How to earn money from Instagram? [Ways to make money fast]
Social media is more than just a channel for self-expression or socializing with your friends. It is a great space to make extra money for brands and content creators. It is common to hear stories about Instagrammers or influencers on Instagram who have found ways to make extra money on Instagram. And it is natural, then, to ask yourself and everyone you meet – how to earn money from Instagram.
However, the competition on the platform can get a little overwhelming if you do not have the reach and audience figured out for your Instagram account. This is why you can even create your own social media app like Instagram and bypass the entire chaos of going through the ordeal of competing for eyeballs.
Can you make money on Instagram?
Of course, you can! In fact, the platform is designed to help creators make money on the platform and has placed itself in direct competition with platforms like blogging and YouTube. Here are some of the most interesting statistics about Instagram that will help you understand how much you can earn from Instagram.
- Instagram made an estimated USD 25.05 billion in ad revenue in 2021 alone.
- As of January 2022, Instagram was the world’s fourth most popular social network.
- By 2025, the number of monthly active users on Instagram is predicted to cross 1.44 billion, accounting for 31.2 percent of global internet users.
These stats all indicate that there is a massive scope or potential to find an audience for your content. So, yes, you can make money on Instagram.
How to make money on Instagram?
There is a definite possibility of making big money on Instagram. After all, Cristiano Ronaldo is paid more than $2.3 million for every post. However, not everyone has the reach and following as strong as the footballer. Hence, your earnings from Instagram will depend on multiple factors like the number of followers, engagement, reputation, etc.
Create sponsored content
This is the most popular way to earn money on Instagram. Peer reviews and peer marketing is worth a lot more than simply running an ad. Most customers would like to hear from someone who has used the product instead of a celebrity or model who is simply advocating the product for the ad. So, if your feed features a lot of fashion content, a clothing brand may be interested in paying you to post a photo with its product featured in it.
Become an affiliate marketer
Look for the highest-paying affiliate programs, and find items that are the best match for your audience and their interests. You can then use your affiliate links in your Instagram posts which will help you earn commissions on the sales you generate. Do this right, and you can make some decent money through affiliate marketing. You can join an affiliate network or individual affiliate programs on the company’s website.
As a business owner, you can use Instagram to sell your products by setting up an Instagram shop. You can list the products and post pictures of the products in your feed to sell your products. As an individual account holder, you can also sell the used products or resell thrift items you have listed on sites like Poshmark. Just ensure that the pictures are taken from all the flattering angles and are of good quality. Especially if you are selling used products, make sure that you mention details about their condition, brands, dimensions, and more.
Become a brand ambassador
A couple of sponsored posts here and there might be okay, but companies typically look for people who can associate with them long-term. Hence, they are often looking for brand ambassadors who can talk about the brand and its products positively for a long time with frequent mentions and product photographs. As one of the most preferred influencer platforms, companies often turn to Instagram to find their brand ambassadors to tie up and put forth great content.
Run ads to monetize your videos
Monetizing your Instagram videos is a great way to earn money from Instagram. There are hundreds, if not thousands, of brands that are looking for ways to promote their brand and product on the platform. All you need to do is choose some of the names that would be of some benefit to you and your audience. Quite like YouTube, Instagram too lets you run ads in your video form content. The amount of money you can earn depends on the number of views your video receives. There’s just one catch, though, you only get to keep only 55% of the total revenue generated.
Become an Instagram coach
This option only applies to those accounts with an impressive following with great engagement and who have figured out their growth. Such account holders can make money by becoming consultants and coaching people to grow their Instagram following.
At this point, we have addressed and answered the question – how to earn money from Instagram. But if you are still keen on it, you can choose to create a social media app on your own.
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