What are the top ways you can make money from Instagram? I’ve already touched on this in a previous post here. But that was over 5 years ago. It’s amazing how times change.
In 2021, I’d expect there to be a lot more people making money from Instagram today than in 2015. This is why I thought it would be a good idea to give you some of the best ways you could make money from Instagram in 2021.
Table of Contents
- Can you make money on Instagram?
- How many followers do you need to make money on Instagram?
- How much money does 10K Instagram followers bring in?
- 5 Ways to Make Money from Instagram
- Final Words
I talk to entrepreneurs all the time and, whenever I ask them how many Instagram followers they have, they always respond with, “I don’t know, but it’s in the thousands.” So I decided to take a closer look at this topic and pull together 5 ways you can make money through Instagram that you might not have considered.
The world of social media is ever-evolving with new ways to make money. I’ve made some great side income using Instagram, and it can be a good focus for your mainstream of revenue too. This can be done by promoting businesses, selling products, and affiliate marketing (similar to blogging).
Building trust from your customers is vital to creating lasting relationships with them. By targeting the right audience and maintaining an active presence on Instagram, you can also make money from Instagram.
Can you make money on Instagram?
Making money on Instagram is possible if you know the right tricks. Instagram influencers are one of the well paid among any other social media personalities and it has become an upbeat profession too. You can make money from Instagram with brand promotions, affiliate marketing, and so many other opportunities.
It’s not that hard that you think!
How many followers do you need to make money on Instagram?
To make money on Instagram one must have a minimum of 10,000 genuine followers which helps to attract brands to use the influencer’s popularity to promote their products or services. So a larger fan base of followers ensures more money flooding in.
How much money does 10K Instagram followers bring in?
Instagram users can make money from Instagram once the fan base increases to 10k which starts streaming in big brands with sponsored payments to influencers. On average $88 per post is paid but the price varies depending on the brand’s popularity and budget.
5 Ways to Make Money from Instagram
Making money online has never been easier with Instagram. There are numerous ways you can earn money for your profile via Instagram, and this guide will go through each one of them in detail.
By the end of this guide, you should have a good understanding of how to gain followers on Instagram and how to effectively use them to your advantage in order to make money online.
1. Become an affiliate
Instagram users engage in the method of affiliate marketing as one of the most popular ways to make money from Instagram.
Affiliate marketing involves the process of redirecting products or services links with their Instagram accounts through which the followers get connected to the particular product or service with which the Instagram influencer is partnering with.
These affiliate links on the Instagram account are designed in such a way so as to drive the traffic of followers to those specific products which eventually converts interested visitors to customers.
Some of the best affiliate platforms for affiliate marketing are:
- Amazon Associates
- CJ affiliate etc.
So now the question arises as to how much money can be earned from this? Whenever a sale is made from an affiliate link, the influencer earns a commission from the total sale value depending on the individual brand which ranges from 10% to 20%.
As observed from this it can be used as a viable option to make money from Instagram through this method.
2. Partner with a brands for promotions (Sponsorships)
Instagram users can also make their way to money-making by grasping the opportunity to promote any brand for sale and purchase the brand company’s product or service.
After gaining popularity as influencers their followers pursue their choices and preferences which becomes a trend and this is why Instagram influencers are always looked upon by high-profile brands to cater to their following fan base in purchasing their products and services.
The total amount of money involved in the purchase also accounts for giving a commission to the Instagram influencers.
Well as an Instagram user you would need at least 10,000 followers to receive brand promotion. Also on youtube 1000 subscribers are required to get the benefit of the same which is a great option to earn money from the branded companies.
Some Instagram influencers get flooded with offers in the form of pecuniary benefits from brands owing to their large number of followers. But few of them also contact their own side proposing promotion of their brand products.
As per a survey, Instagram accounts can make up an earning of 88$ per post which varies depending on other factors like a brand position in the market, accessibility of the service or product offered by brands etc. But it is the most commonly used method by celebrities and famous Instagram influencers to earn money.
3. Make money off your content using IGTV ads
Instagram IGTV ads are another way to make money for influencers to connect with their fans but on a deeper level. The influencers who want to produce an impact of their work on a larger scale get the space for both earning for the content they upload and at the same time become a powerful influencers in Instagram.
Videos that are more than 3 minutes long and have over 30,000 one-minute views are one of the biggest factors in converting a mere video to a money generating video i.e. monetizing IGTV content with IGTV ads.
Of late influencers are uploading videos on their Instagram account on a frequent basis to avail this opportunity to earn money.
The amount earned on these monetizable plays accrues to 55% of the ad revenue generated per view which is paid on monthly basis.
Moreover, the influencer can promote its IGTV channel by sharing previews on Instagram Stories and even capture the audiences of Facebook by using the share to Facebook option while uploading. So one can utilize their skills of video making into money earning opportunities through these ideas and can make money from Instagram.
Check out the terms and conditions of IGTV ads here
Who is eligible for IGTV ads?
1. At least 10,000 genuine followers
2. Minimum 3 minutes long videos
3. A minimum of 30,000 views in the past 2 months and at least one minute of average watch time.
4. Creating and selling a physical or digital product or offering a paid service on Instagram
Instagram users also make money from Instagram by selling a physical or digital product to their followers. This can be done by building a habit of posting about the products regularly in the Instagram account which will be viewed by the followers and in turn, most of them will be converted to consumers.
It will be best to reveal the process behind creating those products which will help in gaining the confidence of the followers about the benefits of using the product after purchase.
Also showing variations of the product helps in promoting the sale of products furthermore effectively.
Since the majority of products are sponsored by brand companies, influencers are paid a commission on every purchase.
Interestingly some of the biggest markets of Instagram include Travelling, beauty and make-up, health and fitness, travel, fashion, jewelry and apparel, accessories, lifestyle, music, business, and animals.
Well, it is not unheard of for those with more than 1,00,000 followers to earn as much as up to $900 for each photo sponsored in Instagram posts.
This clearly shows the pecuniary benefits of passive income by using these ideas on how to make money from Instagram.
5. Manage Instagram accounts for others/businesses/brands
Instagram users can also opt for another option to make money from Instagram and it is to manage some other person’s Instagram account.
This process involves handling other people’s accounts which also pays well since a part of the revenue gained by the Instagram account owner is also paid to the one who manages it.
This can be done initially by the Instagram account owner who by going to the ‘people’ section clicks on ‘add new people’ and allows access to the one to be hired. After that, the professional hired will start the main work of managing the account.
Such hired professionals are known as social media managers who charge approximately $25 – $35 an hour and it has become popular among many newbie social media users.
And why not it be popular owing to the earning and feasibility of the work involved. Moreover, it requires creativity to grow the account in the social media platform which pays off well.
By observing the likes of the followers and posting consistently by tagging brands in posts also helps in the growth of the Instagram account professionally.
By knowing the Influencer’s worth in the social media market the professional can pitch clients like big brands who offer paid sponsorships.
By creating valuable content about the influencer and the brands, the company seeks to reward the professional, and that in turn is beneficial for both the owner of the Instagram account and its professional account manager.
So here we see that these tips will help you to be innovative and think differently while using Instagram as a money-earning tool. And the best part of using Instagram is to visually engage and connect with your audience.
The more fan followers you can have that much more chances of earning money through your Instagram account.
And this is not the limit because you can also earn by professionally managing others’ Instagram accounts which have surprisingly become a good option to earn money apart from other choices.
In a nutshell, I hope you can now use my ideas to experiment with this widely used social platform and make money from Instagram.