How To Make Money On Instagram In 2024

Often we use Instagram to post our pictures, explore the pages of people we want to know about and many others. In as much as it is a social platform for all these things, it is also a very great avenue to make money. Whether to sell our products or simply become an influencer, there are several other methods of using this incredible app to make money.

In this article, we will extensively show you how to make money on Instagram and also scale up your online presence by having more engagements to reach your target audience and beyond.

To enhance your Instagram marketing strategy, consider creating an active website and link it to your bio using the specialized link-in-bio tools specifically designed for e-commerce.

Can You Make Money On Instagram

The answer to this question is a big yes. CBInsights have confirmed that Instagram is one of the largest platforms where influencers and creators can earn money from the content they put on the platform.

Mark Zuckerberg, CEO of Meta had this to say in 2021, “To help more creators make a living on our platforms, we’re going to keep paid online events, fan subscriptions, badges, and our upcoming independent news products free for creators until 2023.”

The company has also introduced the Instagram Payout Feature which is to help the creators understand their payouts from the app. This helps the users to know what they will receive after taxes are taken, in-app purchase fees and refunds.

How Many Followers Do You Need To Make Money On Instagram?

Making money on Instagram depends on your following especially when the money is to be gained from the app’s payment plan. You will need at least 1000 followers to be able to make money on the app. Unlike the influencers. Instagram sellers do not need many followers to function but their engagements are highly important to reach new and potential customers.

Another way of making money on Instagram is through your engagements. To be able to know how far your engagement reached or its rate, you will have to take the number of comments and likes on each post and divide it by your total followers.

Brands who look up to people for sponsorships are more concerned about the active engagements rather than the large following which does not yield any positive engagement. To increase one’s following, all it takes is to be able to post content of high quality that will catch the eye of your followers and target audience.

How To Make Money Online On Instagram

Collaborate with a company to create sponsored content.

1. Generate income on Instagram by operating as a content creator.
2. Establish an online store on Instagram.
3. Become an affiliate marketer on the platform.
4. Channel visitors to your site via Instagram.
5. Provide specialized Instagram marketing solutions.
6. Market your images, artwork, or digital content.
7. Share unique and exclusive content with your followers.
8. Utilize dropshipping to sell products.
9. Curate an Instagram account highlighting specific content or themes.

1. Collaborate With A Company To Create Sponsored Content

One of the best ways to earn money on Instagram is by being an influencer. There are different levels of influencers, such as nano influencers, micro-influencers, and regular influencers. They get gifts or money in return for creating and sharing interesting posts about a brand or business on Instagram. These posts can be advertisements or positive mentions of a brand or product.

Businesses like using Instagram for promotion because it’s a visual platform, and people love looking at pictures and videos. To make money on Instagram, you need to create eye-catching content and reach a lot of potential customers.

In general, you get paid for each post you make, and how much you get paid depends on how many followers you have and how much engagement your posts get. Nano influencers with 500 to 10,000 followers can earn between $10 and $100 per post. Micro-influencers with 10,000 to 50,000 followers usually make about $100 to $500 per post.

To connect with brands for collaborations, you can do a few things:

1. Join different influencer platforms where brands look for people to work with.
2. Mention or contact your favourite brands directly and share some information about yourself as an influencer.
3. Think of a media kit as a way to show off your work and tell brands about your followers, their interests, and what makes you special. You can make a media kit using a website template or by creating a PDF using Etsy.

2. Generate Income On Instagram By Operating As A Content Creator

Facebook made it known that it will spend more than $1 billion by the end of 2022 to help people who create content make money. They have a program called the Creator Fund, where you can earn money from your content through things like IGTV Ads, Instagram Live Badges, and Bonuses.

3. Instagram Live Badges

Being an Instagram creator is not just about what you post, but also about how you connect with your followers. To make more money on Instagram, you should consider setting up a business account, building a strong relationship with your followers, and providing content they enjoy.

Instagram introduced Live Badges to support creators. These badges are like digital tips that fans can give during a live video. They look like hearts and can be purchased in packages ranging from $0.99 to $4.99.

