As social media has become part of human life, why not make money from it? One social media platform that you can leverage as an ATM machine is Instagram. With over a billion users all over the world, Instagram is a gold mine and will most certainly stay so for years to come. Therefore, this is a great platform to start making money— so how will you do it? Well, there are a lot of different ways you can get started today even if you don’t have hundreds of thousands or millions of followers! Just what Neil Patel said, even if you only got 1000 followers, the potential of making money is present. So, we are going to provide you with the best ways to make money on Instagram.
Top ways you can make money on Instagram
Here are the specific 10 ways how to monetize your Instagram account. Let’s start!
Get sponsored post
One way to make money on Instagram is by creating sponsored posts or stories which showcase a product, service, or brand. Businesses today are always looking for Instagrammers of any size to collaborate with. But before that, for you to have a chance to be sponsored, you must know how to engage well with your followers, and how to create compelling content. A sponsored post can be in a form of product reviews and brand mentions. You can include your sponsor’s URL, branded hashtags for viewing products, and a caption. When it comes to setting rates, keep in mind that aside from creating content, you allow them to access your followers and usage rights.
Become an affiliate marketer
Somewhat related to influencers, affiliates are more committed to making sales for the brand because they get a commission from it. When you become an affiliate, you will be provided with a unique trackable link or promo code for them to make sure how many people click your link or code that ends up in sales. You can have your unique link in your Instagram bio, and promo code in your stories, and posts.
As links are long, we recommend using an URL shortener to make them appealing to the eyes. Moreover, there are affiliate communities that offer affiliate programs you can sign up for, a few of these are, Clickbank, ShareASale, and Amazon Associates.
Set up your e-commerce store
Whether you have physical or digital products, Instagram is one of the best platforms to market them. You can create posts and stories about them that your focused audience can easily see. In addition, you can add your e-commerce store’ link in your bio so that your audience or followers can go directly to your website to purchase products. Better yet, make use of Instagram’s feature “Shop Now” advertising button which takes your audiences directly to your e-commerce website. One example you can take is Haus. Hause puts its e-commerce site in its bio where it takes people directly to its website.
Source: Instagram @drinkhaus
Offer Instagram management services
If you are good at managing an Instagram account, why not help others? One way to make money on Instagram is by offering management services. There are a lot of entrepreneurs today who want to get bigger on this platform but do not have the skills and time to execute it. You can be a social media virtual assistant where you can take charge of answering people’s inquiries, replying to comments, and even creating engaging posts, stories, and reels. It all depends on your client’s needs. You can visit Upwork, Fiverr, or any other freelancing sites to research jobs related to Instagram.
Instagram badges
One way your followers show support for you is through purchasing badges whenever you go live on Instagram. Badges are equivalent to earnings, so make sure your content is engaging and give your followers a reason to give you badges. After you stream, you can view your total earnings under Badge Settings.
Sell your photos
If you’re good at photography, you can surely make money on Instagram. Today, most businesses are willing to pay for Instagram content. You have the option to sell it for prints, or you can opt for your photos to be licensed and use them on your client’s accounts. You can also offer different sizes of your photos so that your client can print in a mouse pad, t-shirts, and other similar products.
Sell dropshipped products
If you are into dropshipping, why not market dropshipped products on Instagram? It has the same idea of selling your very own products to make money on Instagram. The only difference is you are not required to store any inventory. And if you are looking for dropshipping suppliers, here’s a list to help you get started.
Instagram coaching
Closely related to offering Instagram management services, Instagram is less hands-on. You will be providing tips and tricks to your clients who are in need of a strategy in regard to their social media marketing. You have the option to provide one-on-one sessions, e-books, or any other resources.
Kamelia Britton is one example who already does Instagram coaching to make money.
IGTV ads
By turning your IGTV ads, there’s a chance you can make money on Instagram. IGTV ads work similarly to YouTube. The best thing about this, is you get paid up to 55% of the ad revenue generated per view which you can get every month. However, IGTV ads are currently available in the US, UK, and Australia and you’ll need to be at least 18 years old and has a creator or business account.
Link Instagram to your vlog
If you are making money on YouTube, then you can use Instagram to direct your followers to your vlog. You can create a post where can craft a caption that your new vlog is up, or you can simply put your vlog link (use a URL shortener) to your Insta bio.
Takeaways
There is no doubt why brands and influencers have stayed on Instagram as there are plenty of ways to earn on this platform even if some of them don’t have thousands and millions of followers. So, if you are one of the people who want to make money on Instagram, you can use this list to find out how you can take advantage of this platform.
