hey everyone, thanks for all the comments! I'd like to do a quick update. I'm currently using this method, and killing it, but with a twist. Instead of direct linking the cpa offer, I created a website with an email opt in. And, because it's doing so well, I'm actually giving away products and not faking the giveaways.
Making an email list is super effective because you don't have to spam your instagram account as much, and even if instagram loses its magic, you still have an email list with thousands of subscribers. In fact, you don't even need to create a website, you can simply use mailchimp.
All I basically do is make a weekly post with a cool product saying something like: Enter your email in the link in bio to win weekly products! Giveaways weekly!
And every week, I send them a new cpa offer that enables them to win a giveaway product. Hope this helps!