To enable this feature on your account, follow these steps:

1. Go to your profile.
2. Click on “Professional Dashboard.”
3. Select “Grow Your Business.”
4. Choose “Badges.”
5. When you go live, click on the “badges” icon on the left side of your screen and turn them on.

4. Bonuses

Bonuses are a way to earn money on Instagram as a content creator when you achieve certain goals. These goals include going live a certain number of times, signing up for IGTV Ads, or making a specific number of Instagram Reels. But it’s important to note that the Bonus Programs are only available by invitation, so keep an eye out for updates on who can join.

5. Establish An Online Store On Instagram

An Instagram Shop is like having an online store, but it’s all on an app. To make it simple, their slogan “post, tag, sell” explains how it works. First, you create your shop, then you add pictures, descriptions, and prices for your stuff. After that, people can find their things and buy them without leaving Instagram.

Look at how Palm & Wild, who use Wix, made an Instagram Shop for their art prints. By selling on Instagram, they can find new customers and make money. They also put their website link, palmandwild.com, in their Instagram bio to help customers learn more and visit their website.

Here are five steps to create a shop on Instagram:

1. Change your account to a business account.
2. Connect it to your Facebook Page.
3. Add your products to a catalogue.
4. Finish the account review.
5. Turn on Shopping.

6. Become An Affiliate Marketer On The Platform

Becoming an affiliate is different from being an influencer who gets paid for each post. Instead, affiliates earn money through commissions, which can be around 5% to 30% of the sales they generate. To keep track of your sales, you’ll often use a special code or link.

On Instagram, they sometimes call affiliates “Brand Ambassadors.” You can apply on a company’s website or they might reach out to you.

The number of followers you have isn’t the most important thing for brands. They care more about whether you’re a good fit for their audience.

You can only put product links in your Instagram bio or Stories if you have more than 10,000 followers. If you want more options, you could start a blog using a blog maker and write posts about the products with links that can be tracked.

7. Channel Visitors To Your Site Via Instagram

In a recent survey, 80% of the participants mentioned that they find new products or services through Instagram, and it influences their buying decisions. It’s clear that the more people who come across your brand on Instagram, the higher the chance they’ll purchase from your website.

To increase your online earnings, you can use Instagram to guide people to your website. By doing so, you can increase sales, build your email list, and grow a group of loyal customers with the help of your Instagram visitors.

8. Provide Specialized Instagram Marketing Solutions

If you’re good at Instagram marketing, writing captions, or creating content, you could consider doing freelance work on Instagram. You can help other companies improve their Instagram marketing and earn money, charging fees of $20 to $50 per hour, and even $100 for caption writing.

To get more freelance clients and promote your services, you can mention them in your Instagram bio. You can also advertise your services on platforms like Fiverr and Upwork. Additionally, think about adding online scheduling to your website so that people can easily book your services directly from your site.

9. Market Your Images, Artwork Or Digital Content

On Instagram, it’s all about the pictures, so if you’re a designer, photographer, or a creative person, you can make money with your skills. You can sell your photos to other businesses, especially in the travel industry. You can also sell your creations like prints and drawings.

If you have a website or an online portfolio for your photography, think of Instagram as a showcase for your work. Use it to attract more clients and show off your talents.

10. Share Unique And Exclusive Contents With Your Followers

People are naturally curious and love learning new things. That’s why online course platforms like Coursera, Masterclass, and Udacity are so popular. If you want to create an online course, Instagram is a great way to promote it and make money when people sign up.

Online courses can be priced at around $100 for shorter ones, while longer and more in-depth courses can cost thousands of dollars. But you don’t have to stop at just courses. You can also make money on Instagram by selling simple downloadable guides, eBooks, whitepapers, or templates.

11. Utilize Dropshipping To Sell Products

When you’re starting a business, one big challenge can be dealing with inventory – keeping and managing products. But there’s a way to run a store without ever having to hold any inventory, and it’s called dropshipping.

With a dropshipping business, you can pick from a wide variety of products from different suppliers, like T-shirts, books, mugs, and pillows. You don’t have to worry about handling and shipping the products yourself.

Plus, you can decide on your prices to make more money. Once you’re ready to promote your dropshipping business, create a special Instagram page to show off your products, let people know about your website, and boost your sales.

