Have you ever wondered if you can make money on Instagram? The good news is that you can, regardless of the size of your audience.
Instagram is the second most downloaded app in the world, and nearly 60% of American adults use the platform on a daily basis. Globally, more than 1.22 billion people use Instagram every month. With the potential to expose your content to such a large audience, Instagram presents significant opportunities for creators to reap the financial rewards of their work.
What You Need for Instagram Money
You need three things to succeed on Instagram: Reach, Influence, and Engaged Followers.
Reach and Influence
The only reason businesses pay Instagram users is in exchange for exposure to the public. To make it worthwhile, these brands only care about influencers with large audiences. The more people that see them, the more money they make.
If you only have a few hundred followers on Instagram at first, your potential audience size is very small. With such a small sample space, your content doesn’t get seen by many people, let alone drive sales for your product or that of a brand. You really need at least a few thousand followers to get started in order to be profitable.
Engaged Followers
Of course, more followers will boost your ego. This raises your likelihood of showing up in more Instagram feeds mathematically. However, a large number of followers doesn’t necessarily mean high engagement, and banning followers on Instagram can leave you with little or no reach.
The problem is that if people are indifferent to your post, they won’t buy anything you promote.
If you rarely get comments, likes, shares and followers on your Instagram account, regardless of your audience size: Your chances of making money are slim. On the other hand, even if you only have 1,000 followers and they are actively interacting with your posts, the potential for monetization is still there. This means brands want to invest in you for the profitable actions you can take through your account.
Best-Paying Instagram Users in 2022
Obviously, celebrities have a famous start, and when they sign up for Instagram, they automatically get thousands of followers. While it’s not the same for all of us, it’s inspiring to see how much money someone can make as an influencer on a social media platform. Here are today’s top 5 Instagram winners:
1. Cristiano Ronaldo – who has 475 million followers and a post-cost average of $1,604,000.
2. Dwayne ‘The Rock’ Johnson – 334 million followers with an estimated average price per post of $1,523,000
3. Ariana Grande – 328 million followers with an estimated average price per post of $1,510,000
4. Kylie Jenner – 365 million followers with an estimated average price per post of $1,494,000
5. With 341 million followers, Selena Gomez has an estimated average post cost of $1,468,000.
7 Ways To Make Money On Instagram In 2023
1. Promote Affiliate Links
To make money with affiliate marketing, you need to join affiliate programs that pay well so you can add affiliate links to your Instagram and earn commissions from the sales you generate.
When done right, affiliate links can make a lot of money.
To do this, consider joining affiliate networks like Shareasale, Clickbank, Awin and Impact. You can also join individual affiliate programs directly from the company’s website or by searching:
“Affiliate Program + Business.” Instagram is a fantastic platform for promoting affiliate links because it has a large user base that includes interactors.
No matter how many followers you have, you can insert a clickable link to your Instagram bio. For example, fashion blogger Sophie Shohet uses this feature to promote affiliate links:
Since Sophie has over 10,000 followers, she can also create clickable Instagram stories. She also advertises affiliate links on her profile and in her posts in the following ways:
Instagram followers pay close attention to Instagram posts, so using captions to talk about affiliate links is a great way to get their attention.
However, not all links in Instagram posts are clickable, so adding the URL is not the best idea as readers have to manually copy the link from your text. . So it’s best to write a call to action that invites readers to click on the link in your bio. One caveat is that it’s important to disclose affiliate links because you get a commission for every sale.
2. Brand Yourself and Sell Your Own Merch
If you’ve grown your Instagram presence to the point of having a unique look, logo, tagline, or other feature, consider selling products that celebrate that. Not only will this increase your earning potential on Instagram, but it will also increase awareness and recognition for your own Instagram presence.
Take, for example, famous drag queen Trixie Mattel, who promotes branded merchandise to fans through the platform.
