Social media platforms can be a great place for you to make money if you know the best approaches to make the most money. As an Instagrammer, you can reach a massive audience. The goal here is to show you all of the ways you can make money on Instagram as well as the benefits of becoming an Instagram influencer.
☆Benefits of Being an Instagram Influencer★
In 2016, Selena Gomez was the most followed person on Instagram. While she’s not in the top spot anymore, she does still pull in an estimated $800,000 per post. So why should you be an Instagram influencer? Here are the top reasons to be an influencer.
Improves Brand Awareness
Instagram is an excellent place to raise brand awareness, attracting more people to you, and improving your online reputation. This helps your audience know who you are, the solutions you can offer, and your story.
Influencers have this unique ability to quickly build credibility, trust, and relationships with their audience. If you have a business, this is the trust that people will associate with your brand.
Builds a Community
When people trust you, you can attract a community that will frequently engage with you and improves your engagement rates. The higher your engagement rate is, the more likely you can get brands to make deals with you for sponsored posts.
As you start making money on Instagram as an influencer, you can benefit from the flexibility that this offers you. You don’t have to stick to a strict 9-5 schedule, that can interfere with your personal and family life. You can make your own schedule that works for your needs.
A major benefit of being an Instagram influencer is that you can often get free stuff from brands who want you to promote their products or services. Brands love offering free stuff as an incentive to get influencers to promote their items, especially since influencers usually want to make sure they are promoting a good product.
Make Money on Instagram
Now that you know some of the biggest benefits of being an Instagram influencer, this section will take a closer look at the 11 ways that you can make money on Instagram.
Just recently, Instagram started allowing users to make money using IGTV for ads. Monetization of these ads is possible through using tools like YouTube AdSense. How does this work? When people watch an IGTV video, the ads will pop up for them to see.
These ads are optimized for vertical mobile viewing and are no longer than 15 seconds. There are top names that are partnered with Instagram to offer these ads. The Instagram users can have these ads on their IGTV, earning money per ad.
Using the industry standard for monetization used on sites like YouTube, Instagram influencers can tap into this offering to earn more money. The goal is to help Instagram influencers gain the same benefit as content creators on other more popular sites that had compensated their users.
It’s also about offering multiple solutions for monetization, allowing users to find the best approach that works for them. Instagram is a popular site for influencers because it allows them to be more authentic and showing off who they are. IGTV monetization is an excellent way to reward content creators that want another avenue to making money.
By giving ad money to content creation, Instagram is not only rewarding those users that have worked hard to create a following but also to inspire them to continually make content on their platform. IGTV is especially great for content creators because it allows them more freedom for creativity and to better show their audience who they really are.
Having this extra incentive to utilize IGTV can make content creators more likely to take advantage of this new offering. This is a good thing because it rewards the quality content that creators make and helps these creators grow their brand even more.
An Instagram badge is a neat feature that allows viewers to support creators and businesses while they are watching their videos on Instagram live. Instagram wants influencers to be able to create content and make money from their hard work on their platform, rather than going to another social media platform.
Instagram has long had a hands-off approach to its monetization goes, allowing its users to negotiate their own deals and branding. However, without options like badges for Instagram Live, users may end up on sites like Twitch where they can get bits and ad money if they are popular enough to meet those requirements.
The badge is another option for monetization that different content creators can use to earn money, in addition to features like ads on IGTV. But why should you take advantage of this option to earn money? There are actually a lot of benefits to using Instagram Live.
For one thing, Instagram Live helps you get more visibility. You can attract a new audience to your brand because the live stories get priority spots over other stories. These also have push notifications when you go live, which catches the attention of your followers.
Another benefit of Instagram Live is that you can get an increase in engagement. You can start up conversations with your audience, which makes them more engaged. As more people engage with you, the more successful your brand is going to be.
By interacting with your followers, you are making it more likely that they continue to come back to watch your videos every time.
Become an Affiliate
Affiliate marketing can be very profitable on Instagram. Doing shoutouts and using affiliate links can help earn you money, as people click your links to purchase those items. When they do purchase items, you get commissions off of the sale. There can be a decent amount of money to be had when you do affiliate link marketing well on Instagram.
