There are various amazing Instagram monetization options available to today’s content creators and budding influencers.
Not only is Instagram one of the most popular social media channels in the world, with 63% of users logging into the app on a daily basis, but the platform is also one of the most versatile out there for content creators.
In fact, in 2021, Instagram invested more than $1 billion into the creator community.
If you’re looking to make money from your Instagram presence, you don’t necessarily need millions of followers or a background in marketing.
All you need is a strategy, a clear niche, and plenty of dedication.
Here are some of the best ways to start monetizing your Instagram profile.
What’s Instagram Monetization?
Instagram monetization is the art of making money through Instagram via ads, product sales, sponsorships, and a range of other strategies. Influencers with a good number of Instagram followers can leverage their community with strategic content, intended to generate sales, commissions, and more.
Notably, Instagram monetization is a little different from simply selling on Instagram.
While one of the best ways to make money through Instagram is to promote and sell your own products, monetization typically focuses on earning cash from the content you produce.
You don’t need your own business or online store to get started, you just need an engaged community.
Instagram is one of the most popular tools for monetizing content creation. In fact, the average Instagram influencer earns around $2,970 per month, just by creating content. You don’t necessarily need to be an ultra-rich or well-known celebrity either.
Around 47% of high-earning Instagram influencers have between 5,000 and 20,000 followers.
Instagram even has a fantastic “Creator Studio”, to help users get started with monetization.
Plus, the platform regularly introduces new ways for users to access monetization options, such as Instagram Subscriptions, affiliate marketing campaigns, and more.
Prerequisites For Earning On Instagram
Though you don’t need a marketing qualification or millions of followers for Instagram monetization, there are a few pre-requisites to consider.
Certain types of monetization also come with their own requirements.
For instance, you’ll need a specific type of account and a certain number of followers to leverage the Instagram affiliate marketing strategy.
In most cases, Instagram monetization will require the following things:
· A good follower count: The more followers you have on Instagram, the more opportunities you’ll have for monetization. No-one wants to pay an influencer to promote a product to only 20 followers. At the very least, you’ll need around 1,000 followers to get started, but it’s worth working on a growth strategy to expand your reach as much as possible.
· Excellent engagement: Quantity isn’t the only important factor when it comes to Instagram monetization. You’ll also need “quality” followers, too. In other words, you need an engaged audience filled with people who regularly interact with your posts, comment on your content, and help to generate growth through sharing.
· The right account: An Instagram Business or Creator account will give you access to more features for monetization, as well as a range of useful insights. Upgrading from a personal account to a Creator or Business account is free, and it’s well-worth the effort if you want to generate a good income from your profile.
Most importantly, you’ll need a level of influence over your following.
This means your customers need to take your product and service suggestions seriously. A strong content marketing plan which showcases your expertise and knowledge via Instagram will help you drive the right results.
8 Ways To Earn Money from Instagram
As mentioned above, there are a number of methods creators can access for Instagram monetization.
The right strategy for you will depend on a number of factors, including what kind of account you have, and how many followers you’re regularly connecting with.
Here are some of the best ways to earn money on Instagram.
1. Join An Affiliate Marketing Program
Affiliate marketing is one of the easiest ways to make money online. It involves partnering with a brand to promote their products using unique links, coupon codes, and offers.
There are a few ways to get started with affiliate marketing on Instagram.
You can connect directly with another company and share their links via your Instagram Stories, Link in Bio, captions, and other tools.
Alternatively, you may be eligible to apply for the Instagram Affiliate marketing landscape, which connects you directly to other brands you can promote.
The key to affiliate marketing is showcasing the right products with valuable, and relevant information. For instance, Independent Artist Steffi Lynn leverages the “Swipe Up” feature on Instagram to promote products from partnerships with brands like Adobe.
Crucially, you’ll also need to follow the guidelines set by Instagram for affiliate marketing.
This means complying with Instagram’s monetization policies, and being honest with your followers about which of your posts are promoted.
2. Work With Brands
Another great way to leverage Instagram monetization is to work directly with brands selling products you’re interested in. If you have enough engaged followers, brands might be willing to pay you to promote their products directly, by showcasing them in your Instagram posts and videos.
You could even become a dedicated ambassador for a brand. For instance, Elizabeth Debicki is an official Dior ambassador, who regularly highlights the latest products on offer from the company in her Instagram posts.
The great thing about working directly with a brand, is you can create a comprehensive Instagram marketing campaign based on their unique needs.
You could post Reels and Stories to show customers how to use a product, or just add products to your Instagram pictures.
However, you will need to be able to convince brands that they should work with you, using pitch emails and messages.
It’s worth making sure you focus on the right brands for your target audience too.
Ensure you understand what kind of customers you’re reaching with your posts, so you know which brands you should consider working with.
3. Advertise Your Products
Perhaps the easiest way to use Instagram to make money, is to promote and sell your own products. If you have an ecommerce company already, Instagram gives you an excellent platform where you can showcase the features and benefits of whatever you have to offer.
