Money is the need of the hour. Everyone is looking for different ways to earn money. Some go for hard work while some opt for smart work instead.
We all are aware that social media platforms give their users a chance to earn from them. They have various ways which will help you earn some extra cash for yourself.
There surely do exist other ways other than earning from social media platforms, but they’ll need your time, attention, and hard work. This is why most people earn from social media itself. Social media is less time-consuming, helps you earn money quickly while also making you popular.
It’s a win-win!
One such social media platform that’ll help you earn money, easily, quickly, and without much hard work is Instagram.
Instagram is evolving day by day. When it was first launched, it was just a photo-sharing app, but now, it has become a business platform.
Instagram has over 1 billion monthly active users, which makes it best for business. With this massive number of monthly audiences on the platform, it has become very easy to advertise, promote, and sell your products.
There are many influencers who have started their journey from Instagram and are making quite a huge amount of money from the platform. They have gone from 3 meals a day to earn about $15000 per day. All you need to make money on Instagram is a good (and true) follower count and engagement on your account.
With a good number of followers and engagement on your account, brands might themselves reach you for promotion, or even you can reach them and talk about the collaboration. Here, in this article, you will know a few methods through which you can make money on Instagram.
How Many Followers Do You Need To Earn Money On Instagram?
While you might think getting that blue tick on Instagram can get you started for earning money on the platform, but, my friends, you have got that wrong. All you need to make money on Instagram is 1,000 followers on your account. It’s not four zeros, look again 😉
With a minimum of 1,000 followers, you can get started with earning from Instagram. But here too, you need to adhere to a few rules or factors that brands and marketers consider while taking forward a collaboration.
- Engagement on your account: When I said 1K followers to make money on the platform, I didn’t mean the fake ones. Even if you have 100K followers and if all of them are fake, then, alas, it won’t do any good to you.
- Hashtags you use in your posts: If your posts are trending on the hashtag page, then, there are more chances of brands collaborating with you. So, make sure you use the right and trendy hashtags.
These are the two most important features that brands and marketers would consider while collaborating with you.
- How Many Followers Do You Need To Earn Money On Instagram?
- Methods To Earn Money From Instagram
- 1. Sell Your Own Products on Instagram
- 2. Sell License For Your Photographs Or Videos
- 3. Brand Promotion/Product Reviews and Sponsored Posts
- 💥BONUS💥 How to Make Money from your Content
- 4. Make Instagram Filters and Masks
- 5. How to Make Money From Instagram With Reels?
- To Sum Up
Methods To Earn Money From Instagram
1. Sell Your Own Products on Instagram
If you have amassed a considerable number of followers on Instagram, you can think and start an online store of yours. In this store, you can sell a huge variety of products relating to one or distinct niches.
How Does This Method Work?
You can have your own online store where you sell various products like T-shirts, handmade products, toys, e-books, and other such items.
When you have your online store ready, you can promote it on your Instagram page by posting stories about it. You can even post pictures of your products in a creative way and can add a link in the text description, which will direct your followers directly to the website where they can purchase these products. You can even post photos of your customers and ask them to review the product, which you can then add to your story or post.
There are various ways through which you can popularise your online store and earn more profit from it.
How Much Can You Make Through This Method?
Again, how much you charge for your products is what you earn. This method of selling your own products through Instagram is considered one of the most popular ones through which you can earn great profit. But, if something is famous, there always is a demand for that, and the demand, thus, increases competition in it, sorry, I’m learning demand analysis currently, please bear with the Ted talks on economics 🙂
But, always remember to charge minimal rates on your products so that people can afford them and won’t run away seeing the rates.
2. Sell License For Your Photographs Or Videos
If photography is what attracted you to Instagram, then why not earn from it? Having thousands of followers on your account might, obviously, have a buzz for your photos on the platform. You can license your photographs and videos and earn from them.
How Does This Method Work?
