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How to Make Money on Instagram?
Over the years, Instagram, as a social media platform, has grown so big (with over 2.5 billion active monthly users) that it now offers almost everyone the chance to earn a living.
If you also want to join the league of those who get paid on Instagram, you need to look beyond creating random content that doesn’t get enough engagements and also learns various ways to effectively build your following.
Additionally, you should make a strategic plan to position yourself for the right audience and also draw the attention of high-quality brands and businesses.
Eventually, getting some significant income on Instagram can become easier if you learn the right ways to do it. In this article, we will be sharing some powerful information about how to make money on Instagram. Continue reading…
How much money can you make on Instagram?
Although the amount of money that a celebrity can make on Instagram is very high, other regular users also stand a chance to make a little income too.
For instance, according to Business Insider, influencers earn within the following ranges based on their number of followers:
- 1,000 – 10,000 followers can make up to $901 per post
- 10,000 – 50,000 followers can earn up to $2,061 per post.
- 50,000 – 500,000 followers can earn up to $3,517 per post
- 500,000 – 1,000,000 followers can earn up to $5,847 per post
- More than 1,000,000 followers can earn up to $15,000 per post
Similarly, content creators can earn about $100 – $1,500 from a swipe-up ad shared on their Instagram stories.
- At the moment, the influencers with the highest income are:
- Cristiano Ronaldo (with 475 million followers) earns about $1,604,000 per post.
- Dwayne ‘The Rock Johnson (with about 334 million followers) earns about $1,523,000 per post.
- Ariana Grande, with (328 million followers) earns about $1,510,000 per post.
- Kylie Jenner (with about 365 million followers) earns about $1,494,000 per post.
How Many Instagram Followers Do You Need to Make Money?
From a survey conducted by Hype Auditor, which included 1,865 influencers, it was shown that Micro-influencers who have about 1,000 to 10,000 followers make about $1,420 monthly, while Mega influencers who have more than 1 million followers make about $15,356 every month.
This shows that you need a minimum of 1,000 followers to start earning, and you should constantly work to grow your followers if you want to earn higher.
Some ways to grow your followers include sharing high-quality content that can record a high engagement rate, as well as building a strong bio that can help you attract and retain more followers.
On the other hand, you can consider buying to build your audience fast. You can buy 10k Instagram followers so that you can be qualified to earn more money.
7 Ways to Make Money on Instagram
There are several opportunities that you can leverage to make money on Instagram. Below are 7 effective ways you can use to start earning as soon as possible:
1) Sponsored Posts
Making sponsored posts is one of the ways to get paid from Instagram. This is when you work with various brands as an influencer to promote their products and services on your account for an agreed fee.
How do you get such businesses? Sometimes, they will come to you if they find your page engaging and have an interest in your audience. Other times, you can take some time to look out for businesses in your niche and offer them a partnership deal.
However, when finding companies to work with, make sure that you choose companies that offer products that are valuable to your audience and target businesses that can afford your rates for fair negotiations.
2) Open Your Own E-Commerce Store
Another smart way to make money on Instagram is to create your own e-commerce store to sell different products that are relevant to your niche.
Considering that you already have an audience in such a category, you can promote your products on your Instagram page, with links to your e-commerce site, to easily convert a good number of sales, which brings you more money.
In addition, Instagram offers a feature called Instagram Shop, which makes it easy for businesses to sell products directly on the platform.
3) Affiliate Marketing
This is, in a way, similar to forming partnerships with brands because you still have to be connected to an organization that offers particular products or services.
However, Affiliate programs basically pay you to sell other people’s products. So if you do not make sales, you wouldn’t get any payment. This is why when choosing a brand to join as an Affiliate, you should make sure they offer products or services that are relevant to your audience.
You can share your promo code, affiliate links, or clickable links with your audience to get conversions so that your commissions can be paid to you.
4) Selling Products
Instagram has launched some features that give people a chance to buy your products directly for more revenue, with no need for an e-commerce store.
More than 130 million people now make purchases through the Instagram Storefront feature every month. To start, the first thing is to have a Business / Creator Instagram account and then create collections of various products that you have for sale.
You can also make common themes such as gifts, new arrivals, etc. And like other online stores, Creators can make product description pages to offer more details.
5) Monetize Your Content
You can monetize different types of content on Instagram, such as photos, videos, and Stories. One way to do this is by creating highly engaging content that can attract sponsors or generate ad revenue.
You can choose your content themes around trending matters or other valuable topics that your audience will find interesting and educative. Additionally, Instagram also offers features like IGTV and Reels that allow creators to monetize their posts.
6) Earn Badges through Live Videos
Live video badges are also a great way to earn money from your audience when you put up real-time videos on your Instagram Live.
When you display certain products or talents, your viewers can support you by purchasing badges for as low as $0.99 up to $4.99. For better turnouts, you should promote your upcoming live video sessions via your Instagram posts and stories. And you can also make use of the Q & A feature to shout out to your participants while the Live is ongoing to boost engagement.
7) Promote Your Business
Promoting your business on Instagram is essential if you want to make money on the platform. By promoting their products or services on Instagram, businesses can tap into the platform’s massive user base and leverage its visual nature and high engagement rates to attract potential customers and build brand awareness. It also helps to increase your business visibility, as well as a higher chance to generate massive sales that bring in more money for you.
Instagram is currently a hot cake for anyone that is looking to make a constant income online. But you have to do it right to make the most of it. We have provided very useful tips that can help you start earning faster.