3 best ways to make money on Instagram explained

3 best ways to make money on Instagram explained
2021-06-14
Even though just a few years ago Instagram was considered to be a silly social media platform used by people primarily for posting food pictures, today it’s a huge money-making machine and even the biggest companies recognize this. Whether you’re an influencer, a successful business owner looking for new revenue channels, or someone who is thinking of starting an online business, Instagram gives you plenty of opportunities to make money.

Best ways to monetize your Instagram account


Sell your services or products on social media


Millions of brands, influencers, and experts are successfully making tons of money by selling their services and products on Instagram. The social media platform even incorporated special features such as shoppable posts, product stickers for stories, and an Instagram Checkout service to facilitate product sales directly on the platform. And many influencers have launched their own courses, paid consultations, and other services that their followers can purchase.

Join affiliate programs


Brands are willing to pay a lot of money to gain new customers. And if you have managed to build up a following on social media and you know that your audience trusts your opinion and recommendations, you can potentially make a lot of money by joining one or several affiliate programs for products you believe in. If you tell your followers about those products and people end up purchasing them, you will receive income from the affiliate brands. Some affiliate programs pay for clicks instead of purchases, so if the person just visits the website without making a purchase, you will still get paid.

Advertisements in posts and stories


In the past, only influencers with hundreds of thousands of followers were able to make money by advertising for brands and other influencers. But today you can make money by placing ads in your profile even if you have just 1,000 followers. The key is to have a loyal audience that really trusts your opinion. The basic rate for calculating the price of paid sponsorships is 1 cent per follower but this price can be higher or lower depending on the engagement rate of followers, your niche, and other factors. Most influencers endorse sponsors in stories and Instagram posts.

FAQ


Does Instagram pay you for having a lot of followers?


No, Instagram does not pay influencers, bloggers, and other people that use its platform. Influencers and brands have to come up with other ways to monetize their massive followings.

Can you make money on Instagram with 1,000 followers?


Yes, today, brands are very eager to advertise with influencers that have very small followings. The key thing to remember is that when someone has just a few hundred or thousand people following them, those followers are usually very close to the person and very loyal. As a result, these people are much more likely to purchase a product recommended by the influencer.

How much money do accounts 10k Instagram followers make?


On average, you can expect to be paid around $90 for a sponsored Instagram post or a little less for a sponsored story.