Instagram is a social media platform that allows users to share photos and videos with their followers. It was launched in 2010 and quickly gained popularity for its user-friendly interface and visual appeal. Instagram has since evolved to include features like Stories, IGTV, Reels, and more, making it a versatile platform for both personal and business use. With over 1 billion monthly active users, Instagram is one of the most popular social media platforms in the world. Let’s the best ways to make money on Instagram in this article.
List of 16 ways to make money on Instagram
1. Sponsored Posts
Sponsored posts involve partnering with brands and businesses to promote their products or services on your Instagram account. This can involve creating a post or a series of posts that showcase the brand’s product or service, along with a caption that includes a specific hashtag or call to action. You’ll typically receive payment or some other form of compensation in exchange for the sponsored post.
According to a survey conducted by Influencer Marketing Hub, the average cost per sponsored Instagram post is $300. Influencer Marketing Hub also found that Instagram influencers with 100,000-500,000 followers can earn around $500-$2,000 per post, while those with over 1 million followers can earn upwards of $10,000 per post.
2. Affiliate Marketing
Affiliate marketing involves promoting products or services through your Instagram account and earning a commission on any sales made through your unique affiliate link. This can involve creating a post or a series of posts highlighting the product or service, along with a caption including your affiliate link and a call to action. When someone clicks on your link and makes a purchase, you’ll earn a percentage of the sale.
According to a study by Mediakix, 80% of Instagram users follow at least one business on the platform, making it a potentially lucrative platform for affiliate marketing. According to a report by Business Insider, affiliate marketing spending in the US is expected to reach $8.2 billion by 2022. A study by VigLink found that 35% of affiliate marketers earn over $20,000 per year.
3. Selling Products or Services
If you have a product or service to sell, you can use Instagram to promote and sell it to your followers. This can involve creating posts that showcase the product or service, along with a caption that includes a call-to-action to purchase. You can also use Instagram’s shopping feature to tag your products in your posts and allow users to make purchases directly through the platform.
According to a study by Hootsuite, 70% of shopping enthusiasts turn to Instagram for product discovery. According to a report by BigCommerce, Instagram users have spent over $1 billion on products through the app. BigCommerce also found that Instagram has a conversion rate of 1.08% for e-commerce sales.
4. Influencer Marketing
If you have a large following on Instagram, you can partner with brands to promote their products to your audience. This can involve creating sponsored posts, reviews, or other types of content that feature the brand’s product or service. You’ll typically receive payment or other compensation in exchange for the promotion.
According to a study by Linqia, 39% of marketers plan to increase their influencer marketing budget in 2021. According to a survey by Influencer Marketing Hub, the average rate for influencer marketing on Instagram is $10 per 1,000 followers. Influencer Marketing Hub also found that Instagram influencers with 100,000-500,000 followers can earn around $500-$2,000 per post, while those with over 1 million followers can earn upwards of $10,000 per post.
5. Brand Partnerships
Collaborating with brands on sponsored content, giveaways, or other marketing campaigns can be a lucrative way to make money on Instagram. This can involve creating posts or other types of content that feature the brand’s product or service, along with a specific hashtag or call to action. You’ll typically receive payment or other compensation in exchange for the promotion.
According to a survey conducted by Influencer Marketing Hub, 63% of marketers plan to increase their influencer marketing budget in 2021. According to a survey by Influencer Marketing Hub, the average rate for brand partnerships on Instagram is $500 per post. Influencer Marketing Hub also found that Instagram influencers with 100,000-500,000 followers can earn around $500-$2,000 per post, while those with over 1 million followers can earn upwards of $10,000 per post.
Read: Best Ways to Make Money from Facebook
6. Digital Product Sales
Digital products are any products that are not physical, but instead, they are delivered digitally. They include things like eBooks, digital art, printables, stock photos, Instagram templates, and more. Selling digital products on Instagram can be a low-cost and scalable way to monetize your account. Once you create a product, you can repeatedly sell it without additional production costs.
According to a report by eMarketer, the e-learning market is projected to grow to $325 billion by 2025, making it a potentially lucrative area for selling digital products. The digital products market is growing rapidly and is expected to reach a market size of USD 790.3 billion by 2027, with a CAGR of 12.6% from 2020 to 2027 (source: Grand View Research).