If you’re wondering what products you can sell through Instagram, the opportunities are endless. Here are some of the most common forms of branded products:
- T-shirts
- Tote bags
- Posters
- Coffee mugs
- Stickers
- Framed prints
- Hoodies/sweatshirts
- Cushions
There are several ways to sell your own merchandise via Instagram:
Use a print-on-demand service to upload your own designs and let consumers buy them on items like clothing, posters, home decor, and more. You can then use Instagram to link to these products and promote them to your followers.
Create a website to sell your products, then use Instagram to visually promote and drive followers to it. There are several important steps to designing your own website from scratch. Or you could just use expert web design services to make the ideal website for you.
Launched Instagram Shop, allowing users to quickly purchase any product you promote through in-app videos and images. You can direct customers to your website so they can complete their purchase there, or you can allow them to use Instagram checkout in the app. Keep in mind that in order to use these Instagram shopping capabilities, you must have a company or creative account.
3. Start an Instagram Shop
Instagram Store allows you to integrate your ecommerce store with your Instagram profile. Only in this method can you advertise your goods to Instagram users directly via profile posts, stories, explore, and shopping tabs.
In the past, there was a lot of friction for e-commerce store owners who wanted to sell through Instagram, but not anymore. Shopping on Instagram removes the barrier completely, allowing customers to easily check out products in the app and then visit your store with a single click.
Here is an example. Say you own a clothes business and want to promote a certain outfit. Simply upload a photo of a model wearing your outfit and Instagram allows you to tag up to five products per post (you can tag up to 20 products per carousel). Additionally, you may advertise things in stories and videos.
I want to show you how one particular Instagram page can kill it completely.
It’s called Doug the Pug. As the name suggests, it’s about the life of one of the most fun and adorable puppies out there, Doug. This page chronicles Doug’s life and takes subscribers on his adventures. Currently, Doug the Pug has 3.7 million followers. Doug the Pug is a novel that he wrote. The King of Pop Culture (which is pretty impressive since he can’t write.) He’s even appeared all over the country.
In other words, the owner of Doug has created a great brand.
Guess? Their Instagram profile serves as the focal point of the popularity they attract. With 3.7 million subscribers, you can bet that they drive a lot of high-quality traffic to the store and therefore get paid well for it. This is an excellent illustration of how to start a brand from scratch and monetize Instagram. Doug the Pug is a template that you can use to launch your own brand and sell from your online store.
Just use your creativity and come up with an interesting angle that gets people excited and invested in your brand. Although you have to spend a lot of time on this method, it can be effective once you have established a large and loyal following, and it offers you several ways to monetize. your brand in the future.
4. Social Media Marketing Services
Social media marketing agencies are one of the fastest growing industries today. Many big brands like Nike, Gucci, Louis Viton and Starbucks sell their products on different social media platforms.
So the opportunity is really huge.
Due to the phenomenal response, almost every brand wants to market on social media. According to Hubspot, 61% of organizations emphasize a positive impact on revenue growth with social media marketing services. You have understood that if there is an opportunity there can also be great competition. Because there are so many big companies that have been established to provide social media services.
So, how will you stand out from the crowd?
The solution is to choose a niche and work effectively. As we already know, Instagram has grown significantly as a commercial platform, and as a result, more people want to sell their goods there.
In order to stand out from the throng, you need seize this excellent opportunity. Few individuals are aware that they may manage Instagram Pages to earn money on Instagram as well. Yes, managing and growing Instagram is in very high demand right now.
To increase any account on Instagram, all you need to do is comprehend how the algorithm functions.
How to get your First Social Media Client?
I got my first client on social in 2017, but only because I had planned out a strategy to reach them. I will tell you in detail what this strategy is and step by step.
Step 1. Build your Social Media Community
Keep in mind that if you use Instagram or any other social media network, your followers could eventually turn into paying clients. So first, focus on building your own community. Create an engaging environment and understand what your audience likes and dislikes.
Step 2. Post Consistently
Consistency matters! If you want to be a successful social media manager, you can’t stay on Instagram for weeks. Your audience’s involvement and trust may be destroyed.
Establish a proper schedule of when and what to post. To manage your social media channels, you can use Hootsuite or Buffer.
