There is money to be made on social media, regardless of whether you are a business or a content creator. So, could you be the next Instagram millionaire?
If the American dream is to work hard and earn money, Instagram’s ambition is to “make money without working hard.” But how much money can you make on Instagram? Can you really make a full-time income from social media?
There are good ways to monetize your Instagram account. First, let’s look at how much money influencers and top brands make on Instagram.
How Much Money Can You Make On Instagram
Instagram isn’t a money-making platform, right? It’s all about the likes and follows, isn’t it? Wrong.
Instagram can be pretty lucrative so long as you are willing to put in the work and make it happen. Profitability on Instagram is influenced by many factors, including your experience, audience size, engagement, marketing strategy, and even a tiny bit of dumb luck.
A social media influencer earns an average of $2,970 a month. Due to the broad variety of highs and lows, focusing on “average” numbers is not the best strategy. Micro-influencers with over 1,000 to 10,000 followers earn an average of $1,420 per month, while mega-influencers with one million followers earn $15,356 per month.
How To Make Money On Instagram
How many hours do you spend a day just sitting idle and scrolling through social media apps? If you’re like us, you spend the majority of your time on social media, so why not earn money while doing what you love? Here are our top tips on making money on Instagram. Let’s Go!
Become An Affiliate
If you want to make money on Instagram, you should try being an affiliate. But just what is an affiliate?
Do you know those people on Instagram with thousands of followers? The ones posting photos of their latest shopping haul, those perfect selfies? Yes, that’s right, bloggers and influencers are making money by working with companies to promote products related to their niche.
To become an affiliate, consider reaching out to shops that offer affiliate programs. You will get rewarded when a customer purchases from the brand using your link or discount coupon.
Sell Merch
To earn money, you can use Instagram to promote other revenue streams. Consider placing your brand on goods if you’ve built a distinctive style, logo, slogan, or anything else that people may associate with you.
You may earn money by selling your products and receive free attention from individuals wearing your t-shirts and sweatpants around town. For example, the most fabulous drag queen, Trixie Mattel, is a social media influencer who sells branded merch on Instagram.
Collaborate With Brands
The most popular way for Instagram creators to earn money is through commercial partnerships. There are numerous collaborations between companies and influencers, ranging from being compensated for an Instagram post promoting a specific product to receiving free products in exchange for your time and skill. Begin by posting a few of your favorite things—restaurants, skincare, or whatever to use as examples when contacting brands.
Offer Paid Tutorials
Rather than generating money indirectly (via business advertising on your page or through other advertisements), your followers pay you directly for a service you’re delivering.
You may charge for an online masterclass if you are a certified expert. Fitness influencers frequently monetize their followers by sharing free workouts and referring to a paid training program.
For example, film colorist @theqazman offers masterclasses on Instagram, and Individuals serious about learning the ropes pay for his expertise.
Create An Instagram Shop
Instagram Shops provide users with an easy method to monetize their accounts. Users can purchase items through the platform’s built-in e-commerce capabilities, and setting up a store is simple. Create collections or handpicked products offered in themes to personalize your shop. New arrivals, gifts, and seasonal trends are all prevalent themes.
Monetize Your Content
The next phase is to enable commercialization. Live badges are a newer feature that helps Instagram artists and influencers earn money. Consider Instagram Live badges as tips you can receive during a live broadcast, a popular notion borrowed from TikTok.
When you go live, make a point of announcing that you’ve enabled Live Badges and thanking anyone who purchases one if you have. You’ll be astonished at the amount of goodwill that merely expressing “thank you” will generate.
Cross-Promote Your Blog Or Vlog
You’ve created your blog or vlog and now need to grow it. Have you ever tried linking to your Instagram?
Linking your blog or vlog to your Instagram account is more than just having a pretty picture on your bio. It’s highly beneficial for branding, and it can be a powerful way to increase engagement on your Instagram posts.
For example, if you’re a foodie who posts images of food they’ve cooked, you can connect your blog, where you provide complete recipes. The recipes on your blog may also include postings with affiliate links, which means you can earn money along the way!
Ally With Other Creators
Partnering with other creators lets you share your business with their audience (simultaneously providing the partner with exposure for your audience—a win-win situation).
When looking for collaborators, it’s critical to consider the substance and values of those with whom you’ll be collaborating. You don’t want your relationship to appear disingenuous to your customers.
Key Takeaways
Here’s a recap of how to make money on Instagram:
- Affiliate marketing is one of the easiest. If you already have an audience, brands will pay you to promote their products for them.
- Monetizing your Instagram account might sound like a “get rich quick” scheme, but there are smart ways to do it.
- Promote other brands’ products or sell your own (even old stuff!)
- Link your blog or vlogs so you can earn even more money!
Ervin Kalemi