There are countless examples of other companies who take advantage of this method.
For instance, the brand Snuggy regularly posts content showcasing their latest items, with relevant hashtags, and promotions. You can run contests and giveaways to generate interest in your products, and even sell items directly through Instagram using the Shop feature.
The key to effectively advertising and selling your own products on Instagram, is making sure you leverage the right methods.
Aside from creating lots of valuable organic content which highlights your brand benefits, make sure you engage your customers with informative Guide posts, videos, and even Instagram Reels.
Experiment with different content and ad types to see which options generate the most sales and revenue for your brand.
4. Create Subscriptions
Instagram recently added a new feature to its platform specifically for creators interested in Instagram Monetization. “Subscriptions” are solutions which allow you to capture recurring revenue from your target audience, in exchange for something of value. Most Instagram influencers use subscriptions to provide their followers with access to exclusive content.
You can provide customers with subscriber badges which help them demonstrate their support of your brand. There are options for creating and publishing exclusive Subscriber Stories and Live streams, too. This is a great way to make more money from an already engaged user base.
Creators like @AlanChickinChow already take advantage of this new service:
However, it’s worth mentioning this feature is still in testing at the moment.
If you can’t get involved with the Instagram subscription solution, however, there are still ways to use the same methodology to advertise and sell subscriptions to exclusive content elsewhere. You can build a website full of gated content, which only your subscribers can access.
Just make sure you know what kind of content your audience will be willing to pay for before you get started.
Your Instagram Insights should give you an overview of your most lucrative content campaigns.
5. Create An Online Course
Over 6 million Americans are currently pursuing some form of online education, and the number keeps growing. In the last couple of years, e-learning opportunities have taken the world by storm.
If you have something valuable to teach your audience, creating an online course could be an excellent way to make some extra money.
To use this strategy, you’ll need more than just an Instagram account.
You may need to create your course on a separate learning management system, so you can control subscriber access, and roll out information according to the right content calendar.
However, you can use your Instagram account to generate interest for your lessons.
For instance, HubSpot academy uses it’s own dedicated learning-based Instagram account to share snippets from some of it’s top courses.
You can even use Instagram Live and Reels to answer common student questions, and engage your target audience.
6. Enable Ads On Instagram Reels
As video becomes more of a core part of the Instagram platform, creators are regularly gaining access to new solutions which help them monetize this kind of content.
Until February 2022, the channel offered access to in-stream video ads as a monetization strategy. This meant you could allow brands to run ads before, during, and after the videos posted on your profile.
When Reels became the main video solution on Instagram, the platform switched video ad monetization for Reels monetization.
With your Creator account, you can enable your Reels to showcase ads from other businesses, and earn revenue as a result.
Because this feature is still under development, not every creator will be automatically eligible. It’s worth making sure you follow the content recommendations guide offered by Instagram to make sure you have the best chances of being chosen for Reels ads.
You’ll also need to make sure you’re consistently creating original content for your channel, without watermarks.
7. Use Badges In Livestreams
This is an ideal Instagram monetization strategy for influencers who already have a strong and engaged community.
During a live stream you can allow customers to purchase “badges” to show their support, and differentiate themselves from other followers. The cost for the badges can vary, but essentially, they’re a way to generate revenue from supporting customers.
The Creator Jon Youshaei hosted a live session to show exactly how this feature works.
According to Instagram’s, badges are a way for companies to stay connected to their audience in a time of digital transformation.
To leverage badges, you’ll need to go into your Professional Dashboard on Instagram’s, and click on the “Badges” tab. Creators also need to set up a direct deposit payment account for their bank or PayPal address.
Badges are still limited to creators in the United States at the moment, and require creators to have at least 10,000 followers, and a Business or Creator account. When you start using this feature for the first time, make sure you promote your badges regularly to customers before your live stream, to help generate excitement.
8. Become A Consultant
While Instagram’s is one of the most valuable tools around for today’s business leaders, it’s also something a lot of companies don’t fully understand.
As old-fashioned marketing strategies become increasingly less effective for modern companies, many organizations are turning to influencers for help making the most out of their online presence.
If you’ve already developed an engaged following on your Instagram’s profile, then you might be able to work with brands to help them boost their own market presence.
As a consultant, you can assist other companies with everything from choosing influencer marketing strategies to figuring out what kind of Instagram’s content they should use.
There’s even the option to act as a consultant for other emerging influencers and market leaders looking to invest in Instagram’s Monetization.
Sharing insights into your practices and Instagram’s strategies on your channel will help you to highlight your expertise, and attract potential partners.
Mastering Instagram Monetization
Today’s content creators have a host of options available for Instagram’s monetization.
If you know how to develop an engaged following on your social media profiles and you’re committed to consistently developing your “brand” presence, you can earn a great income from Instagram.
The key to success is finding the right strategy.
Many influencers will experiment with a range of different monetization methods before they find something that works for them.
With this in mind, don’t be afraid to explore various options from the list above.