Step 3. Approach People
You don’t have to wait for customers to come and request your services. Yes, it would be nice if that happened, but don’t wait for anyone. You can reach your target customers on Instagram. Remember that you don’t have to spam because everyone hates it. So act casual, like you’re making new friends and when you feel they need service, just ask.
Step 4. Delivering your services
People always forget this step, but it is just as important as acquiring customers. Because if you’re not meeting your customers’ expectations, how can you grow your Instagram business?
So, first, let’s understand what the exact needs of the customer are. Write them down and see their social media platforms (Facebook or Instagram) where they need help. This way you will be able to get the best results and you will eventually earn money on Instagram.
5. Coaching/Mentorship Services
I have seen many people selling their coaching services and making money from Instagram. Just like consulting, anyone can sell their expertise by training people.
Coaching or mentoring services are essentially face-to-face training sessions that usually take place over several weeks (2-4 weeks).
These services can be in any field such as personal branding, business, media, digital marketing, etc.
Here’s an example from Jessica Thiefels (founder of Jessica Thiefels Consulting). Instagram training and mental coaching are combined in her Instagram Marketing Course, a compilation of training and coaching videos.
For her experience, she has been highlighted in prestigious publications like Forbes and Entrepreneur. Again, here you need to be consistent if you want to sell your services. Create content relevant to your niche and showcase your experience and knowledge to your audience.
6. Make Money From Your Content
On Instagram, you may directly monetize your material, just as on YouTube. The three suggestions below should be tried.
Instagram Videos
Still wondering how to make money on Instagram? Video could be your answer.
In recent years, Instagram has taken steps to simplify its videos. For users, this means ending IGTV ads and moving on to Instagram videos.
Video on Instagram merges feed and IGTV video. Business profile users can access it through a tab on their account profile, and you can upload videos in the usual way.
Many Advantages are Provided by This Feature, Including:
- Trimming
- Filtering
- People and location tracking
These changes also mean that 60-second video previews, unless the video is eligible for ads, the 15-second preview limit remains. Eligible creators can then monetize Instagram through Instagram In-Stream Ads, which replaces IGTV ads.
The production of Instagram videos can be done in a variety of methods. Here are a few suggestions:
- Use Instagram videos for marketing purposes to showcase your products or services. For example, you can take a quick tour of your office or warehouse, showcase your products, or present customer testimonials.
- Another way to monetize Instagram videos is to create content for other brands. If you are a talented videographer or creator, why not consider creating engaging and original content for their social media platforms, including Instagram?
Live Badges
If you go live on Instagram, badges are a great way for your followers to show their support. Think of them as advice your audience can give you when you go live. Your viewers can purchase badges during the broadcast, choosing from three tiers of hearts, each with a different price (one tier costs $0.99, two tiers costs $1.99 or 3 tiers). $4.99 price).
The badges have been warmly received by the creators. The Instagram badge couldn’t have come at a better moment for fitness creators like myself, according to fitness influencer @charleeatkins. It’s an easy way to convey the love we’ve seen in our live streams so we can have a can continue to build and create for his fans.
Patreon and SubStack
You don’t have to rely on Instagram’s platform features to pay your bills. Third-party sites like Patreon and Substack are another great way to monetize your content. Either way, you want to give away a lot of free value on Instagram before encouraging your audience to follow you on either of these platforms for exclusive content.
7. Sell Poster Photos and Other Virtual Products
Instagram is all about pictures. Therefore, beautiful products, taking photos will sell more.
You can sell posters, paintings, drawings, animations, videos, and other virtual products based on images or videos. On each post, include an interesting caption and invite readers to visit the link in your bio. This is another popular way for people to make money from Instagram.
If you think you’re taking high-quality photos, it’s likely you’ll get paid for it. Once you’ve taken some great photos, use the best photo editing apps for your phone to get the most out of the photos you take. Try to be quirky, creative, and fun while taking pictures. These will get more attention than boring stuff.
You can use Instagram to promote your photo portfolio using relevant Instagram hashtags.
Read also: Top 5 Twitter Features You Should Use Now
