You don’t need hundreds of thousands of followers to make money on Instagram. Whether you have 1 thousand or 1 Million followers, this article will show you how to create multiple streams of income, so buckle up…
The truth is, if you have a small-but-engaged following, you just have the potential to start making money on Instagram today. You just need to follow the process laid out in this step-by-step plan.
According to Buffer, accounts with 10,000 followers or less are more likely to drive more conversions to businesses and brands, they are getting the best results for businesses.
Whether you want to represent your brand or a partner’s brand, this article is all about how you can make money on Instagram, let’s get started with the tips…
Sponsored Posts or Shoutouts
This is Instagram we’re talking about here, every brand or person wants more exposure and more followers, what is a better way to do that than to pay for Sponsored posts or Shoutouts?
How this happens is like this, a brand hits you up, then makes their advertising intentions clear as well as how much they’re willing to pay. If you have less than 10k followers, negotiation might lead to you losing the deal, don’t bother! you can negotiate higher payments as you grow.
An influencer with 10,000 Instagram Followers can charge $5 – $15 per Sponsored Post, it all depends on your agreement with the Brand(s).
I know you probably heard of this method before, Affiliate Marketing still stands as one of the best ways to make money from your Instagram account, you’ll need 10k followers though.
If you want to use your Instagram account to make affiliate revenue, you need to surpass the 10,000 followers threshold, this allows you to add links to stories.
According to my Instagram account stats, my stories get more engagements than my traditional Instagram posts in the 24-hour time frame.
On my Instagram account which I use to make money with Affiliate Marketing, I selected 5 of the best affiliate programs in the niche, ones that pay high commissions and cookies that last for months.
Then created Story highlights for all of them, so that they’ll be visible to anybody who visits my Instagram account. When they open the highlights, they get a well-designed story banner with a ‘Swipe Up Link’ which leads straight to my affiliate Landing Page.
So far as I keep creating engaging content and getting more people to visit my profile, I keep making money on Instagram using affiliate marketing.
Most Instagram Influencers now have personal brands, these days you don’t need a physical company to start selling products online and one of the best places to advertise your products is on Instagram.
If your influencer account has more followers and engagement than your brand account, you can use your influencer account to advertise your products and get more exposure, this way you might start getting sales before your products account even has 100 followers.
Even if you’re stuck at 1000 Instagram followers, you can be posting your products on your stories and tagging your product account, remember that stories reach more people and get more engagements.
Earn with IGTV Ads
This is Instagram’s feature that pays creators for their content, you don’t need a lot of followers, you only need to upload IGTV Videos consistently, they are just like Reels but can be considerably longer.
Back in 2020, Instagram started testing IGTV with a revenue share model for some US Based Creators, by 2022, they’ve expanded their horizons to pay creators from Various Countries.
If you’re wondering how earning with IGTV Ads works, you upload IGTV Videos, then share them on your feed, people who watch a bit of preview before clicking on to watch the main content will see a mobile video ad which can last up to 15 Seconds.
For you to get eligible for IGTV Monetization, your account needs to have existed for at least 90 days, your content must comply with Instagram policies, and most of all, your IGTV Videos must get 30,000 1-Minute Views in the last 2 months.
IG Ads Arbitrage
If you have an online shop that can use a bit more targeted customers, Instagram has a great advertising feature that’ll make that wish come true.
With Instagram Ads, you get access to a lot of exciting targeting features but the most important aspect we’re looking at is how Instagram Ads Arbitrage will help you make money on Instagram.
With this strategy, you earn double, triple, or quadruple what you pay for the ads and you should use Video Ads.
For this strategy to work well for you, you should have a well-designed online shop probably powered by WordPress and you should have Email Lead Generation forms and push notifications, so you can get visitors to come back.
You’ll now create video ads, then set your ad purpose to traffic, and add the link to the landing page, making sure that your video is engaging and exquisite, so people can be willing to engage with your brand.
The goal here is to get visitors to your Online Store and Instagram will help you do just that, let’s say it costs you $5 to get a visitor on your store who ends up paying for a $50 product, that’s $45 and a 9x ROI.
If the same visitor Subscribes to your Email list, you can send them new and trending products similar to the ones they interacted with and he or she will keep coming back to your site and buying more, the profit margin is just invaluable.
Whenever you need money, you just send out Emails to your leads notifying them of trending products that they might be interested in, it’s as simple as that.
Flipping IG Accounts
I’ve seen a couple of people who use this strategy to make money on Instagram, they create and grow niche accounts to sell for money.
Using this method, you need to create a niche-specific Instagram account(s), then use tools like Canva and other scheduling tools to schedule your Instagram posts, the goal is to post every day.
You can use Lumen5 to create video content for your Reels and IGTV, then schedule the videos alongside traditional Instagram posts using software like Buffer, which can help you schedule stories.
The essence is that everything is done on autopilot and doesn’t cost up to 1000 followers. Using this technique, I’ve managed to get 100k followers in 3 months for a niche-specific Instagram account (Food Niche).
Guess how much I sold the account, remember when I mentioned that most marketers charge $0.01 per follower, this time you can charge up to $0.05 per follower, for that account, I sold it for $20,000 after much negotiation.
Some marketplaces can help you sell your Instagram account, you can sign up there and use their services but I prefer handling every transaction myself.
How many followers do you need to make money on Instagram?
Top Level Influencers who have from 100k – 1 Million Instagram followers can charge up to $670 per post, they can, however, charge more, it all boils down to the niche that you’re in, your niche defines your competition and how much you’ll make.
The most profitable and high competition niches on Instagram are Fitness, Beauty, Health, Travel, and Business.
How much money you charge also depends on how engaged your Instagram followers are. Brands who advertise their products with influencers aim for the highest possible return on investment (ROI), you can’t possibly provide one of your 100,000 fake Instagram Followers.
How Much do Instagram Influencers Make?
This means that if you have 1000 followers, you can potentially charge $10 per sponsored post, this is just a guideline though, you can charge more in the circumstance.
What is the Average Number of Followers you need to Make Money on Instagram?
But left for me, grow your account to 10,000 followers so you can start making good money from the steps mentioned in this article.
With this article, I believe you’ve marked Making Money on Instagram as Easy as I’ve given you the best tips on how to do so effectively.
Focus on growing your account and the deals will come surely. Of all the methods I listed, my favorite is flipping Instagram accounts. It makes me more money, though I have to spend more compared to other methods of making money on Instagram.
If you have any questions or issues with one of these tips on how to make money on Instagram, ask me in the comments, I’d be glad to help!