Instagram’s size and diversity are impressive. The monthly users of Instagram are equivalent to all the people in Europe and North America combined.
This is no small achievement!
Instagram states that 90% of its 2 billion active monthly users follow a company account. This statistic highlights the potential of Instagram for influencers and businesses.
Instagram is the fourth most popular social media platform. It hosts more than 25 million businesses that promote their products and services. These figures show how popular the platform is amongst businesses and influencers. Instagram offers a multitude of opportunities to grow.
Anyone who is willing to take advantage of these opportunities can make money with Instagram. It’s important to remember that success will not happen over night, especially if your account is small. To gradually grow your account and generate a substantial income, you must prioritize research and hardwork.
So…
How Can Instagram Make You Money?
Absolutely!
Anyone can make money from their Instagram content with a good strategy and some patience.
How many followers do you need to make money on Instagram?
You might be surprised by the answer – it’s not as many people as you think.
Brands are only interested in how engaged your fans are. Brands don’t care about thousands of followers that are not engaged with your content. Brands don’t care if you have 10k or 5k followers.
You can start earning money on Instagram with a 1k-strong following.
How much can you make on Instagram on average?
According to Hopper HQ’s Instagram Rich List 2020, Charli D’Amelio and Lele Pons are two of Instagram’s highest-paid influencers who are not celebrities. They each make $264K for each post, now that they have been promoted to mega-influencers from micro-influencers.
Tomi Obebe is a micro-influencer who has 40k followers. In 2021, she earned $167,000 through affiliate marketing and brand promotion, as well as coaching for influencers.
Amber Broder is a skincare influencer who partnered for the first time with a brand in 2018 with just 700 followers. She earned $50 from the partnership for three posts. With just under 2k followers in 2020, she could earn up to $120 for each post and $75 for Reel.
This shows that Instagram has a lot of earning potential.
Where do you start? How can you make money with Instagram?
Find out.
Instagram: How to make money?
This section will explain the different ways that you can earn money using this platform.
1. Affiliate Marketing
is a form of affiliate marketing where you can earn commissions when someone clicks on your link and purchases a product or signs up for a trial .
Reach out to the businesses that you would like to work directly with to start an affiliate marketing campaign on Instagram. Tell them how your content is related to their products. Do not forget to tell them how much potential they can get from your Instagram followers – the bigger the better!
As we have already mentioned, even if your account is small and you only have a few subscribers with high engagement levels, you may be contacted by businesses for an affiliate partnership.
Joining an affiliate program is the fastest way to start . Amazon Associates is one of the biggest Instagram affiliate marketing programs. It offers up to 20% commissions.
When you join an affiliate programme, make sure your content and audience are relevant to the product or services you promote.
Do you think it makes sense to partner up with a fashion company if your job is to create gaming content? Nope!
Cellists can become affiliate marketers for brands like Soundbrenner. She earns money when her followers buy the music tool using her discount code.
Place your affiliate link in your Instagram bio, Stories, Reels and posts to maximize visibility.
it is a good idea to tell your audience about your affiliate relationships when sharing these links. Transparency increases the audience’s trust in you and your content. The more they trust your content, the more likely it is that they will use your affiliate codes.
2. Sponsored content
Brands pay for sponsored content. It’s not just to advertise their products and services. In the example below de Winton Paper Co., a watercolor studio, partnered up with Skillshare to create a tutorial on watercolors.
sponsored post tags are usually tagged with “Paid Partnership with [brand name]”, below the username.
Sponsorships are paid when you post unique content and tag brands. Why not contact them directly?
Search for brands that will likely partner with you. You can then DM the brand and explain why you want to work with them. Mention what the partner can expect from this partnership. You can get paid gigs if you have a large following and an average engagement rate.
3. Selling Products and Services
Instagram Shops are a great way to sell your products and services.
What is it?
Imagine as a store, where your followers can browse products and purchase directly from the posts or Stories you share without ever leaving the app.
This requires an Instagram business or creator account (explained below).
You want to open a shop?
- Click on Settings and then Instagram Shopping.
- Select your checkout method and your sales channels. (Instagram or Facebook)
- Connect your account with your existing product catalogue, which you can manage via Facebook, Shopify, and other eCommerce platforms.
- When you have added the products to your store, check to make sure it looks good.
