*New* Instagram Monetization Feature: Subscriptions [What You Need To Know]
Instagram's just launched a massive new monetization feature which is going to change the game and allow you to create predictable sustainable scalable income from your instagram account entirely in the app here's what's happening what you need to know and how you can make the most of this so this was first announced on adam missouri's instagram account .
With this clip here now creators do what they do to make a living and it's important that that is predictable and subscriptions are one of the best ways to have a predictable income so there you have it instagram are rolling out this new feature called subscriptions the way this will work is creators will be able to add a button on their profile .
Alongside where you can follow them or contact them or reach out to them where you can subscribe now i've seen rumors that creators will be able to select one of eight pricing models to use for their subscription button either 99 cents 1.99 2.99 4.99 9.99 19.99 49.99 and 99.99 and i assume these are monthly and it seems that when you first .
Get access to this feature you will be able to select one of these pricing models so unlike platforms like patreon where you might have a basic membership for a dollar a month you might have a medium membership for five dollars a month and you might have an advanced one for 20 a month you can only choose one to start with that may change over time .
But i assume to keep things really simple and easy there's one membership for people to subscribe what this means for creators is you're going to have to decide what you give away and how you structure this do you want to go on the low end we try and get as many people in and you give something basic for a dollar or two per .
Month or do you want to go for something where you have less members but you charge a higher price and provide a lot more value because you can't do both which is usually the best solution have a lower end and a higher end now personally i would suggest when you get access to this feature that you go with a higher end offer now the amount you .
Can charge will depend heavily on what your account's all about what value you provide how you brand yourself and the size of your following as well but let's say you could get a thousand people to pay you a dollar a month or you could get 10 of those people to pay you 100 a month each i personally think you're gonna be much better off going with that .
Higher price you'd likely have much happier customers because the value you provide for a dollar is usually not going to be massive so you're usually going to have a lot of churn compared to a higher price thing we provide a huge amount to your audience and therefore people are happy they're enjoying it and they're happily sticking along it's also .
Much easier to deal with 10 customers than a thousand especially if you're earning the same but you do want to make sure it's going to be worth it for your audience because if you're just a tick-tock comedian for example you make funny videos on tik-tok you built up an audience on instagram as well through reels and then you're just showing some .
Behind the scenes content obviously you can't charge a hundred dollars per month from that you might charge one or two dollars on the other hand if you're a fitness instructor you could be doing daily fitness classes for 30 minutes each for your subscribers where you run through the fitness class and then answer a handful of questions at the end .
From your audience and that is definitely going to be worth a hundred dollars per month or going back to the first example of someone who might be a comedian or a model or something where they can't really give a lot of education maybe you just give them a lot of access so you might do live stream q and a's .
With them where you talk to these people for hours on end and you build a community that way because there are definitely some famous tick tockers who might not post educational content but there will be a lot of people who would pay a hundred dollars a month to have really exclusive live chats with them jake paul for example he doesn't post .
Educational content a lot of people would pay a hundred dollars a month i would have thought uh to have some sort of more personal interaction with them now initially you're gonna have three ways that you can bring value to these people who subscribe first you can have private stories where you can give away behind the scenes content valuable .
Insights etc and it will be similar to the close friends list except it's something people subscribe for so instead of it being the normal instagram colored circle or the green circle for close friends it'll be a purple circle for subscribers only second there's going to be subscriber live streams so like i mentioned before where you could .
Have a fitness coach that's doing daily classes live on instagram for subscribers you will be able to do live streams to your audience this could be a great way where you can do private q and a's with your subscribers you could run exclusive classes whether you are doing yoga or working out or something like that or maybe you're teaching something .
Showing people how to cook something showing people how to do facebook ads whatever it is that you teach and then third is going to be subscriber badges so this will be a special badge that is given to people who subscribe and will be displayed all over their interactions with you so if someone who has a badge because they've subscribed to your .
Account that will show up when they comment on your content it'll show up when they dm you and so on which makes them stand out and the creators can realize that these are the people who are paying them every month to be a part of their subscription offer so this can be a great form of status to make people stand out in comment sections and it .
Also shows the creators who's supporting them and helping them out and so they might pay more attention to those people and saying that you should be responding to all of your audience if you can if you have the time to be able to do so but if you have to limit that time or maybe you give a little bit extra to the people that are subscribing now one .
Really cool other thing about this feature that i don't think has been touched on enough in the post on the creators account is that you can own this relationship and instagram are working towards the fact that you can own this connection we also believe that creators should own their relationship with their subscribers so working on .
Ways that creators can take their subscriber list and bring them off of instagram to other apps websites built by other companies which i think is very very cool i like the ability that you can own this relationship unlike your follow account on instagram for example instagram owned the platform they pretty much own your account they own that .
Whole connection you can't just export a list of your followers and send them an email or a text or so on that would be a massive breach of privacy i don't know how they're getting around that privacy issue with the subscription service maybe people opt-in to be able to be contacted off the platform or so on but this only opens up more ways that .
You can provide it to these people for example people that subscribe to you on instagram you could give them special access to a membership site on your website where you've got exclusive classes or exclusive content you could add them to an email database and send them weekly email content that is exclusive and just for paid subscribers .
You could even raffle off one-on-one consulting facetime calls nfts whatever there are a lot of ways you can get creative with this feature and i assume with time that will only get better now currently this feature is just in the us for a very small amount of creators i even heard someone suggest that only 10 creators have been given access to this .
But i feel like there's probably more however usually when they do small scale tests on features i'm not sure about launching they just quietly roll it out however with this feature they've posted it on the ceo's account they've posted it on the creators account and they're telling everyone all about it so chances are they're going to roll this out to .
Everyone very soon they're just trying to iron out some creases and how the payments work how the privacy might work on owning the relationship and how you can add value how people enjoy it and some best practices around it so personally i think this is awesome but let me know what you think down in the comments as always i've linked down in .
The description a link to get my free ebook and access to my email list there's links to my free courses on skillshare and i've started uploading content more consistently on instagram so go and follow me there at joshrine and dm me if you need a hand building your business with instagram that's it from me i'll see you all in the next one .
————————————————
Instagram subscriptions are here, in todays video I go over how to make money on Instagram with subscriptions, how they work and when you will get access to Instagram subscriptions Free Instagram ebook & training series: http://ignewsletter.com Free trial of Flick (#1 hashtag & analytics tool): https://www.flick.tech/?fpr=josh-ryan57 Follow me on Instagram for daily tips, tricks & insights: https://instagram.com/joshryan Apply for one on one coaching: https://forms.gle/pGPw75dDbTNQ7dDR9 Free Courses On Skillshare: (free month long trial) Instagram Masterclass: https://skl.sh/382rYVf Instagram Hashtags Training: https://skl.sh/3n1p1x1 Tools that I use & recommend: Instagram Hashtag tool: https://www.flick.tech/?fpr=josh-ryan57 Youtube SEO tool: https://www.tubebuddy.com/joshryannz Business Inquiries: josh@cleverpreneur.com
