It's obvious that Instagram is my favorite social media channel. It's a great way for you to share your life and to promote your business.
You don't have to have a large following and there are many ways to make an income. Here are seven of my top strategies for making money on Instagram.
- Earn money for posting sponsored content
- Promote affiliate links.
- Create an Instagram shop.
- Profit from your content.
- You can become an Instagram coach.
- Advertise your brand.
- Teaching your audience.
Ready? Let's go!
How can you make money on Instagram?
Instagram is still one of the most used social media apps, despite TikTok and other rivals.
In fact, Instagram app installations surpassed their previous all-time high of ten percent in the fourth quarter 2021. Its active users numbers are also impressive. Instagram now has 500 million daily active users. It sounds great, doesn't?
Mark Zuckerberg's comments may convince you that Instagram is a great place to make money. He stated that Instagram's goal was to become the best platform for creators to earn a living at the company's Creator Week in June 2021.
Many Instagram influencers believe that this is exactly what's happening.
Influence.co. reports that Instagram accounts with more than one million followers can earn at least $1000 per posting.
Potential influencers have more good news. Instagram is not just for celebrities. You don't have to be a celebrity to make money on Instagram.
How to Make Money with Instagram
Three things are necessary to make money with Instagram: influence, reach, and engaged followers.
Businesses only pay Instagram users for the exposure they get in return. These brands only want influencers who have large audiences to make it worthwhile. They can make more money if they have a large audience.
Your potential audience size is very small if you have only a few hundred Instagram fans to start with. Your content won't be seen by many people and even drive sales for your brand or your products because of the small space.
You will need at least 1,000 followers to get started.
Yes, having more followers can boost your self-esteem. It increases your chances of being featured in more Instagram feeds. A large following doesn't necessarily translate into high engagement. Shadowbanning on Instagram can result in little or no reach.
Problem is, if people aren't interested in your posts, they won't be likely to purchase anything you recommend.
It doesn't matter how large your following is, if you don't get many people liking, commenting, sharing and following your Instagram account, your chances of making any money are low.
Even if your followers are only 1,000, they can still engage with your posts and make you money. Brands are willing to invest in you due to the profit-generating actions that you can take through your account.
Seven Ways to Make Money with Instagram:
So now you understand why I believe Instagram is a great place to make money. With its large audience, you may be wondering if you can make money with Instagram.
Here are seven ways to make your Instagram account more profitable and bring in some cash.
1. Earn from Advertising Products by becoming an Influencer
Who hasn’t heard about Instagram influencers. Influencers are a great way to get noticed and make money on Instagram.
It is not feasible for those with less than 100 followers. You need to have a minimum of 3,000 followers and high engagement rates, as I mentioned earlier.
All you need to do to build followers is post photos of your interests. These images should reflect your personality and help you build a personal brand. You can find my entire blog on how I grow Instagram followers.
While you can follow a plan, Instagram followers will love you being authentic. Relevant brands will be more likely to approach you if you are sharing pictures and building your influence organically.
These are the criteria that you need to meet in order to earn money on Instagram.
- You create a sponsored Instagram photo, or video
- To promote a brand, you can include a hashtag, mention, link, or other promotional information.
- You can share it with others
- Brands pay you
This is a warning: Don't try to get sponsored posts if you don't believe in the brand that you are promoting.
Too many sponsored posts can also deter your audience, and cause a loss in trust in your brand. If you have a loyal following that is built on reviewing greasy food and visiting fast-food restaurants, then suddenly partnering with a weight loss brand can be a problem.
It's easy to forget, right?
Let's take a look at some people who have done this successfully in real life.
Adam Gonon, a New York-based fashion and lifestyle blogger, is Adam Gonon. He has over 115,000 followers and is not the most popular person on the planet, but that doesn’t stop him creating sponsored content every day.
"An Instagram post by Adam Gonon, partnering with Ebay. class="wp-image-164923" height="513" loading="lazy" sizes="(max-width: 700px) 100vw, 700px" src="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram2.jpg" srcset="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram2.jpg 700w, https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram2-350×257.jpg 350w" width="700"/>
Sponsored posts don't require you to promote fashion products or lifestyle products.
Amanda Holtzer, a nutrition, health and diet influencer, works with Juice Press and Costco to create sponsored content.
img alt="An Instagram Post by Amanda Ghee, in partnership with Costco. class="wp-image-164924" height="514" loading="lazy" sizes="(max-width: 700px) 100vw, 700px" src="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram4.jpg" srcset="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram4.jpg 700w, https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram4-350×257.jpg 350w" width="700"/>
Although her audience is not large, Holtzer is still a successful blogger who attracts hundreds of likes as well as decent engagement.
