Can you make money as an Instagram influencer? The short answer is a resounding yes. Content creators around the globe are making a living off monetizing their platforms, and being an influencer can be very appealing to those seeking a career in social media. The potential within these platforms is immense — and that has become clear to many people. Instagram is the 3rd-most popular social media platform in the world and currently has over 2 billion monthly active users.
With the rise to prominence seen in the creator space in recent years, it comes as no surprise that people from every walk of life want to become Instagram influencers. And not just for the clout – but also for the massive earning potential the platform offers. However, while many may still believe that being an influencer is an easy job, generating a steady income from Instagram is not simple by any means. To do so, you need to have a well thought out strategy.
How to Become an Instagram Influencer
Becoming an Instagram influencer doesn’t happen overnight. If you want to make money on Instagram, you have to generate a following and it’s important to take the appropriate steps to create a strong foundation for yourself. For starters, you need to determine a market that suits you and your values. You can make content about something you’re passionate about or in a field where have an expertise. To be an Instagram influencer, you need to consistently post creative, engaging content. So it’s ideal to create content for something you’re passionate about.
Knowing and understanding your target market can help you save time when researching and producing content as it provides you with the necessary information to relate to your audience on a personal level. Once you have established a solid following and clear niche, you then have the power to influence. This relies upon creating an interesting profile that includes a bio that effectively tells your story and shows the world exactly who you are.
Next comes the fun part – creating content. Sharing your story through photos and videos with catchy captions will attract viewers and help you connect with your followers on a personal level while building trust with your audience. The more relatable you are to your audience, the more they will engage with your content.
Last but not least, posting consistently is key to becoming an Instagram influencer. Most creators post at least once a day, but many post several times a day to increase engagement and keep themselves relevant in social feeds. Now that you’ve started your journey to become an Instagram influencer, let’s dive into making money on the platform.
How to Make Money on Instagram
Influencers have several opportunities to monetize their content on the platform. The amount of money you can make on Instagram is determined by many factors, including your credentials, audience size, engagement, and strategy. But it also requires a lot of hustle and a sprinkle of luck. Leveraging your creativity and establishing a clear niche helps you to develop real influence over your followers, and that’s the key to making money on the platform.
Here are five of the most popular methods for making money on Instagram:
Brand Collaborations
The most common way for Instagram influencers to earn money is through brand partnerships. You can find any brand, big or small, that shares similar values as you aim to create a partnership. Having aligned values is paramount for a successful collaboration, so it’s essential to represent a brand you feel passionate about in order to remain authentic and genuine to your followers.
Brand partnerships can take many forms. For example, a brand may pay you to create an Instagram post featuring a specific product, or it may provide creators with free products in exchange for publishing sponsored content, called gifting. One of the best methods in creating opportunities to collaborate with specific brands is creating a few posts that feature some of your favorite products for free. Once a brand sees how you engage with followers and your influence grows, they will be more likely to reach out for a collaboration.
To find out how much an Instagram influencer makes for a brand collaboration, check out our post on influencer marketing tiers.
Affiliate Programs
An affiliate program is a marketing arrangement where a business rewards an influencer for driving traffic or sales to its website or products. Influencers will promote the company’s products on Instagram using unique tracking links, and when a customer makes a purchase or completes a desired action (like signing up for an email list) through one of these links, the affiliate earns a commission or reward.
Affiliate programs are performance-based, meaning influencers only earn when their promotion leads to tangible results like sales or leads. It’s a tactic that is popular in e-commerce, and affiliate programs are an effective way for businesses to expand their reach while paying for actual conversions. Amazon is a great example of a company who has gone all-in on affiliate programs, even giving creators the ability to create their own storefront on the company’s website.
Instagram Live Badges
Instagram’s Live Badges can be used to earn money directly on the app for U.S.-based Instagram influencers. Viewers can purchase the badges to show their support to creators during a live video, and when a viewer purchases a badge, a heart icon appears next to their name in the comments. Think of it like a donation in some ways, where your followers can help financially support your efforts and enable you to continue creating the content they love.
Instagram badges are available in three tiers:
- One heart: $0.99
- Two hearts: $1.99
- Three hearts: $4.99
To enable Live Badges, you must first meet certain eligibility requirements. You can enable badges in your Profile by selecting “Professional Dashboard” and if you’re eligible for monetization, you’ll see a button to “Set Up Badges.”
Promoting Your Own Products or Services
Aside from selling products and services for brands, you can also advertise your own product and services on the platform as well. This tactic is particularly effective for influencers who also produce content on other platforms, such as YouTube and TikTok, where additional monetization opportunities exist. The more users discover, view, and engage with your content, the higher the likelihood you will eventually convert that follower into a customer.
But using Instagram as a tool to sell your own products or services doesn’t just empower you to monetize your following for your own ventures. Building a strong, loyal audience will help increase your credibility with brands, and they will be more inclined to partner with you when you have demonstrated the ability to both increase your following and consistently engage your audience.
Influencer marketing spend is expected to to reach $24 billion this year, so it’s no wonder why so many people are interested in becoming Instagram influencers and getting their piece of the pie. But while the market continues to grow year over year, so does the competition. Therefore, determining how much influencers make on Instagram requires a somewhat nuanced approach. Figures are dependent on numerous factors, including follower count, engagement rate, niche, and brand partnerships.
Here’s a high-level breakdown of how much money influencers can expect to make on Instagram from brand deals, organized by tier.
These figures account for income from sponsored posts, so while we can establish what influencers make from this segment, it doesn’t account for the other income streams they can create on the platform. This includes revenue from Live Badges, sales of your own products or services, and goods/revenue generated through affiliate programs. Each and every influencer is unique in their following, their content, and their business ventures. Therefore, additional earnings outside of brand deals must be assessed on a case-by-case basis.
Become an Instagram Influencer and Boost Your Income With Viral Nation
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