Instagram is known for hashtags, amazing photos, and influencers, but it has also been recognized as a marketing powerhouse that can help you earn and save money. You might know a little about how to advertise on the platform and drive sales, but there are other ways to use it for business purposes. With the hard economic times, it’s natural to want to save money, and there is no better place to learn how to do it than on Instagram. These four tips are a great starting point.
1. Join a savings community
Your business needs to save money the same way you need to save money for a rainy day. Even with insurance, it’s vital to have a buffer account just in case you need emergency funds. Instagram has tons of communities focused on saving money, both at an individual and business level. The communities have over five million posts geared towards encouraging people and businesses to save. If your company hasn’t started, you will have more than enough people walking with you, encouraging you when things get hard, and celebrating you when you reach a milestone.
2. Create avenues for your followers to save money
For someone to buy a product, they must feel that the benefit they are getting is higher than the price they are paying for it. Create an affiliate program that encourages your customers to sell your products for a commission. Some of the best programs you can imitate are Bluehost, HostGator, Amazon, among others. Affiliate programs will work no matter the industry you are in. Money Monarch, for instance, has a health program that pays customers to lose weight. By creating two incentives around the program, customers have two avenues they will benefit from, which encourages them to follow the program as they get healthy. There is no better way to introduce your program than sharing it with your thousands of followers on Instagram.
3. Offer followers exclusive benefits
Businesses have reward programs that encourage customers to shop more and interact with the company. Offering exclusive materials for your followers will make it easy for you to sell and introduce new products. Giving exclusive packs makes your followers feel special and encourages others to follow you. Naturally, human being love being part of a community and feeling like they belong.
4. Learn from other entrepreneurs
To keep in touch with the business community, get ready advice when you need it most, and to take a break, Instagram is the best place to go. Some Instagram communities target entrepreneurs who don’t mind going into detail of their business and share their financial wins and losses. You will get tips on growing your business, social media marketing tips, and tips on how to improve your customer service.
Through Instagram, you can partner with upcoming influencers who target the same people you do. You don’t have to pay them with money, but you can appreciate them with the products you already sell. This saves you the marketing budget you would have spent to reach your audience.