The rise of Instagram in the past five years is more than any five years, which is why people have started making money on Instagram.
In 2014, Instagram influencers were making an average revenue of 134 USD from a single sponsored picture. But in 2019, this amount got a rise, and influencers started making 1.6 thousand dollars from that same picture.
That is why you also want to make money from Instagram. Right?
If so, then you can do it by becoming an Instagram influencer. However, before jumping too far into the process, you are going to need to get more Instagram followers, which is what most big name brands and advertisers are looking at.
And the good news is, there are many ways to start earning some hard cash with your Instagram followers. But we will share some best with you, so stay tuned.
Why Should You Instagram to Make Money?
You must have thought about why you will choose Instagram to make money, but there are many other ways in the market. In reality, it is entirely your choice, but a few factors are why many people have started. Many are going to start making money on Instagram.
The first-ever reason is its increase in audience and interest of people. There were over one billion Instagram users by the end of 2020. And this stat makes it one of the five most downloaded apps on Google Playstore and Appstore in 2020. In January 2021, it became the second most downloaded app after TikTok.
That is why people want to convert their interest into some money to help themselves financially. So, you should also try your luck on Instagram (but with complete dedication) at least once in your life.
How Many Followers Must Get Something Out of Instagram?
No one can say how many social followers you need, but you have to understand one thing: you need fewer followers than you think.
But if you want to go a bit deeper into this topic, you have to tackle some essential factors for the number of followers. Some of these factors are:
- Your niche: One of the most prominent factors is your field or niche in which you are working as an Instagram influencer. Your niche can also be the type of products or services that you provide, like fitness, food, beauty, or fashion.
- Engagement of your followers: If you have one thousand and they react to your posts and services, they are better than those fake hundred thousand followers. Got it?
- Revenue channels: It also depends on those revenue channels that you explore.
3 Best Ways to Start Making Money With Your Instagram Followers
There are various ways that people use to make money on Instagram. But you have to choose one or a few of them according to your interest and workability. Here are some best ways that we think that they will be the best for you to start making money with your Instagram followers:
Influencer marketing has been at its peak the last couple of years, and Instagram is one of the main points of brands to find influencers for marketing. You can also become one of them by posting your posts on Instagram, but they will be paid and sponsored. It will be an advertisement.
Like many other nano to mega influencers, you also have to publish your videos or photos to recommend to your audience a particular product. Many Instagram reel influencers do it with many clothing brands.
They wore a brand’s clothes, and their audience thinks that their ideals are wearing a particular brand. So, they also start to buy that particular brand. And in return, they will get their commission.
Affiliate marketing is pretty similar to posting sponsored content. But there is a big difference that makes both of them a different source of income. You will get paid for publishing and advertising different brands’ products or services in posting sponsored content.
But for affiliate marketing, you will advertise different brands. But you will only get paid if your audience buys that particular brand’s products or services; otherwise, not. Here, it is clear that sponsorship brings guaranteed income while affiliate marketing does not.
They both have some drawbacks, but still, sponsored posts look better as they are. But many people have to do affiliate marketing because big brands offer sponsorship only to macro or mega influencers (which means you need a considerable number of followers for that).
You can monetize your Instagram account by consistently posting unique content like Youtube to get paid by the app. You can make money in three ways:
1. Live Badges
Are you one of those Instagram users who love to go live on the app? If yes, then live badges are the best option for you to earn some money by going live. In this option, your audience will send you some tips while you are going live on Instagram.
Your audience can buy badges from three types of hearts having different prices:
If you live in the UK, US, or Australia, you can avail yourself of this fantastic monetizing option. In March 2021, Instagram has started showing ads during videos of IGTV (reels). And in return, you will get paid from the app as an influencer. According to Instagram’s COO, Instagram ads are making the revenue as Youtube.
3. Third-party sites
You can also use some third-party sites like Patreons and Onlyfans to help yourself financially. You don’t need to just rely on Instagram because you can encourage your audience to follow you on third-party sites.
But it is not that easy because remarkably few people will follow you on Patreon or Onlyfans. You will have to provide quality content to your audience for free to urge them to follow you and make you give your bills.
The Bottom Line
Instagram is indeed one of the most used apps globally, and this fact has advantages and disadvantages as well. But you can overcome every problem with a single practice.
If you want to earn cash on Instagram, you first have to give value to your audience. In other words, you have to build a relationship of trust between you and them. So, start now and build up an authentic and reliable audience.
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