If you are looking for ways to earn money on Instagram, you’ve headed up in the right place. Instagram allows you to earn money in many ways possible, letting you to turn the app as a ‘source of income’.
Besides being a social media, Instagram is also a platform where people could leverage out of it lucratively. The huge 2 billion active user-base on Instagram led to the growth of content creators who can use the app productively and earn money out of it just like YouTube. While YouTube content-creators majorly gets paid due to advertisements, creators on Instagram have multiple options to monetize from the app.
Having handled an Instagram page for 3+ years, and after referring multiple websites, I had summed up with seven best ways to make money on Instagram. Each of the seven ways is equally important in its own way and scrutinize which one suits you well, rather than blindly adopting everything.
Instead of scrolling the reels for hours, you can leverage the platform to the best. Let’s go ahead.
7 Ways to make Money on Instagram
1. Partnering with brands for Sponsored Posts
You might have come across “Sponsored Posts” while you scroll Instagram. Sponsored posts are contents by influencers or the content creator as a result of collaboration with brands or companies. Brands usually target influencers (especially micro) to boost their reach to a locality. These collaborations allow influencers or content creators to earn money, despite having even few thousand (<5K) followers.
After reaching a certain level of followers with more engagement, content creators are approached by brands to sponsor their brand content with a ‘creative brief’. The creator is then responsible for creating engaging and authentic content seamlessly integrating the brand’s messaging into their own brand’s messaging.
If content creators have a good reach, engagement and follower count, they could start earning from early stages itself.
Read more on How much social-media content creators and influencers are earning.
2. Affiliate Partnerships
Affiliate partnerships are similar to sponsored posts, except in the fact that creators are paid as commissions for the content rather than a flat rate. Affiliate commissions only happen after the intended conversions.
Through affiliate marketing networks or directly from the brand, creators earn a percentage of sales – typically anywhere from 5 to 30% – made via their referral links or discount codes. In some cases, this is a great opportunity as the earning potential is endless vs a flat-rate fee.
With genuine recommendations and endorsements, this approach helps creators to provide value to their audience and earn money at the same time.
3. Donations and Gifts
On Instagram, you can also directly profit from your followers or viewers. You might have seen “Send Gifts” on some of the reels on Instagram. Viewers of these reels can send virtual gifts – “Stars” to you (creator) as a “thank you” gesture for posting the content. The creator gets a revenue share of $0.01 USD per star when those gifts are sent to them. Users can buy these stars from the app and provide it to their favourite content creators or influencers.
You must have a professional account, be at least 18 years old, have at least 500 followers, and continue to abide by the Instagram Community Guidelines in order to be eligible to receive virtual gifts from your audience. You have to reside in a nation where the feature is accessible; Instagram maintains a list of these nations on their blog.
Read more about Earning via Donations and Gifts on Instagram.
4. Sell Products & Services on Instagram
Instagram can be heavily leveraged and is a great platform to sell your merchandise, or any product or service, if you have an engaged follower-base. According to reports, about 76% of consumers have purchased a product they saw in social media post.
With this potential of driving customers, Instagram makes it easy to pitch, reach and sell your merchandise or product. You might discover that as your following becomes more devoted, people are eager to learn more about your viewpoint and level of experience in your industry. For this reason, a lot of creators decide to sell digital products such as e-books, courses, mentoring, or consulting sessions, or to offer coaching services.
Regardless of their industry, creators can leverage their experience and skills to offer insightful digital products that teach their audience new skills and open up a very profitable revenue stream for them.
5.Subscriptions for Exclusive Content
You can also use Instagram to offer your audience exclusive content that is hidden behind a paywall. With subscriptions, you can show off particular content to a select audience who have paid for access to it.
For your paid subscribers only, you can create broadcast channels, posts, stories, Reels, and Lives. Instagram has organized all of your subscriber-only content into a distinct tab on your profile, denoted by a crown symbol.
You will be able to activate the feature and choose your monthly price by visiting your professional dashboard once it has been confirmed that you meet all eligibility requirements. At the moment, Instagram does not deduct any portion of your monthly subscription fees.
6. Create an Instagram feature account
Instagram feature accounts serve as central locations for showcasing images from various niche creators. On a travel page, for example, pictures of prominent travel bloggers are displayed with credit tags. You can look at these countless topic-organized Instagram feature accounts as a source of inspiration.
But is it possible to profit from this kind of page on Instagram? Users who want to be featured on your Instagram feed or Stigories can purchase spots from you once your account has reached a suitable size.
Many are prepared to spend a sizable sum of money for such prestigious real estate and exposure. Paid spotlight slots typically cost between $15 and $30 per post. Other Instagram hubs run engagement groups called “like for like” and follower loops, and they charge $20 to $30 a month for VIP memberships.
Although you won’t need to purchase or sell any physical goods to make money with this method, you will need to dedicate a significant amount of time to interacting with accounts, contacting potential clients, and consistently increasing your following.
7. Instagram Marketing services
Are you proficient in creating content, writing captions, or Instagram marketing? If so, you might be qualified to work as a freelancer on Instagram. You can charge $20 to $50 per hour for your services, or even $100 for creating captions, and you can earn a good living by advising other businesses on enhancing their Instagram marketing strategies.
Increase the number of freelance clients you book, and promote your services on Instagram by using your bio. Additionally, you can promote your services on websites like Upwork and Fivver. Additionally, think about including online scheduling on your website so that clients can make reservations straight from it.
Bonus: Creating Virtual Influencers
Virtual Influencers are growing rapidly on social-media and they possess huge potential of earning money than real human influencers for few reasons.
Virtual influencers are models created by AI for the purpose of being flexible, and adaptable to any need of a brand. Brands are preferring virtual influencers to human influencers and they are even ready to pay ₹5 – ₹10 lakhs per campaign.
You can create an AI influencer in platforms like “Rendernet AI” and use it on social media to drive engagement.
Here are reasons Why virtual influencers are preferred and they earn more than real human influencers.
(For more such interesting informational, technology and innovation stuffs, keep reading The Inner Detail).
Kindly add ‘The Inner Detail’ to your Google News Feed by following us!
