Content creators have a habit of choosing platforms where the money is at. And Instagram is among those platforms.
Thankfully, there is more than one way to make money on Instagram.
Among Facebook and YouTube, Instagram also offers tons of opportunities to make money. I’ll show you four ways you can turn your passion into a money stream.
Let’s get straight into it!
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How To Make Money On Instagram
Partner With A Brand
Help other people sell their stuff. And they will pay you for that. Instagram is helping brands and creators connect with each other. Using Brand Collabs Manager, working with an influencer agency, or reaching out to relevant brands are a few ways to partner with a brand.
Let’s talk about Brand Collabs Manager. This option is available to US content creators with:
- Active Business or Creator accounts
- 10,000+ followers
- 100+ hours of watch time on original videos or 1,000 combined engagement (likes and comments) in the last 60 days
- No history of content violations
When you collaborate with a brand, make sure they align with your interests, values, and shopping history. After that, don’t just try to sell stuff. What I mean is that you should focus on creating value.
Read More: Beginner’s Guide to Making Money from Google Adsense
Brand collaborations do good for your image when they are genuine. Otherwise, there are many influencers who would promote just any product for the money.
Sephora, Lululemon, and Savage X Fenty are among a few brands that actively hire content creators for partnerships. Find brands in your niche.
Do some research. Take your time. You want to find a good brand. And if they choose to hire you for long-term work, it would be awesome.
Leverage Affiliate Links
This is in continuation to our previous method. You’ll earn commission from the sales you inspire.
It works on links. You tell people about a product and then ask them to buy it using the link. If they choose to do that, you’ll earn a commission.
Sometimes, it’s a traceable link. And sometimes, it’s a promo code. These will help brands track influencer referrals. These links or codes can be shared in posts, Stories, or Instagram bios.
There are two major models for commission: pay-per-click or cost-per-acquisition model. How much you earn depends on the model you use, but it will be in a range from 10-20%.
CJ Affiliate, Pepperjam, ShareASale, or Rakuten are a few affiliate networks you can join. If you can’t find your desired brand on these networks, look for that brand’s own program. They might run their own affiliate programs.
Look out for Instagram’s own affiliate tool designed for US content creators. It will have many big brands in it. This tool will be meant to find, share, and earn commissions on products available on Instagram Checkout.
Earn Money From Your Content
If you are engaging people and giving them something in terms of entertainment or information, your content is a good contender to make money on Instagram.
Subscriptions or gated content may come on the app soon. Meanwhile, you can leverage these monetization methods.
Last year in May, the platform started sharing short ads on their IGTV videos. It will be a good opportunity for creators that publish long-form video content.
To me, they should include other monetization methods related to ads as well. YouTube is an inspiration. But they can whatever they want; it’s their platform.
Instagram Live Badges
Do you do live streaming often? Well, the good news is that you can earn “tips” from viewers in the form of heart badges. If they purchase a badge, a hear shape icon appears next to their name in the chat. They can purchase these badges between $.99 and $4.99, with a cap of 250 USD per viewer per session.
Not only that but you can also get rewarded for hitting specific Instagram Live milestones. Reels creators may soon start to get these benefits as well.
Link in bio
You might be familiar with platforms like Buy Me a Coffee, Ko-fi, and Patreon. They let you get donations from your audience. This way, you keep creating free content, and your audience doesn’t have to worry about you disappearing because of lack of money.
Encourage your followers to support your work. Direct them to a relevant link in your bio or Instagram Stories.
Sell Your Own Products Or Services
This is the story of many internet entrepreneurs. First, they start out for reasons not directly related to money. They start putting content online to express themselves, get attention, or share their passion.
But soon, they discover that they have a large pool of followers in front of them. And that they can sell their own products to these followers.
The products are most of the time simple. From ebooks to courses to special guides, people can buy a lot of stuff from content creators.
Heck, they even buy a similar shirt to the one that you are wearing. So selling merchandise is another option.
Now that you know the different ways to make money on Instagram, let’s learn…
A Few Tips For Earning Money On Instagram
Find your niche: This is the starting point. Influencers are experts in their field, so pick a niche you love and know it like have PHD in it.
Authenticity is key: The content should feel right. Otherwise, it’s just another sleazy brand placement.
Learn how to advocate for yourself: Learn how to sell yourself, even if you feel intimidating while negotiating with big brands and agencies.
Promote your work on other platforms: Create a blog or YouTube channel to expand your content marketing to provide the information that prospective buyers want as they make their buying decisions.
What’s your favorite way of making money on Instagram? Let me know in the comments below!