Marketing

How to Make Money on Instagram in 2024 (Best Ways to Success)

Are you tired of just “Instagramming”? Discover how to turn your passion into profit with Instagram.

Forget the myths and false promises. Making money on Instagram is not about luck or having millions of followers. It’s about creating a strategy, cultivating an audience, and leveraging the various tools the platform offers.

Get ready to turn your passion into a profitable business. Join us on this journey and discover how to turn your Instagram account into a source of consistent income.

Do You Want To Learn More About Making Money On Instagram?

If before discovering what are the most famous and efficient ways to generate income on Instagram you have other questions such as “How much does Instagram pay?”, “How much money do the most famous influencers currently generate?” or “How many followers are needed to start generating income”. You can consult the following articles where we cover all this information in detail to satisfy your curiosity.

How To Monetize Instagram and Make Money (12 Effective Ways)

  1. Collaborate With Brands For Sponsored Posts
  2. Promote Affiliate Offers On Your Account
  3. Get paid by Instagram as a Creator
  4. Sell Your Own Merchandise
  5. Drive Traffic To Your Website
  6. Selling Courses and Digital Products
  7. Enable Instagram Subscriptions
  8. Offer Instagram Marketing Services
  9. Donations and Tips
  10. Dropshipping
  11. Reselling Clothing
  12. Enable Ads On Reels

How To Earn Money From Instagram? This question has always been on people’s minds, and today we give you a clear answer. There are many ways. We will present each of these ways so that you can choose the one that best fits your personal situation and learn how to monetize your Instagram account.

1. Collaborate With Brands For Sponsored Posts

Collaborating with brands for sponsored posts is a way to make money on Instagram where content creators (influencers) partner with brands to create and publish content that promotes their products or services in exchange for financial compensation. This is the first step on how to become an Instagram influencer and get paid for it.

How does it work?
  1. The brand contacts the influencer and proposes a collaboration.
  2. The details of the collaboration are agreed upon, such as the type of content, publication date, price, etc.
  3. The influencer creates the content following the brand’s guidelines.
  4. The influencer publishes the content on their Instagram account, tagging the brand and using the agreed-upon hashtags.
  5. The brand pays the influencer the agreed-upon fee.
Real Cases
  • A fashion influencer posts a photo on Instagram wearing a dress from a clothing brand.
  • A travel influencer posts a video on Instagram about their experience at a hotel.
  • A fitness influencer posts an Instagram story recommending a dietary supplement.
How much can you earn?

Here’s a rough estimate of potential earnings based on follower count (keep in mind these are just averages, and actual earnings can vary greatly):

  • Nano-influencers (1,000-5,000 followers): $10-$100 per post.
  • Micro-influencers (10,000-50,000 followers): $100-$500 per post.
  • Mid-tier influencers (50,000-500,000 followers): $500-$5,000 per post.
  • Macro-influencers (500,000-1 million followers): $5,000-$10,000 per post.
  • Mega-influencers (1 million+ followers): Highly variable, ranging from tens of thousands to hundreds of thousands per post (or even more for celebrities).
How to find opportunities to make money with sponsored posts on Instagram

Join influencer marketing platform

Influencer marketing platforms offer influencers access to a wide range of brand collaboration opportunities. Brands across various industries use these platforms to find influencers who align with their target audience and marketing goals. As an influencer, joining these platforms expands your reach and visibility to potential brand partners looking to engage with creators like you. To find brands to work with, you can join varying Influencer Marketplaces.

You can always consider contact brands directly

  • Research brands that interest you and fit your niche.
  • Visit their website or social media to see if they work with influencers.
  • Send a direct message to the brand introducing yourself and expressing your interest in collaborating.

Remember

  • Not all brands will respond to your messages.
  • Be patient and persistent.
  • Build a good relationship with the brands you work with.

2. Promote Affiliate Offers On Your Account

Promoting affiliate offers on your Instagram account is a way to earn money by recommending products or services from other companies in exchange for a commission on every sale made through your unique affiliate link.

How does it work?
  1. Join an affiliate program offered by a company you’re interested in.
  2. Obtain a unique affiliate link.
  3. Promote the product or service on your Instagram account, including your affiliate link in the post or story.
  4. A user clicks your affiliate link and makes a purchase.
  5. You receive a commission for the sale.
Example

Martha, a fashion influencer with 20,000 followers wants to promote Sneakers from brand X.

  • Martha posts a photo on Instagram wearing the brand X sneakers.
  • In the caption, she mentions the features of the sneakers and her experience with them.
  • She includes an affiliate link to the brand X online store
  • Some users click on the affiliate link and purchase the sneakers.
  • Martha earns a commission for each sale.
How much can you earn?

