How to Make Money on Instagram

January 9, 2024

Instagram is like a huge online marketplace where lots of people share pictures and videos. It’s a great place for regular people and businesses like fashion design, food, art, and so on, to make money doing what they love.

In this guide, we’ll show you simple and helpful ways to make money on Instagram and it doesn’t matter if you just want to become popular, share creative stuff, or promote your business, we’ve got easy steps to help you make your Instagram account a money-making success.

Can you make money on Instagram?

You can earn money on Instagram! According to CBInsights, Instagram is one of the best places for influencers and creators to make money by sharing their content and attracting more followers (you can find out more about making money as an influencer).

The platform itself is keen on assisting creators in making money. In 2021, Mark Zuckerberg, who is the CEO of Meta (the big company that owns Facebook and Instagram), mentioned, “To help more creators make a living on our platforms, we’re going to keep paid online events, fan subscriptions, badges, and our upcoming independent news products free for creators until 2023.”

The company also wants to make it easier for teachers to understand how much money they can get from the platform. They’ve introduced a feature called Instagram Payouts, which helps people figure out how much they’ll get after taxes, refunds, and fees for things bought in the app.

How many followers do you need to make money on Instagram?

Making money on Instagram often depends on how many followers you have. For example, to start earning money with Facebook’s Brand Collabs Manager, you typically need at least 1,000 followers. However, if you’re thinking about opening an Instagram Shop, the number of followers is not as important for making money.

Another important factor for making money on Instagram is your engagement, which means how much people like and comment on your posts. To figure out your engagement rate, you can divide the number of likes and comments by your number of followers.

Aim for a 3% engagement rate to catch the attention of brands for sponsorship. Brands prefer active audiences, so it’s better to have a smaller but engaged community than a big following that’s not very active. Interacting with your audience and sharing great content will help you grow your followers over time.

Do you have to use different money-making strategies on Instagram based on your follower count? Not really.

The main ways to make money, like sponsored posts and shoutouts, are the same no matter how many followers you have. However, having more followers might make brands more interested in working with you and willing to pay more.

But it’s also true that if you have a smaller but engaged and specific audience interested in a particular brand or product, brands might be just as interested.

Yes, influencers with millions of followers can earn a lot of money for each sponsored Instagram post. Rumour has it that Christian Ronaldo makes around US$1.6 million per post. But keep in mind, that these high-earning influencers are usually big celebrities both online and offline. The average earnings from posts are usually a lot lower.

How to Make Money on Instagram

To make money on Instagram, you have to follow a process. Here’s a guide we have put together to show you how to make money on Instagram:

Partner with Brands for Sponsored Posts

One great way to make money on Instagram is by becoming an influencer. Influencers can be of different types, like nano (500 to 10,000 followers) or micro (10,000 to 50,000 followers). Brands pay you for creating and sharing engaging content about them.

This could be through sponsored posts, shoutouts, or using Reels. Your pay depends on your follower count and engagement rate, and it can range from $10 to $500 per post.

Tips:

Create a media kit showcasing your work and audience details.
Find brands through Influencer Marketplaces or by directly reaching out.

Get Paid by Instagram as a Creator

Instagram has plans to invest over $1 billion in programs for creators by the end of 2022. One of these programs is the Creator Fund, which offers ways to monetize through IGTV Ads, Instagram Live Badges, and Bonuses.

Instagram Live Badges:

Fans can buy digital “tips” in the shape of hearts during your Livestream.
Badges are purchased in packages ranging from $0.99 to $4.99.

Bonuses:

Rewards you financially for hitting certain milestones.
Milestones include the number of Lives, signing up for IGTV Ads, or creating a required amount of Instagram Reels.
Bonus Programs are invite-only, so keep an eye out for eligibility updates.

Tips:

Switch to an Instagram business account for added trust.
Build a strong connection with your followers for maximum earnings.

Open an Instagram Shop

An Instagram Shop is like having an online store on your phone. You post pictures of your stuff, tag them, and people can buy without leaving Instagram. Follow these steps:

Switch to a business account.
Connect your Facebook Page.
Upload your product catalog.
Complete an account review.
Turn on Shopping.

Tip: Palm & Wild sells art prints on their Instagram Shop to reach more users and link to their website in their bio.

