Top Ways to Earn Money on Instagram

For most users, Instagram is purely for fun. But for some, it's their bread and butter. Brands, businesses, and creators aren't on the platform to post pretty photos. They're there to make money--and lots of it. But earning an income on Instagram isn't as easy as it may seem. It's not something you enter on a whim, as it requires a lot of work, research, and strategy.

If you want to earn money on Instagram but aren't sure how to get started, here are tips for aspiring businesses and creators. The good news is Instagram provides plenty of help to those who want to make a living on the platform.

How Much Money Can You Make on Instagram?

Instagram has to compete with other social media giants like TikTok, YouTube, and Snapchat. To get ahead of the competition, it strives to make the platform as conducive to business as possible. Brands and creators on Instagram get access to various tools and features that can help them earn a living.

Not only does Instagram provide a lot of help, but there are also plenty of opportunities on the platform. There are approximately 1.44 billion Instagram users, so there's unlimited potential you can tap. Given these advantages, it's possible to earn a decent income on the platform. The question is, how much?

It depends on the size of your influence. Top celebrities like Cristiano Ronaldo and Kylie Jenner, who have amassed millions of followers, earn around a million per post. Of course, the average influencer makes much less than that.

According to a survey by HypeAuditor, micro-influencers with 1,000 to 10,000 followers earn an average of $1,420 per month. Meanwhile, mega-influencers with over a million followers make around $15,356.

How Many Followers Do You Need to Make Money on Instagram?

You can start making an income on Instagram with as little as a thousand followers. Even if you don't have a massive audience, you can still get brands' attention as long as you have good engagement. If your followers like, comment, and share your posts, there's potential to earn.

Brands have a heightened interest in micro-influencers because they maintain a closer connection to their audience and keep them engaged. It's challenging to do so when you have thousands or millions of followers. If you have an enthusiastic and loyal fan base, even if it's small, it's valuable to brands and businesses.

How Can You Make Money on Instagram As a Business?

According to Instagram, 44% of users are on the app to shop weekly. That's a considerable advantage to businesses. The interest is already there, so all you have to do is stay active and keep your followers' attention on you. Here are some ways to do that.

• Promote Your Sales

  Shoppers, including the ones on Instagram, love a good deal. Use the platform to get the word out whenever you have discounts, promo codes, and special offers. Not only will it build hype and drive sales, but it's also shareable content. Your followers can tag their friends or share or repost your content, encouraging even more people to purchase from you.

• Set up an Instagram Shop

  Users are even more inclined to buy when they can purchase directly on Instagram. That's why it's worth setting up an Instagram shop. Posts with shoppable items will appear with a shopping bag icon to let users know they can purchase the items on the app. They can check details like prices, sizes, and variants on your catalog.

  Another advantage of having an Instagram shop is that you can address customer concerns immediately. If they have questions about an item, they can comment or DM you and quickly get an answer. In addition, it'll be much faster for you to convert leads and earn money.

• Partner With Influencers and Other Brands

  When you collaborate with an influencer, you're exposing your products to a much wider audience and increasing your earning potential. While it can be highly beneficial, you must be careful in choosing partner influencers. Their values must align with your brand to prevent any confusion.

  You can also partner with similar brands to tap their customer base. They'll also benefit from yours, so it's a win-win. You can run a giveaway together to increase your following, drive sales, and earn more.

How Can You Make Money on Instagram As a Creator?

The most common way for creators to make money on Instagram is by partnering with brands and promoting their products for a fee. But there are other ways to get paid on the platform besides branded content. Here are some examples.

• Turn on Live Badges

  Live Badges are a great way to connect with your audience and earn. Your viewers can show their support by buying badges that range from $0.99 to $4.99. You can ask your viewers what they want to see before you go live. You can also share your goals with them, so they feel involved and will be encouraged to purchase badges. Be sure to thank them through shoutouts and stickers.

• Promote Your Paid Tutorials and Classes

  If you're a yoga instructor, art teacher, or an expert in some other field, you can provide paid online classes and promote them on Instagram. You can tease them by posting a few tips or a short preview on Instagram and providing a link where interested followers can sign up and pay. If you're not confident in your skills yet, you can offer free classes and give your students the option to donate.

• Sell Merch

  If you have a strong connection with your followers and they know you for a certain aesthetic or catchphrase, you can sell merch and promote it on Instagram. It's a highly lucrative strategy, but it needs to be well-thought-out. When your followers see your merch, they should be able to associate it with your brand. What's great is that you get free advertising when they show off your merch on their accounts.

The Bottom Line

Instagram holds massive earning potential for creators and businesses. With creativity and a clear strategy, it's possible to start making money on the platform.