Many Instagrammers monetize their Instagram account by posting and sharing their photos daily. Does this type of activity inspire and tempt you? Do you also want to make money on Instagram? Let me explain you everything how it works.
Like bloggers, the youtubers, and any other person who built an audience by producing engaging content, the instagramers fared well in terms of scope and influence; two elements that several brands are struggling to master.
Today, thanks to their reach and influence, Instagram creators have the opportunity to explore multiple sources of income; whether it is to transform this activity into a career or simply to earn what to grant yourself an additional income.
How many followers do you need to have to make money on Instagram ?
- You don’t have to have a big audience to start generating income on Instagram.
Other important factors can be taken into account:
- Your niche and how easily your content can be linked to other niches or product categories. (depending on the most used hashtags, some of the most popular niches on Instagram are: fashion, food, beauty and fitness).
- The level of engagement of your followers (100,000 fake followers are not worth much).
- The income channels considered.
Naturally, the higher the level of engagement of your audience, the more brands will be interested in your services. Indeed, if famous instagramers pocket thousands of euros per post, it is also quite possible to earn money with a very engaged audience with only 1000 followers. Nowadays, brands are more and more often calling on what are called nano (with between 1,000 and 10,000 subscribers) and micro-influencers (with between 10,000 and 100,000 followers).
How to monetize your Instagram account
Depending on the type of content you create, your audience, and your level of involvement, you can make money on Instagram in different ways:
- By posting sponsored posts for brands that want to reach your audience.
- You can work as an affiliate and thus earn commissions by selling the products of brands.
- By selling your own physical or digital product, or by offering a paid service.
- By selling your photos.
It is important to note that all of these income channels can be explored simultaneously, not excluding each other.
Let’s start with the most common approach when it comes to monetizing your Instagram account: collaborating with brands as an influencer.
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Collaboration with brands through sponsored publications
The term “influencer” is used frequently these days. An influencer is someone who has successfully built their online influence by sharing high-value content. Influencers are viewed by members of their audiences as trusted experts, trendsetters, and respected opinion leaders in certain areas.
However, the reach and size of your Instagram account aren’t the only factors that brands may be interested in; just as important is the trust that your audience has in you.
As an influencer, it can be difficult to find a balance between integrity and profit. If the profit generated on Instagram is not your only source of income, you will be able to select which brands to collaborate with, just as brands carefully select Instagramers with which to partner.
How to bill your services as an influencer on Instagram
Typically, working with an influencer involves creating content – an Instagram post or video – that can be reused by the brand on their site and other marketing channels.
Most of these services are negotiable and may involve the creation of one or more publications or even a campaign; at a fixed price or in exchange for a free product, an experience (free travel, etc.), a service, etc.
When negotiating with a brand, keep in mind that you are not just offering content; but also access to your audience, rights of use, and potentially great reach on one of the most popular social platforms.
Average influencer compensation varies depending on the number of subscribers and audience engagement, but on average, it’s estimated that a content creator on Instagram charges between $ 200 and $ 400 for a single post. And the good news is that according to a recent study conducted by the Reech platform, despite the crisis, the average remuneration of partnerships continues to increase, with an increase of 15% compared to 2019.
Finally, as an influencer, it is important to know your community.
What is the makeup of your audience, and what is your engagement rate. In other words, what is total engagement divided by your number of subscribers? You can find supporting numbers in your Instagram Analytics report, if you’ve opted for a business account. This will help you be prepared when the time comes to negotiate.
How to find brands to collaborate with
If your influence is substantial enough, brands will certainly take the first step and contact you or your agent directly. In order to maintain a bond of trust with your audience, favor as much as possible collaborations with brands that you really love, in which you trust and which have a strong link with your universe and your values.
If brands don’t come naturally to you, it is quite possible for you to contact them directly to try to forge a partnership, or create profiles on influencer marketing platforms in order to be more accessible:
Ifluenz: this platform specializing in influencer marketing on Instagram facilitates meetings between brands and influencers with an Instagram account with at least 5,000 followers. The specified posting rules allow sponsored posts to be subtly incorporated into the influencer content.
BandyouLike: this platform from the Affinity group facilitates the formation of collaborations between influencers and brands seeking to amplify their reach. You can create your account on the site and join more than 4000 influencers already registered.
Natividi: thanks to Natividi, you will be able to form quality partnerships with brands looking for long-term collaborations. There are no contracts to sign and you work at your own pace. You can register on the platform if your audience has at least 500 followers.
