You’ve probably heard stories of Instagrammers who are cashing in on the pictures they snap and share every day. You might've even looked at your own sizeable following and thought, “Maybe I can do that too”.
Just like bloggers, YouTubers, and anyone who’s amassed an audience around the content they produce, Instagrammers have reach and influence figured out—two things many companies struggle with.
Together, these two things offer the opportunity for Instagram creators to explore multiple streams of potential revenue, whether they want to build an empire or just earn some extra cash and free stuff.
How Many Followers Do You Need?
If by now you're wondering how many followers you need to make it happen, the short answer is “not as many as you think”.
The long answer depends on factors that range from:
- What niche you’re in and how easily you can directly tie it to a product category (fashion, food, beauty, and fitness are popular niches, based on top hashtags)
- How engaged your followers are (100K fake followers won’t amount to much).
- Which revenue channels you explore.
Naturally, the more engaged followers you have, the better
While top Instagrammers make thousands per post on the photo-sharing platform, even those with a smaller-but-engaged following of 1000 have the potential to profit.
How to Make Money on Instagram
Depending on your unique brand of Instagram content, your audience, and your level of commitment, you can make money on Instagram in the following ways:
- Doing sponsored posts for brands that want to get in front of your audience.
- Becoming an affiliate and making a commission selling other brands’ products .
- Creating and selling a physical or digital product, or offering a paid service.
- Selling your photography.
The beauty here is that chasing one revenue stream doesn’t necessarily rule out another.
So let’s start with the most common approach to Instagram monetization: partnering with brands as an influencer.
Work With Brands on Sponsored Posts
The term “influencer” gets thrown around a lot these days.
An influencer is basically anyone who’s built themselves an online reputation by doing and sharing awesome things online. To their audiences, influencers are tastemakers, trendsetters and trusted experts whose opinions about certain subjects are respected.
Many brands just can't compete with that and so they partner with influencers instead to do sponsored posts that help get the word out about their products.
1. Sponsored Posts
It’s not always about your follower count, but the number of people who engage with your content and look forward to each one of your posts. A lot of brands are moving away from working with major digital influencers to leveraging smaller bloggers’ audiences.
When you start, reaching out to brands is a great way to secure a few collaborations. As you gain traction, brands will discover you and email you about different opportunities.
Every company has its specific rules for sponsorship, so do not use a one-size-fits-all approach when reaching out. Do your research and interact with them on social before initiating contact.
The key is to only associate with brands that fit your aesthetic. That way, your readers perceive every collaboration as authentic and buy into what you’re trying to sell to them.
Within six months of launching our platform on YouTube and Instagram, we received our first sponsorship opportunity. A jewelry box subscription company found us through a hashtag and reached out. Its reps offered to send us complimentary pieces every month in exchange for a few Instagram features.
We have since received products from Coach, TOMS Shoes, Pura Vida Bracelets and other clothing and accessories brands.
FTC guidelines require you to identify your sponsored posts. We usually include a branded hashtag in our captions (for example, when we collaborated with Coach, it was #CoachHoliday) in addition to the required ones like #ad or #sponsored.
We typically charge at least $75 per sponsored post, but we don’t get paid for all collaborations.Sponsored posts add up to about $600 of our income every month, which we split evenly.
Some brands send their products as gifts — to date, we’ve received $3,000 in merchandise. Because we receive most of our accessories for free from brands, we’ve been able to cut our shopping budgets in half, saving us a combined $500 a month.
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