Instagram is one of the fastest-growing social media platforms that have quickly gained over one billion active users. This sustained growth of Instagram is enough to convince that it’s great to make money on, it also opens doors to enormous opportunities for the creators and users to make more money.
How Much Do Instagram Influencers Make?
The top five influencers as of November 2021 have over 200 million followers each including Cristiano Ronaldo, Kylie Jenner, Lionel Messi, Dwayne Johnson, Ariana Grande. While the money that these influencers can make is huge.
If you are a content creator on Instagram or you have 100,000 followers, you can earn approx $200 per post, while if someone has 10,000 followers can make money about $88 per post.
If we talk about influencers with a million followers, you can earn around $670 per post. And the search marketing website says the principle is more followers + more posts = more money.
How to Make Money By Having Thousands of Followers?
The key to making money on social media platforms like Instagram is engagement. Even with just having 1,000 or so followers who like, share, and comment on your posts, you can make money.
No matter how small but with an active and enthusiastic fanbase, money can be made and brands are ready to invest.
Here, 5 Ways to Make More Money on Instagram (2023)-
1. Affiliate Marketing
Affiliate marketing is one of the proven ways to earn handsome money on Instagram and perhaps a difficult one. Being an Affiliate you sign up with a company and try selling their products by having affiliate links.
The prime thing is you get a certain percentage of each sale you make. You get a trackable and clickable link for the products you sell. If a customer clicks your link and buys the goods then the selling company knows that the customer came via your link and pays you the commission for the sale.
The Reason being affiliate marketing is hard is because you need a target audience and also Instagram doesn’t allow clickable links anywhere except your bio.
By using promo codes it is somehow easier to make affiliate income, these are trackable and can also be added to your stories and posts. In the end, you’ll still need the affiliate website to be visited by your followers on their own.
2. Sponsored Posts
It is of course one of the well-known ways of making money on Instagram. It is also not viable for people with a few hundred followers, It requires a few thousand followers and quite good engagement.
Being an influencer your post is sponsored by the brand that pays you for the post. As you post pictures of your interests that showcase your personality, you end up building a decent personal brand. This way relevant brands contact you naturally whose target audience matches your followers.
Followers usually like when their influencers are being true to their authentic selves. So you should advertise the things that have good customer reviews and are not just for the sake of advertisement, otherwise you’ll end up losing your followers.
Here is the Simple Version of the Criteria you can Satisfy :
· You can create a sponsored Instagram post.
· You can include a branded hashtag, mention, or link to promote a brand
3. Monetize Your Videos
Creators that have built an audience by sharing some entertainment or lifestyle content have an increasing number of ways to earn on Instagram. Monetizing your videos with ads is one of the other ways to get paid through Instagram. To enable this option, go to your creator account settings and turn on the monetization option in-stream Video Editing Tool.
Monetizing your videos won’t work if you don’t meet the requirements. For example, videos should be at least 2 minutes long, it is recommended to aim for 2 to 4 minutes in length. The more views you have on your video the more amount you can earn.
You’ll receive the revenue generated per view. You’ll receive approx. 55% of the revenue generated per view and it straightly depends on the brand’s T&Cs. You can get your payouts issued monthly.
3. Boost Your Sales
Creators with a good audience have the advantage of selling their products and services to their followers. You can go with the Link in the bio route or set up a business account to do so. For example, if you have a travel or food blog then a professional-looking Instagram account could prove to be a boon for you.
You can link your blog to your Instagram profile or highlight some specific things in your bio section to attract more people to it. If you are planning to start a business site, you can start and connect it with your Instagram account to attract more audience.
You can share the customer reviews on your stories that will help to encourage more followers. You can also share posts like give more offers or discounts to your followers.
The Bottom Line
Whatever your level, being a creator, these tips will help you to earn more money and keep your customers engaged. Finding your niche is the first step in the creator economy so take it wisely and always remember authenticity is the key. Your audience should feel the content you are trying to deliver. Build trust and have transparency, whatever you will do.