Reech: The platform has over 9,000 influencers in virtually every niche and across all social media. Once your influencer account is created, Reech team will connect you with the brands that best suit your profile.
Octoly: ideal for micro-influencers, Octoly is a platform that connects brands with influencers on a reward basis. Thus, brands offer one of their products to influencers in exchange for a story or a publication.
Hivency: Hivency works on the same model as Octoly. No paid collaborations but gifts of different values depending on the popularity of the influencer.
Influence4You: with Influence4You, influencers can apply to brand campaigns (paid or with rewards). The brands then choose whether or not to validate the collaboration.
When it comes to sponsored content, the rules vary; however, it is preferable to always remain cautious while respecting the trust that your audience has in you; Also consider adding a # sponsored hashtag to identify advertising posts. Being transparent about your collaborations with brands will allow you to recommend products to your audience without damaging your reputation.
According to the study by Reech mentioned earlier, among creators who received partnership requests in 2020, 3 in 4 refused at least one partnership, saying that it is their personal values and preferences that play the most important role. More important in their decision.
You can find examples of sponsored posts by searching for the #sponsored Instagram hashtag, or by exploring big accounts in the most popular niches (mentioned previously).
Become an Affiliate
Unlike the influencer whose goal is only to increase brand awareness, the affiliate is more involved in selling the promoted products in exchange for a commission.
The affiliate typically uses a trackable link or promotional code to track sales made through their content. The best way to promote affiliate links is to pass the “swipe” option on stories. But this option is unfortunately only available from 10,000 followers. However, you can insert any link you want in your bio.
Unlike clickable links, promotional codes can be incorporated into posts and therefore be a smarter choice as part of an affiliate strategy on Instagram if you have not yet passed the 10000 subscribers.
Consider making contact with some of the many e-commerce sites offering affiliate programs that you could participate in; or sign up for the most popular affiliate platforms, like:
Clickbank: an affiliate platform open to the public, on which people list products offered in affiliation.
RewardStyle: A referral network of influencers focused on fashion and lifestyle; the commission varies according to the brands.
Affiliate marketing is more than just a game of numbers; it’s an art. You can maximize your chances of success by establishing a well-thought-out strategy and expanding your presence through a website and other marketing channels.
Open your own online store
At this point, you might think the only way to make money on Instagram is to collaborate with brands.
Think again ; content creators and influencers are in a good position to create a profitable, audience-centric business by selling their own physical/ digital products and services as extensions of their personal branding.
Influential creators these days engage in entrepreneurship very naturally given their ability to easily create value through their content.
By selling your own products, you no longer have to worry about incorporating messages from other brands into your publishing strategy. Better yet, you could create your own brand when listing your own products for sale.
Your fans will be able to show you their love and support by purchasing your creations with pride.
Here are some very common approaches:
- You can consider using a print-on-demand service to print and ship your own t-shirts, throw pillows, mugs, posters, and more.
- Offer services like (photography, consulting, etc.) and insert a link in your biography page to redirect interested people to a contact page or your professional website.
- You can sell digital products such as training, ebooks or design templates.
- You could use your Instagram account to start selling your own physical products.
- If you plan to sell multiple items on your own Shopify online store, you can use applications available in our App Store directly to sell them from an Instagram feed integrated into your website.
Sell your photos online or printed on objects
While it is possible to gain notoriety on other networks by sharing multiple types of content items, Instagram is a platform focused primarily on sharing photos. People can view Published photos as digital goods that can be licensed, printed on products, and sold in various ways.
If it was your passion for photography that initially motivated you to establish a presence on Instagram, know that you can list your photos on marketplaces like 500px or Twenty20 where brands and publishers can get them obtained by purchasing a specific license.
You will also be able to “print” your photos on different types of products using certain services like Printful and Teelaunch. Services of this kind will allow you to print your photos on posters, shell phones, pillows, and more. In addition, they also take care of order management and customer service, allowing you to completely focus on sales.
If the demand is there, all you have to do is take the initiative and offer your photographs for sale.
Earn money on Instagram
What might at first start as a hobby; taking funny photos with your dog, sharing your recipes, entertaining people; All this could very quickly turn into a great source of income supported by an engaged audience on Instagram.
As an influential content creator, you have a world of possibilities when it comes to monetizing your presence on Instagram and other social platforms; all you have to do is dare!