How do you successfully do affiliate marketing? You start off by finding a brand (or brands) that you are interested in working with. It can be a good idea to pick a brand that you are truly interested in because you are going to be more successful if you are authentic when promoting items.
You also want to work with brands that fit in with your personal/business brand. Register for their affiliate program, then you will get a promo code or trackable link that can earn you commissions on any sales earned. A program like Skimlinks can help with this, as this program automatically creates affiliate links for you.
Once you get this link or promo code, you can move onto creating posts. You need to carefully walk the line of selling items and engaging your audience. If you make the posts too “salesy” or pushy, this can turn off your audience. You can post items in a way that engages with your audience, without making it seem like you are overselling products.
Make it seem natural, which is a lot easier if these are products that you already love. Take pictures of you using these products and services, then talk about the picture and mention the affiliate link. Try to avoid being too spammy, otherwise, you won’t find the success that you are looking for with affiliate marketing.
Sponsored posts are among the most popular ways that people make money on Instagram. You’ve likely seen plenty of posts on Instagram that have #ad or #sponsored tags. In order to get the ability to do these sponsored posts, you must be an influence that has a substantial following on Instagram.
Influencers have an audience that views them as credible and will trust their opinions about products and services. Influencers generally establish themselves as an authority in a specific industry and as they create valuable content, the audience develops more trust in the influencer.
Brands understand this, which is why they seek out influencers that work with their niche to get the attention of their followers.
A sponsored post is a post where the influencer creates its content around a product or service from a specific brand. Transparency and honesty are so important online, there are regulations imposed by the FTC (Federal Trade Commission) that say influencers must clearly indicate that any posts are sponsored.
This is why you get posts with those #ad or #sponsored tags.
To be successful with this, you need to have a significant following. Micro-influencers, people only around 3,000, can make around $60-$110 per post. Those who have over 100,000 followers can make upwards of around $400 posts or more. However, even some smaller influencers or those who are just starting out can get sponsored posts from big brands.
As you get bigger as an influencer, you may get even bigger brands who are willing to shell out some decent money to get you to create sponsored posts. The brands just want to have influencers that engage with their audience and can inspire their audience to purchase those products and services.
Most consumers purchase products and services because people they trust recommend these items. That’s why sponsored posts can be an excellent investment for businesses and why they are so willing to work with influencers of all popularities, as long as they fit in with their brand.
Dropshipping is an easy and convenient way to sell products. With your Instagram account, you can sell items using dropshipping just as you would if you were to sell your own products. Again, you don’t want to cross a line where your Instagram feed is all sales and no fun.
This can make people stop following you and less likely to follow you. This comes off as too pushy for people who just want to enjoy great content on your page. For the most part, the idea is to have about 80% of your posts being normal Instagram posts, with the rest of your posts are used as promotional posts.
These should naturally blend into your other posts, keeping your brand consistent while also avoiding the trap of sounding too pushy. Your brand image is the most important thing to keep in mind when creating your dropshipping posts.
People are attracted to your Instagram page because of the brand identity that you have created. If you have promotional posts that just don’t seem like they fit in with the overall branding, then this could actually hurt your success of making money on Instagram.
How do you sell your dropshipping items? You can use either hashtags or shoutouts or a combination of the two in a way that works well without being overly salesy. If you are just starting out, this can be slow but you can build up a following eventually that will make your efforts worthwhile.
It can be a good option to try doing some type of giveaway to get started, maybe a free item or a coupon. These are great ways to get a lot of engagement, which can increase your followers. Plus, if they like your products they will keep coming back.
Promote Your Online Store
Do you have your own store where you sell items? Instagram is a great way to sell physical and digital products by sending your audience to your eCommerce store. Whether you use Etsy or Shopify, you can take advantage of Instagram to sell your products. Who said that the only way you can make money on Instagram is by selling or promoting other brands.
This can be a great option because you don’t have to worry about making sure that you have the right links or codes copied on your links. All you need to do is focus on creating posts that sell your products and services, promoting them to your audience.
This works out because you are passionate about your brand and the offerings that you sell, which can translate into authentic posts that are really connected with your audience. This also makes sure that you don’t have to worry about finding brands that work with who you are.
