There’s one question that every business and brand seem to want to know the answer to How to make money from Instagram? I will be the first to admit that the formula to using Instagram to generate sales for your business is not always black & white– but it really isn’t as hard as you may think.
While there are a few monetization strategies that may seem obvious, such as sponsored posts, posting your promotions/sales on your account and even directing your followers back to your website to buy from you, live streaming is one that may not seem as obvious.
Live streaming is quickly becoming the new way that people consume content (i.e. entertainment, news, and everything in between). This trend can be a major advantage for your business because this will give you a chance to showcase and/or discuss your products/services in a format your potential customers are used to and interested in.
In this article, I want to offer you 5 simple tips for using Live Streaming to make bank! If you follow these 5 steps you can sell your MORE of your product/service while creating “warm audience” (e.g. an audience that is ready to buy from you in the future).
Ready? Here it is:
Tip #1. Announce the LIVE in advance on IG and via email.
Once you decide that you are going to live stream on Instagram or Facebook, announce it on your account 24 hours or more in advance. I have found that is best to send an email out 2-4 days in advance in case some people are slow to open their emails. However, you want to announce on Instagram about 24 hours in advance via a post on your profile, as well as a post in your Instagram Stories (not earlier than 24 hours in advance because you want it to stay up while you are live). If you aren’t sure how to upload a post to Instagram stories, check out this post. On Facebook, it’s a good idea to do a post 24 hours in advance as well.
Tip #2: Write a compelling description before going live.
The great thing about Live streaming is that it doesn’t have to be scripted- it’s a more natural interaction, almost as if you’re having a conversation. However, you still need to have an agenda and let your audience know what it’s about so when they open it up they can decide whether or not they want to stay on. Once you are actually live on your channel be sure to welcome everyone and let them know what is to be covered during the live stream. You don’t need to mention each person on the live but acknowledge some of them by name.
On Instagram, I like to pin a quick comment to let everyone know what it’s about. On Facebook, you want to write a description to let people know the topic of your live. After doing that, I like to cover a brief agenda with my audience.
I usually like to start out with an agenda that looks something like this:
The time spent on the Live stream is up to you but each social platform is different. On Instagram you will be cut off after 1 hour so you will have to restart the Live video. On Facebook you can be live for hours before being cut off. Keep in mind, the longer your live video, the more time you give people to join you and tune in.
It’s important that you tell your audience to sign up for your newsletter and or email list so that you can follow up with them and capture those potential customers.
Tip #3. Record the LIVE on both IG & Facebook (if you can) so you can save the recording and send it out via email to those that missed it.
While I love Instagram Live, the biggest downfall is that once it’s over it doesn’t stay on your Instagram page. However, you do have the option to download the video and add it to your Instagram Stories but it will not show up on your account profile. One reason I really like Facebook live is that it automatically saves your live video in your video post folder on your account and you can download the video or embed the link elsewhere. If you can, I recommend, live-streaming on Instagram and Facebook and then saving that Facebook video and sending out a replay link to your email subscribers in case they missed it. One way to do this is to Live stream to Facebook via your computer and then live stream to Instagram via your phone. This is another way for them to consume content about your product/service and because it’s more visual they may respond better to it.
Tip #4. Create a special offer (or coupon) for those who watched the LIVE video
If you decide to use your live video to debut a new product or launch a sale then one effective way to get people to take action is to offer a special coupon code that you pin to the comments on Facebook Live and Instagram Live. During the live video make sure you tell your audience that you have something special for those who joined you and who stay until the END! Then at the end of your live (or mid-way through) let them know you appreciate them for being on and then give them the special discount code.
Tip #5. Update your link in your bio to include your sales page so people can check out your offer when they hop off the LIVE stream
At the end of your live video you’ll want to direct your audience to sign up or check out your product offering with the link in your bio (on Instagram). You can either update your bio link while you’re live (which is tricky if you don’t have someone else to do it). Otherwise, I recommend updating the link before you go live. The key is that you want to use the link to your sales page and NOT your homepage. The goal is to drive them to make a sale, not browse your site. On Facebook, you can write the sales page link in comments and then “pin it.” This just ensures that people take action right away.
So apply these 5 tips and watch the sales roll in! It’s important to note that it may take you a couple of tries of going live before you build up an audience. However, if you notify your email audience and social media followers in advance then you will have a much better chance of getting them there and if you do it consistently you will “warm them up” to your offer. I hope this helps! Let me know if you have other tips for going live!