Are you looking for ways to make money on Instagram? Do you want to start an Instagram business?
Instagram ranks #2 on the list of most downloaded apps in 2021, with 1.22 billion monthly users, making it the fourth most popular social media platform and the seventh most popular website overall.
That’s a whole lot of people who might be interested in what you have to say. With such a large and diverse audience at your disposal, there’s no shortage of monetization opportunities.
Check out this guide for advice on how to get make money on Instagram.
How much money do influencers make on Instagram?
According to Search Engine Journal, Cristiano Ronaldo, Ariana Grande, Dwayne Johnson, Kylie Jenner, and Selena Gomez have more than 200 million followers each as of April 2021. While Instagram superstars can make astronomical amounts of money, average Americans aren’t making chump change either.
On average, influencers with a million followers can earn about $670 per post. With 100,000 followers, a content creator on Instagram can earn about $200 per post, while with 10,000 followers, about $88 per post can be earned.
This means that more followers and more posts equal more money.
Learn more about how much money influencers make.
How many Instagram followers do you need to start making money?
It depends! Please hear me out if you feel like this answer is a letdown.
Influencers want brands to know that their marketing budget is being well-used when they work with them. Brands pay attention to how engaged your audience is, not how many followers you have because that means increased product awareness and potential sales.
Your follower count and engagement rate are also taken into account by brands as well as the quality of your posts.
How to make money on Instagram: 5 Proven Ways
1. Get sponsored
Instagram users can earn money by creating sponsored posts or stories. You might get paid by an outdoor gear company if, for example, your feed is filled with photos of your dog on hikes.
Then how do you go about finding a sponsor? Sometimes you will be approached by potential partners. You can also find and work with brands through companies that can help you find them.
It depends on your needs and which business you use. The Mobile Media Lab is an agency you can work with directly, and Influicity is a marketplace that helps you find partners. In addition to managing your partners, services like Aspire can also help.
Choose partners or offers based on what you and those you influence would actually use. Your followers are more likely to trust you about a dog trail backpack than gourmet cat food. Don’t waste your time on products you dislike. There’s no need to recommend “indestructible” toys to others if your dog destroys them in an instant or bites off every sweater you’ve ever worn for her.
Find niche-specific brands. Outdoors-loving dog owners may look for many opinions about dog stuff in general, but they will trust you to know what protective booties work best in the winter.
As with any other form of advertising, sponsored posts and Instagram stories must meet the same standard of truth. Please include a disclosure in all sponsored posts and Instagram stories. To do this, go to your account settings and add branded content, then tag your business partner.
2. Promote your business on Instagram
Instagram can be used in other ways to make money. For example, you can set up an Instagram business account for your company. You may consider a professional-looking Instagram account if you have an Etsy shop where you sell crafts or a food blog that generates advertising revenue. It’s also a common way to make money on TikTok.
Your profile can link to your Etsy shop or website, or you can highlight one specific product in your bio to draw more attention. You can tag products to directly promote your stuff if your Instagram account is approved for shopping features.
Create a searchable website for products you’re trying to sell or projects you’re promoting. Check out what hashtags your competitors are using and create your own if you don’t already have one. Make sure your clients tag you in their photos of your stuff.
Learn more about your audience by using Instagram’s insights feature. View statistics about people’s age and gender and how many people have seen your post.
Furthermore, you can find and connect with new customers using the app’s resources.
Pay for the promotion of posts that you want more people to see. Adding a button to your profile that links to an email address or phone number makes it easy for people to contact you.
Learn more about the best online business ideas.
3. Sell your castoffs
Poshmark is a website where you can sell your old clothes and accessories without having to start a business. You can increase your buyer base through Instagram.
Include as many details as possible in your caption and present your clothes and other things in an appealing way. The brand, size, condition, and age of an item are all important factors to consider.
You can link to a specific item in your Instagram bio if you’re looking to sell it. Otherwise, you can link to your Poshmark profile. Instagram sellers frequently use #shopmycloset to advertise their wares.
4. Monetize your videos with ads
You can also earn money by letting brands run ads during your videos. You can set it up in your creator account settings by enabling the option to monetize in-stream video ads. Once that’s done, you can start posting videos.
Your earnings depend on how many views your video gets in the feed. According to the Instagram for Business website, you will receive 55% of revenue generated per view. You will be paid every month.
Videos that do not meet the requirements will not be paid. A video must have a minimum duration of two minutes in order to be profitable. According to Instagram, you should aim for videos between two and four minutes in length.
5. Earn badges through Live videos
When you use Instagram Live, you can make money directly from your audience. Viewers can buy badges, which are essentially tips, to show support for you as you showcase your talents, products, etc. Each badge costs $0.99, $1.99, or $4.99. People who have purchased the badges will have hearts next to their comments.
Get the word out before your Live video sessions by posting or sharing a story. If you want to boost engagement – and badges – use the Q&A feature and give shoutouts to commenters while you’re broadcasting.