Promote your own store and earn profits while enjoying the financial freedom of being an Instagram influencer.
Whether you are selling products or services that you have created yourself or you are selling products from other brands in your own store, Instagram is an excellent place to promote your store. If you are selling your own products or selling real products from another brand, you need to be sure that you have plenty of space to store inventory for your sales.
This isn’t a concern that you have when it comes to selling items through dropshipping. Don’t have an online store already? As of July 2020, you can set up an Instagram Shop. This can be an easy and convenient option for those starting out in eCommerce, especially since you’re already going to take advantage of Instagram marketing for your business.
Sell Your Photos
Smartphones today come with some incredible cameras, far better than the camera phones of the past. Those pictures that you show off on Instagram could actually net you some good money. If you already post some high-quality shots, why not increase your Instagram profits by selling them?
There are options like Foap and Twenty20, which will actually pay you real money for your smartphone shots. Foap is a relatively unknown option when compared to Twenty20, but this is often considered a better choice for Instagram users who want to sell their pictures.
Foap is easier to use option and it can give you a bigger portion of the profits than other options. You may be concerned that by selling your photos, you are selling your rights to them. However, that’s not the case. You can still sell your photos whenever you want since you still retain the rights to these images.
You can also sell the pictures directly using services like Canva, where you can create the free graphic then sell it directly on your Instagram.
These are all ways that you can make money on Instagram by selling your photos. You are taking these images anyways to show off on your Instagram to grow your followers, why not profit from some of your best images? Every little bit helps you earn an income, so you should take advantage of as many opportunities as possible.
As a brand ambassador, you will be promoting a brand and its products or services to your audience as a way to increase their brand awareness. This may seem like the same thing as doing sponsored posts, but there is a very distinct difference.
Sponsored posts are usually one-off deals whereas being a brand ambassador is a more long-term agreement, where you regularly discuss those products and services. These long-term deals are especially desirable for brands because they have a massive audience, raising their brand awareness to all of their followers.
Like when searching for brands for affiliate marketing, you want to be sure that you only work with brands that fit into your niche, and that works with your personal brand. For instance, if you like to create makeup tutorials, you should work with makeup brands.
If you specialize in gaming, you should promote brands associated with that niche. Your audience follows your content for a reason and while you may like these other brands, you should stick to the brands that best fit in with what you are known for.
Instagram is a popular platform for businesses for marketing, which makes this the ideal place to find its brand ambassadors. The amount of money that you could potentially make from here can be greatly dependent on your engagement rate. There is actually a formula to calculate what your engagement rate is, as seen here:
For instance, say you have 10,000 fans and then received an engagement of 350. Using this equation, your engagement rate would be 3.5%
Generally, brand ambassadors sign contracts with the brand or brands to promote products. Brands will also search out influencers that work with the message and the niche of their brand, as well as an influencer that has a large audience.
For influencers, this can be an incredible opportunity that can net them some serious money for working from home. In some cases, influencers can earn between $40,000 and $50,000.
Teach Instagram Marketing
Do you think that you’ve already mastered the art of Instagram marketing? If so, you may have a thing or two to teach someone else about how to effectively use Instagram for marketing purposes. Brands, especially smaller brands or startups are more than willing to pay for webinars that show them the tips and tricks for Instagram marketing.
The problem is that you may not know how to get started on creating webinars. The good news is that a webinar is probably easier than you think to create. You just need to be sure that you have valuable insight and knowledge and an interesting course to inspire your audience to want to pay for your webinar. Without a unique perspective on the topic, you may not find this to be as successful.
There is a technical side to the webinar and a content side that you need to be concerned with when creating it. What specific topic are you going to cover? Are you going to create an in-depth guide on a specific area of Instagram marketing or are you going to do a basic introduction?
Will you add webinars in the future? These are just some things to think about when you are creating the content for your webinar. Then, you need to move onto deciding on how you are going to present your content. Are you going to present the topic yourself?
Will you have a panel of other influencers or experts in the area to have a panel discussion? There are so many different approaches that you can take here. Pick the approach that you feel most comfortable with and what you think will work best for your audience.