12. Curate An Instagram Account Highlighting Specific Contents Or Themes

Instagram feature accounts are like places where you can see lots of photos from different people who are interested in the same topic. For example, a travel page shares pictures from various travel bloggers and gives them credit. There are many of these feature accounts on Instagram that focus on different topics.

Now, here’s the interesting part: once you have a good number of followers on your account, you can make money by letting other users pay to be featured on your account or in your Instagram Stories. People are willing to pay for this exposure because it can help them get more attention on Instagram.

On average, you can charge between $15 and $30 for each post where you feature someone. Some Instagram accounts also manage follower groups where people exchange likes, and they offer paid memberships for around $20 to $30 per month.

This way of making money doesn’t involve buying or selling physical things, but it does require you to spend a lot of time interacting with other accounts, talking to potential customers, and growing your own group of followers.

Ways To Succeed On Instagram

Here are five ways to make your Instagram page one of the best;

1. CHOOSE A SPECIFIC TOPIC OR NICHE: Focus on a particular area that you’re passionate about and become an expert in it. This will make it easier to get followers and work with brands. Instead of being a general food influencer, you could focus on things like vegan or gluten-free cooking. Being specific sets you apart from others.

2. ENGAGE WITH OTHERS: Don’t just post pictures and videos – interact with other people on social media. Like, comment, message, and share their content. Share your personal stories to connect with your audience. This is crucial on Instagram, as well as other social platforms.

1. USE TAGS: Include hashtags, location tags, and tag brands in your posts and collaborations. This will help more people discover your content and possibly lead to brand partnerships.

4. USE MULTIPLE PLATFORMS: Be active on different social media platforms like YouTube, and TikTok, or start a blog and newsletter. Promote each of your accounts on these platforms to reach a wider audience. You can also explore money-making options like Patreon for exclusive content or music downloads.

1. BE PRODUCTIVE AND PERSISTENT: Don’t be afraid to reach out to brands for partnership opportunities. Apply for ambassador programs and collaborate with others, even if it means starting for free in the beginning. As you work towards making money on Instagram, remember the quote: “The only failure is not trying” by Robin Sharma.

Successful Brands Making Money On Instagram

Here are a few of the brands:

1. 1. Mike Holston has more than six million followers on his @therealtarzann Instagram account. He posts videos of big snakes, leopards, and rare lizards to grab people’s attention and share cool facts. He gets lots of views on his videos, which means he can make money from ads on Instagram.
   2. 3Palm & Wild, who use Wix, made an Instagram Shop to sell their fancy art prints. They can reach new customers on Instagram and make money. They also put their website links in their Instagram bio to help people learn more about their products and visit their website.
   3. Amie built a business worth a lot of money while travelling. She uses @rebellenutrition on Instagram to teach others how to make money by creating online courses. She gives followers a sneak peek of her course and tells them the price and how to sign up. She knows how to show her value and make her Instagram look good.

Earning Money On Instagram Vrs Youtube

Earning money on Instagram and YouTube is different. On YouTube, creators get paid for ads on their videos. They can also earn from sponsorships, merchandise, or promoting products.

But Instagram doesn’t pay for ads like YouTube. On Instagram, you make money through sponsored posts, shoutouts, affiliate links, selling products, and using features like Instagram reels and Live videos.

How To Promote Your Business On Instagram To Earn Money

Here’s how to promote your business on Instagram to earn money:

1. Make sure your Instagram marketing is good to get more people to your account and increase your chances of making money. You can use paid advertising, which is a popular way to reach potential customers on Instagram.

2. Build a community of your target audience on Instagram. Engage with them regularly. It may take time and effort, but having loyal followers is important for making money on Instagram.

1. 1. Try creating content that can go viral and be shared by lots of people. Think big when it comes to expanding your reach, whether it’s through funny memes, viral videos, or other types of content.

FAQ On Making Money On Instagram

1. Can Instagram users get paid?

Yes, some Instagram users can get paid, but not everyone. The amount of money you can make depends on the method you choose and how successful you are.

2. Does Instagram pay you for likes?

No, Instagram doesn’t pay you for likes.

3. How many views do you get paid for on Instagram?

There isn’t a set number of views that Instagram pays for. Earnings on Instagram vary depending on your content and partnerships.