2. Promote Affiliate Offers
Affiliate marketing is very similar to sponsored posts. You only get paid if someone buys the product or service that you are promoting. Instead, you get a commission when people buy the product or service that you are promoting.
Both approaches have their advantages and disadvantages. Your success will often depend on who you are speaking to.
Sponsored posts can guarantee you an income but you can make more by promoting the right offer.
But, it is not easy to make an Instagram affiliate marketing plan.
It is much more difficult than running ads on your website. Instagram does not allow clickable links except in your bio. This is why you need a launch audience. Promo codes are the only way to promote an offer, and guarantee you get the affiliate income. These codes are trackable, so it is easy to include them to your story or post. You will still need to encourage your followers and get them to visit the affiliate site.
3. Create an Instagram shop
You can integrate your ecommerce store with your Instagram account by creating an Instagram Shop. This is the only way to promote your products directly through Instagram followers via your posts, Stories and the Explore tab.
E-commerce store owners who wanted to sell via Instagram used to face a lot of obstacles. Instagram Shopping removes all friction by allowing customers to easily view products and then go directly to your store with a click.
Here's one example.
Let's suppose you own a clothing shop and want to promote an outfit. You can upload a photo of your model wearing the outfit and tag Instagram up to five products per post. (You can tag up 20 products per carousel). Stories and videos can also be used to promote products.
I'd like to share with you an Instagram account that is absolutely killing it.
Doug the Pug is the name of the dog. It's about Doug the Pug, as the name suggests.
This page documents Doug's life, and allows his followers to follow along on his adventures. Doug the Pug currently has 3.7 million followers. Doug the Pug has his own book, Doug the Pug: King Pop Culture. This is quite impressive considering that Doug can't write. He makes appearances across the country.
Doug's owner, in other words has created a huge brand.
Guess what? Their Instagram account is the center of their popularity. You can bet with 3.7 million followers that they drive a lot of quality traffic to the store, and therefore get paid well.
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This is an excellent example of how to make money on Instagram by creating a brand from scratch. Doug the Pug could be used as a template to help you launch your brand and sell through your online store.
Use your imagination to come up with an intriguing angle that will excite people and make them want to invest in your company.
This method requires a lot of time, but it can be very rewarding once you have a loyal audience. You also have multiple options to monetize your brand.
4. You can make money with your content
Instagram is similar to YouTube in that you can also monetize your content through Instagram. Choose one of these options.
Are you still wondering how to make Instagram money? Videos may be the answer.
Instagram has taken steps to simplify its videos in recent years. This means that users will no longer see IGTV ads, but instead can use Instagram videos.
Instagram videos combine feed videos and IGTV. You can access these tabs from your business profile.
This feature has many benefits including:
- Location tracking and people
Video previews will now be 60 seconds long, unless the video is eligible for ads. Then the limit of 15 seconds applies. Instagram In-stream ads are now available to eligible creators. These ads replace IGTV ads.
There are many ways to create Instagram videos. Here are some ideas:
- You can use Instagram videos to market your products and services. You could show a short tour of your warehouse or office, showcase a product or highlight a customer testimonial.
- You can also make Instagram videos for money by creating content that is shared with other brands. You might consider becoming a creator or videographer and creating original content for other brands' social media platforms including Instagram.
Badges can be a great way for your Instagram followers to show support if you broadcast live. These badges can be viewed as tips that your audience can offer you during a broadcast. You can purchase a badge for $0.99, $1.99 or $4.99 from your viewers during a broadcast. There are three price points for the badges: one for $0.99, two at $1.99 and three at $4.99.
Creators love the look of badges. @charleeatkins, a fitness influencer, said that "badges in Instagram couldn’t have come at a more perfect time for fitness creators such as me." It's a great way to continue creating and sharing the love that we see on our Live feeds.
img alt="Charlee Akins Instagram Page" class="wp-image-164926" height="320" loading="lazy" sizes="(max-width: 700px) 100vw, 700px" src="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram6.jpg" srcset="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram6.jpg 700w, https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram6-350×160.jpg 350w" width="700"/>
Instagram's in-platform tools are not enough to pay your bills. You can also make money with third-party sites such as Patreon or Substack. In both cases, you will want to offer a lot of value on Instagram before asking your followers to follow you on these platforms to receive exclusive content.
5. You can become an Instagram coach or consultant
If you are a pro on Instagram and have an engaged following, why not teach others how to make it big?