A survey by BigCommerce found that 51% of online shoppers prefer to shop online rather than in-store, and 96% have made an online purchase in their lifetime. Additionally, 81% of shoppers conduct online research before making a purchase (source: BigCommerce).
7. Physical Product Sales
If you have a physical product to sell, you can use Instagram to promote it to your followers. This can involve creating posts showcasing your product and a caption that includes a call-to-action to purchase. You can also use Instagram’s shopping feature to tag your products in your posts and allow users to make purchases directly through the platform.
According to a study by Hootsuite, the conversion rate for Instagram shopping is 1.08%, which is higher than other social media platforms. According to a report by BigCommerce, Instagram users have spent over $1 billion on products through the app. BigCommerce also found that Instagram has a conversion rate of 1.08% for e-commerce sales.
According to a report by Shopify, Instagram is the second most popular social media platform for e-commerce sales after Facebook, with 500 million daily active users. Shopify also found that Instagram has a conversion rate of 1.85% for e-commerce sales.
8. Sell Stock Photos
If you’re a photographer or have a collection of high-quality photos, you can sell them on Instagram as stock photos. This can involve creating a separate account or website to showcase your photos and allow users to purchase them for use in their own projects.
According to a report by Grand View Research, the global stock photography market is expected to reach $6.5 billion by 2025, making it a potentially lucrative area for selling stock photos. According to a report by PetaPixel, stock photo websites like Shutterstock and iStockPhoto pay photographers between 15% and 45% of the sale price for each photo sold.
9. Offer Social Media Management Services
If you’re skilled in social media marketing, you can offer social media management services to businesses and individuals. This can involve creating and managing their Instagram account, creating content, and running ad campaigns.
According to a report by Social Media Today, 73% of marketers believe that social media marketing is “very effective” or “somewhat effective” for their business. According to a report by PayScale, the average salary for a social media manager is $51,000 per year.
10. Sell Shoutouts
If you have a large following on Instagram, you can sell shoutouts to other users or businesses. This can involve creating a post or story that features the user or business, along with a caption or call-to-action to follow them or visit their website.
The cost of shoutouts can vary widely depending on the size of the account and the target audience. According to a report by Hopper HQ, the average cost for a shoutout from an account with 100,000 followers is $797. According to a report by Business Insider, accounts with over 100,000 followers can charge between $500 and $1,000 per shoutout.
11. Sell Sponsored Content Packages
If you have a large following on Instagram, you can sell sponsored content packages to businesses and brands. This can involve creating a package that includes a set number of posts, stories, or other types of content that feature the brand’s product or service.
The cost of sponsored content packages can vary widely depending on the size of the account and the scope of the package. According to a report by Influencer Marketing Hub, the average cost for a sponsored content package is $986.
According to a report by Later, sponsored content packages can range from $500 to $10,000, depending on the brand and scope of the project.
12. Offer Instagram Management Services
If you’re skilled in Instagram marketing and management, you can offer Instagram management services to businesses and individuals. This can involve creating and managing their Instagram account, creating content, and running ad campaigns.
According to a report by Hootsuite, Instagram is the fastest-growing social media platform, with 1 billion monthly active users as of June 2018. According to a report by Glassdoor, the average salary for a social media specialist is $50,000 per year.
13. Sell Digital Art
If you’re an artist or designer, you can sell digital art on Instagram. This can involve creating posts showcasing your art, along with a link to your website or sales page where users can purchase.
According to a report by Art Market Monitor, the online art market is expected to reach $9.58 billion by 2020, making it a potentially lucrative area for selling digital art. According to a Art Business News report, the global digital art market is expected to reach $8.56 billion by 2023.
14. Offer Instagram Advertising Services
If you’re skilled in Instagram advertising, you can offer advertising services to businesses and individuals. This can involve creating and managing their Instagram ad campaigns to help them reach their target audience and achieve their marketing goals.
According to a report by Hootsuite, Instagram has over 2 million active advertisers as of September 2017 and Instagram ads have a click-through rate of 0.52%.
15. Sell Instagram Templates
If you’re skilled in graphic design, you can create and sell Instagram templates on Instagram. This can involve creating posts showcasing your templates and a link to your website or sales page where users can purchase.
According to a report by Statista, the global market size of the graphic design industry is expected to reach $48.6 billion by 2024, making it a potentially lucrative area for selling Instagram templates. According to a report by Later, Instagram template designers can charge between $5 and $50 per template, depending on the complexity and design.
