, Erica is always dedicated to learning new things. She actively visits conferences and takes online classes to keep her mind open to innovative ideas.
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