Many people want to learn how to make money with Instagram. That's why I wrote this article. You can make a lot of cash if you are able to do it and have done it before.
As an example, take a look at Foundr.
Foundr currently has an impressive audience of 3.6million on Instagram. Because it is their forte, Foundr founder Nathan Chan sells his Instagram marketing expertise online at Instagram Domination, a staggering $1,997.
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Foundr is able to connect with a lot of qualified buyers through their Instagram account, as they have many businesses who are passionate about Instagram marketing. These prospects are more likely to pay for coaching.
What's the best part? If you have enough followers, anyone can do it.
You don't have to be a travel blogger or food blogger. Coaching can be very lucrative if your niche is well-known.
6. Advertise Your Brand to Make Money Indirectly
To generate sales, you don't necessarily need to have a business directly linked to Instagram.
Many entrepreneurs are able to leverage their Instagram followers to make money with a separate business. No matter what type of business you run, Instagram can be a great way to spread the word and generate sales.
If you have a tangible product you can show people using or if your business is service-based like a travel agency, Instagram can be extremely powerful.
Your followers will be more likely to see your posts, and may even consider using your business in future.
How can you increase the reach of your Instagram account's followers?
Use hashtags that are related to your industry or niche. This allows you to connect with others who are interested in similar topics. Geotags can be used to target specific areas.
Another option is to work with Instagram accounts with a similar following as yours; opening your account up to new audiences can help you promote your other account.
Upload high-quality videos and images. This makes your account standout and encourages others to follow you.
7. Learn from your Audience to Get Paid
You have two options for making money on Instagram: selling physical products online or promoting other people's products using affiliate links. What if I told you that affiliate marketing is a great way to make more money without needing to manage physical inventory?
It's called selling information products.
Info products may not be popular with everyone but you don’t have to offer dating advice, strange diets or low-quality products in order to make money on Instagram.
You can create a premium info product if your Instagram account teaches people how to do something, such as yoga, meditation, or woodworking.
This is a popular trend among Instagrammers. PixArch Studio is one example. It teaches advanced graphics courses to Instagram users.
img alt="An Instagram Post from PixArch Studio" class="wp-image-164928" height="320" loading="lazy" sizes="(max-width: 700px) 100vw, 700px" src="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram7.jpg" srcset="https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram7.jpg 700w, https://neilpatel.com/wp-content/uploads/2022/08/How_to_make_money_on_Instagram7-350×160.jpg 350w" width="700"/>
Students learn skills such as:
- 3D object creation
- Camera and render setup
- Interior and exterior design
The creators of the course use hashtags to promote it and share students' creations on their profile. You can also see product demos and why you should choose them.
The profile received only 23k followers within hours of posting it. However, almost 2,000 people liked the course.
It could be due to having a niche, keen followers and the use hashtags. The course is beneficial for everyone.
You can, for example, sign up to learn a new skill or develop an existing business.
The course is valuable and offers something that people can learn from.
You might consider creating a course if you are thinking about it.
How easy it is to make money with Instagram?
Although it's not easy to make money online. However, making money with Instagram is much easier than many other methods. Instagram has millions of users, so you don't have to build a following. You can tap into Instagram traffic.
How can you make the most of Instagram?
Your followers and you are the best way to make Instagram money. Some of the most popular ways to make money on Instagram are: getting paid for sponsored posts and starting an Instagram store, being an influencer, affiliate marketing, and becoming an Instagram shop owner.
How much do Instagram Influencers make?
Instagram influencers are able to make huge amounts of money depending on many factors such as their following size, engagement rates, niche, and more.
Influencers with the most success can earn $1 million or more, while the average income is $2.970.
How many Instagram followers are you required to make money?
It's simple: The more Instagram followers you have, the more likely it is that you will make money. Even if you have few followers, this doesn't mean that you won't be able to make an income.
Business Insider interviewed three Instagram influencers who said that they made their first money with Instagram when they had less than 3,000 followers.
Methods include sponsored posts and affiliate hyperlinks.
Instagram has been a popular social media platform for a while, and continues to release new features and interesting content. It's worth your time learning how to make money with Instagram.
There are many ways to make money with Instagram if you have an audience and can establish trust. There are so many business opportunities that Instagram can offer, it is easy to learn how to monetize your account.
Yes, even you.
What strategy are you using to make Instagram a profitable business?
By: Neil Patel
Title: 7 Ways to Make Money on Instagram [2022 Update]
Sourced From: neilpatel.com/blog/make-money-on-instagram/
Published Date: Mon, 22 Aug 2022 19:00:00 +0000