- Final step is to submit your photo to Instagram. This can take anywhere from a few minutes to two weeks.
Shoppable content can be created as soon as Instagram approves your shop. Shoppable content includes posts, Stories or Reels where you can add your product tags. These product tags can be tapped by users to find out more information about the products.
These posts are accompanied by a small shop icon. Shoppable posts are used by Funcult to promote its fringe banners.
Select Tag Products while creating the post. Insert the product ID and choose a product from your Product Catalog. Then publish the post once you have reviewed it.
Create a Story, then tap on the Stickers. There’s a Shop sticker to help you tag your product. Users can visit your Story by clicking on the tags of the products.
Alyse’s Story is a great way to promote their product. They share photos and add a product tag.
Keep reminding your followers to click on the link within your bio when you upload photos or videos of your products and services.
4. Offering Social Media Marketing Services
Have you ever considered using your Instagram expertise to help other brands or users increase their following?
You can offer a wide range of Instagram marketing services. Of course, it depends on what the client wants.
You can schedule posts and respond to comments on your client’s Instagram. You may also be asked to edit and create photos and videos, as well as publish content. This could include Stories, Reels, and posts. Why not offer to create engaging copy for every post as a bonus?
If you are really good at what you do, you could also offer to build an Instagram strategy that is curated for their brand.
We recommend SocialPilot if you want to earn money from Instagram by offering this service.
SocialPilot, a social media marketing software that streamlines your social media campaigns, is an all-in-one tool. The tool facilitates collaboration between teams, allows for scheduling and publishing of posts across multiple platforms and offers robust analytics to track performance. Its user-friendly interface and affordability make it a great choice for influencers and businesses looking to optimize their strategy on social media.
5. Utilizing Instagram Stories
Instagram Stories are one of the most engaging features on Instagram. They come with interactive stickers that enhance engagement. Here are a few other stickers you can use for your brand, besides the Shopping sticker:
a. Questions
This sticker will allow your fans to ask you questions about your brand and products. The more your followers know about your brand and your products, the more likely it is that they will connect with your Story.
b. Poll
Ask your customers which product they prefer by using the Poll stickers.
c. Slider
You can use this sticker to gauge the interest of your customers in your product, or their satisfaction with it.
d. Quiz
Quiz stickers are a great way to test your audience’s knowledge about your brand.
e. Countdown
Use this sticker to announce a new product.
f. Link
If you have an Instagram Shop, or a business website, people can visit by tapping the link on your Story.
g. Location
You can use the Location stickers to direct people to your store or fair if you are selling goods.
Stories allows you to share your product or service’s user-generated content in addition to stickers.
These stories show how satisfied customers are with the products and services you offer.
Despite having a short life span (24 hours), Instagram Stories are an excellent way to share limited-time deals. Instagram Story Highlights allows you to pin your Stories on your profile so that your best content is displayed.
6. How to leverage Instagram Reels
How can you make money with Instagram Reels?
Reels can be a great way to promote your brand and increase your sales.
Reels that are similar to those they have interacted with will be shown, increasing the chances of potential customers finding your Reel. This increases your brand’s exposure.
Create entertaining and informative content to increase your chances of becoming viral.
Invite them to be a collaborator when you post your Reel if you are partnering with a company. You can reach the entire brand following this way. This will result in more engagement.
This Reel, by Marco&Flo, an international travel vlogging duo, is a good example of a successful collaboration with a company.
These tips are only applicable if you already have an Instagram business profile. Let’s see how to do it.
How to Create an Instagram business profile
Follow these simple steps to implement the tips above on how to earn money on Instagram.
- Settings is accessible by clicking the hamburger menu in the upper right corner.
- Click Account Type and Tools.
- Click Switch account to professional.
- Choose your niche and select whether you are a business owner, an individual creator or both. Tap Done.
- Select between a business or creator account.
- Add the contact information for your business – including address, phone number, and email. Instagram allows your customers to initiate audio calls with you.
Instagram Professional Dashboard gives you insight into the reach and performance of your content. (More on this later).
How to make money on Instagram: 5 helpful tips
You overwhelmed by all this information? We’ll make it simple for you by giving you five tips to make money on Instagram.
