10 Ways to Make Money On Instagram
You don't need to be a Kardashian to earn cash on the app.
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Instagram has become a lucrative social media platform in the last few years, with several celebrities now earning close to $1 million per post. While you may not be able to cash in that kind of paycheck without getting famous first, there are plenty of ways that people with much smaller accounts can turn this app into a legitimate side hustle.
Before you can start bringing in earnings, you’ll need to accomplish a couple of things: first, gain a substantial number of followers (minimum 2,000) and second, increase your engagement with them. Both of these can be accomplished through strategies including adding hashtags to your posts, utilizing Instagram stories, writing detailed, personal captions, and scheduling your content to post at optimal times. Once your account has a solid reach with an interactive base of followers, you’ll be well on your way to making money on Instagram in any of the following 10 ways.
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Create Sponsored Posts for Brands
Probably the most well-known strategy for making money on Instagram is to create sponsored posts for brands. Brands typically want to work with microinfluencers who post content within certain niches such as fashion, travel or beauty, and are considered to be trustworthy in these categories by their audience. Advertisers may reach out to you if your account is popular enough, otherwise, there are plenty of influencer communities that can help you get connected to relevant brands. Payment for sponsored postsvaries widely, but a general rule of thumb is that you’ll receive one cent per follower (or $100 per 10,000 followers) for each sponsored post.
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Utilize Video
Instagram has always been a visual medium, but engagement with video content in particular has skyrocketed in recent years. Each of the video formats on the platform, which include standard posts, Instagram Stories, Instagram Live and IGTV, have brand-building uses whether you choose to promote products on them, establish trust through tutorials or post something purely entertaining. If you’re partnering directly with a sponsor, you can make an additional 40-50% per video post, with more earnings possible when Instagram Stories are included.
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Become an Affiliate
Becoming an affiliate on Instagram means working directly with a company and trying to sell their product. Once you find a partner, you’ll get a link that allows you to track the products you sell and earn a commission on them. Out of the many affiliate programs available, Amazon is one of the most accessible to users with smaller profiles. With their program you can earn anywhere between $3-$15 per sale.
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Sell Your Photos
If you’ve got a knack for photography, you might considering working with companies that will pay you for your Instagram pictures. One is Twenty20, which sells stock photos from Instagram in addition to turning these images into products like phone cases. How much you make on Twenty20 is based on how many subscribers purchase your photos and can vary dramatically. Another company, Foap, has a similar model and shares 50% of its profits for licensed photos with creators.
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Open an Online Store
If you’ve got a product or service to sell, Instagram is an ideal platform to showcase it. According to a recent survey, 30% of Instagram users have purchased something they first discovered on the app, meaning scrolling and shopping are quickly becoming one in the same. Plus, Instagram’s new shoppable posts feature allows you to tag your photos with links for followers to easily purchase your products. With this method, your potential profits are limited only by how much you’ve got to sell.
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Sell Your Closet
Whether you’re in need of a few extra bucks or just happen to be taking a page from Mario Kondo’s book, Instagram can be a helpful tool to get your clothes some exposure among people you know and those you don’t. For some inspiration, you can search #ShopMyCloset to see how others are advertising their items. Many have had success making money this way, but your income will of course depend on how much you sell and the quality of your items.
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Use Instagram to Boost Your Presence on Other Platforms
If you have an online presence on other platforms like YouTube or Apple Podcasts, Instagram can be a great way to build your audience across them. You can promote a new channel or individual episodes by using hashtags and linking your new content on your Instagram page. Depending on how profitable your other platforms are, this could be a great way to expand your reach and increase your pay.
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Sell Shoutouts to Smaller Influencers
Once your Instagram account starts getting sizable (think over 50,000 followers) another way you can make money is to sell shoutouts to smaller influencers. This cross-promotional technique requires less effort than some of the other methods and can be very lucrative depending on how big your account is. Sites like Shoutcart will help you get started, where mid-level influencers charge around $10 per shout out and celebrities charge nearly $200.
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Sell Your Account
If you’ve managed to successfully turn your Instagram account into a profitable venture with a unique brand and large following, there’s a good chance you can sell it. On Social Tradia, accounts with between 2,000-5,000 followers sell for roughly $100, while accounts with over 100,000 followers can sell up for up to $20,000. Other vendors include TooFame and FameSwap, so you’ve got several options to choose from.
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Become an Instagram Consultant
Once you’ve become a master at Instagram marketing, you can help others become successful and further your profits at the same time by becoming a consultant. There are several social media marketing firmsthat offer professional services, or you could become a freelance Instagram consultant and set your own rate, which can be anywhere between $15-$120 an hour depending on your level of expertise.