Licensing your photos and videos to brands means that you will be providing them the permission to make use of your photographs and videos to market and promote their products and services.
You can give the license of your images to clients for various uses like billboards, social media posts, print usage, etc.
You can post your photographs and videos on marketplaces, from where brands can have access to them and can utilize them for promotions of their products.
If your pictures have a buzz on the platform, then you can even ask your followers to buy your photographs from you. Who knows, you can even get a brand photography assignment.
How Much Can You Earn Through This Method?
Licensing your photographs in different categories like for social media use, for album use, for print, and various such others can earn you different sums. Like, you can charge $100 or more for prints, depending upon your popularity and the buzz you have on the platform, or $250 for use on social media.
So, for example, if you license your photograph at $100 per use and if client A wants to use one of your images, then the license could be broken into billboard usage at $200, social media usage at $100, and print usage at $100. Thus, your one image would cost the client $400 with three license uses.
So, this way, you can charge distinct or even similar rates on your photograph usage, depending upon your will.
3. Brand Promotion/Product Reviews and Sponsored Posts
Influencers, as the name states, influence people, to turn their decision towards purchasing or doing something. This is the reason why most brands are keen on collaborating with influencers.
Brand Promotion is the procedure to inform, remind, persuade, convince, and influence customers in order to drive their decision towards purchasing the brand’s product or service.
Sponsored posts are nothing but receiving compensation in turn of promoting a brand’s product or service via posts on your account.
How Do Brand Promotion And Sponsored Posts Work?
Most of the time, the brands you are collaborating with will send you their products for free, and in turn, you will have to review the product on your page, in short, promote it on your page by talking about it or by posting how useful the product is.
You can promote the product through various ways like giving product reviews, posting a picture of you using the product, talking about the usefulness, features, etc.
Suppose, if you are collaborating with a brand that sells electronic products then the company might give you a headphone for free, and in return, when you use the headphones, you will have to review it or promote it on your page.
If you are collaborating with a food brand or a restaurant, then you will get to try their dishes, and then you will have to promote them, along with tagging the brand or restaurant in the post.
Sponsored Posts are when brands compensate you for promoting their products/services on your page (posting about them, etc.) instead of giving away free products.
How Much Can You Earn Through This Method?
Although brand promotion is not a way where you can get paid, it’s still counted as one of the ways to earn money. In brand promotion, companies give you their products for free so brands usually don’t pay you for the reviews. Like, obviously, why would someone give you a headphone for free and then again pay you for the review or promotion, right? You get the product for free, and in turn, you have to review it, that’s what is brand promotion. Like, I would be extremely happy and delighted to give a review in turn of getting to eat a Brigadeiro or salmon patties for that matter.
But, as there always exist exceptions, some brands do pay you for reviewing their products along with sending you a free product hamper. So, in this, you get their product for free along with getting paid for the reviews you post on your page. The amount, no doubt, should be rightly discussed with the marketers.
Speaking about sponsored posts, according to my research, brands can pay you $10 per 1000 followers to $800 per 1000 followers. But, 42% of the influencers out of 5000 stated that brands paid them $200 to $400 per post. These influencers typically post pictures, videos, and stories for brand promotion, and sometimes, brands even repost the promotional posts on their official page.
💥BONUS💥 How to Make Money from your Content
You can now directly monetize your Instagram account with your content. Let’s see how!
In March 2021, Instagram made ads available for content creators for their IGTV’s in the U.S., the U.K., and Australia. IGTV ads appear when you watch a video from a creator’s feed. While this feature is yet to roll out worldwide, content creator’s from the above-specified countries can take advantage of this feature already!
So, how much will you get paid?
Instagram’s COO, Justin Osofsky, mentioned that content creators will receive 55% of the advertising revenue generated through IGTV. YouTube gives the same rate to content creators on the platform. For this reason, Instagram has become a great alternative for those who don’t wanna be on YouTube.