16. Offer Instagram Coaching or Consulting Services
If you’re experienced in Instagram marketing and management, you can offer coaching or consulting services to businesses and individuals. This can involve providing advice and guidance on how to grow and optimize their Instagram presence.
According to a report by Social Media Today, 90% of businesses say that social media has increased their exposure, and 66% say that it has helped them generate leads.
| Method | Required Skills | Required Resources | Potential Earnings |
|---|---|---|---|
| Sponsored posts | Large following | Brand partnerships | $10-$50k per post |
| Affiliate marketing | Marketing | Affiliate programs | Commission-based |
| Brand partnerships | Marketing | Brand partnerships | $500-$10k per post |
| Sponsored stories | Large following | Brand partnerships | $500-$2k per story |
| Influencer marketing | Large following | Brand partnerships | $1k-$100k per year |
| Product sales | Sales | Product inventory | Varies |
| Instagram shopping | Sales | E-commerce platform | 1.08% conversion rate |
| Sell stock photos | Photography | Photography portfolio | Varies |
| Social media management | Marketing | Social media skills | Varies |
| Sell shoutouts | Large following | Sponsored content | Varies |
| Sponsored content packages | Large following | Sponsored content | $500-$10k per package |
| Instagram management services | Marketing | Social media skills | Varies |
| Sell digital art | Art and design | Digital art portfolio | Varies |
| Instagram advertising | Marketing | Advertising skills | Varies |
| Sell Instagram templates | Graphic design | Template portfolio | Varies |
| Instagram coaching/consulting | Marketing | Social media skills | Varies |
Final overview
Instagram offers numerous opportunities for individuals and businesses to make money through various methods. From sponsored posts and affiliate marketing to product sales and coaching services, there are many different paths to monetizing your Instagram presence. The key is identifying your strengths and skills and choosing a method that aligns with your goals and interests. You can turn your Instagram presence into a profitable venture with dedication and effort.
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FAQs – Make money on Instagram
Can I make money on Instagram?
Yes, you can make money on Instagram through a variety of ways such as sponsored posts, affiliate marketing, selling your own products or services, and more.
How many followers do I need to make money on Instagram?
While having a large number of followers can certainly help, it is not the only factor that determines your ability to make money on Instagram. Brands and businesses look for engagement, relevance, and authenticity in addition to follower count when considering partnerships.
How do I get started to make money on Instagram?
Start by building a strong and engaged following on Instagram through creating high-quality content, engaging with your audience, and utilizing hashtags and other strategies to increase your visibility. Once you have established a following, consider reaching out to brands or using affiliate marketing to monetize your content.
How much can I make on Instagram?
The amount you can make on Instagram varies widely depending on the size and engagement of your following, the type of content you create, and the partnerships or sponsorships you secure. Some top influencers and celebrities make millions of dollars per year on Instagram, while others make a more modest income.
What are sponsored posts?
Sponsored posts are posts that are created in collaboration with a brand or business. The influencer is paid to create content that promotes the brand or product, often using specific hashtags or other branding elements.
What is affiliate marketing?
Affiliate marketing is when you earn a commission by promoting someone else’s product or service. You can share an affiliate link with your followers, and if they make a purchase through that link, you receive a percentage of the sale.
Can I sell my own products on Instagram?
Yes, many people use Instagram to sell their own products or services. You can set up a shop on Instagram or link to your website or e-commerce platform to drive sales.
Do I need to have a business account on Instagram to make money?
While having a business account can provide access to certain features and analytics, it is not a requirement to make money on Instagram. You can use a personal account to monetize your content, as long as you comply with the guidelines and regulations set forth by the platform and the FTC.
How do I find brands or businesses to partner with?
You can find brands or businesses to partner with by reaching out directly to companies you are interested in working with, joining influencer marketing networks or platforms, or using hashtags and other tools to connect with brands looking for partnerships.
How do I maintain authenticity and credibility while making money on Instagram?
Maintaining authenticity and credibility when monetizing your content on Instagram is important. Be transparent about your partnerships, disclose any sponsored content, and only work with brands aligning with your values and beliefs. Focus on creating high-quality content that is engaging and relevant to your audience and prioritize building and maintaining relationships with your followers.
