Complete guide: 7 ways to monetize your Instagram
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Whether you’re a business owner or an aspiring entrepreneur, the earning potential on Instagram is incredible. Don’t miss out on amazing money-making opportunities. You’re always on the app anyway!
In this post, we’re going to talk about how to monetize your Instagram so that you can earn extra income for yourself and/or boost revenue for your business. We’ll also talk about how much you can expect to earn using these methods.
7 ways to make money with your Instagram account
Ready to dive into 7 amazing money-making Instagram ideas? Disclaimer: These methods aren’t for people who want to get rich overnight.
These methods are for those who want sustainable income for themselves or their business. Some of these will take more time than others, but if you do them correctly, the payout can be spectacular!
#1 - Become an affiliate marketer
Affiliate marketing is here to stay. Some people still gawk at affiliate marketing because they think it’s scammy and dishonest.
However, affiliate marketing aims to connect the right products with the right kinds of consumers.
If you’re thinking about making money on Instagram as an affiliate marketer, there are a few things you must absolutely do to preserve your integrity with your followers:
- You must disclose when you use affiliate links
- You must promote products you believe in
- You must choose affiliations that will fit the needs of your followers
How much money? Instagram affiliate marketers can make 5-figures per month and 6-figures per year! Of course, there is a lot of work involved in choosing the right products, creating content, and convincing people to purchase.
#2 - Establish yourself as an influencer
Did you know that you can be an influencer with only 500 followers on Instagram? It’s called being a nano influencer - but you can get paid all the same.
This is perfect for budding entrepreneurs and businesses. All you have to do is promote great products on behalf of a brand.
Influencers often get paid per post (or other content created, such as an Instagram Reel). You share it with your followers so that the brand can gain exposure and sales.
How much money? The more influencer experience you have, the more you can charge. If you’re just starting, you can expect to make somewhere between $10-100 per post. As your influence expands to tens of thousands of followers, you can start earning more - even $10,000 per post!
#3 - Collaborate with an influencer
Instead of becoming an influencer, you can collaborate with influencers to promote your products and services.
Even though some super famous influencers will charge $1,000s to work with you, you don’t have to go to them. You probably shouldn’t.
Ideally, you work with influencers who suit your budget - and - who have enough followers to give you a boost in sales.
Remember: Only a very small percentage (even as little as 1-2%) of people who see your promotions will click through to check out the product. After which, a small percentage of those people will buy.
How much money? If you’re able to fork out big bucks for a mega influencer, you may get thousands of sales. However, think about how 10, 50, or 100 new orders would impact your business this month. You can save money with smaller influencers, while still getting significant sales.
#4 - Generate cash with exclusive paid content
Monetize your Instagram followers by nurturing them with great content. Then, funnel them off the platform to digital products.
For example: Host a free workshop on IGTV, and sign off with a call-to-action that encourages viewers to purchase your paid products. Soon enough, you can build more and more momentum both on and off the platform.
How much money? Courses, workshops, and other digital products can bring in 6-figures if done correctly. When it comes to exclusive paid content, the sky’s the limit on this one!
#5 - Get in on Brand Collab Manager
Brand Collab Manager is a way for people and businesses to connect, collaborate and make money off of partnership deals. It applies to various Meta products, one of which is Instagram.
To make this happen, you have to meet certain criteria. The first step is to get at least 1,000 followers and also meet one of the following within the last 60 days:
- Achieve 15,000 post engagements
- Have 180,000 minutes viewed
- Accumulate 30,000 1-minute views on 3-minute videos
How much money? Being a part of Meta’s Brand Collab Manager is really about quantifying future opportunities, which can be priceless!
#6 - Open an Instagram Shop
Instagram Shop enables you to make money on Instagram by keeping online shopping all within the app itself.
It’s pretty simple to set up. Plus, it eliminates several steps between a customer seeing your product and buying it!
How much money? Streamlining the purchasing process could be the difference between $100s - or $1,000s - in sales. Do note that Instagram takes a percentage of the sales you make on the app.
#7 - Switch to an Instagram Creator account
Consider switching your account for additional growth and engagement tools. You’ll gain a better understanding of your audience so that you can improve the quality and value of your content.
You’ll also have the opportunity to get paid for IGTV ads and earn cash tips via Live Badges. Other monetary perks may be granted when you meet certain view and engagement thresholds, like creating the most viewed Reels on Instagram.
How much money? Knowledge is power (and power is money). Not only will Instagram Creator features help you make better content that is more effective, but Meta plans to invest $1 billion into helping creators thrive.
Before you make your first $1…
Instead of trying to “make it big,” approach these methods as sustainable business ventures with long-term payouts towards financial freedom.
If you’re a little lost on how to get started implementing these methods, we have plenty of how-to articles here atMojo! Next, check outhow to make Stories on Instagram to boost your business.
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