The amount of money you can earn through this method varies depending on several factors, such as:

  • Your number of followers.
  • Your audience engagement level.
  • Your niche.
  • The product or service’s popularity.
  • The affiliate program’s commission rate.

Generally, influencers with larger followings and higher engagement can earn more money per sale. For this type of monetization, the most important thing is to have a high engagement rate among your Instagram followers so that people interact as much as possible with the link you share and are willing to make a purchase.

Tips for success
  • Promote products or services relevant to your audience.
  • Be transparent with your followers about your brand partnerships.
  • Use clear and concise language in your posts.
  • Include a call to action prompting your followers to click your affiliate link.
  • Track your posts’ performance to see what works best.

3. Get paid by Instagram as a Creator

In June 2021, Facebook announced an ambitious plan to invest over one billion dollars in programs that allow content creators to earn money for their work.

How will they do it?

Through a series of programs designed for different types of creators and content formats. Among them stands out the Creator Fund, a fund dedicated to monetizing content on Facebook Reels, Instagram Live, and Stories.

What benefits does this bring?

  • Creators of all sizes and niches can access these tools and generate income.
  • Creativity and effort of those who produce valuable content for the community are rewarded.

3.1 Enable Instagram Live Badges

If you have a business or creator account on Instagram and a minimum of 10,000 followers, you have the opportunity to earn money through Instagram badges. These badges allow your followers to express their appreciation and support for you during your live videos, essentially functioning as virtual tips. Once you activate badges on your Instagram profile, they become accessible to your audience during your live broadcasts. As viewers purchase badges, you’ll notice hearts appearing next to their usernames.

Badge purchases can be made by viewers during your live videos in increments of $0.99, $1.99, and $4.99. You’ll see hearts next to the usernames of those who purchase badges, allowing you to acknowledge them with shout-outs during your live session and later with “thank you” stickers in your stories.

Instagram states that creators receive the entirety of the revenue generated from badge purchases during live videos, after deducting applicable taxes, fees, and the 30% commission taken by Google and Apple for in-app transactions.

To enable this function on your account, navigate to your “Profile,” access the “Professional Dashboard,” choose “Grow Your Business,” and then opt for “Badges.” When you start a Live session, simply click on the “badges” icon located on the left side of your screen to activate them.

3.2 Enable Instagram Live Badges

Bonuses offer financial rewards to Instagram creators upon achieving specific milestones. These milestones may include hosting a certain number of Live sessions, enrolling in IGTV Ads, or creating a predetermined quantity of Instagram Reels. Once you’ve reached these milestones, you become eligible to receive rewards through the Bonus Programs. However, it’s important to note that participation in the Bonus Programs is currently by invitation only. Stay updated for any changes in eligibility criteria.

 

4. Sell Your Own Merchandise

Passionate about your business and ready to take it to the next level? Opening an Instagram Shop lets you sell your products directly through the platform, connecting with a global audience of millions of users.

How It Works?

If you have items or goods to sell, you can establish an Instagram shop to begin generating revenue. After setting up your shop (which requires a business or creator account), potential buyers can peruse your product selection, view prices, gather product details, and make purchases directly on Instagram or by navigating to your website.

To boost visibility for your shop, you can tag your products in reels, incorporate shopping stickers into your stories, and broaden your reach by allowing other creators to tag your products.

Here are five steps to set up a shop on Instagram
  1. Switch to a business account.
  2. Link your Facebook Page.
  3. Upload your product catalog.
  4. Complete the account review process.
  5. Enable Shopping features.
Examples of Success
  • Warby Parker: Eyewear brand Warby Parker uses Instagram to showcase their products and offer users the ability to purchase directly from the platform.
  • Aerie: Lingerie and sportswear brand Aerie uses Instagram to connect with their audience through inspiring and positive content, and to sell their products.

Opening an Instagram Shop is a powerful way to boost sales, grow your business, and connect with a global audience. With careful planning and execution, you can turn your shop into a thriving success.

 

5. Drive Traffic To Your Website

Driving traffic from Instagram to your website is a powerful strategy for increasing visits, generating leads, and growing your business.

5.1. Optimize your Instagram profile
  • Include a link to your website in your bio.
  • Use an attractive and relevant profile picture and cover image.
  • Write a clear and concise bio that describes your business and value proposition.
5.2. Create high-quality content
  • Post engaging photos and videos that capture your audience’s attention.
  • Use relevant hashtags to make your content more discoverable.
  • Tell compelling stories that connect with your target audience.
5.3. Engage with your audience
  • Respond to comments and questions from your followers.
  • Participate in relevant conversations in your niche.
  • Run contests and giveaways to increase engagement.
5.4. Use Instagram features to drive traffic
  • Use Stories to share links to your website.
  • Add “Link stickers” to Stories to direct users to specific pages on your website.
  • Create feed posts with calls-to-action that invite users to visit your website.
  • Use Instagram Live to share live content and direct users to your website.
5.5. Promote your Instagram account
  • Promote your Instagram account on other social media platforms.
  • Collaborate with influencers in your niche to reach a wider audience.
  • Invest in Instagram ads to increase your account’s visibility.
Examples of success
  • Airbnb: Airbnb uses Instagram to share inspiring photos of accommodations around the world, directing users to its website to book their travel.
  • GoPro: GoPro uses Instagram to showcase exciting videos of people using its cameras, directing users to its website to purchase products.

