New Way To Make Money on Instagram!
Updated: Dec 7, 2020
Creators can now make money on Instagram with new IGTV ads. Isn’t that exciting?
Since the 2018 launch of IGTV, a place for long form video content within Instagram, we have been watching to see how it would evolve. We are happy that creators will now be able to make money directly on the platform.
Keep reading to find out how IGTV ads work and how you can potentially benefit from this new way of making money on social media.
What are IGTV ads?
Social media giant and owner of Instagram, Facebook, released in an article that they want to support creators' investment in IGTV by sharing advertising revenue with them.
Starting this week, Instagram will introduce ads that will appear when people click on watch IGTV video from feed previews.
The ads will be built for mobile with vertical videos and last up to 15 seconds long. Instagram intends to test many modes of ad delivery throughout the year so that the end result is good for brands, influencers, social media users, everyone. They will also be testing the ability to skip ads as well.
IGTV ads will begin showing up in feeds from a select group of test partners in the United States before expanding to the rest of the world. Ad test partners include brands such as Sephora, Ikea and Puma. Instagram also reached out to top creators to partner on the tests. The first set of creators to test the new monetization features include popular influencers Avani Gregg, Hailey Sani and Salice Rose.
How much money can creators look forward to?
Similar to YouTube, creators will take home 55 percent of the ad revenue (not bad at all!).
Instagram’s COO, Justin Osofsky said “Creators already put an incredible amount of effort into their content, and it’s crucial that they can make money from that content in order to fuel their work in the future”.
Popular creator @haileysani shares “IGTV allows fans to see who I really am so we can have face-face conversations. My IGTV videos are fun and quick snacks, and everyone likes snacks. Being able to monetize them will mean more frequent uploads and even deeper connections with my followers. I do this as a career so it’s important to me to weigh out my work and it’s benefits. This will make a big difference.”
But is every creator feeling the same?
Some influencers have been skeptical about Instagram’s IGTV feature, which they think bears too many similarities to YouTube and TikTok, without the benefits of those platforms. In an interview with Digiday, travel influencer Adam Groffman, expressed that "video is still a bubble and I don’t know that I trust the platforms to regularly pay creators rates that are worth the effort".
With money as a motivator, influencers can propel IGTV to new heights. With quality content, people will become more interested in the platform. Only time will tell if this will be successful as IGTV will not flourish if influencers are not on board. With no influencer content, then persons will be forced to other platforms such as Youtube and TikTok for entertainment.
If you are a creator, then this is a good time to create an IGTV strategy. Learn how to adapt your usual content into videos that your target audience will want to see.
What does this mean for brands?
Instagram will only allow ads to be shown with brand-friendly content. What does this mean?
Influencers who have fake engagement, fake followers, use profanity or sexual content will not be able to monetize their videos. Advertisers need to know that their brand content won't show up somewhere that will ruin the brand image. After all, they are the ones who will be paying the influencers' salaries in order to keep IGTV alive. During the initial phase of the IGTV ad rollout, Instagram will human-review every IGTV video before it is accepted for monetization. After which, they will introduce software to help them automate the process.
If you are a brand, listen out as Instagram continues to roll out new features. You won't be able to publish one ad on all platforms, as IGTV will require vertical video rather than landscape. It will be important to know your stats and your audience in order to choose the platform that will ensure that for your marketing efforts are successful. Get advice from your digital marketing agency on where you should be running your ads or if an influencer marketing campaign would be right for you.
Ready to give your Instagram strategy a boost? Contact EFFIT today! Learn more about how we can help you with social media marketing, influencer marketing and other services we offer at EFFIT!