Instagram is the trend to be quantified with.
Why not? 1.7 Billion users worldwide! (source)
I’m not kidding! That’s the latest stat.
While it got its beginning as a photo-sharing application, it has transitioned into one of the biggest businesses throughout. Millions of companies, bloggers, non-profit organizations, and agencies are taking advantage of its popularity.
With that in mind, you may be questioning yourself: How do I make money on Instagram?
In this article, I’ll share you with some tactics so that you can start making money on Instagram even with fewer followers and join the community of Instagram freelancers.
- Is it possible to make money on Instagram?
- How many followers you need to make money on Instagram? 500? 1000? 10k or 100k or more?
- How to increase followers and engagement? 11 Instragram posting ideas
- How to make money on Instagram ( 5 great ways)
- 1. Make money on Instagram with Influencer marketing
- 2. Make money on Instagram with Affiliate marketing
- 3. Make money on Instagram by becoming V.A (Virtual Assistant)
- 4. Make money on Instagram by selling physical products
- 5. Make money on Instagram withby selling digital products
- FAQs on making money on Instagram
Is it possible to make money on Instagram?
Definitely. As long as you have great visuals and content that add value to your audience and capture their attention.
How many followers you need to make money on Instagram? 500? 1000? 10k or 100k or more?
The simple answer is, not as many as you’ve heard of.
The detailed answer is:
What niche you’re in, how much money brands are willing to spend, how much money Influencers are charging per post, how many followers do they have? What’s their engagement rate?
Basically, it would be best if you researched the existing market cap.
The more engagement you get on your post, the more money you can charge.
While Instagrammers with millions of followers make even 1000K per post, even those with small but engaged followings also have the scope to earn big money.
If you’re just getting started with Instagram, keep in mind the following points to generate quality engagement.
How to increase followers and engagement? 11 Instragram posting ideas
- High-quality visuals that are taken from mobile, not stock images though. You’ll also need to add rich, captivating captions and hashtags along with the visual name.
- Create videos – short demos, story telling, reviews, Q and A sessions, etc. Instagram reels works even great.
- People love to know what happens behind the scenes; its fun. Take them. It creates transparency that builds trust.
- Repost User Generated Content (UGC). The idea is to give a shoutout to the followers who consistently drops thoughtful comments by sharing their comment with a hashtag and tag.
- Announce small wins and big wins.
- Run giveaways.
- Create seasonal posts and offer holiday spirit. Post summer vacation pictures by incorporating the right hashtags.
- Encourage your followers to tag their friends and family members to your posts.
- Post inspirational quotes.
- Give a free shoutout to the local business or a competitor that’s doing great.
- Go live.
While you manage to post various content to get engagement and increase followers, it’s important to not sound spam by over posting content or being always promotional.
A balanced content mix and consistency in your calendar is the right Instagram strategy.
How to make money on Instagram ( 5 great ways)
Now that you know what kind of content can help you go viral let’s learn some ways to make money on Instagram.
1. Make money on Instagram with Influencer marketing
An Instagram Influencer is a human just like you and me who gains reputation on Instagram by consistently adding value to the audience by creating insightful content.
People consider Influencers are trendsetters and experts, meaning their posts are respected and considered seriously.
Many small businesses and brands partner with these influencers to promote their products.
But it’s not the numbers the brands look for, but engagement and niche-relevant Influencers.
It can be challenging to balance your revenue and integrity as an Influencer simultaneously. Still, if you have got other income sources to stay afloat, you can always have the freedom to work with specific brands.
How much should you charge as an Instragram Influencer?
Usually, product promotion involves various aspects, such as who will create the content – Is it the brand gives you to post, or you make the strategy? Is it a post or a video?
Most of the time, these deals are negotiable and can involve the campaign in charging a fee, a free trial, a free product, a gift, or a mix of these.
According to a survey, around 42% of Instagram Influencers with around 50k followers said they charge $200 to $500 per post – to help you understand how much you should charge based on your numbers. However, it is not easy – it takes a lot of effort and time to reach that stage. It’s attainable for sure.
You must know your numbers well so that you can rule the deal negotiations. What is the engagement rate? Is it increasing or decreasing monthly? You can dig more analytics in your business account.
How to find brands to work with?
If you’ve established a noteworthy community with a considerable engagement rate, the chances are big that brands will find you and offer great deals.
But, as you’re growing your numbers step-by-step, you must find the brands that are to your level and can show interest in working with you.
You should signup for Influencer marketplaces like Crowdtap, Grapevine to increase your sponsored content opportunities.
It is also important that you let the potential audience know that you’re open to paid collaborations by making the information visible on your bio.
While you get excited in the process of making easy sponsored money, be careful not to lose your audience’s trust by promoting irrelevant or unworthy products.
2. Make money on Instagram with Affiliate marketing
You recommend brands’ products; when they buy from the special affiliate link you’ve provided, you will be rewarded with a commission by the brand.
Easy, isn’t it?
Signup for affiliate marketplaces like Clickbank, ShareASale, Amazon Associates, etc., get your unique link, promote and earn.
While Instagram doesn’t allow a clickable link option in the post, you may need to direct the users to your bio page, where you can add the affiliate link and recommend the users for purchase.
You can create fun and captivating stories with visuals and add links to Instagram stories, an easy-peasy way to promote affiliate products and earn commission on the Instagram channel.
3. Make money on Instagram by becoming V.A (Virtual Assistant)
Celebrities of any field don’t have the time to manage their Instagram accounts – posting content, increasing their reach and engagement.
All you have to do is reach such people and become their V.A, where you will be held accountable for managing their overall account, right from managing DMs, scheduling content to running paid promotions.
4. Make money on Instagram by selling physical products
Like an e-commerce store?
Yeah! You can sell your own products (if you have any) or suppliers’ products. Look around your local surrounding for small businesses or individuals who’re selling interesting products. Partner with them and start selling their product on your Instagram.
To happen hassle-free and successfully, you will also need to partner with dropshipping freelancers to deliver the products to Intracity/state.
Tie up with print-on-demand service provider to print and ship t-shirts, bedsheets, pillow covers, mugs, arts of customized designs.
5. Make money on Instagram withby selling digital products
Write eBooks and publish on Amazon. Get the product link of Amazon’s and promote it on Instagram.
Similarly, you can create courses on Udemy and sell them via Instagram?
When you have talent, why not make some extra income with it?
Add stickers and product tags to your Instagram stories so people can buy from the app itself.
The other great way to earn money on Instagram is by selling your photography and design skills. All you need to do is showcase your skills for free for a while until you get some traction and then start charging.
You can offer photo-design services for individuals and businesses who require great visuals for their websites or articles.
To showcase your talents, offerings and consultation services, and make more money, it is important that you have a blog. I highly recommend it in 2021 and even beyond for obvious reasons. Here's a great step-by-step guide on launching a blog you might want to check out.
FAQs on making money on Instagram
How to make money on Instagram?
a) Signup for affiliate marketplace and promote products to earn commission
b) Promote sponsored content
c) Create and sell your own (digital or physical) products or partner with a local supplier and dropshipping freelancer to deliver the physical products.
How much do Instagram Influencers make money?
If I break down Instagram Influencers into categories, here’s how it looks:
Micro-Influencers (Accounts with around 20K followers) can make around $50 to $200 per post.
Mid-level Influencers (Accounts with around 50k to 100k followers) can be made around $200 to $300 per post.
Top Influencers (Accounts with million and more followers) – I’m not sure about the accurate numbers, but definitely huge money.