How to Make Money on Instagram: A Comprehensive Guide
Are you looking to make money on Instagram but don't know where to start? Look no further! In this guide, we'll cover everything you need to know about making money on Instagram, from how many followers you need to get paid to the different ways you can monetize your account.
Understanding Instagram's Payment Program
Instagram used to have a program where they would pay you for how many views you would get on your reels. However, this program was discontinued in March 2023. But don't worry, there are still plenty of ways to make money on Instagram.
Five Ways to Monetize Your Instagram Account
1. Host Events: You can host events as a live webinar or in person and charge a fee for people to attend. Once your events start to get really big, you can sell sponsorships to brands that want to advertise at your event.
2. Offer Exclusive Content: If you have valuable content like relationship advice or career advice, you could create a private Instagram group where you share exclusive tips and tutorials.
3. Make an Online Store: Using Shopify, you can create an online store and post about your products and services to get people to buy.
4. Offer Your Services as an Instagram Manager: If you love creating content and managing social media accounts, you can offer your services as an Instagram manager or content creator to find businesses to work with.
5. Become a Creator: Learn how to blow up on Instagram, make a plan to post every day, and then stick to it. Creators' number one mistake is just lack of consistency. If you can be smart and consistent, you can make money as a Creator.
How Many Followers Do You Need to Make Money on Instagram?
There's no magic number. I have seen an Instagram account with 5,000 followers make thousands of dollars off of collaborations with other brands, and I have also seen an Instagram account with literally millions of followers try to sell to their audience and completely flop.
However, if you want to know in general how much you can expect to make, these are the most up-to-date estimations:
- Nano influencers with anywhere from a thousand to 10,000 followers can expect to make $10 to $100 per post.
- Micro influencers with 10,000 to 50,000 followers can make $100 to $500 per post.
- Mid-tier influencers with 50,000 to 500,000 followers can make $500 to $5,000 per post.
- Macro influencers with 500,000 to a million followers make $5,000 to $10,000 per post.
- Mega influencers with a million followers or more can make $10,000 to a million per post.
Three Beginner Ways to Make Money on Instagram
If you're just starting out on Instagram and want to make money quickly, here are three things you can do right now:
1. Join an Affiliate Program: A really great one is Like to Know It. It's easy to join, and you can sell products by creating affiliate links and earning commissions on those purchases.
2. Set Up an Instagram Shop: Your followers can shop the products that appear in your photos and videos with Instagram Shop.
3. Enable Live Badges: If you're a Creator in the US, when you have these enabled and you go live, viewers can show their support by purchasing these badges.
Conclusion
Making money on Instagram is not easy, but it's definitely possible. By following the tips and strategies outlined in this guide, you can start monetizing your account and earning a steady income. Remember, consistency is key, so keep posting and engaging with your followers, and you'll be well on your way to Instagram success!
Highlights
- There are five ways to monetize your Instagram account: hosting events, offering exclusive content, making an online store, offering your services as an Instagram manager, and becoming a Creator.
- There's no magic number of followers you need to make money on Instagram.
- Nano influencers can expect to make $10 to $100 per post, while mega influencers can make $10,000 to a million per post.
- Three beginner ways to make money on Instagram are joining an affiliate program, setting up an Instagram shop, and enabling live badges.
FAQ
Q: Can you still get paid for views on Instagram?
A: No, Instagram discontinued their payment program for views on reels in March 2023.
Q: How many followers do I need to make money on Instagram?
A: There's no magic number. It depends on your engagement rate and the type of content you create.
Q: How much can I expect to make on Instagram?
A: It depends on your follower count and the type of collaborations you do. Nano influencers can expect to make $10 to $100 per post, while mega influencers can make $10,000 to a million per post.
Q: How do I become an Instagram manager or content creator?
A: You can offer your services to businesses by DMing them on Instagram, LinkedIn, or finding them on Upwork.
Q: What are live badges on Instagram?
A: Live badges are a way for viewers to show their support for Creators during live streams by purchasing badges.