1. Optimize Your Profile
As mentioned previously, driving traffic to Instagram is crucial. Your bio is the first thing that new visitors will see when landing on your profile, so creating a great first impression is important. Here are some tips to improve the search visibility of your profile and optimize your bio:
- Create a profile name that is easily searchable or a business name.
- Select a username relevant to the name of your profile and its content.
- Your profile photo should reflect your brand, and ideally feature the logo.
- Your target audience should be addressed directly in your 150-character bio.
- Use relevant keywords and search terms in your bio and profile title.
- Add a link to your bio in order to direct users to your online store or website.
- Click on the toggle to reveal or hide the
Contact info displayed
under
Edit profile
.
- Make sure your profile is visible (in the event that you do not have a business or creator account).
2. Create high-quality content
Why is it important to have high-quality Instagram content?
You can transform your profile into a portfolio of your skills by showcasing the best work you have done. It can lead to several opportunities for collaboration with brands on social media campaigns and getting paid for your content.
You can create high-quality Instagram content by following these tips:
- Pick a niche, and stay with it. Your following will be more loyal if you are more focused on one niche. Each post in Mikuri Murakami’s profile, a seller of denim bags and hats, showcases her products in a different way.
- Take creative pictures in good lighting.
- Create captions that are relevant to your post.
- Use keywords in your alt text to improve the ranking of your posts.
- Maintain a consistent aesthetic across your entire feed, no matter what your niche is. This candle brand uses a consistent color palette to share creative product images and Reels.
3. Increase Your Following
Consistency is more important than producing high-quality Instagram content.
It is important to post content regularly that your audience will enjoy and relate to.
You don’t have to post the same type of content every time. Your followers may eventually become bored if you post photos of bags every time.
Mixing different types of content will keep your audience engaged. You can also incorporate multiple Instagram formats. A bakery brand, for example, might post a video on Instagram showing how to make a chocolate cake. Next day, they might post multiple photos showing their customers enjoying chocolate cake.
Instagram’s algorithm will put your posts in front a new audience once it notices that you create content with which your audience is engaged. This means you have a better chance of getting more followers.
4. Use Instagram features
These features will help you to earn money with your Instagram account.
- Your best content will be displayed at the top of your grid.
- You can improve accessibility by using the auto-captioning feature.
- Instagram Live videos allow you to interact with your audience while showcasing a new product, or behind-the scenes work.
- Remix Reels to engage with other users and followers.
- Use location and hashtags in your Stories and Reels.
- You can schedule your posts (for business or creator accounts) in advance.
- Notes are a great way to share product updates with your followers. They appear in their inboxes.
- Use Instagram Reel and Story ads to reach a larger audience and showcase your profile and products.
5. Instagram Analytics: What you can learn
How can you make money with Instagram if don’t you know what works and what doesn’t? Instagram Insights can help.
This tool allows you to get a quick overview of your results within the app. Access the tool by going to Professional Dashboard > Account insights > View all. You can see the total number of followers, engagements and accounts reached.
Click View insights below each post to view the same analytics data.
Source
This information will help you to understand the performance of your content. You can then increase engagement and make money by producing more of the most successful content.
The tool is only available on mobile devices, and it provides limited analytics data. You need an analytics tool that offers more flexibility and detail than Instagram Insights.
Instagram Analytics gives you a detailed report of the metrics that are most important to the performance of your content and the behavior of your audience.
You can, for example, see when your followers are most active. Publish your posts during that time to maximize engagement. The Stories report will show you how many people tapped backwards and forwards on your Stories and how many exited. You can improve your Instagram strategy with such detailed analytics.
Bonus tip: Increase your organic Instagram followers by drawing attention towards your account. Keep up with the latest trending posts, Reels and other content. See if you can adapt them to your niche. To expand your reach, collaborate with brands and influencers. Engage your followers by responding to their comments and engaging with their content. It shows that you are interested and will attract new followers.
The conclusion of the article is:
Instagram allows you to make your passion into a career and earn money. You can create quality content whether you are into glass painting, or trying the latest fashion trends.
Your content will gain more attention and keep your followers interested by utilizing Instagram’s features. You will then be able to partner with relevant brands.
All of this will take time. But keep your eye on the prize. Your efforts and time will be rewarded – literally!
The post Instagram Money Making Guide 2023 appeared first on SocialPilot.