 

6. Selling Courses and Digital Products

Based on the interests and needs of your audience, create online courses, ebooks, downloadable guides, templates, digital tools, or other digital products that provide solutions to the problems or challenges your followers face.

Promote your courses or products

Use Instagram marketing strategies to promote your courses or digital products. This may include sponsored posts, story ads, collaborations with other creators, giveaways, or contests, among others.

Use Instagram Shopping

If you sell downloadable digital products, you can take advantage of Instagram Shopping feature to tag your products in posts and make it easier for your followers to make direct purchases from the platform.

Real examples

@thefemalehustlers: This profile offers online courses and digital resources for female entrepreneurs. They provide courses on digital marketing, personal development, and business growth, among other topics.

@TheMinimalistBaker: This profile shares healthy and delicious cooking recipes. In addition to their free content on Instagram, they also sell a downloadable digital cookbook containing exclusive recipes and helpful tips.

 

7. Enable Instagram Subscriptions

Instagram Subscriptions allows you to offer exclusive content to your most dedicated followers in exchange for a monthly fee. This innovative feature unlocks a new world of possibilities to generate recurring income and build an engaged community on the platform.

7.1. Enabling Subscriptions
  • Have an Instagram Business account.
  • Meet Instagram’s eligibility criteria, such as having a minimum number of followers.
  • Develop high-quality and exclusive content that incentivizes users to subscribe.
7.2. Setting Up Subscriptions
  • Access your Instagram account settings.
  • Select the “Subscriptions” option.
  • Set the price for your monthly subscription.
  • Define the benefits you’ll offer to subscribers, such as exclusive content, special lives, chat badges, and discounts.
  • Promote your subscription through your content and posts.
7.3. Maximize Your Subscription Earnings
  • Create engaging and exclusive content that stands out from your free content.
  • Offer various subscription tiers with different benefits to cater to a wider audience.
  • Regularly interact with your subscribers to keep them engaged.
  • Promote your subscription on other social media platforms.
Success Stories
  • @garyvee: Marketing guru Gary Vaynerchuk offers exclusive business and entrepreneurship content to his subscribers.
  • @amandaoleander: Fitness influencer Amanda Oleander provides personalized workout plans and exclusive health and wellness content to her subscribers.

Instagram Subscriptions stand as a powerful tool for generating recurring income from your content. If you have a dedicated audience and are willing to create exclusive and high-value content, this strategy can be the key to turning your passion into a thriving business on the platform.

8. Offer Instagram Marketing Services

Do you have expertise in Instagram marketing, caption writing, or content creation? If yes, you could excel in freelancing opportunities on Instagram. By offering consultancy services to businesses seeking to enhance their Instagram marketing strategies, you can earn substantial income, charging hourly service fees ranging from $20 to $50, and even up to $100 for caption writing.

Expand your freelance clientele and promote your services through your Instagram bio. Additionally, you can advertise your offerings on platforms like Fiverr and Upwork. Moreover, consider integrating online scheduling into your website to enable clients to book your services conveniently directly from your site.

 

9. Donations and Tips

Instagram itself doesn’t currently offer built-in donation features. However, you can utilize external platforms like Patreon, Ko-fi, or Buy Me a Coffee to seamlessly receive financial support from your followers. These platforms allow you to:

  • Create different tiers of support: Offer exclusive content, early access to projects, personalized interactions, or other perks based on the chosen donation tier.
  • Simplify the donation process: These platforms provide secure and user-friendly interfaces for your followers to contribute directly.
  • Build deeper connections: Foster a sense of community and appreciation by directly engaging with your supporters and acknowledging their contributions.
Who Can Benefit from Fan Support

This strategy is particularly effective for creators who:

  • Produce valuable and engaging content consistently.
  • Have a dedicated and passionate following.
  • Offer unique value propositions and exclusive benefits to supporters.
Examples in Action
  • @jessicamendozaa: A fashion and lifestyle influencer uses Patreon to offer exclusive behind-the-scenes content, early access to tutorials, and personalized styling advice to her supporters.
  • @the_budget_mom: A financial literacy expert utilizes Ko-fi to receive tips from her followers in exchange for access to downloadable budgeting templates and personalized financial advice.
Getting Started with Fan Support
  1. Choose a platform: Research and select the platform that best aligns with your needs and target audience.
  2. Set up your profile: Clearly explain the value proposition you offer to supporters and showcase the benefits of different tiers.
  3. Promote your platform: Integrate links to your donation platform strategically across your Instagram bio, captions, and stories.
  4. Express gratitude: Consistently thank your supporters and acknowledge their contributions to show appreciation and build a strong community.

