Instagram has been part of the online world for ten years now, and it continues to thrive and grow. It is one of the most popular and widely-used social media platforms on the internet, with around a billion active users. The platform has introduced a variety of features to make it an all-in-one platform, including the opportunity to sell items via the app.
If you are an entrepreneur planning to utilize this platform for your business, here is what you should know.
Introducing Instagram store
Originally a gallery app for sharing photos, Instagram now offers many features for personal and business use. Right now, promoting products and generating sales is possible to do inside the application. Most sellers use it as a way to showcase their products. They post engaging and creative content with interesting captions to encourage viewers to click and have a look.
Although the platform has a shop feature, you should keep in mind that it still does not have a dedicated "buy" button to allow people to purchase products without the need to leave the app. However, this does not diminish the platform's powerful capabilities to entice and intrigue audiences. If you want to make it work for your business, there are ways you can use it to make sales even though it lacks a "buy" feature.
What You Can Do
There are many ways you can make online payments today. Mobile payments, electronic bank transfers, and online electronic payment platforms now exist to add convenience to online transactions. You can utilize these tools to make it possible to sell from your Instagram store.
Here are some steps you can begin with:
Leave your email address or contact information on your bio so that customers can quickly reach out to you.
Highlight your preferred methods of payment on your profile. Choose the options you think will be most convenient for your followers.
Do not forget to also post your shipping policies to manage your customers' expectations. Be transparent and clear about your payment methods and shipping instructions.
Consider building a website to make the transaction seamless and your brand more reliable.
One More Important Thing to Note
Any business in Australia needs to be registered first. You must register your Instagram business for an ABN (Australian Business Number) if you plan on making it more than just a hobby.
You will need to register your business if you find yourself belonging to any of these criteria:
You have a dedicated website that means you are serious about your business
You have and implement a business structure
Your annual GST turnover is $75,000 or more
You are working under an enterprise in Australia
You are already in business and have reached the GST threshold
You have reached the GST threshold in the first year of your operation
Make sure that you check your eligibility first before you apply for an ABN.
Conclusion
If you want a reliable and free platform to display your products and services and spread the news to people, Instagram is a platform that will not disappoint. Whether you use it for advertising or selling your products and services, remember that you must follow its rules and regulations. Read through the policy and make sure that you understand and follow it.
If you need an ECommerce accountant in Australia, contact us today. Besides providing bookkeeping and accounting services, The ECommerce Accountant is dedicated to helping clients grow their online businesses. Let us help you understand your financial figures and increase your profit. Call us at (07) 5504-1999 for a free online strategy meeting.