Do you spend a good portion of your day scrolling through Instagram and commenting on posts? If you’re already liking and sharing your way through social media, why not make money from it?
You can still earn money on Instagram even if you don’t have a ton of followers. If you’re not one of the top Influencers on the platform, don’t worry, you can still find ways to bring in some extra cash.
So what does it take? Besides regular posting and constant engagement on your page, you need to do some behind-the-scenes hustling to secure partnerships and get your name and “brand” out there.
Try these five ways to add more money to your bank account.
As social media platforms go, Instagram is one of the most popular and widely used ones. According to Search Engine Journal, as of 2020, it was the fifth most popular download on the Apple Store and the tenth most visited website.
With so many users and so much traffic, generating income is probably easier than you think. While high-level influencers with over 1 million followers make around $670 per post, those with only 10,000 can easily pocket up to $88 per post.
Of course, your bottom line depends on your follower interaction and how much they comment, like, and share your posts.
Companies can strike deals with Instagrammers that have only 1,000 followers if those followers are engaged and apt to buy sponsored products.
Unlike other social media platforms, you don’t need scores of followers to bring in cash on Instagram. While more followers generally equal more money, Instagram relies more on user engagement.
If you feel like you already have that, you’re already halfway there. Here are some ways to capitalize on your Instagram account.
1. Partner with a Brand for Sponsored Posts
How much can you make? Creators with 100,000 followers and over can make anywhere from $300 – $1,000 per sponsored post.
Those with less could earn up to $200, and Instagrammers with over 500,000 followers can get upwards of $2,000 to $3,000 per post.
One of the most lucrative ways to make money is through sponsored posts. Instagram is currently putting together a marketplace to help creators and brands find each other.
However, if you have a specific niche, it’s always a good idea to reach out to various companies that align with your space.
Some brands also have ambassador programs and will actively recruit certain Creators to help expand their visibility.
You must engage your followers and keep up with comments to make your account more attractive to companies looking for partnerships.
2. Insert Ads Into Your Videos
How much can you make? What you make depends on how many views each video gets. Instagram claims that Creators get 55% of the ad revenue generated per view.
If you frequently post videos on Instagram, why not profit from it? All you have to do is turn on one setting to allow in-stream video ads, and you’re set. However, there are certain requirements your videos need to meet.
All the content must be your own, and the videos need to be at least two minutes long (2-4 minutes is recommended). If you incorporate any music, you need to own the rights to it.
3. Earn Badges Through Instagram Live
How much can you make? Users can buy badges for $.99, $1.99, and $4.99.
Similar to a tip, users can buy badges and send them to you via hearts when you share videos with Instagram Live. The badges probably won’t make you rich, but they are a great way to increase your audience engagement.
Before you go live, make a post about it to inform your users what you’re planning and what time they can catch you. You can add in the Q&A feature and communicate with special followers during these sessions.
4. Sell Your Products or Services
How much can you make? This one depends on what the product or service is, but if you really hustle, you should make anywhere from $50 to a few hundred.
Do you have your own business? How about a side hustle? Maybe you’re really crafty and have your own Etsy shop.
In this case, you can link your shop in your Instagram bio or set up a whole business account profile.
To help promote your business, you can ask clients that bought your items to tag you with their purchases. Also, come up with a hashtag for your business for added exposure.
In the craft example above, you may need to spend money on materials before you see a profit, but if you keep at it regularly and update your posts, you should see your profits rising.
While writers could easily market their talent and services on their own Instagram page, there are additional ways a wordsmith could make some cash.
5. Write Captions
How much can you make? Your earnings come down to what you charge per hour and the client’s budget. Smaller companies probably can’t offer as much but are a great way for newbies to get started.
Generally, you’ll probably see $50 and upwards per post you generate.
Big companies often have an in-house content creation staff that oversees the snappy captions of their Instagram posts.
Smaller businesses don’t have the budget for that and often hire freelancers to help them with their social media effort.
If this type of work interests you, then update your own Instagram profile. Add to it smart captions or witty quotes that will grab the attention of potential employers. Consider adding a link to your blog or other pieces of your work.
One of the first things a potential customer will want to see is your portfolio or at least some examples of your writing.
Here are some additional tips to make your Instagram space even more profitable.
With so many users, there’s definitely a spot for you and your interests on the platform. But you need to find it and find those interested in the same thing. Hashtags can help you do that.
You can explore accounts with similar ideas and find ways to differentiate yourself from them.
Don’t bombard your audience with sponsored posts. While they might make you money, your followers will quickly tire of post after post selling them items.
Only work with companies you believe in and limit such posts to two or three times a month.
If you want more followers, take care of the ones you currently have. Answer their questions and add helpful comments.
Share posts from other followers because Instagram is a community, after all.
With so many users on Instagram, it’s the perfect platform to invest some time in and make some extra money.
If you have a specific niche and can start building your audience, the potential for money-making opportunities is endless.
If you’re looking to conquer another social media platform, check out ways to make money on Facebook.