 

10. Dropshipping

Dropshipping enables you to operate a store without the need to hold any physical inventory. Instead, you partner with suppliers who handle inventory management and shipping on your behalf. This means you have the flexibility to select from a vast array of products offered by various suppliers, ranging from T-shirts and books to mugs and pillows.

With dropshipping, you’re liberated from the complexities of fulfillment and shipping logistics, allowing you to focus on what matters most: growing your business. Moreover, you have the autonomy to set your own pricing, enabling you to maximize profits and remain competitive in the market.

When you’re ready to kickstart your dropshipping venture, consider leveraging the power of Instagram to promote your business. Create a dedicated Instagram page showcasing your curated selection of products, captivating imagery, and compelling content. Utilize Instagram’s features such as Stories, IGTV, and Reels to engage with your audience and drive traffic to your online store.

 

11. Reselling Clothing

It’s not uncommon to find Instagram influencers leveraging their platforms to sell clothing and accessories, often offering discounts and showcasing carefully curated collections. With the rising popularity of vintage and second-hand items, influencers have found lucrative opportunities to capitalize on this trend and earn profits from their fashion ventures, extending their reach beyond Instagram to other social media platforms.

Platforms like Depop, Poshmark, and Grailed have emerged as essential tools for influencers looking to streamline the buying and selling process. These platforms provide user-friendly interfaces and features that simplify inventory management, allowing influencers to effectively showcase their products and connect with potential buyers.

By strategically leveraging these platforms, influencers can expand their audience and tap into niche markets, catering to the growing demand for unique and sustainable fashion choices. Additionally, the ability to offer discounts and exclusive deals further enhances their appeal, driving sales and bolstering their revenue streams.

 

12. Enable Ads On Reels

Ads on Reels is a real program from Meta (formerly Facebook), but it is currently not widely available and you need an invite from Meta to participate in the testing phase.

How does “Ads on Reels” work?
  • It is a performance-based monetization program where creators earn money based on the number of views their Reels receive, not the ad revenue generated.
  • This means the program focuses on creating engaging content that attracts viewers, rather than directly monetizing ad views.
Is “Enable ads on Reels” readily available?

No. As mentioned earlier, the program is still in the testing phase. Only a limited number of creators receive invitations to participate.

We will keep you updated once is available.

How Much Can You Make On Instagram?

Here are some estimates of how much money you can earn on Instagram using the tactics we have discussed above to give you an idea of how much it could be:

Affiliate marketing
  • Commission: 5-20% per sale
  • Example: You promote a $100 online course with a 10% commission. For each sale you generate, you receive $10.
  • Potential income: If you sell 10 courses a month, you can earn $100.
Selling digital products
  • Price: $5-$50+ per product
  • Example: You create an ebook with tips for traveling around Europe for $15.
  • Potential income: If you sell 10 ebooks a month, you can earn $150.
Exclusive memberships
  • Price: $5-$20+ per month
  • Example: You offer a membership with access to exclusive photography content for $10 per month.
  • Potential income: If you have 10 members, you can earn $100 per month.
Patreon
  • Membership levels: $1-$50+ per month
  • Example: You offer 3 membership levels for your Patreon: $5 for access to behind-the-scenes content, $10 for access to tutorials, and $20 for monthly video calls.
  • Potential income: If you have 50 members with an average of $15 per month, you can earn $750 per month.
Dropshipping
  • Profit margin: 20-50% per product
  • Example: You sell t-shirts with a 30% profit margin. Each t-shirt costs $10 from the supplier and you sell it for $15.
  • Potential income: If you sell 100 t-shirts a month, you can earn $500.
Freelance services
  • Price: $20-$100+ per hour
  • Example: You offer video editing services at $50 per hour.
  • Potential income: If you work 20 hours a week, you can earn $1,000 a week.
Coaching or mentoring
  • Price: $50-$200+ per session
  • Example: You offer individual coaching sessions for entrepreneurs for $100 per session.
  • Potential income: If you do 10 sessions a month, you can earn $1,000.

Conclusion

Instagram has become a powerful platform for generating income. Influencers and content creators can leverage various strategies to monetize their presence, diversify their sources of income, and build a thriving business. The data don’t lie:

  • The number of content creators earning over $100,000 per year on Instagram has increased by 96% in the last two years.

With hard work, dedication, and a smart strategy, you can turn your passion into a profitable business on Instagram. The platform offers a great opportunity to monetize your talent, build a thriving community, and generate sustained income.

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