Social media is very popular these days. With over 60% of people worldwide owning phones, and nearly all those phones having some sort of social media on them, there is no denying their popularity. There are countless social media platforms out there, with one of the most popular being Instagram.
Where there is popularity, there is potential profit to be made, which begs the question of “How Can I Earn Money on Instagram?”. There are already many others seeing this and taking advantage of it, so who’s to say you can’t as well? If your going to start, you will need to know what to do to get started and how to start earning. Luckily for you, I will be answering all of that and more.
How Many Followers Are Needed?
At this point you are probably wondering how many followers you will need to make it happen, and the answer to that question is less than you think. It all depends on the following:
- What your niche is and how easily you can tie it to a product category (fashion, beauty, fitness, etc), and is based on your top hashtag.
- How engaged your followers are, even if you have 10,000 followers, if they don’t engage as much, you will see less money than you would with 1,000 engaging followers.
- What revenue channels you choose to explore.
Of course, the more engaged the followers you have are, the better. You may look at top Instagrammers that make thousands per post, but even those with a small but engaged following of 1,000 have a lot of profit potential.
Ways of Earning on Instagram
Depending on what you brand yourself as, who your audience is and your level of commitment, you can earn money on Instagram in the following ways:
- Make sponsored posts for brands that want to get to your audience.
- Becoming an affiliate marketer and make commissions selling other brands’ products.
- Creating or selling either a physical or digital product, or offering a paid service.
Something to keep in mind is that using one of these does not mean you cannot use another. Let’s begin with one of the most common approach to Instagram, that being monetization.
Work with Companies for Sponsored Posts
In order to get companies to work with you, you will need some people to influence. To do this, you will need to build an online reputation by doing and sharing some awesome things with your audience. To your audience, you are a trusted expert whose opinions about certain things are respected.
Most brands cannot compete with the audience you have and they will partner with influencers like you to help spread the word about there new product. But the brands aren’t looking for the people with the most followers, they are looking for someone with an audience that trusts them and their opinion the most.
You may find it hard to balance your revenue as an influencer and your honesty as a creator, but if you don’t rely on your Instagram income as your main source of income, you always have the freedom to select who and who not to work with, just as brands can choose who and who not to work with.
Decide What to Charge Your Sponsor
Usually, these influencer deals involve the creation of content; a post, story or video, and will sometimes include permission for the brand to use your content as content on their own site or in an ad. Most deals are negotiable and can involve a single post to an entire website in exchange for a fee, product, a gift, or a combination of some of these.
Just remember, when you are negotiating, keep in mind that you are not only offering your content, but also your audience, a potentially very large reach on one of the most popular social media networks. Just to give you an idea of what you can charge, a poll was conducted and almost half of the people stated that they charged $200 – $400 per post.
Top Sponsorship Companies
One of the best ways get sponsors is to let them find you. If you are big enough, chances are they will find you, and you won’t need to look. But you can also look for brands to work with that are similar to you in personality and values, because it will make your audience not feel like you are a sell out.
You could try to reach out to them and try to work out a deal, but you can also list yourself on an influencer marketplace to increase your chances of being found.
- Shoutcart – Sell a shout out to your audience for your brand, regardless of how many followers you have.
- Fohr Card – Connect your Instagram, website, YouTube channel, Twitter, and other social platforms to create an influencer card that shows your different profiles and total reach for brands to find you for a partnership. You also get a list of a bunch of brands and what they are looking for, so you can reach out to them if you meet their requirements.
- Crowd Tap – You complete a small content task to earn rewards. This program is great if you have a small audience. This is only available in the United States.
- indaHash – Brands simply put out campaigns that you can choose to participate in, and when you post a picture with specific hashtags on Instagram and get paid. You need a bare minimum of 700 engaged followers to qualify.
To maintain your audiences trust, be sure to leave a #sponsored hashtag to your post to let your viewers know that it is a sponsored post. If you want some examples on how to implement ads into your posts, look at other peoples by searching the #sponsored hashtag to see what other people did.
Next, I would add some affiliate links.
Become an Affiliate Marketer
Being an affiliate marketer is more focused on making sales for the brand and earning a commission, rather than just generating awareness. This is generally done with a unique link that allows the brand to recognize that you were the one who led the consumer to purchasing the item.
To add a link, go to your Instagram profile page and click “Edit Profile” to change the link in your bio. Insert your shortened affiliate link under your username and hit done. Then upload the picture, description and your relevant hashtags that you would like to use to point people in the direction of your affiliate link in your following post.
If you want to sell some of your own products / services, you should open your very own online store.
Open an Online Store
I won’t be going into great detail here, but I will be providing you links to my other posts that are based on the multiple online store programs you can use, and how to set them up. I would recommend either eBay or Etsy for your online store, and you can read my posts on each:
Cool! You have an instagram account with some followers and you are making some money. You need to keep posting, try to do it daily, gain some new followers, and some more trust from your viewers, which will eventually lead to more money in your pocket. Keep going, don’t quit now, try new ideas and test new ways to earn even more cash!
If you have any questions about anything explained in this post, leave them below and I will be sure to answer them.