As a Freelancer
Freelancers depend on having a great reputation online in order to get work. Whether you want to work as a social media person or just want to showcase your talents, Instagram is a powerful resource for you to make use of. You can do some great networking on Instagram, allowing you to find clients that are looking for people like you.
You can post your Fiverr information, for instance, to promote yourself and your freelancing services. Just place your link in your bio with a brief description of what you do. This makes it easier for people to find out exactly what you do.
Instagram can be especially useful for creative freelancers to find work in their desired field, though freelancers in many industries can find some success finding work on this platform. For instance, if you are an illustrator or artist, you can show off some images of your work to get prospective clients interested in your work.
If you’re a photographer, you can showcase some of your best work on Instagram. Consider Instagram as a digital portfolio that showcases the best that you have to offer, where possible.
You can also greatly benefit from using Instagram as a freelancer because you are able to build up your credibility in the industry.
If people trust you as an authority in your specific field, then you are going to be more likely to find clients using Instagram. Instagram is a highly effective marketing tool that can raise brand awareness and get you the attention that your work deserves.
You will need to be sure that you optimize your account to make the most of it for finding clients. This includes using the right hashtags, producing high-quality images, and creating content with those images that give clients a taste of what you are capable of.
Much like any other business, Instagram gives you a great place for you to market your online courses. Instagram gives you such a broad reach for your audience that it makes sense that this is a place to get people to purchase your online course.
It’s important to remember that it’s not necessarily about the number of followers you have; rather it’s about the quality of those followers. It can take some time to build up your base and get followers who are interested in your online course. But with patience and dedication, this is completely achievable.
Your Instagram should be a mix of business and personal. You want your followers to get to know who you are, which builds a relationship with them that leads to them trusting you. Then, you sprinkle in a bit of your business. Add in that you are promoting this product or here’s your online course.
Optimize your personal brand to get the quality followers that you need to earn money with your online course.
But how do you create an online course? Using a resource like Teachable, you can easily create the courses that you want to create in the way that you want to teach them. It helps to make sure that your course offers something valuable, otherwise, this can leave a negative impression on your followers.
Can I Make Money with 1,000 Instagram Followers?
Micro-influencers, influencers that have fewer than 1,000 followers can still make some decent money on Instagram. It is estimated that these influencers could potentially make about $88 per post. You can also be paid based on your engagement rates.
For instance, if you have 1,000 followers, you could get $10. The amount of money you can make with Instagram can depend on a lot of different factors. This includes whether or not you get sponsors, work with affiliate links, or through being a brand ambassador.
You can also make money by promoting your blog or freelance jobs. You can make money through promoting your dropshipping store or an eCommerce store where you sell your own products. Utilizing all of the tools to earn money on Instagram can make sure that you make the most money on this platform.
How Do You Get Sponsored on Instagram?
Getting sponsored on Instagram can make you a lot of money. On average, sponsored influencers can make about $300 per post. Influencers that have a significant following could make upwards of $25,000 per post. So how do you get sponsored? Here’s how:
Understand Who Your Audience Is
In order to get a brand to want to work with you, you need to know who your audience is. By knowing your audience, you can pick brands that you can successfully promote to your audience. For instance, if you’re a health and wellness brand, you won’t want to make sponsored ads for fast food companies. Understand who your audience is, then make a pitch to a brand that will work best for them.
What is Your Brand?
You need to define your brand before you can get sponsors. Your brand is how you get followers and you want to have success with promoting products. This means that you need to know which products fit in with your brand.
Use the Right Tags
Hashtags can help bring people to your page, so you want to be sure that you choose the right hashtags for your brand and whatever you are posting about. However, be sure that you haven’t selected any hashtags that are broken or banned, as this could reflect poorly on you.
Pitch Your Page to Brands
Once you establish a base and understand who your audience is, you can begin to pitch a sponsorship to a brand. Know what your brand is worth can ensure that you get fair money for your time.
How Much Money Can I Make?
The big question that you likely have is how much money you can make from Instagram. Using an Instagram Money Calculator, you can calculate your potential earnings as an influencer. It does take time to grow your Instagram account to a point where you can earn some money, but it can be worth it for a variety of different people.
Whether you want to be an influencer, earn clients for your freelancing business, or sell products, Instagram is one of the best tools that you can use to make money.