If you have probably wondered how a vast number of Instagram users cash out on the social media platform, you are not the only curious person who wants to find out.
Instagram has grown to become one of the fastest-growing social media platforms, gaining over a billion active users. It was one of the top five most downloaded applications in the App Store and Google Play in 2020.
Initially, the platform avoided monetization of creator content for some period, however since it started sharing ad revenues in 2020, it has added more revenue-earning features.
Over the years, Instagram has rapidly evolved from just a picture-sharing app to a renowned digital marketing tool, used by online influencers and businesses to connect to their target audiences worldwide.
According to influence.co, Instagram accounts having over 1 million followers can make over $1,000 per post.
Similarly to Facebook and Tiktok, social media marketing on Instagram is at its peak, and just like every other social media platform, there are diverse ways to generate money.
In this article, you’ll discover that making money on Instagram isn’t restricted to just celebrities and stars. Even as top Instagrammers are making thousands of dollars per post, still, those with small but active 1k followers, have the potential to earn their own money.
How Do You Start Making Money On Instagram?
Here’s how you can start making money on Instagram:
1. Brands Partnership
Partnering with brands is one of the most assured ways to earn money on Instagram. What you have to do is search for a brand that synchronizes with your value (content).
Negotiate deal terms, and start earning via your Instagram account. The stronger your account, the more involved your followers are, and the bigger your earnings.
Instagram influencers that are well established make on average $300 for a sponsored post. They can earn anywhere from a couple of dollars to a million dollars per post.
To enjoy these high earnings from brand-sponsored posts, you need a minimum of 5k followers and a strong engagement rate. The more followers you have, the more money you can make.
Also, your followers must be well involved with your every post and content.
You may also like: How To Make Money On Facebook
2. Affiliate Programs
Similar to brand partnerships, an affiliate program essentially pays you to market people’s (clients) products.
Unlike getting paid for brand-sponsored posts, with affiliate offers, you get paid if people purchase the product or service you’re promoting. So, if your followers buy a product from the brand through your affiliate link, you earn some amount of money.
You can join affiliate networks such as Clickbank, Impact, and Shareasale. Since Instagram possesses a strong user base of active audience, it is a good platform to promote affiliate links.
3. Instagram Shop
E-commerce has thrived all the more over the past few years, with Instagram promoting the sales of products and services. It has turned into a huge sales promoter for e-commerce shops.
Stockpiling your products on Instagram Shop enables your followers and fans to access and purchase your products with ease.
You can also choose to integrate your product within your content. You can make a post with your product on display and get your followers asking where and how they can purchase the product; they’ll make selections and payments with just one tap or click on the tag you’ve assigned to the product.
Products can also be purchased throughout Instagram through features such as shoppable ads, Instagram Shop tab, and live shopping.
Check this out: How to Make Money on TikTok
4. Content Sales
With Instagram, you can monetize your content (video) with ads. Millions of photos and videos are uploaded to Instagram daily and modern viewers desire originality, so they are mostly interested in user-generated original content.
To earn through your content, allow In-Stream Video Ads. Your earnings are dependent on the number of views your Video reaches. 55% of any ad revenue generated per view is paid to your account.
Some of the means by which you can monetize your content on Instagram are via; live badges, IGtv, and Patreon.
5. Instagram Coaching
This is for Instagram users with massive and engaged followers; you can make money by coaching others to do the same.
A lot of people on social media are interested in building and monetizing followers, if you know how to do it, and have equally done it yourself, you can make a huge amount of money.
You could also offer online masterclasses or tutorship in your field of expertise. By doing this, you can monetize the teaching and get paid for access to your masterclass.
Foundr for example, have built a huge audience on Instagram from educating their followers on business strategies. The founder – Nathan chan, also has gained massively from the sales of his Instagram marketing expertise in an online learning course titled “Instagram Domination” at a staggering amount of $1,997.
6. Info Product Sales
Info product is somewhat of a soiled term, however, it doesn’t require you to sell dating advice or funny diets online to make money.
If your Instagram account enlightens your audience on how to do a particular thing, be it learning or practicing, you can produce a high-end info product with monetary value.
7. Search for Freelance clients
Since reaching 1 billion active Instagram users, the social media platform has become a favorable avenue for networking, particularly for content creators.
Continously, more and more creative professionals utilize Instagram as an online portfolio, showcasing their skills and experience.
Regardless of your niche, whether you’re into filmmaking, ghostwriting, or designing, you can use Instagram to search for clients.
You just have to ensure authenticity in your content and you will maintain relevance.
There exist a world of limitless possibilities for creators and influencers to make money via social media, and Instagram is not one to be left out.
Instagram is one of the rapidly evolving social media platforms with millions of active users. When properly applied, it’s easy to make money on Instagram.
Once you are able to build and sustain an audience, coupled with the investment of time and effort into it, there are lots of ways to make money on Instagram.