6 Simple Ways to Earn Money with Instagram
With billions of daily users, Instagram is one of the largest social media platforms in the world.
Therefore, it is normal for every user of the platform with an entrepreneurial spirit to ask the question: how to make money on Instagram?
Create and sell your own product
While this method of making money on Instagram is probably one of the most difficult, it is also the most profitable in the long run.
A notable example of this method is Quebec influencer Elizabeth Rioux. She used her presence and influence on Instagram to start an eco-friendly clothing and swimwear brand: Hoaka.
Some ideas for products that you can easily make yourself:
Pencils, clothing, backpacks, laptop sleeves, shoe.
Once you have a product idea in mind, you can contact local or foreign manufacturers to get an estimate of production costs.
Then, to get your subscribers to buy your product (or products), we recommend setting up an online store with a service like Shopify.
This method is very difficult to perform. To make the process easier, there are several agencies and consultants that specialize in influencer brand building.
Earn money with sponsored posts
This first method is probably the easiest and requires the least effort. Why the minimum effort? Because the brands interested in sponsoring you to publish for them will contact you.
If your audience is big enough, you've probably already received dozens of sponsored post suggestions. But beware, don't accept free brand promotion in exchange for free merchandise, it's never worth it.
The best sponsored posts are the ones that make you money and not a chance to get more subscribers.
Create a Patreon page for your super fans
Patreon is a platform that allows you to post private content to your super fans who are willing to pay a certain monthly fee (determined by you) to support you.
Joining is free and some creators earn thousands of dollars a month on Patreon.
Make money with NFT
The recent popularity of NFTs (non-fungible tokens) is a great opportunity to monetize your Instagram page. In fact, you are welcome to sell your publications as NFTs on platforms such as OpenSea.
Create a VIP mailbox
Another way to monetize your Instagram audience is through a VIP mailbox. A good example of this method is MorningBrew or The Hustle. These two brands offer mailboxes on various topics for a monthly subscription ranging from $5 per month to a maximum of $250 per month (and sometimes even more).
This method works especially well for news niches like finance, entrepreneurship, or news sites.
Become an Instagram consultant for other influencers
If you are an expert at managing Instagram pages, you know how to grow pages from 5,000 to 50,000 (and more) followers in just a few months, you know exactly what the community wants, why not your consulting services to sell? ?
Do you know that dozens, if not hundreds of companies are willing to pay you thousands of dollars to help them grow their Instagram following?
If you're the right person for this method, you can directly contact businesses that don't have Instagram or have very few followers to offer them your consulting services.
How many Instagram followers do you need to make money on Instagram?
Good question. In fact, it all depends on what niche your Instagram page is in. In fact, you need far fewer subscribers when you create financial content than when you post travel photos.
However, having thousands of followers does not necessarily mean that your page will be profitable. In fact, before you can monetize your page, it's important to assess the level of engagement of your subscribers.
Imagine two pages in the same niche, the first with 100,000 followers and an engagement rate of 0.001%, the second with 26,000 followers and an engagement rate of 37%.
Which side will make more money? If you answered the second, you're right, the higher the engagement, the better. High engagement means that subscribers are interested in your content and more likely to buy what you promote for them.
Now that we know how many Instagram followers you need to monetize your account, let's take a look at some monetization methods.
Making money on Instagram is much easier than many people think. The key to monetizing your audience is knowing what they want.
In fact, promoting women's products on a soccer highlights Instagram page probably isn't the best idea.
Know your audience well and give them the products they want. If you have any other tips for making money on Instagram, share them below.
If you want to know other articles similar to 6 Simple Ways to Earn Money with Instagram You can visit the category HOW TO MAKE MONEY.