Instagram is a social media platform that individuals and businesses use for sharing their content. Initially, Instagram was only about sharing images to grab the attention of the audience. But now, it has emerged as a significant business opportunity for entrepreneurs and content creators. People can use several methods like IGTV videos, reels, Instagram lives, etc., to connect with a global audience. This exposure helps in creating a source of income for creators and businesses. So let us see how to earn money from Instagram. Below is a list of methods that you can use to generate income from your Instagram account.
Did you know?
There are more than one billion monthly active users of Instagram. Out of these, around 500 million people use Instagram every day. The majority of these users fall into the age group of 25-34 years old. As most people of this age group have a regular source of income, they make Instagram a strong market to sell products and services.
How Much Do Influencers Earn From Instagram?
Influencer marketing is a relatively new form of marketing that has gained popularity in recent years. This form of advertising allows companies to reach a wider audience with their products and services by using popular social media "influencers" as a medium for advertising.
Influencers can earn from Instagram by creating relevant content. Influencers can be celebrities, athletes, or ordinary people with many followers on Instagram. Companies will offer payment or free products for influencers to promote their products or services on Instagram. How much do influencers get paid for Instagram posts?
- Nano influencers (2000 - 9,000 followers) - ₹4000 to ₹16,000 per post
- Micro-influencers (10,000 - 50,000 followers) - ₹16,000 to ₹30,000 per post
- Middle-tier influencers (60,000 - 100,000 followers) - ₹35,000 to ₹60,000 per post
- Top-tier influencers (100,000 - 500,000 followers) - up to ₹1 lakh
- Mega influencers (Above 500,000 followers) - up to ₹1.2 lakh
How Many Followers Do You Need to Get Paid for Instagram Posts?
The number of followers you need to make money on Instagram may vary depending on your niche. For example, if you're a fashion blogger, you may need more followers to start earning significant revenue. But if your niche is cooking or fitness, you might be able to start making some money with as little as 10,000 followers.
Therefore, the niche plays an important role in determining how many followers you need to generate business on Instagram. Some nano influencers with as few as 5000 followers can generate income through Instagram. Businesses approach these influencers with a high engagement rate, and the audience likes and shares their content.
5 Ways to Earn Money From Instagram
Sponsored content is an efficient way to earn money from Instagram. Influencers with a good number of followers are often contacted by brands or marketing agencies to create sponsored posts for their products. If you do not have many followers, you can still make yourself visible by joining some of the influencer marketplaces available on the internet. You can also start applying for sponsorships through the company's website you want to collaborate with.
The amount of money that brands will offer you for a sponsored post will depend on the number of followers you have and the engagement rate. Instagram mandates that all sponsored posts must be marked as sponsored so that the audience knows that it is a paid partnership between the influencer and the brand.
Promote Your Business
Instagram is a social media platform mainly used by the younger generations. It is a great way to promote your business and engage with your target audience. Promoting your business on Instagram helps make people aware of your company's products and services.
You can promote your business on Instagram by creating a business account, following other similar accounts, uploading high-quality images, using hashtags, linking your account to other social media platforms such as Facebook or Twitter, and interacting with followers through comments or liking posts. You can also post videos showcasing the products you have to offer to get more engagement from followers.
Set yourself up for success by promoting your business in the right way. It will create your brand's awareness and get new customers that will ultimately increase the profitability of your business.
Also Read: Money Management Tips: How to Do It Right
Sell Your Castoffs
If you wonder how Instagrammers make money by selling their castoffs on social media, let us tell you how. Instagram is a visual platform, meaning users are more likely to be drawn in by images than by text. This makes it the perfect place to sell your castoffs. If you have clothes, accessories, or other items that you no longer want or need, you can put them up for sale on Instagram.
All you need to do is take a picture of the item, write a brief description, and post it on Instagram. You can also use hashtags to make your post more visible. Don't forget to include a link to your online store or website in your profile so that potential buyers can look at the products you are offering and decide on a purchase. It's a great way to get rid of stuff you don't need anymore and make some extra money out of it.
Earn Badges Through Live Videos
Instagram loves to introduce new features to its app quite frequently. Instagram Live was added as a feature in 2017. This feature allows users to share live videos with their followers. When the filming is done, the video disappears, or it can be saved as a post on the feed so that viewers can watch it later. In some countries, Instagram has started badges as a new feature related to living videos. The great thing about it is that it offers users the opportunity to earn badges.
Users can purchase 3 different badges during a live video. The badges are priced at $0.99 (₹76), $1.99 (₹152), and $4.99 (₹381). When a follower or a viewer purchases a badge during a live video broadcast, hearts appear next to their username in the comments section. The hearts represent support for the creator. By connecting with viewers frequently and earning more badges, creators can earn money from Instagram live videos.
Monetise Your Videos With Ads
IGTV videos are long-form videos produced by creators and businesses to provide value to their audience. As these videos are long enough, one can choose to include advertisements in between for revenue generation. The ads are 15 seconds of video content that are played when a viewer watches IGTV videos. The revenue generated depends on the number of views a video has collected. In technical terms, it is known as Monetizable Plays. Instagram began sharing ad revenue with content creators in May 2020.
Instagram is not just a social media platform. It has emerged as a global marketplace for content creators and entrepreneurs where they can sell their products and services. It is a great platform for connecting with the target audience and building trust with customers. The key to gaining new followers on Instagram is to be authentic, transparent, and truthful to your audience. When customers see the real you, they are more driven to buy your products or products suggested by you. Now that you know how to make money on Instagram, you must remember that consistency is the key. Building a following on social media takes time and patience. Keep at it, and you will succeed.