Are you looking for ways to earn some extra cash on Instagram? I’m here to share with you my favorite 9 strategies to make money on the platform.
How to make money on Instagram in 2023: Table of contents
Cross-promote your other money-making channels like the website and Facebook
Make money with Instagram Reels
Instagram is one of the most popular social media apps and continues to grow, with over 500 million active daily users. Even influencers with just a few thousand followers can make a decent income using these strategies.
To start making money on Instagram, you need to reach, influence, and engage followers. A big following is great, but the key is having followers actively engaged with your posts. That’s what makes brands want to invest in you.
So, don’t wait any longer; let’s dive in and start earning some extra cash on Instagram!
Become an influencer
Becoming an influencer is a great way to make some extra cash by sharing pictures of your interests and building your following. The key is having a minimum number of followers (between 2000 and 3000) and a high engagement rate.
To start, just be yourself and post pictures that show your personality. As you build your influence, brands will start reaching out to you for sponsored posts. Just remember, it’s important to only promote brands that you believe in and not overdo it with too many sponsored posts.
It doesn’t matter what you’re into. There’s potential to make money on Instagram. Give it a try and see how it works for you!
Promote affiliate offers
Have you heard of affiliate marketing on Instagram? It’s like sponsored posts, but instead of getting paid just for posting, you earn a commission if someone buys the product or service you’re promoting. Both methods have their pros and cons, so it’s up to you to weigh them and decide what works best for you. Just keep in mind that affiliate marketing on Instagram can be more challenging than running ads on your website. You’ll need an audience, and promo codes are the only way to promote offers since links can only be placed in your bio. But, don’t let that discourage you, it’s still doable if you’re willing to put in the effort. Some influencers make a lot of money with affiliate links.
Build your own Instagram Shop
Have you ever thought about starting an Instagram shop? It’s a great way to connect your e-commerce store with your Instagram profile. You can promote your products directly to your followers through posts, stories, the Explore tab, and the Shop tab on your profile.
Gone are the days when it was difficult for e-commerce store owners to sell through Instagram. Now, with Instagram Shopping, the process is seamless. Customers can easily check out products in the app and head to your store with just one click.
Let’s say you own a clothing store and want to promote an outfit. All you have to do is upload a picture of your model wearing the outfit and tag up to five products per post. You can also promote products in stories and videos.
Starting an Instagram shop can be time-consuming, but the rewards can be great once you establish a large and loyal audience. You’ll have multiple ways to monetize your brand later on. Just use your creativity to come up with an interesting angle that excites people and makes them eager to invest in your brand.
Make money with your content
Do you know that you can actually make money from your Instagram content? Just like on YouTube, there are different ways to monetize what you post on the platform. Here are a few options you might want to consider:
- Instagram Videos – You can create and upload videos on Instagram that show off your products or services or even create content for other brands. You can even make money through Instagram’s In-Stream ads.
- Live Badges – If you go live on Instagram, your followers can support you by buying badges during the broadcast. These badges come in different price points and show their support for you.
- Patreon and Substack – You can also make money from your content by using third-party platforms like Patreon and Substack. You can offer free value on Instagram and encourage your followers to follow you on these platforms for exclusive content they have to pay for.
With these options, you can monetize your content on Instagram and make some extra cash. So why not give it a shot?
Become an Instagram consultant.
Have you considered sharing your Instagram success with others and making some extra cash while doing so? If you have a large and engaged following, you’re in a great position to teach others how to do the same!
And the best part? You don’t have to be a big company to do this. If you have a big enough following, anyone can become an Instagram coach or consultant, regardless of your niche. Whether you’re a travel blogger, food blogger, or marketing consultant, there’s likely money to be made in offering your expertise as a coach.
Advertise your brand
A lot of savvy entrepreneurs use Instagram to promote their brands and drive sales, no matter what kind of business they have. Whether you sell physical products or offer services, Instagram is a great platform to spread the word and get people interested.
The more followers you have, the more visibility your posts will have, which means more potential customers for your business. To reach a wider audience, you can use hashtags related to your niche, geotags to target specific locations, and collaborate with other accounts in your industry.
Also, make sure to post high-quality images and videos. This will make your account look more attractive and make people more likely to follow you.
Share your knowledge and make money.
Have you ever thought about making money on Instagram by sharing your knowledge and skills with others? That’s right. You can actually earn more than just through affiliate marketing by creating and selling info products.
So, if you’re thinking of creating your own info product, think about what you can offer your audience that they can learn from and grow with. It’s a great way to make money on Instagram while sharing your passion and knowledge.
Similar Read: How to Delete an Instagram Account
Cross-promote your other money-making channels like the website and Facebook
If you have other channels for making money, like a website or youtube page, be sure to cross-promote them on Instagram. For example, you can share links to your website or youtube channel in your Instagram bio, or mention it in your captions or stories. This way, you can direct your Instagram followers to your other channels, where they can learn more about you and engage with your content. Cross-promotion is a great way to increase your visibility, build your brand, and grow your income streams.
Make money with Instagram Reels.
Have you heard about Instagram’s Reels Play bonus program? It’s a pretty cool opportunity for content creators to earn money for making videos that go viral. The catch is that it’s currently invite-only, but if you’re skilled at making short-form, vertical videos, this could be a great way to make some cash on Instagram. Keep in mind that the earning potential is still being tested, but it doesn’t hurt to keep your fingers crossed for an invite. In the meantime, don’t forget to keep working on your content and trust your skills. You never know when an opportunity will come your way.
How much money does an influencer make?
The earnings of influencers can vary greatly, anywhere from a few bucks to a million dollars per post!
A few things that can impact how much you earn include your number of followers, engagement rates, and the way you use affiliate marketing. But here’s the good news: there’s room for influencers of all sizes to make money on Instagram.
There are 5 tiers of influencer marketing based on the number of followers:
- Nano-influencer: 1,000-10,000 followers ($10-100 per post)
- Micro-influencer: 10,000-50,000 followers ($100-500 per post)
- Mid-tier influencer: 50,000-500,000 followers ($500-5,000 per post)
- Macro-influencer: 500,000-1 million followers ($5,000-10,000 per post)
- Mega-influencer: over 1 million followers ($10,000 and up, even over a million dollars per post!)
Don’t worry if you don’t have a lot of followers yet. Growing your account and earning the trust of your followers is more important than the number of followers you have. Brands look for influencers with an engaged following, so you can still make good money even if you only have 1,000 followers.
When can you make money with Instagram?
Have you been wondering how many followers you need on Instagram to start making some cash? Well, the good news is that you don’t need as many as you think!
A few factors determine how much you can make, like what niche you’re in, how engaged your followers are, and which revenue channels you choose to explore. Of course, the more engaged followers you have, the better your earning potential will be. But don’t worry if you don’t have a huge following yet. Even with a small but engaged audience of 1,000 followers, you have the potential to start earning money.
Remember, it’s not just about having a lot of followers but having followers who are genuinely interested in what you have to share. So keep working on building that engaged audience, and you’ll be on your way to earning some cash through Instagram!