If you host lots of lives on Instagram, Badges are a fantastic way for you to earn money and for your followers to show their support towards you. They can be considered as tips that your audience wants to give you.
How Much Will You Get Paid?
Your viewers can buy you a badge during your live broadcast. Instagram lets the audience select badges from three levels of hearts that each have different price points (one for $0.99, two for $1.99, and three for $4.99.)
Badges have gone well with content creators. A lot of creators have positive reviews for them and have gained good profits from them. One review about Instagram Badges that you should definitely read is – “Badges in Instagram couldn’t have come at a better time for fitness creators like me. It’s an easy way to channel the love we already see in our Live feeds so we can continue building and creating for our fans,” says fitness influencer Charlee Atkins.
4. Make Instagram Filters and Masks
Instagram filters and masks are gaining popularity at lightning bolt speed. They’re thriving right from their commencement. So what really are Instagram filters and masks?
Instagram filters and masks are nothing but the various filters and numerous kinds of faces/ masks you get to use on the app.
Yes, they pay you!
But exactly how?
So the first one is that you work for a brand/company that’ll pay you for creating filters. The second one’s where you go on making trending filters and some brand/company approach you for collaboration where you make filters for them in return for money. The third and the last one is where you create filters, get them approved from Facebook and if they become famous, you can post a tutorial video of making them on YouTube and earn from there. Yes, this one’s a bit complicated.
Instagram doesn’t directly pay you for making filters, you have to choose one of the above-mentioned ways to earn through them.
You can use the Spark AR Studio app that’ll help you create AR filters.
5. How to Make Money From Instagram With Reels?
Reels just came and conquered Instagram. We all know the power of reels, if the people like them, they’ll viral in no time, making you famous all over the world.
So, how do reels help you monetize your page?
While Instagram hasn’t rolled out one way of earning through reels, you can make money from it through other-related ways.
Basically, what I mean above is that you can make promotional reels for brands and, in turn, get paid from them or receive goodies.
But to get brand collaboration offers, you will first need to have a good engagement on your account. You should also be able to make and should have earlier made trending reels. Cause this is how the brands will know what you can do for them.
So how do you make trending reels?
To make trending reels, content originality is the first important thing. Apart from your content being original, you should also make sure that it attracts and engages the audience. This way, your viewers will keep coming back to your page for more fun/eduction, whatever type of content you make.
You can use:
- Trending Filters
- Trending Audio
- Trending Hashtags
- And making reels on trending reel ideas (e.g., allors dance challenge was trending for a while, etc.)
Making reels on what’s trending on Instagram will help you go viral more speedily.
Do you see those video suggestions below filters/audios/hashtags?
Your video can be one of those too if you make reels with those trending stuff.
So, this is how you make trending reels on Instagram that’ll help you increase your reach and exposure.
You would be extremely happy to know that Instagram is soon rolling out an amazing and very helpful feature known as Bonuses.
Instagram’s Bonuses will help content creators earn money on every reel they make. The feature is not live yet but is already creating buzz all over the app.
A popular tipster, Alessandro Paluzzi, posted a screenshot of this new feature in action while in its testing phase. Though it is not clear if reels can be monetized immediately or only after they cross a certain threshold of views with bonuses, everyone’s already excited about them.
Instagram will be rolling out more bonus opportunities in the near future. And you don’t need pt to worry about them, we’ve our eyes on them, and you’ll get to know them from us as soon as they go live!
To Sum Up
Instagram is a whole new world with plenty of possibilities to explore. Instagram is the platform that is used by people of almost all age groups, and, thus, you can start to earn on the platform by becoming an influencer.
You don’t need to be of a specific age to become an influencer; you can influence people by creating more engagement on your page and thus increasing your followers. With a cluster of followers and their faith in you, you can direct their thinking and can convince them to buy a product and do anything. What you start as a hobby might even end up being a huge revenue-generating possibility.