Do you want to know how to make money on Instagram? This is the ultimate guide to monetizing your Instagram account. Below you can find the 3 most common ways Instagram influencers make a living.
Although Instagram started merely as a photo sharing app, it is now one of the top income sources for many influencers and bloggers. With more than 800,000,000 active users per month (and 500,000,000 per day), there is great potential for marketers and brands to target their customers. Influencers who reach thousands or millions of these potential customers can benefit from the huge marketing budget many companies shifted to social media these days and found clever ways to make money on Instagram. Below you can find a short guide on how you can earn money with your Instagram account including three of the most common methods used by bloggers today.
Who can make money on Instagram?
But first, let’s take a quick look at who can make money on Instagram. A common misconception is that only bloggers with millions of followers can earn money with their Instagram account. However, this is not true! As soon as you accumulated a few thousand followers (normally 2,500+), your account is interesting for many small and medium-sized firms. As long as your followers are interested in your posts (you receive likes & comments), companies can use your reach for their marketing purposes, so you can start earning money with your Instagram account! The amount of money companies are willing to pay increases as your audience grows.
How can you make money on Instagram?
Probably the most common way people make money on Instagram is via sponsored posts. Publishing a sponsored post means that a company pays you money to upload a photo or video showing one (or more) of its products. Small bloggers (with a few thousand followers) normally make between $50 and $500 per posts, while celebrities make up to $500,000 per post! However, these amounts vary per niche and do not only depend on the number of followers but also on the reach of individual posts. Technically, even if a blogger does not earn any money by uploading such a photo, it can still be considered a “sponsored post” when the company sends him the product(s) for free.
Another way to earn money is by offering affiliate links to your followers. Thereby, people get a discount on each product they purchase via the link (or with a code) and bloggers earn a small commission for every purchase. This is especially lucrative when influencers get a fixed percentage but are able to sell very expensive products (Imagine someone purchases a MacBook for $2,000 and the influencer gets 10% - that’s a solid $200!!!).
Similar to sponsored posts, some companies also pay bloggers to upload certain content to their Instagram stories. This is very common for unboxings or restaurants. Sometimes companies even request a combination of sponsored post and photos or videos for the story. The firms often pay less for these stories (as they normally disappear after 24h), however, it is less effort for the bloggers and can be very lucrative as well.
Of course, all these methods can be combined, so that every influencer has multiple sources of income – even on a single platform like Instagram.
Don’t scam your followers
One important thing that I want to mention is that you should always make clear which of your posts are sponsored. Don’t try to scam your followers and trick them into buying products, especially when your audience is relatively young. You should also consider if it’s worth promoting products that you actually don’t like or that don’t fit your general style, because you might lose some loyal followers in the long run.
I hope you are now more aware of how to make money on Instagram. This list is, of course, not exhaustive and there are for sure other ways to earn money on the platform. If you have any questions or suggestions make sure to contact me here.
Do you want to see my Instagram? Check it out below!