Become an Affiliate Marketer

As an affiliate, you earn a commission on sales. The commission is usually 5% to 30%. You might get a unique code or link to track your sales. Apply on a company’s website or be approached by the brand. Followers don’t matter; brands want someone who connects with their audience.

Tip: Share product links in your bio or Story (if over 10,000 followers) or start a blog for more options.

Drive Traffic to Your Website

Use Instagram to show off your brand. 80% of people find and buy new things on Instagram. Use it to send people to your website, boost sales, grow your email list, and build a community of customers.

Tip: Showcasing products on your website can lead to more sales.

Offer Instagram Marketing Services

If you’re good at Instagram marketing, writing captions, or creating content, offer your skills as a freelancer. Make money by helping companies with their Instagram strategy.

Tip: Advertise your services on your Instagram bio and use platforms like Fiverr and Upwork.

Sell Photos, Illustrations, or Digital Files

If you’re into design or photography, Instagram is a great place to sell your work. Offer your photos to businesses or sell your content like prints or illustrations.

Tip: Treat Instagram as a showcase for your work, directing potential clients to your portfolio.

Offer Exclusive Content to Your Audience

People love learning new things, and if you’ve got knowledge to share, consider creating an online course. Platforms like Coursera and Masterclass are popular, and Instagram is an excellent place to market and earn money from course registrations.

Courses can range from $100 to thousands of dollars. You can also create downloadable guides, eBooks, or templates to make money.

Tip: Rebellnutrition makes money by promoting her online course on Instagram.

Dropship Products

Starting a business often faces challenges with inventory, but dropshipping solves that. You can run a store without holding any products. Choose from millions of products from suppliers and set your pricing. Create a dedicated Instagram page to showcase products, advertise your site, and boost sales.

Tip: Sweet Mana runs a drop shipping business for skincare on Instagram.

Create an Instagram Feature Account

Feature accounts on Instagram showcase photos from different creators in a niche. Once your account grows, you can offer paid spots to users who want to be featured. Paid slots can range from $15 to $30 per post. Some accounts manage follower loops and offer VIP paid memberships for $20 – $30 per month.

Tip: Invest time in engaging with accounts, messaging potential customers, and growing your followers for this method.

Making money on Instagram is diverse, and these methods offer unique opportunities.

Tips for Succeeding on Instagram

Here are some tips for Instagram Success

Choose Your Focus: Pick a specific niche to become an expert in. Being a general influencer is too broad, so narrow it down to a specific topic, like vegan or gluten-free cuisine. This makes you stand out and attracts a targeted audience.
Engage Regularly: Don’t just post and forget. Like, comment, message, and share other people’s content. Show your personality and build a community. Good storytelling is key to keeping your audience engaged.
Use Tags Wisely: Include hashtags, geotags, and brand tags in your posts. This helps your content get discovered by new followers and increases your chances of landing brand deals.
Go Multi-Channel: Be active on platforms like YouTube and TikTok. Start a blog and newsletter, and cross-promote your content. This broadens your audience and informs them about different ways to connect with you.
Explore Monetization: Don’t limit yourself to Instagram. Explore other money-making platforms like Patreon. For example, if you’re a musician, promote your music on Instagram and offer exclusive content on Patreon for a fee.
Be Proactive: Take initiative in reaching out to brands for partnerships. Apply for ambassador programs and collaborate with others, even if it’s initially for free. Remember, the only failure is not trying.

By following these tips, you’ll not only grow your Instagram presence but also increase your chances of monetizing your content successfully.

FAQ

Can Instagram users get paid?

Yes, some Instagram users can get paid. However, not everyone earns money on Instagram. The amount you make depends on the method you choose and how successful you are.

Does Instagram pay for likes?

No, Instagram doesn’t pay users for likes. Likes are a way for users to show appreciation or support, but they don’t translate into monetary compensation. While more likes can boost visibility, they don’t directly result in payment.

How many views do you get paid for on Instagram?

You don’t get paid for views on Instagram. Views are just a measure of how many people watched your video. While high views can enhance visibility, Instagram doesn’t financially compensate users based on the number of views their videos receive.

In summary, earning money on Instagram involves other methods, and factors like engagement and success play a role. Simply receiving likes or views doesn’t translate to direct payments from Instagram.

How to Make Money on Instagram

Can you make money on Instagram?