Sharing priceless photos and videos on social media has evolved into something more. It is now millions of people’s main source of income. Instagram is no different!
Millions of people are using IG it to make money. For this reason, a lot of individuals are curious about how to make money on Instagram.
Several features of this platform have made it much easier to do this. This guide will be useful to you if you too want to utilize it to make some money. We’ll talk about several approaches you may take here. Now let’s start.
How to Make Money on Instagram?
Instagram offers you different ways through which you can generate a proper income. Their details are shared below:
Collaborate with Brands for Sponsored Posting:
This is one of the main and straightforward methods of earning on this platform. Any influencer can make good money by partnering with brands for sponsored posting.
We all know that Instagram has a large user base. Different business brands aim to have exposure to this large audience. To do that, they tend to reach out to different influencers on Instagram.
They ask you to mention or directly promote their product or service to your followers. In return, they give you gifts or money. Many believe that in order to earn like this, one must have millions of followers. However, that is untrue. Accounts with just 500-10,000 followers can make $10 to $100 from such posts.
You may also like to read about How to Get More Instagram Followers
Get Paid as Instagram Creator:
There are several options for you to monetize your work as an Instagram content creator. Meta makes significant investments to support content producers with engaging following.
As a result, these people get to generate money accordingly.
Here are different ways to do this:
· Using Instagram Live Badges:
Real-time communication between creators and their fans is made possible by Instagram Live, a fantastic feature. This feature may be used as a direct revenue stream if your audience is engaging.
Instagram allows creators to sell badges to their viewers.
These badges are in different shapes and are shown in the live chat with the viewer’s name. These badges are sold in the form of packages from $0.99 to $4.99. The more badges your viewers purchase the more money you make.
· Bonuses:
In the Bonuses feature, you get paid for hitting different milestones on Instagram. These milestones are of different types such as a number of lives, sign-up for IGTV ads, etc. When you hit this milestone, you get your reward accordingly. Just keep in mind that this is an invite-only feature. This means that only creators who are invited by Instagram can use this feature for now.
Make Money Through Instagram Shop:
If you want to know how to make money on Instagram, you need to learn about Instagram Shop. It is a simple e-commerce feature that is provided to users. Here, they can list and sell their products to their followers and general audience.
The special thing about this shop is that all the selling and purchasing takes place within the app. You simply list the products and the followers pick them and checkout directly. This has been a great source for many people to earn money without investing in building an online shop on any other platform.
Start Affiliate Marketing:
Another interesting way of earning on this social media network is affiliate marketing. With this program, you may make money as an influencer by receiving a predetermined commission instead of getting paid for each post.
This program is known as “Brand Ambassador” on Instagram.
Usually, brands approach people to join this program. They give you a link to their product that you paste on your bio. Whenever someone purchases this product through the link, the commission amount is transferred to your account. This percentage can range from 5% to 30% minimum. This means that each $100 product can help you make $5 to $30.
Offer Instagram Marketing Service:
As mentioned earlier, brands try to reach out to a large audience through Instagram. For that, they perform Social Media Marketing on it. Most of these businesses do not have time to market themselves on Instagram. They tend to hire experts for that.
You can get hired and offer this service to the brands. Your main job varies according to the brand’s guidelines. For example, they can ask you to bring more engagements to the brand’s account.
You can offer this service on a project basis or even on an hourly basis. It has the potential of making around $20 to $50 an hour. As for project-based marketing, writing only quality and engaging captions can make you $100.
Read also: Best Online Video Platforms for Creators
Final Verdict
Knowing how to make money on Instagram can be useful if you have an engaging audience. This platform is helping millions of people earn good money. There are different ways you can earn using this social media platform. They are basically related to partnering with brands.
You can also earn solo by being a creator or selling your products on Instagram shop. Some other main methods are discussed comprehensively in the information shared above.
FAQs
Is having a good number of followers essential for making money on Instagram?
Having a decent number of followers can actually be helpful in making more money. But methods like affiliate marketing can help you generate money without it as well.
Can I reach out to brands directly to get a partnership?
Of course. Reaching out to brands to get partnership deals is a great idea.
Can I run another brand’s shop on Instagram?
Yes. You can run another brand’s shop on this app as well.
